ST PROJECT: what changed
Two fiscal 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 PROJECT
Largest movements
- Receivables within one year +€5,645
up €5,645 (+13.6%), from €41,427 to €47,071
of which Other amounts receivable: +€10,028
- Tangible fixed assets +€4,622
up €4,622 (+84.0%), from €5,501 to €10,124
of which Furniture and vehicles: +€4,446
- Intangible fixed assets +€1,906
new in 2024: €1,906
- Deferred charges and accrued income -€1,051
down €1,051 (-33.0%), from €3,190 to €2,138
- Cash -€910
down €910 (-19.9%), from €4,581 to €3,671
mainly Investment in fixed assets (net) (-€10,145) and Receivables within one year (-€5,645)
- Trade debts +€5,623
up €5,623 (+11.4%), from €49,463 to €55,086
- Tax, wage and social debts +€2,606
up €2,606 (+60.5%), from €4,307 to €6,913
of which Remuneration and social security: +€1,333
- Profit (loss) carried forward +€1,498
up €1,498 (+16.5%), from -€9,072 to -€7,574
- Staff costs +€17,006
up €17,006 (+29.4%), from €57,786 to €74,792
- Gross operating margin +€11,655
up €11,655 (+15.0%), from €77,908 to €89,563
- Financial charges +€1,604
up €1,604 (+30.9%), from €5,196 to €6,800
- Depreciation +€914
up €914 (+33.8%), from €2,703 to €3,616
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,699 | €64,911 | +€10,212 | +18.7% |
| Fixed assets | 21/28 | €5,501 | €12,030 | +€6,528 | +118.7% |
| Intangible fixed assets | 21 | - | €1,906 | +€1,906 | |
| Tangible fixed assets | 22/27 | €5,501 | €10,124 | +€4,622 | +84.0% |
| Plant, machinery and equipment | 23 | €1,566 | €1,742 | +€176 | +11.2% |
| Furniture and vehicles | 24 | €3,935 | €8,382 | +€4,446 | +113.0% |
| Current assets | 29/58 | €49,198 | €52,881 | +€3,683 | +7.5% |
| Amounts receivable within one year | 40/41 | €41,427 | €47,071 | +€5,645 | +13.6% |
| Trade receivables | 40 | €24,575 | €20,192 | -€4,384 | -17.8% |
| Other amounts receivable | 41 | €16,851 | €26,879 | +€10,028 | +59.5% |
| Cash at bank and in hand | 54/58 | €4,581 | €3,671 | -€910 | -19.9% |
| Deferred charges and accrued income | 490/1 | €3,190 | €2,138 | -€1,051 | -33.0% |
| Total equity and liabilities | 10/49 | €54,699 | €64,911 | +€10,212 | +18.7% |
| Equity | 10/15 | €928 | €2,426 | +€1,498 | +161.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,072 | -€7,574 | +€1,498 | +16.5% |
| Amounts payable | 17/49 | €53,771 | €62,485 | +€8,714 | +16.2% |
| Amounts payable within one year | 42/48 | €53,771 | €62,000 | +€8,229 | +15.3% |
| Trade debts | 44 | €49,463 | €55,086 | +€5,623 | +11.4% |
| Suppliers | 440/4 | €49,463 | €55,086 | +€5,623 | +11.4% |
| Taxes, remuneration and social security | 45 | €4,307 | €6,913 | +€2,606 | +60.5% |
| Taxes | 450/3 | €1,962 | €3,235 | +€1,273 | +64.9% |
| Remuneration and social security | 454/9 | €2,345 | €3,678 | +€1,333 | +56.9% |
| Accrued charges and deferred income | 492/3 | - | €485 | +€485 | |
| Non-recurring operating income | 76A | €16 | €92 | +€76 | +470.1% |
| Remuneration, social security and pensions | 62 | €57,786 | €74,792 | +€17,006 | +29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,703 | €3,616 | +€914 | +33.8% |
| Other operating charges | 640/8 | €1,863 | €1,479 | -€384 | -20.6% |
| Non-recurring operating charges | 66A | €0 | €9 | +€9 | +13200.0% |
| Gross operating margin | 9900 | €77,908 | €89,563 | +€11,655 | +15.0% |
| Operating profit (loss) | 9901 | €15,556 | €9,666 | -€5,890 | -37.9% |
| Financial income | 75/76B | €111 | €802 | +€691 | +620.7% |
| Recurring financial income | 75 | €111 | €802 | +€691 | +620.7% |
| Financial charges | 65/66B | €5,196 | €6,800 | +€1,604 | +30.9% |
| Recurring financial charges | 65 | €5,196 | €6,800 | +€1,604 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €10,471 | €3,668 | -€6,803 | -65.0% |
| Income taxes | 67/77 | €1,867 | €2,171 | +€304 | +16.3% |
| Profit (loss) for the period | 9904 | €8,605 | €1,498 | -€7,107 | -82.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,605 | €1,498 | -€7,107 | -82.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.