STAES - VAN CAMP: 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.
STAES - VAN CAMP
Largest movements
- Intangible fixed assets -€56,092
no longer reported in 2025 (was €56,092)
- Cash +€47,822
up €47,822 (+30.7%), from €156,012 to €203,834
mainly Trade debts (+€117,102) and Depreciation (+€84,235)
- Receivables within one year +€40,704
up €40,704 (+24.0%), from €169,763 to €210,468
of which Trade receivables: +€28,266
- Deferred charges and accrued income +€24,268
up €24,268 (+6004.3%), from €404 to €24,672
- Tangible fixed assets -€23,104
down €23,104 (-21.8%), from €106,130 to €83,026
of which Furniture and vehicles: -€23,263
- Trade debts +€117,102
up €117,102 (+232.4%), from €50,380 to €167,482
- Reserves -€62,236
down €62,236 (-13.9%), from €446,346 to €384,110
of which Distributable reserves: -€62,236
- Other debts +€20,840
up €20,840 (+27.6%), from €75,630 to €96,470
- Current portion of long-term debt -€14,815
no longer reported in 2025 (was €14,815)
- Tax, wage and social debts -€7,717
down €7,717 (-21.2%), from €36,471 to €28,754
of which Taxes: -€10,741
- Gross operating margin -€42,956
down €42,956 (-11.0%), from €389,557 to €346,602
- Financial charges +€37,358
up €37,358 (+40.3%), from €92,595 to €129,953
- Taxes -€29,937
down €29,937 (-62.3%), from €48,053 to €18,116
- Staff costs +€22,144
up €22,144 (+42.1%), from €52,598 to €74,742
- Depreciation -€4,540
down €4,540 (-5.1%), from €88,775 to €84,235
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 | €623,642 | €676,816 | +€53,174 | +8.5% |
| Fixed assets | 21/28 | €162,222 | €83,026 | -€79,197 | -48.8% |
| Intangible fixed assets | 21 | €56,092 | - | -€56,092 | |
| Tangible fixed assets | 22/27 | €106,130 | €83,026 | -€23,104 | -21.8% |
| Plant, machinery and equipment | 23 | €23,495 | €23,653 | +€158 | +0.7% |
| Furniture and vehicles | 24 | €82,635 | €59,372 | -€23,263 | -28.2% |
| Current assets | 29/58 | €461,420 | €593,790 | +€132,371 | +28.7% |
| Stocks and contracts in progress | 3 | €135,240 | €154,816 | +€19,576 | +14.5% |
| Stocks | 30/36 | €135,240 | €154,816 | +€19,576 | +14.5% |
| Amounts receivable within one year | 40/41 | €169,763 | €210,468 | +€40,704 | +24.0% |
| Trade receivables | 40 | €168,924 | €197,190 | +€28,266 | +16.7% |
| Other amounts receivable | 41 | €839 | €13,277 | +€12,438 | +1482.1% |
| Cash at bank and in hand | 54/58 | €156,012 | €203,834 | +€47,822 | +30.7% |
| Deferred charges and accrued income | 490/1 | €404 | €24,672 | +€24,268 | +6004.3% |
| Total equity and liabilities | 10/49 | €623,642 | €676,816 | +€53,174 | +8.5% |
| Equity | 10/15 | €446,346 | €384,110 | -€62,236 | -13.9% |
| Reserves | 13 | €446,346 | €384,110 | -€62,236 | -13.9% |
| Non-distributable reserves | 130/1 | €3,250 | €3,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,250 | €3,250 | = | 0.0% |
| Distributable reserves | 133 | €443,096 | €380,860 | -€62,236 | -14.0% |
| Amounts payable | 17/49 | €177,296 | €292,706 | +€115,410 | +65.1% |
| Amounts payable within one year | 42/48 | €177,296 | €292,706 | +€115,410 | +65.1% |
| Current portion of amounts payable after more than one year | 42 | €14,815 | - | -€14,815 | |
| Trade debts | 44 | €50,380 | €167,482 | +€117,102 | +232.4% |
| Suppliers | 440/4 | €50,380 | €167,482 | +€117,102 | +232.4% |
| Taxes, remuneration and social security | 45 | €36,471 | €28,754 | -€7,717 | -21.2% |
| Taxes | 450/3 | €28,811 | €18,070 | -€10,741 | -37.3% |
| Remuneration and social security | 454/9 | €7,660 | €10,684 | +€3,024 | +39.5% |
| Other amounts payable | 47/48 | €75,630 | €96,470 | +€20,840 | +27.6% |
| Remuneration, social security and pensions | 62 | €52,598 | €74,742 | +€22,144 | +42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,775 | €84,235 | -€4,540 | -5.1% |
| Other operating charges | 640/8 | €432 | €568 | +€136 | +31.4% |
| Gross operating margin | 9900 | €389,557 | €346,602 | -€42,956 | -11.0% |
| Operating profit (loss) | 9901 | €247,752 | €187,056 | -€60,696 | -24.5% |
| Financial income | 75/76B | €128 | €181 | +€54 | +42.0% |
| Recurring financial income | 75 | €128 | €181 | +€54 | +42.0% |
| Financial charges | 65/66B | €92,595 | €129,953 | +€37,358 | +40.3% |
| Recurring financial charges | 65 | €92,595 | €129,953 | +€37,358 | +40.3% |
| Profit (loss) for the period before taxes | 9903 | €155,285 | €57,284 | -€98,001 | -63.1% |
| Income taxes | 67/77 | €48,053 | €18,116 | -€29,937 | -62.3% |
| Profit (loss) for the period | 9904 | €107,232 | €39,168 | -€68,064 | -63.5% |
| Profit (loss) for the period to be appropriated | 9905 | €107,232 | €39,168 | -€68,064 | -63.5% |
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 8 October 2026 via checked.be.