St1: 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.
St1
Largest movements
- Cash -€313,874
down €313,874 (-99.0%), from €316,908 to €3,034
mainly Other debts (-€298,730) and Tax, wage and social debts (-€22,368)
- Tangible fixed assets -€19,273
down €19,273 (-4.5%), from €429,950 to €410,677
- Receivables within one year -€12,627
down €12,627 (-75.6%), from €16,698 to €4,071
of which Trade receivables: -€14,290
- Other debts -€298,730
down €298,730 (-43.5%), from €687,225 to €388,495
- Tax, wage and social debts -€22,368
down €22,368 (-90.7%), from €24,667 to €2,299
- Trade debts -€18,969
down €18,969 (-100.0%), from €18,969 to €0
- Reserves -€8,042
down €8,042 (-28.4%), from €28,316 to €20,274
- Gross operating margin -€44,034
down €44,034 (-66.6%), from €66,080 to €22,046
- Write-downs +€7,920
new in 2026: €7,920
- Taxes -€3,968
down €3,968 (-100.0%), from €3,968 to €0
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €764,176 | €418,058 | -€346,119 | -45.3% |
| Fixed assets | 21/28 | €429,950 | €410,677 | -€19,273 | -4.5% |
| Tangible fixed assets | 22/27 | €429,950 | €410,677 | -€19,273 | -4.5% |
| Land and buildings | 22 | €429,950 | €410,677 | -€19,273 | -4.5% |
| Current assets | 29/58 | €334,226 | €7,381 | -€326,846 | -97.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €16,698 | €4,071 | -€12,627 | -75.6% |
| Trade receivables | 40 | €16,698 | €2,408 | -€14,290 | -85.6% |
| Other amounts receivable | 41 | €0 | €1,663 | +€1,663 | |
| Cash at bank and in hand | 54/58 | €316,908 | €3,034 | -€313,874 | -99.0% |
| Deferred charges and accrued income | 490/1 | €620 | €275 | -€345 | -55.6% |
| Total equity and liabilities | 10/49 | €764,176 | €418,058 | -€346,119 | -45.3% |
| Equity | 10/15 | €33,316 | €25,274 | -€8,042 | -24.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €28,316 | €20,274 | -€8,042 | -28.4% |
| Distributable reserves | 133 | €28,316 | €20,274 | -€8,042 | -28.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €730,861 | €392,784 | -€338,077 | -46.3% |
| Amounts payable within one year | 42/48 | €730,861 | €390,794 | -€340,067 | -46.5% |
| Trade debts | 44 | €18,969 | €0 | -€18,969 | -100.0% |
| Suppliers | 440/4 | €18,969 | €0 | -€18,969 | -100.0% |
| Taxes, remuneration and social security | 45 | €24,667 | €2,299 | -€22,368 | -90.7% |
| Taxes | 450/3 | €24,667 | €2,299 | -€22,368 | -90.7% |
| Other amounts payable | 47/48 | €687,225 | €388,495 | -€298,730 | -43.5% |
| Accrued charges and deferred income | 492/3 | - | €1,990 | +€1,990 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,273 | €19,273 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,920 | +€7,920 | |
| Other operating charges | 640/8 | €2,443 | €2,837 | +€393 | +16.1% |
| Gross operating margin | 9900 | €66,080 | €22,046 | -€44,034 | -66.6% |
| Operating profit (loss) | 9901 | €44,363 | -€7,984 | -€52,347 | |
| Financial income | 75/76B | €103 | €0 | -€103 | -100.0% |
| Recurring financial income | 75 | €103 | €0 | -€103 | -100.0% |
| Financial charges | 65/66B | €21 | €58 | +€37 | +176.7% |
| Recurring financial charges | 65 | €21 | €58 | +€37 | +176.7% |
| Profit (loss) for the period before taxes | 9903 | €44,446 | -€8,042 | -€52,488 | |
| Income taxes | 67/77 | €3,968 | €0 | -€3,968 | -100.0% |
| Profit (loss) for the period | 9904 | €40,477 | -€8,042 | -€48,519 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,477 | -€8,042 | -€48,519 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.