ST-LAW: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ST-LAW
Largest movements
- Receivables within one year -€21,990
down €21,990 (-68.9%), from €31,903 to €9,913
of which Other amounts receivable: -€25,891
- Cash +€7,365
up €7,365 (+11.8%), from €62,243 to €69,608
mainly Other debts (+€76,957) and Net result for the year (+€65,047)
- Tangible fixed assets -€7,168
down €7,168 (-35.4%), from €20,269 to €13,101
- Financial fixed assets -€1,500
down €1,500 (-40.0%), from €3,750 to €2,250
- Reserves -€96,318
down €96,318 (-100%), from €96,318 to €0
- Other debts +€76,957
new in 2025: €76,957
- Debts after one year -€6,132
down €6,132 (-49.4%), from €12,401 to €6,269
- Tax, wage and social debts +€1,281
new in 2025: €1,281
- Gross operating margin +€33,804
up €33,804 (+59.0%), from €57,249 to €91,053
- Taxes +€7,094
up €7,094 (+68.8%), from €10,311 to €17,405
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,494 | €98,716 | -€22,779 | -18.7% |
| Fixed assets | 21/28 | €24,019 | €15,351 | -€8,668 | -36.1% |
| Tangible fixed assets | 22/27 | €20,269 | €13,101 | -€7,168 | -35.4% |
| Furniture and vehicles | 24 | €20,269 | €13,101 | -€7,168 | -35.4% |
| Financial fixed assets | 28 | €3,750 | €2,250 | -€1,500 | -40.0% |
| Current assets | 29/58 | €97,475 | €83,365 | -€14,110 | -14.5% |
| Amounts receivable within one year | 40/41 | €31,903 | €9,913 | -€21,990 | -68.9% |
| Trade receivables | 40 | €6,012 | €9,913 | +€3,901 | +64.9% |
| Other amounts receivable | 41 | €25,891 | - | -€25,891 | |
| Cash at bank and in hand | 54/58 | €62,243 | €69,608 | +€7,365 | +11.8% |
| Deferred charges and accrued income | 490/1 | €3,329 | €3,843 | +€514 | +15.5% |
| Total equity and liabilities | 10/49 | €121,494 | €98,716 | -€22,779 | -18.7% |
| Equity | 10/15 | €101,318 | €5,000 | -€96,318 | -95.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €96,318 | €0 | -€96,318 | -100% |
| Distributable reserves | 133 | €96,318 | €0 | -€96,318 | -100% |
| Amounts payable | 17/49 | €20,177 | €93,716 | +€73,539 | +364% |
| Amounts payable after more than one year | 17 | €12,401 | €6,269 | -€6,132 | -49.4% |
| Financial debts | 170/4 | €12,401 | €6,269 | -€6,132 | -49.4% |
| Amounts payable within one year | 42/48 | €7,743 | €86,260 | +€78,518 | +1,014% |
| Current portion of amounts payable after more than one year | 42 | €5,997 | €6,132 | +€135 | +2.2% |
| Trade debts | 44 | €1,746 | €1,891 | +€146 | +8.3% |
| Suppliers | 440/4 | €1,746 | €1,891 | +€146 | +8.3% |
| Taxes, remuneration and social security | 45 | - | €1,281 | +€1,281 | |
| Taxes | 450/3 | - | €1,281 | +€1,281 | |
| Other amounts payable | 47/48 | - | €76,957 | +€76,957 | |
| Accrued charges and deferred income | 492/3 | €34 | €1,187 | +€1,153 | +3,430% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,168 | €7,168 | = | 0.0% |
| Other operating charges | 640/8 | €1,014 | €1,110 | +€95 | +9.4% |
| Gross operating margin | 9900 | €57,249 | €91,053 | +€33,804 | +59.0% |
| Operating profit (loss) | 9901 | €49,066 | €82,775 | +€33,709 | +68.7% |
| Financial income | 75/76B | €871 | €680 | -€192 | -22.0% |
| Recurring financial income | 75 | €871 | €680 | -€192 | -22.0% |
| Financial charges | 65/66B | €573 | €1,004 | +€431 | +75.2% |
| Recurring financial charges | 65 | €573 | €1,004 | +€431 | +75.2% |
| Profit (loss) for the period before taxes | 9903 | €49,365 | €82,451 | +€33,087 | +67.0% |
| Income taxes | 67/77 | €10,311 | €17,405 | +€7,094 | +68.8% |
| Profit (loss) for the period | 9904 | €39,054 | €65,047 | +€25,992 | +66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,054 | €65,047 | +€25,992 | +66.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.