ST.LO: 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.LO
Largest movements
- Receivables within one year +€111,350
up €111,350 (+157%), from €70,835 to €182,184
of which Trade receivables: +€123,500
- Stocks and contracts +€36,573
up €36,573 (+69.2%), from €52,873 to €89,446
- Cash -€33,665
down €33,665 (-71.4%), from €47,119 to €13,454
mainly Receivables within one year (-€111,350) and Stocks and contracts (-€36,573)
- Other debts +€89,352
up €89,352 (+65.5%), from €136,377 to €225,729
- Trade debts +€24,253
up €24,253 (+163%), from €14,871 to €39,124
- Gross operating margin -€16,677
down €16,677 (-97.3%), from €17,148 to €471
- Taxes -€2,916
down €2,916 (-100%), from €2,916 to €0
- Other operating charges +€845
up €845 (+1,190%), from €71 to €916
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 | €170,826 | €285,084 | +€114,258 | +66.9% |
| Current assets | 29/58 | €170,826 | €285,084 | +€114,258 | +66.9% |
| Stocks and contracts in progress | 3 | €52,873 | €89,446 | +€36,573 | +69.2% |
| Stocks | 30/36 | €52,873 | €89,446 | +€36,573 | +69.2% |
| Amounts receivable within one year | 40/41 | €70,835 | €182,184 | +€111,350 | +157% |
| Trade receivables | 40 | €58,684 | €182,184 | +€123,500 | +210% |
| Other amounts receivable | 41 | €12,151 | €0 | -€12,151 | -100% |
| Cash at bank and in hand | 54/58 | €47,119 | €13,454 | -€33,665 | -71.4% |
| Total equity and liabilities | 10/49 | €170,826 | €285,084 | +€114,258 | +66.9% |
| Equity | 10/15 | €16,662 | €16,176 | -€486 | -2.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €11,662 | €11,176 | -€486 | -4.2% |
| Distributable reserves | 133 | €11,662 | €11,176 | -€486 | -4.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €154,164 | €268,908 | +€114,745 | +74.4% |
| Amounts payable within one year | 42/48 | €154,164 | €268,908 | +€114,745 | +74.4% |
| Trade debts | 44 | €14,871 | €39,124 | +€24,253 | +163% |
| Suppliers | 440/4 | €14,871 | €39,124 | +€24,253 | +163% |
| Taxes, remuneration and social security | 45 | €2,916 | €4,055 | +€1,139 | +39.1% |
| Taxes | 450/3 | €2,916 | €4,055 | +€1,139 | +39.1% |
| Other amounts payable | 47/48 | €136,377 | €225,729 | +€89,352 | +65.5% |
| Other operating charges | 640/8 | €71 | €916 | +€845 | +1,190% |
| Gross operating margin | 9900 | €17,148 | €471 | -€16,677 | -97.3% |
| Operating profit (loss) | 9901 | €17,077 | -€444 | -€17,522 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €110 | €42 | -€68 | -61.8% |
| Recurring financial charges | 65 | €110 | €42 | -€68 | -61.8% |
| Profit (loss) for the period before taxes | 9903 | €16,970 | -€486 | -€17,457 | |
| Income taxes | 67/77 | €2,916 | €0 | -€2,916 | -100% |
| Profit (loss) for the period | 9904 | €14,055 | -€486 | -€14,541 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,055 | -€486 | -€14,541 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.