ST&M: 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&M
Largest movements
- Cash +€10,276
up €10,276 (+13.6%), from €75,561 to €85,837
mainly Net result for the year (+€44,799) and Investment in fixed assets (net) (+€8,017)
- Financial fixed assets -€10,000
down €10,000 (-7.1%), from €140,000 to €130,000
- Receivables within one year +€9,622
up €9,622 (+95.7%), from €10,059 to €19,681
of which Trade receivables: +€18,319
- Reserves +€29,670
up €29,670 (+15.6%), from €189,879 to €219,549
- Trade debts -€9,882
down €9,882 (-70.9%), from €13,944 to €4,062
- Debts after one year -€9,461
down €9,461 (-29.1%), from €32,516 to €23,056
- Other debts -€3,247
down €3,247 (-98.7%), from €3,288 to €41
- Gross operating margin -€19,858
down €19,858 (-22.2%), from €89,352 to €69,494
- Taxes -€4,806
down €4,806 (-22.6%), from €21,245 to €16,439
- Other operating charges -€2,571
down €2,571 (-52.9%), from €4,859 to €2,288
- Financial income -€2,512
down €2,512 (-52.9%), from €4,747 to €2,235
- Depreciation +€1,778
up €1,778 (+150.9%), from €1,178 to €2,956
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.
Cash bridge derived
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 | €292,978 | €301,904 | +€8,926 | +3.0% |
| Fixed assets | 21/28 | €207,358 | €196,385 | -€10,973 | -5.3% |
| Tangible fixed assets | 22/27 | €67,358 | €66,385 | -€973 | -1.4% |
| Land and buildings | 22 | €63,600 | €61,920 | -€1,680 | -2.6% |
| Plant, machinery and equipment | 23 | €3,477 | €2,542 | -€935 | -26.9% |
| Furniture and vehicles | 24 | €281 | €1,923 | +€1,642 | +584.8% |
| Financial fixed assets | 28 | €140,000 | €130,000 | -€10,000 | -7.1% |
| Current assets | 29/58 | €85,620 | €105,519 | +€19,899 | +23.2% |
| Amounts receivable within one year | 40/41 | €10,059 | €19,681 | +€9,622 | +95.7% |
| Trade receivables | 40 | €1,363 | €19,681 | +€18,319 | +1344.4% |
| Other amounts receivable | 41 | €8,696 | - | -€8,696 | |
| Cash at bank and in hand | 54/58 | €75,561 | €85,837 | +€10,276 | +13.6% |
| Total equity and liabilities | 10/49 | €292,978 | €301,904 | +€8,926 | +3.0% |
| Equity | 10/15 | €189,879 | €219,549 | +€29,670 | +15.6% |
| Reserves | 13 | €189,879 | €219,549 | +€29,670 | +15.6% |
| Distributable reserves | 133 | €189,879 | €219,549 | +€29,670 | +15.6% |
| Amounts payable | 17/49 | €103,098 | €82,355 | -€20,744 | -20.1% |
| Amounts payable after more than one year | 17 | €32,516 | €23,056 | -€9,461 | -29.1% |
| Financial debts | 170/4 | €32,516 | €23,056 | -€9,461 | -29.1% |
| Amounts payable within one year | 42/48 | €70,582 | €59,299 | -€11,283 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €31,274 | €34,038 | +€2,764 | +8.8% |
| Trade debts | 44 | €13,944 | €4,062 | -€9,882 | -70.9% |
| Suppliers | 440/4 | €13,944 | €4,062 | -€9,882 | -70.9% |
| Taxes, remuneration and social security | 45 | €22,076 | €21,158 | -€918 | -4.2% |
| Taxes | 450/3 | €22,076 | €21,158 | -€918 | -4.2% |
| Other amounts payable | 47/48 | €3,288 | €41 | -€3,247 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,178 | €2,956 | +€1,778 | +150.9% |
| Other operating charges | 640/8 | €4,859 | €2,288 | -€2,571 | -52.9% |
| Non-recurring operating charges | 66A | €15,092 | - | -€15,092 | |
| Gross operating margin | 9900 | €89,352 | €69,494 | -€19,858 | -22.2% |
| Operating profit (loss) | 9901 | €68,223 | €64,250 | -€3,973 | -5.8% |
| Financial income | 75/76B | €4,747 | €2,235 | -€2,512 | -52.9% |
| Recurring financial income | 75 | €4,747 | €2,235 | -€2,512 | -52.9% |
| Financial charges | 65/66B | €5,606 | €5,246 | -€360 | -6.4% |
| Recurring financial charges | 65 | €5,606 | €5,246 | -€360 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €67,364 | €61,238 | -€6,125 | -9.1% |
| Income taxes | 67/77 | €21,245 | €16,439 | -€4,806 | -22.6% |
| Profit (loss) for the period | 9904 | €46,119 | €44,799 | -€1,320 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,119 | €44,799 | -€1,320 | -2.9% |
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 12 October 2026 via checked.be.