ST STABLES: 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 STABLES
Largest movements
- Receivables within one year +€1.0m
up €1.0m (+119%), from €867,481 to €1.9m
of which Other amounts receivable: +€537,098
- Cash -€556,112
down €556,112 (-61.9%), from €898,886 to €342,774
mainly Receivables within one year (-€1.0m) and Stocks and contracts (-€515,855)
- Stocks and contracts +€515,855
up €515,855 (+35.5%), from €1.5m to €2.0m
- Current investments -€258,068
down €258,068 (-14.8%), from €1.7m to €1.5m
- Tangible fixed assets -€138,388
down €138,388 (-3.3%), from €4.2m to €4.0m
of which Other tangible fixed assets: -€162,013
- Trade debts +€510,017
up €510,017 (+131%), from €388,401 to €898,418
- Debts after one year -€230,281
down €230,281 (-6.7%), from €3.4m to €3.2m
- Reserves +€226,300
up €226,300 (+74.6%), from €303,500 to €529,800
of which Tax-exempt reserves: +€126,300
- Short-term financial debts +€200,000
up €200,000 (+50.0%), from €400,000 to €600,000
- Tax, wage and social debts -€130,540
down €130,540 (-61.5%), from €212,208 to €81,668
of which Taxes: -€106,206
- Purchases and services -€607,717
down €607,717 (-12.2%), from €5.0m to €4.4m
- Turnover -€478,678
down €478,678 (-7.7%), from €6.2m to €5.8m
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.
Derived cash bridge
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 | €9,151,413 | €9,727,484 | +€576,071 | +6.3% |
| Fixed assets | 21/28 | €4,167,963 | €4,029,575 | -€138,388 | -3.3% |
| Tangible fixed assets | 22/27 | €4,167,612 | €4,029,224 | -€138,388 | -3.3% |
| Land and buildings | 22 | €9,506 | €9,115 | -€391 | -4.1% |
| Plant, machinery and equipment | 23 | €13,565 | €15,046 | +€1,481 | +10.9% |
| Furniture and vehicles | 24 | €195,152 | €217,687 | +€22,535 | +11.5% |
| Other tangible fixed assets | 26 | €3,949,389 | €3,787,376 | -€162,013 | -4.1% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €4,983,450 | €5,697,909 | +€714,459 | +14.3% |
| Stocks and contracts in progress | 3 | €1,453,384 | €1,969,239 | +€515,855 | +35.5% |
| Stocks | 30/36 | €1,453,384 | €1,969,239 | +€515,855 | +35.5% |
| Amounts receivable within one year | 40/41 | €867,481 | €1,901,706 | +€1.0m | +119% |
| Trade receivables | 40 | €477,492 | €974,619 | +€497,127 | +104% |
| Other amounts receivable | 41 | €389,989 | €927,087 | +€537,098 | +138% |
| Current investments | 50/53 | €1,742,258 | €1,484,190 | -€258,068 | -14.8% |
| Cash at bank and in hand | 54/58 | €898,886 | €342,774 | -€556,112 | -61.9% |
| Deferred charges and accrued income | 490/1 | €21,441 | - | -€21,441 | |
| Total equity and liabilities | 10/49 | €9,151,413 | €9,727,484 | +€576,071 | +6.3% |
| Equity | 10/15 | €2,707,803 | €2,949,994 | +€242,191 | +8.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €303,500 | €529,800 | +€226,300 | +74.6% |
| Tax-exempt reserves | 132 | €303,500 | €429,800 | +€126,300 | +41.6% |
| Distributable reserves | 133 | - | €100,000 | +€100,000 | |
| Profit (loss) carried forward | 14 | €2,383,843 | €2,399,734 | +€15,891 | +0.7% |
| Provisions and deferred taxes | 16 | €407,794 | €407,794 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €407,794 | €407,794 | = | 0.0% |
| Other liabilities and charges | 164/5 | €407,794 | €407,794 | = | 0.0% |
| Amounts payable | 17/49 | €6,035,815 | €6,369,695 | +€333,880 | +5.5% |
| Amounts payable after more than one year | 17 | €3,420,583 | €3,190,302 | -€230,281 | -6.7% |
| Financial debts | 170/4 | €3,420,583 | €3,190,302 | -€230,281 | -6.7% |
| Amounts payable within one year | 42/48 | €2,615,232 | €3,179,394 | +€564,162 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €353,796 | €358,480 | +€4,685 | +1.3% |
| Financial debts | 43 | €400,000 | €600,000 | +€200,000 | +50.0% |
| Other loans | 439 | €400,000 | €600,000 | +€200,000 | +50.0% |
| Trade debts | 44 | €388,401 | €898,418 | +€510,017 | +131% |
| Suppliers | 440/4 | €388,401 | €898,418 | +€510,017 | +131% |
| Advances received on contracts in progress | 46 | €1,204,500 | €1,204,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €212,208 | €81,668 | -€130,540 | -61.5% |
| Taxes | 450/3 | €106,206 | - | -€106,206 | |
| Remuneration and social security | 454/9 | €106,002 | €81,668 | -€24,334 | -23.0% |
| Other amounts payable | 47/48 | €56,328 | €36,328 | -€20,000 | -35.5% |
| Turnover | 70 | €6,248,006 | €5,769,328 | -€478,678 | -7.7% |
| Non-recurring operating income | 76A | €153,287 | €20,481 | -€132,806 | -86.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,982,217 | €4,374,500 | -€607,717 | -12.2% |
| Remuneration, social security and pensions | 62 | €657,817 | €699,607 | +€41,790 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €284,867 | €278,625 | -€6,242 | -2.2% |
| Other operating charges | 640/8 | €8,883 | €34,323 | +€25,440 | +286% |
| Non-recurring operating charges | 66A | - | €21,431 | +€21,431 | |
| Gross operating margin | 9900 | €1,419,076 | €1,415,309 | -€3,767 | -0.3% |
| Operating profit (loss) | 9901 | €467,509 | €381,324 | -€86,186 | -18.4% |
| Financial income | 75/76B | €57,850 | €47,497 | -€10,353 | -17.9% |
| Recurring financial income | 75 | €57,850 | €47,497 | -€10,353 | -17.9% |
| Financial charges | 65/66B | €111,389 | €115,751 | +€4,362 | +3.9% |
| Recurring financial charges | 65 | €111,389 | €115,751 | +€4,362 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €413,970 | €313,070 | -€100,901 | -24.4% |
| Income taxes | 67/77 | €100,982 | €70,878 | -€30,103 | -29.8% |
| Profit (loss) for the period | 9904 | €312,989 | €242,191 | -€70,797 | -22.6% |
| Transfer to tax-exempt reserves | 689 | €210,500 | €126,300 | -€84,200 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €102,489 | €115,891 | +€13,403 | +13.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.