STAN: 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.
STAN
Largest movements
- Cash -€67,990
down €67,990 (-32.8%), from €207,385 to €139,396
mainly Debts after one year (-€76,848) and Other debts (-€25,897)
- Tangible fixed assets -€50,412
down €50,412 (-6.9%), from €726,669 to €676,257
- Deferred charges and accrued income +€12,500
up €12,500 (+198.2%), from €6,306 to €18,807
- Receivables within one year +€12,169
up €12,169 (+91.0%), from €13,373 to €25,542
of which Trade receivables: +€12,048
- Debts after one year -€76,848
down €76,848 (-16.7%), from €461,172 to €384,324
- Other debts -€25,897
down €25,897 (-50.6%), from €51,184 to €25,287
- Reserves +€24,831
up €24,831 (+7.3%), from €342,031 to €366,862
- Tax, wage and social debts -€19,297
down €19,297 (-46.8%), from €41,194 to €21,897
of which Taxes: -€18,627
- Staff costs +€31,684
up €31,684 (+12.2%), from €259,345 to €291,029
- Gross operating margin -€22,413
down €22,413 (-5.3%), from €423,713 to €401,300
- Taxes -€14,552
down €14,552 (-58.2%), from €25,013 to €10,461
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 | €980,482 | €883,129 | -€97,354 | -9.9% |
| Fixed assets | 21/28 | €726,669 | €676,257 | -€50,412 | -6.9% |
| Tangible fixed assets | 22/27 | €726,669 | €676,257 | -€50,412 | -6.9% |
| Land and buildings | 22 | €513,588 | €513,071 | -€517 | -0.1% |
| Plant, machinery and equipment | 23 | €66,117 | €42,568 | -€23,549 | -35.6% |
| Furniture and vehicles | 24 | €32,925 | €24,068 | -€8,856 | -26.9% |
| Other tangible fixed assets | 26 | €114,039 | €96,550 | -€17,489 | -15.3% |
| Current assets | 29/58 | €253,813 | €206,871 | -€46,942 | -18.5% |
| Stocks and contracts in progress | 3 | €26,749 | €23,127 | -€3,622 | -13.5% |
| Stocks | 30/36 | €26,749 | €23,127 | -€3,622 | -13.5% |
| Amounts receivable within one year | 40/41 | €13,373 | €25,542 | +€12,169 | +91.0% |
| Trade receivables | 40 | €5,797 | €17,845 | +€12,048 | +207.8% |
| Other amounts receivable | 41 | €7,576 | €7,697 | +€121 | +1.6% |
| Cash at bank and in hand | 54/58 | €207,385 | €139,396 | -€67,990 | -32.8% |
| Deferred charges and accrued income | 490/1 | €6,306 | €18,807 | +€12,500 | +198.2% |
| Total equity and liabilities | 10/49 | €980,482 | €883,129 | -€97,354 | -9.9% |
| Equity | 10/15 | €362,031 | €386,862 | +€24,831 | +6.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €342,031 | €366,862 | +€24,831 | +7.3% |
| Distributable reserves | 133 | €342,031 | €366,862 | +€24,831 | +7.3% |
| Amounts payable | 17/49 | €618,451 | €496,267 | -€122,184 | -19.8% |
| Amounts payable after more than one year | 17 | €461,172 | €384,324 | -€76,848 | -16.7% |
| Financial debts | 170/4 | €461,172 | €384,324 | -€76,848 | -16.7% |
| Amounts payable within one year | 42/48 | €155,929 | €111,218 | -€44,712 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €27,407 | €26,848 | -€559 | -2.0% |
| Trade debts | 44 | €32,734 | €33,552 | +€817 | +2.5% |
| Suppliers | 440/4 | €32,734 | €33,552 | +€817 | +2.5% |
| Advances received on contracts in progress | 46 | €3,411 | €3,634 | +€224 | +6.6% |
| Taxes, remuneration and social security | 45 | €41,194 | €21,897 | -€19,297 | -46.8% |
| Taxes | 450/3 | €25,645 | €7,019 | -€18,627 | -72.6% |
| Remuneration and social security | 454/9 | €15,549 | €14,878 | -€671 | -4.3% |
| Other amounts payable | 47/48 | €51,184 | €25,287 | -€25,897 | -50.6% |
| Accrued charges and deferred income | 492/3 | €1,350 | €725 | -€625 | -46.3% |
| Remuneration, social security and pensions | 62 | €259,345 | €291,029 | +€31,684 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,282 | €53,202 | -€1,081 | -2.0% |
| Other operating charges | 640/8 | €5,680 | €6,315 | +€635 | +11.2% |
| Gross operating margin | 9900 | €423,713 | €401,300 | -€22,413 | -5.3% |
| Operating profit (loss) | 9901 | €104,406 | €50,755 | -€53,651 | -51.4% |
| Financial income | 75/76B | €5,401 | €5,620 | +€219 | +4.1% |
| Recurring financial income | 75 | €5,401 | €5,620 | +€219 | +4.1% |
| Financial charges | 65/66B | €21,784 | €21,084 | -€700 | -3.2% |
| Recurring financial charges | 65 | €21,784 | €21,084 | -€700 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €88,023 | €35,292 | -€52,731 | -59.9% |
| Income taxes | 67/77 | €25,013 | €10,461 | -€14,552 | -58.2% |
| Profit (loss) for the period | 9904 | €63,010 | €24,831 | -€38,179 | -60.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,010 | €24,831 | -€38,179 | -60.6% |
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 7 October 2026 via checked.be.