Stad 10: 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.
Stad 10
Largest movements
- Tangible fixed assets -€13,828
down €13,828 (-11.8%), from €117,652 to €103,824
of which Land and buildings: -€7,193
- Trade debts -€13,972
down €13,972 (-95.6%), from €14,616 to €644
- Debts after one year -€9,511
down €9,511 (-37.6%), from €25,264 to €15,752
- Other debts +€7,466
up €7,466 (+10.0%), from €74,484 to €81,950
- Tax, wage and social debts -€3,427
down €3,427 (-18.6%), from €18,420 to €14,993
of which Remuneration and social security: -€2,787
- Reserves +€2,017
up €2,017 (+15.7%), from €12,861 to €14,878
of which Distributable reserves: +€2,017
- Gross operating margin -€66,507
down €66,507 (-38.9%), from €171,056 to €104,550
- Staff costs -€30,537
down €30,537 (-33.4%), from €91,467 to €60,930
- Depreciation +€2,241
up €2,241 (+13.2%), from €17,033 to €19,274
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 | €198,865 | €182,388 | -€16,478 | -8.3% |
| Fixed assets | 21/28 | €117,985 | €103,978 | -€14,007 | -11.9% |
| Intangible fixed assets | 21 | €179 | - | -€179 | |
| Tangible fixed assets | 22/27 | €117,652 | €103,824 | -€13,828 | -11.8% |
| Land and buildings | 22 | €72,001 | €64,808 | -€7,193 | -10.0% |
| Plant, machinery and equipment | 23 | €20,635 | €16,875 | -€3,760 | -18.2% |
| Furniture and vehicles | 24 | €25,016 | €22,141 | -€2,875 | -11.5% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €80,880 | €78,409 | -€2,471 | -3.1% |
| Stocks and contracts in progress | 3 | €31,000 | €31,000 | = | 0.0% |
| Stocks | 30/36 | €31,000 | €31,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €957 | €416 | -€541 | -56.5% |
| Trade receivables | 40 | - | €300 | +€300 | |
| Other amounts receivable | 41 | €957 | €116 | -€841 | -87.9% |
| Cash at bank and in hand | 54/58 | €48,923 | €46,993 | -€1,930 | -3.9% |
| Total equity and liabilities | 10/49 | €198,865 | €182,388 | -€16,478 | -8.3% |
| Equity | 10/15 | €57,481 | €59,498 | +€2,017 | +3.5% |
| Contributions | 10/11 | €44,620 | €44,620 | = | 0.0% |
| Reserves | 13 | €12,861 | €14,878 | +€2,017 | +15.7% |
| Non-distributable reserves | 130/1 | €4,462 | €4,462 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,462 | €4,462 | = | 0.0% |
| Distributable reserves | 133 | €8,399 | €10,416 | +€2,017 | +24.0% |
| Amounts payable | 17/49 | €141,384 | €122,889 | -€18,495 | -13.1% |
| Amounts payable after more than one year | 17 | €25,264 | €15,752 | -€9,511 | -37.6% |
| Financial debts | 170/4 | €25,264 | €15,752 | -€9,511 | -37.6% |
| Amounts payable within one year | 42/48 | €116,120 | €106,787 | -€9,334 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €8,600 | €9,200 | +€600 | +7.0% |
| Trade debts | 44 | €14,616 | €644 | -€13,972 | -95.6% |
| Suppliers | 440/4 | €14,616 | €644 | -€13,972 | -95.6% |
| Taxes, remuneration and social security | 45 | €18,420 | €14,993 | -€3,427 | -18.6% |
| Taxes | 450/3 | €12,022 | €11,381 | -€640 | -5.3% |
| Remuneration and social security | 454/9 | €6,399 | €3,612 | -€2,787 | -43.6% |
| Other amounts payable | 47/48 | €74,484 | €81,950 | +€7,466 | +10.0% |
| Accrued charges and deferred income | 492/3 | - | €350 | +€350 | |
| Remuneration, social security and pensions | 62 | €91,467 | €60,930 | -€30,537 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,033 | €19,274 | +€2,241 | +13.2% |
| Other operating charges | 640/8 | €1,714 | €1,966 | +€251 | +14.6% |
| Gross operating margin | 9900 | €171,056 | €104,550 | -€66,507 | -38.9% |
| Operating profit (loss) | 9901 | €60,842 | €22,380 | -€38,462 | -63.2% |
| Financial income | 75/76B | €151 | €1 | -€150 | -99.3% |
| Recurring financial income | 75 | €151 | €1 | -€150 | -99.3% |
| Financial charges | 65/66B | €3,530 | €2,659 | -€871 | -24.7% |
| Recurring financial charges | 65 | €3,530 | €2,659 | -€871 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €57,463 | €19,722 | -€37,741 | -65.7% |
| Income taxes | 67/77 | €1,856 | €2,705 | +€848 | +45.7% |
| Profit (loss) for the period | 9904 | €55,606 | €17,017 | -€38,589 | -69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,606 | €17,017 | -€38,589 | -69.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.