STAN: 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.
STAN
Largest movements
- Tangible fixed assets -€135,049
down €135,049 (-90.3%), from €149,528 to €14,479
of which Land and buildings: -€139,860
- Receivables within one year +€53,600
up €53,600 (+99.1%), from €54,094 to €107,693
- Cash +€46,567
up €46,567 (+359%), from €12,980 to €59,548
mainly Investment in fixed assets (net) (+€134,860) and Net result for the year (+€81,239)
- Debts after one year -€130,111
down €130,111 (-100%), from €130,111 to €0
- Reserves +€81,239
up €81,239 (+151%), from €53,770 to €135,009
of which Tax-exempt reserves: +€71,355
- Provisions +€23,785
new in 2025: €23,785
- Current portion of long-term debt -€7,049
down €7,049 (-100%), from €7,049 to €0
- Tax, wage and social debts -€2,410
down €2,410 (-40.9%), from €5,888 to €3,478
- Gross operating margin +€106,838
up €106,838 (+788%), from €13,558 to €120,396
- Financial charges +€5,066
up €5,066 (+139%), from €3,632 to €8,698
- Depreciation -€4,781
down €4,781 (-96.2%), from €4,970 to €189
- Taxes +€2,773
up €2,773 (+393%), from €705 to €3,478
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.
Derived cash bridge
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 | €216,912 | €181,720 | -€35,193 | -16.2% |
| Fixed assets | 21/28 | €149,528 | €14,479 | -€135,049 | -90.3% |
| Tangible fixed assets | 22/27 | €149,528 | €14,479 | -€135,049 | -90.3% |
| Land and buildings | 22 | €149,528 | €9,668 | -€139,860 | -93.5% |
| Plant, machinery and equipment | 23 | - | €4,811 | +€4,811 | |
| Current assets | 29/58 | €67,384 | €167,241 | +€99,856 | +148% |
| Amounts receivable within one year | 40/41 | €54,094 | €107,693 | +€53,600 | +99.1% |
| Other amounts receivable | 41 | €54,094 | €107,693 | +€53,600 | +99.1% |
| Cash at bank and in hand | 54/58 | €12,980 | €59,548 | +€46,567 | +359% |
| Deferred charges and accrued income | 490/1 | €311 | €0 | -€311 | -100% |
| Total equity and liabilities | 10/49 | €216,912 | €181,720 | -€35,193 | -16.2% |
| Equity | 10/15 | €72,362 | €153,601 | +€81,239 | +112% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €53,770 | €135,009 | +€81,239 | +151% |
| Tax-exempt reserves | 132 | - | €71,355 | +€71,355 | |
| Distributable reserves | 133 | €53,770 | €63,654 | +€9,884 | +18.4% |
| Provisions and deferred taxes | 16 | - | €23,785 | +€23,785 | |
| Deferred taxes | 168 | - | €23,785 | +€23,785 | |
| Amounts payable | 17/49 | €144,550 | €4,334 | -€140,216 | -97.0% |
| Amounts payable after more than one year | 17 | €130,111 | €0 | -€130,111 | -100% |
| Financial debts | 170/4 | €130,111 | €0 | -€130,111 | -100% |
| Amounts payable within one year | 42/48 | €14,439 | €4,334 | -€10,105 | -70.0% |
| Current portion of amounts payable after more than one year | 42 | €7,049 | €0 | -€7,049 | -100% |
| Trade debts | 44 | €1,502 | €0 | -€1,502 | -100% |
| Suppliers | 440/4 | €1,502 | €0 | -€1,502 | -100% |
| Taxes, remuneration and social security | 45 | €5,888 | €3,478 | -€2,410 | -40.9% |
| Taxes | 450/3 | €5,888 | €3,478 | -€2,410 | -40.9% |
| Other amounts payable | 47/48 | €0 | €856 | +€856 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,970 | €189 | -€4,781 | -96.2% |
| Other operating charges | 640/8 | €2,385 | €3,007 | +€623 | +26.1% |
| Gross operating margin | 9900 | €13,558 | €120,396 | +€106,838 | +788% |
| Operating profit (loss) | 9901 | €6,202 | €117,199 | +€110,997 | +1,790% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €3,632 | €8,698 | +€5,066 | +139% |
| Recurring financial charges | 65 | €3,632 | €8,698 | +€5,066 | +139% |
| Profit (loss) for the period before taxes | 9903 | €2,571 | €108,501 | +€105,930 | +4,120% |
| Transfer to deferred taxes | 680 | - | €23,785 | +€23,785 | |
| Income taxes | 67/77 | €705 | €3,478 | +€2,773 | +393% |
| Profit (loss) for the period | 9904 | €1,866 | €81,239 | +€79,372 | +4,253% |
| Transfer to tax-exempt reserves | 689 | - | €71,355 | +€71,355 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,866 | €9,884 | +€8,017 | +430% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.