Stagheart: 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.
Stagheart
Largest movements
- Cash +€27,439
up €27,439 (+55.3%), from €49,579 to €77,017
mainly Net result for the year (+€30,039) and Receivables within one year (+€1,711)
- Receivables within one year -€1,711
down €1,711 (-13.2%), from €12,999 to €11,288
of which Trade receivables: -€1,719
- Tangible fixed assets +€1,697
new in 2026: €1,697
- Reserves +€29,500
up €29,500 (+96.7%), from €30,500 to €60,000
- Tax, wage and social debts -€1,800
down €1,800 (-8.3%), from €21,624 to €19,825
- Financial income -€599
down €599 (-99.8%), from €600 to €1
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.
Derived cash bridge
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 | €63,126 | €91,182 | +€28,056 | +44.4% |
| Fixed assets | 21/28 | - | €1,697 | +€1,697 | |
| Tangible fixed assets | 22/27 | - | €1,697 | +€1,697 | |
| Furniture and vehicles | 24 | - | €1,697 | +€1,697 | |
| Current assets | 29/58 | €63,126 | €89,484 | +€26,358 | +41.8% |
| Amounts receivable within one year | 40/41 | €12,999 | €11,288 | -€1,711 | -13.2% |
| Trade receivables | 40 | €12,999 | €11,280 | -€1,719 | -13.2% |
| Other amounts receivable | 41 | - | €8 | +€8 | |
| Cash at bank and in hand | 54/58 | €49,579 | €77,017 | +€27,439 | +55.3% |
| Deferred charges and accrued income | 490/1 | €548 | €1,178 | +€631 | +115% |
| Total equity and liabilities | 10/49 | €63,126 | €91,182 | +€28,056 | +44.4% |
| Equity | 10/15 | €35,646 | €65,686 | +€30,039 | +84.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,500 | €60,000 | +€29,500 | +96.7% |
| Distributable reserves | 133 | €30,500 | €60,000 | +€29,500 | +96.7% |
| Profit (loss) carried forward | 14 | €146 | €686 | +€539 | +368% |
| Amounts payable | 17/49 | €27,479 | €25,496 | -€1,983 | -7.2% |
| Amounts payable within one year | 42/48 | €27,479 | €25,496 | -€1,983 | -7.2% |
| Trade debts | 44 | - | €277 | +€277 | |
| Suppliers | 440/4 | - | €277 | +€277 | |
| Taxes, remuneration and social security | 45 | €21,624 | €19,825 | -€1,800 | -8.3% |
| Taxes | 450/3 | €21,624 | €19,825 | -€1,800 | -8.3% |
| Other amounts payable | 47/48 | €5,855 | €5,394 | -€461 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €413 | +€413 | |
| Other operating charges | 640/8 | €1,553 | €1,608 | +€55 | +3.6% |
| Gross operating margin | 9900 | €43,333 | €43,702 | +€370 | +0.9% |
| Operating profit (loss) | 9901 | €41,779 | €41,681 | -€98 | -0.2% |
| Financial income | 75/76B | €600 | €1 | -€599 | -99.8% |
| Recurring financial income | 75 | €600 | €1 | -€599 | -99.8% |
| Financial charges | 65/66B | €46 | €86 | +€40 | +87.5% |
| Recurring financial charges | 65 | €46 | €86 | +€40 | +87.5% |
| Profit (loss) for the period before taxes | 9903 | €42,333 | €41,596 | -€738 | -1.7% |
| Income taxes | 67/77 | €11,687 | €11,557 | -€130 | -1.1% |
| Profit (loss) for the period | 9904 | €30,646 | €30,039 | -€607 | -2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,646 | €30,039 | -€607 | -2.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.