Stac 2: 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.
Stac 2
Largest movements
- Current investments +€130,000
new in 2026: €130,000
- Receivables within one year -€53,799
down €53,799 (-18.1%), from €296,808 to €243,009
of which Other amounts receivable: -€52,313
- Cash -€41,289
down €41,289 (-46.8%), from €88,257 to €46,968
mainly Current investments (-€130,000) and Debts after one year (-€74,493)
- Stocks and contracts -€19,545
down €19,545 (-8.0%), from €245,256 to €225,711
- Debts after one year -€74,493
no longer reported in 2026 (was €74,493)
- Current portion of long-term debt +€38,568
up €38,568 (+109.2%), from €35,315 to €73,883
- Profit (loss) carried forward +€38,061
up €38,061 (+23.6%), from -€161,324 to -€123,263
- Reserves +€34,494
up €34,494 (+8.3%), from €413,933 to €448,427
- Revaluation surpluses -€34,494
down €34,494 (-4.6%), from €757,219 to €722,725
- Taxes +€18,353
up €18,353 (+100.7%), from €18,232 to €36,585
- Gross operating margin +€4,483
up €4,483 (+3.5%), from €127,511 to €131,994
- Depreciation +€2,393
up €2,393 (+6.5%), from €36,790 to €39,183
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 | €1,609,280 | €1,601,922 | -€7,358 | -0.5% |
| Fixed assets | 21/28 | €963,811 | €949,634 | -€14,177 | -1.5% |
| Tangible fixed assets | 22/27 | €963,254 | €948,863 | -€14,391 | -1.5% |
| Land and buildings | 22 | €958,424 | €945,223 | -€13,201 | -1.4% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €4,830 | €3,641 | -€1,189 | -24.6% |
| Financial fixed assets | 28 | €557 | €771 | +€214 | +38.4% |
| Current assets | 29/58 | €645,469 | €652,288 | +€6,819 | +1.1% |
| Stocks and contracts in progress | 3 | €245,256 | €225,711 | -€19,545 | -8.0% |
| Stocks | 30/36 | €245,256 | €225,711 | -€19,545 | -8.0% |
| Amounts receivable within one year | 40/41 | €296,808 | €243,009 | -€53,799 | -18.1% |
| Trade receivables | 40 | €3,893 | €2,407 | -€1,486 | -38.2% |
| Other amounts receivable | 41 | €292,915 | €240,602 | -€52,313 | -17.9% |
| Current investments | 50/53 | - | €130,000 | +€130,000 | |
| Cash at bank and in hand | 54/58 | €88,257 | €46,968 | -€41,289 | -46.8% |
| Deferred charges and accrued income | 490/1 | €15,148 | €6,600 | -€8,548 | -56.4% |
| Total equity and liabilities | 10/49 | €1,609,280 | €1,601,922 | -€7,358 | -0.5% |
| Equity | 10/15 | €1,468,431 | €1,506,493 | +€38,062 | +2.6% |
| Contributions | 10/11 | €458,603 | €458,603 | +€0 | 0.0% |
| Capital | 10 | €458,603 | €458,603 | +€0 | 0.0% |
| Issued capital | 100 | €458,603 | €458,603 | +€0 | 0.0% |
| Revaluation surpluses | 12 | €757,219 | €722,725 | -€34,494 | -4.6% |
| Reserves | 13 | €413,933 | €448,427 | +€34,494 | +8.3% |
| Non-distributable reserves | 130/1 | €413,933 | €448,427 | +€34,494 | +8.3% |
| Other | 1319 | €413,933 | €448,427 | +€34,494 | +8.3% |
| Profit (loss) carried forward | 14 | -€161,324 | -€123,263 | +€38,061 | +23.6% |
| Amounts payable | 17/49 | €140,849 | €95,429 | -€45,420 | -32.2% |
| Amounts payable after more than one year | 17 | €74,493 | - | -€74,493 | |
| Financial debts | 170/4 | €74,493 | - | -€74,493 | |
| Amounts payable within one year | 42/48 | €66,356 | €95,429 | +€29,073 | +43.8% |
| Current portion of amounts payable after more than one year | 42 | €35,315 | €73,883 | +€38,568 | +109.2% |
| Trade debts | 44 | €6,000 | €134 | -€5,866 | -97.8% |
| Suppliers | 440/4 | €6,000 | €134 | -€5,866 | -97.8% |
| Taxes, remuneration and social security | 45 | €3,324 | €4,866 | +€1,542 | +46.4% |
| Taxes | 450/3 | €3,324 | €4,866 | +€1,542 | +46.4% |
| Other amounts payable | 47/48 | €21,717 | €16,547 | -€5,170 | -23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,790 | €39,183 | +€2,393 | +6.5% |
| Other operating charges | 640/8 | €17,488 | €16,933 | -€555 | -3.2% |
| Gross operating margin | 9900 | €127,511 | €131,994 | +€4,483 | +3.5% |
| Operating profit (loss) | 9901 | €73,233 | €75,877 | +€2,644 | +3.6% |
| Financial income | 75/76B | €1,719 | €1,957 | +€238 | +13.8% |
| Recurring financial income | 75 | €1,719 | €1,957 | +€238 | +13.8% |
| Financial charges | 65/66B | €3,888 | €3,188 | -€700 | -18.0% |
| Recurring financial charges | 65 | €3,888 | €3,188 | -€700 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €71,064 | €74,646 | +€3,582 | +5.0% |
| Income taxes | 67/77 | €18,232 | €36,585 | +€18,353 | +100.7% |
| Profit (loss) for the period | 9904 | €52,832 | €38,062 | -€14,770 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,832 | €38,062 | -€14,770 | -28.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.