STABLEGEAR: 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.
STABLEGEAR
Largest movements
- Receivables within one year -€194,892
down €194,892 (-94.0%), from €207,227 to €12,335
of which Trade receivables: -€186,653
- Stocks and contracts -€55,791
down €55,791 (-26.7%), from €208,750 to €152,960
- Cash -€26,068
down €26,068 (-88.7%), from €29,385 to €3,317
mainly Net result for the year (-€139,648) and Short-term financial debts (-€94,500)
- Tangible fixed assets -€6,057
down €6,057 (-50.8%), from €11,932 to €5,876
- Profit (loss) carried forward -€139,648
down €139,648, from €42,327 to -€97,321
- Short-term financial debts -€94,500
no longer reported in 2025 (was €94,500)
- Other debts -€38,568
down €38,568 (-59.6%), from €64,755 to €26,187
- Tax, wage and social debts -€24,384
down €24,384 (-69.6%), from €35,019 to €10,635
- Trade debts +€23,505
up €23,505 (+23.8%), from €98,794 to €122,299
- Gross operating margin -€122,078
down €122,078, from €43,028 to -€79,051
- Write-downs +€39,547
new in 2025: €39,547
- Taxes -€4,817
no longer reported in 2025 (was €4,817)
- Other operating charges +€2,763
up €2,763 (+132.4%), from €2,087 to €4,850
- Depreciation -€2,073
down €2,073 (-25.0%), from €8,301 to €6,227
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 | €462,156 | €178,911 | -€283,245 | -61.3% |
| Fixed assets | 21/28 | €14,452 | €8,396 | -€6,057 | -41.9% |
| Tangible fixed assets | 22/27 | €11,932 | €5,876 | -€6,057 | -50.8% |
| Furniture and vehicles | 24 | €11,932 | €5,876 | -€6,057 | -50.8% |
| Financial fixed assets | 28 | €2,520 | €2,520 | = | 0.0% |
| Current assets | 29/58 | €447,703 | €170,515 | -€277,188 | -61.9% |
| Stocks and contracts in progress | 3 | €208,750 | €152,960 | -€55,791 | -26.7% |
| Stocks | 30/36 | €208,750 | €152,960 | -€55,791 | -26.7% |
| Amounts receivable within one year | 40/41 | €207,227 | €12,335 | -€194,892 | -94.0% |
| Trade receivables | 40 | €197,336 | €10,683 | -€186,653 | -94.6% |
| Other amounts receivable | 41 | €9,892 | €1,652 | -€8,239 | -83.3% |
| Cash at bank and in hand | 54/58 | €29,385 | €3,317 | -€26,068 | -88.7% |
| Deferred charges and accrued income | 490/1 | €2,341 | €1,904 | -€437 | -18.7% |
| Total equity and liabilities | 10/49 | €462,156 | €178,911 | -€283,245 | -61.3% |
| Equity | 10/15 | €156,107 | €16,459 | -€139,648 | -89.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €93,780 | €93,780 | = | 0.0% |
| Distributable reserves | 133 | €93,780 | €93,780 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,327 | -€97,321 | -€139,648 | |
| Amounts payable | 17/49 | €306,049 | €162,452 | -€143,597 | -46.9% |
| Amounts payable within one year | 42/48 | €303,895 | €161,576 | -€142,319 | -46.8% |
| Financial debts | 43 | €94,500 | - | -€94,500 | |
| Credit institutions | 430/8 | €94,500 | - | -€94,500 | |
| Trade debts | 44 | €98,794 | €122,299 | +€23,505 | +23.8% |
| Suppliers | 440/4 | €98,794 | €122,299 | +€23,505 | +23.8% |
| Advances received on contracts in progress | 46 | €10,826 | €2,455 | -€8,372 | -77.3% |
| Taxes, remuneration and social security | 45 | €35,019 | €10,635 | -€24,384 | -69.6% |
| Taxes | 450/3 | €35,019 | €10,635 | -€24,384 | -69.6% |
| Other amounts payable | 47/48 | €64,755 | €26,187 | -€38,568 | -59.6% |
| Accrued charges and deferred income | 492/3 | €2,154 | €876 | -€1,278 | -59.3% |
| Non-recurring operating income | 76A | - | €17 | +€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,301 | €6,227 | -€2,073 | -25.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €39,547 | +€39,547 | |
| Other operating charges | 640/8 | €2,087 | €4,850 | +€2,763 | +132.4% |
| Non-recurring operating charges | 66A | - | €2,880 | +€2,880 | |
| Gross operating margin | 9900 | €43,028 | -€79,051 | -€122,078 | |
| Operating profit (loss) | 9901 | €32,640 | -€132,554 | -€165,194 | |
| Financial income | 75/76B | €48 | €34 | -€14 | -28.4% |
| Recurring financial income | 75 | €48 | €34 | -€14 | -28.4% |
| Financial charges | 65/66B | €8,014 | €7,128 | -€886 | -11.1% |
| Recurring financial charges | 65 | €8,014 | €6,629 | -€1,385 | -17.3% |
| Non-recurring financial charges | 66B | - | €499 | +€499 | |
| Profit (loss) for the period before taxes | 9903 | €24,674 | -€139,648 | -€164,322 | |
| Income taxes | 67/77 | €4,817 | - | -€4,817 | |
| Profit (loss) for the period | 9904 | €19,857 | -€139,648 | -€159,505 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,857 | -€139,648 | -€159,505 |
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 9 October 2026 via checked.be.