STAGHILL: 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.
STAGHILL
Largest movements
- Receivables within one year -€55,846
down €55,846 (-87.2%), from €64,051 to €8,206
of which Trade receivables: -€36,628
- Tangible fixed assets -€7,558
down €7,558 (-50.9%), from €14,847 to €7,289
- Deferred charges and accrued income -€6,045
down €6,045 (-85.8%), from €7,042 to €998
- Intangible fixed assets -€1,817
down €1,817 (-71.6%), from €2,538 to €721
- Profit (loss) carried forward -€62,896
new in 2025: -€62,896
- Other debts +€4,839
up €4,839 (+9.0%), from €54,061 to €58,901
- Trade debts -€4,624
down €4,624 (-33.6%), from €13,753 to €9,129
- Reserves -€3,605
no longer reported in 2025 (was €3,605)
- Accrued charges and deferred income -€3,067
down €3,067 (-97.9%), from €3,132 to €65
- Gross operating margin -€40,693
down €40,693 (-81.3%), from €50,046 to €9,353
- Write-downs +€37,157
new in 2025: €37,157
- Staff costs +€2,921
up €2,921 (+11.5%), from €25,397 to €28,317
- Depreciation +€2,519
up €2,519 (+36.7%), from €6,857 to €9,375
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 | €90,374 | €19,274 | -€71,100 | -78.7% |
| Fixed assets | 21/28 | €17,536 | €8,160 | -€9,375 | -53.5% |
| Intangible fixed assets | 21 | €2,538 | €721 | -€1,817 | -71.6% |
| Tangible fixed assets | 22/27 | €14,847 | €7,289 | -€7,558 | -50.9% |
| Furniture and vehicles | 24 | €14,847 | €7,289 | -€7,558 | -50.9% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €72,839 | €11,114 | -€61,725 | -84.7% |
| Amounts receivable within one year | 40/41 | €64,051 | €8,206 | -€55,846 | -87.2% |
| Trade receivables | 40 | €44,830 | €8,203 | -€36,628 | -81.7% |
| Other amounts receivable | 41 | €19,221 | €3 | -€19,218 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,745 | €1,911 | +€166 | +9.5% |
| Deferred charges and accrued income | 490/1 | €7,042 | €998 | -€6,045 | -85.8% |
| Total equity and liabilities | 10/49 | €90,374 | €19,274 | -€71,100 | -78.7% |
| Equity | 10/15 | €5,605 | -€60,896 | -€66,501 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €3,605 | - | -€3,605 | |
| Distributable reserves | 133 | €3,605 | - | -€3,605 | |
| Profit (loss) carried forward | 14 | - | -€62,896 | -€62,896 | |
| Amounts payable | 17/49 | €84,770 | €80,171 | -€4,599 | -5.4% |
| Amounts payable within one year | 42/48 | €81,638 | €80,105 | -€1,532 | -1.9% |
| Trade debts | 44 | €13,753 | €9,129 | -€4,624 | -33.6% |
| Suppliers | 440/4 | €13,753 | €9,129 | -€4,624 | -33.6% |
| Advances received on contracts in progress | 46 | €900 | €797 | -€103 | -11.4% |
| Taxes, remuneration and social security | 45 | €12,923 | €11,278 | -€1,645 | -12.7% |
| Taxes | 450/3 | €11,090 | €11,278 | +€188 | +1.7% |
| Remuneration and social security | 454/9 | €1,833 | - | -€1,833 | |
| Other amounts payable | 47/48 | €54,061 | €58,901 | +€4,839 | +9.0% |
| Accrued charges and deferred income | 492/3 | €3,132 | €65 | -€3,067 | -97.9% |
| Remuneration, social security and pensions | 62 | €25,397 | €28,317 | +€2,921 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,857 | €9,375 | +€2,519 | +36.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €37,157 | +€37,157 | |
| Other operating charges | 640/8 | €188 | €118 | -€70 | -37.2% |
| Gross operating margin | 9900 | €50,046 | €9,353 | -€40,693 | -81.3% |
| Operating profit (loss) | 9901 | €17,605 | -€65,614 | -€83,219 | |
| Financial income | 75/76B | €184 | €49 | -€136 | -73.7% |
| Recurring financial income | 75 | €184 | €49 | -€136 | -73.7% |
| Financial charges | 65/66B | €879 | €935 | +€56 | +6.3% |
| Recurring financial charges | 65 | €879 | €935 | +€56 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €16,910 | -€66,501 | -€83,411 | |
| Profit (loss) for the period | 9904 | €16,910 | -€66,501 | -€83,411 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,910 | -€66,501 | -€83,411 |
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.