STAN Invest: what changed
What changed
STAN Invest
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€2.7m
2024 · -€546,408+€3.2m
Equity
€9.2m
2024 · €6.6m+€2.7m
Cash
€2.1m
2024 · €655,946+€1.5m
Balance sheet total
€18.4m
2024 · €17.3m+€1.1m
Largest movements
Assets
- Cash +€1.5m
up €1.5m (+226%), from €655,946 to €2.1m
mainly Net result for the year (+€2.7m) and Depreciation (+€871,175)
- Financial fixed assets -€528,160
down €528,160 (-51.8%), from €1.0m to €491,942
- Tangible fixed assets -€414,219
down €414,219 (-2.9%), from €14.2m to €13.8m
of which Land and buildings: -€456,079
- Receivables within one year +€370,884
up €370,884 (+588%), from €63,077 to €433,962
of which Other amounts receivable: +€289,121
Equity and liabilities
- Profit (loss) carried forward +€2.7m
up €2.7m (+80.6%), from -€3.3m to -€647,687
- Short-term financial debts -€980,000
down €980,000 (-52.6%), from €1.9m to €884,000
- Advances received -€660,000
down €660,000 (-56.9%), from €1.2m to €500,000
- Tax, wage and social debts +€566,559
up €566,559 (+1,017%), from €55,709 to €622,268
- Other debts -€378,661
down €378,661 (-42.6%), from €888,922 to €510,261
Income statement
- Gross operating margin +€4.6m
up €4.6m (+1,247%), from €372,524 to €5.0m
- Taxes +€1.1m
up €1.1m, from €0 to €1.1m
- Depreciation +€122,789
up €122,789 (+16.4%), from €748,386 to €871,175
- Other operating charges +€121,057
up €121,057 (+359%), from €33,722 to €154,779
- Financial charges +€74,123
up €74,123 (+39.0%), from €190,046 to €264,170
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€546,408
Gross operating margin
+€4.6m
Staff costs
+€450
Depreciation
-€122,789
Other operating charges
-€121,057
Financial income
+€27,373
Financial charges
-€74,123
Taxes
-€1.1m
Result 2025
€2.7m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.5m
Investment
-€78,387
Financing
-€983,798
Cash 2024
€655,946
From operations (derived)
+€2.5m
Net result for the year
+€2.7m
Depreciation
+€871,175
Receivables within one year
-€370,884
Deferred charges and accrued income
+€1,877
Provisions
-€53,916
Trade debts
-€115,690
Tax, wage and social debts
+€566,559
Advances received
-€660,000
Other debts
-€378,661
Investment (derived)
-€78,387
Investment in fixed assets (net)
-€78,387
Financing
-€983,798
Debts after one year
-€29,810
Current portion of long-term debt
+€26,011
Short-term financial debts
-€980,000
Cash 2025
€2.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,317,728 | €18,375,322 | +€1.1m | +6.1% |
| Fixed assets | 21/28 | €16,596,828 | €15,804,040 | -€792,788 | -4.8% |
| Intangible fixed assets | 21 | €1,370,578 | €1,520,168 | +€149,590 | +10.9% |
| Tangible fixed assets | 22/27 | €14,206,149 | €13,791,930 | -€414,219 | -2.9% |
| Land and buildings | 22 | €14,041,319 | €13,585,240 | -€456,079 | -3.2% |
| Plant, machinery and equipment | 23 | - | €219 | +€219 | |
| Furniture and vehicles | 24 | €130,453 | €172,094 | +€41,641 | +31.9% |
| Other tangible fixed assets | 26 | €34,377 | €34,377 | = | 0.0% |
| Financial fixed assets | 28 | €1,020,101 | €491,942 | -€528,160 | -51.8% |
| Current assets | 29/58 | €720,900 | €2,571,283 | +€1.9m | +257% |
| Amounts receivable within one year | 40/41 | €63,077 | €433,962 | +€370,884 | +588% |
| Trade receivables | 40 | - | €81,763 | +€81,763 | |
| Other amounts receivable | 41 | €63,077 | €352,199 | +€289,121 | +458% |
| Cash at bank and in hand | 54/58 | €655,946 | €2,137,321 | +€1.5m | +226% |
| Deferred charges and accrued income | 490/1 | €1,877 | €0 | -€1,877 | -100% |
| Total equity and liabilities | 10/49 | €17,317,728 | €18,375,322 | +€1.1m | +6.1% |
| Equity | 10/15 | €6,552,956 | €9,236,056 | +€2.7m | +40.9% |
| Contributions | 10/11 | €5,565,510 | €5,565,510 | = | 0.0% |
| Reserves | 13 | €4,330,391 | €4,318,233 | -€12,158 | -0.3% |
| Tax-exempt reserves | 132 | €4,330,391 | €4,318,233 | -€12,158 | -0.3% |
| Profit (loss) carried forward | 14 | -€3,342,945 | -€647,687 | +€2.7m | +80.6% |
| Provisions and deferred taxes | 16 | €986,601 | €932,685 | -€53,916 | -5.5% |
| Deferred taxes | 168 | €986,601 | €932,685 | -€53,916 | -5.5% |
| Amounts payable | 17/49 | €9,778,171 | €8,206,581 | -€1.6m | -16.1% |
| Amounts payable after more than one year | 17 | €5,141,338 | €5,111,528 | -€29,810 | -0.6% |
| Financial debts | 170/4 | €5,141,338 | €5,111,528 | -€29,810 | -0.6% |
| Amounts payable within one year | 42/48 | €4,636,833 | €3,095,053 | -€1.5m | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €392,143 | €418,154 | +€26,011 | +6.6% |
| Financial debts | 43 | €1,864,000 | €884,000 | -€980,000 | -52.6% |
| Credit institutions | 430/8 | €1,864,000 | €884,000 | -€980,000 | -52.6% |
| Trade debts | 44 | €276,060 | €160,370 | -€115,690 | -41.9% |
| Suppliers | 440/4 | €276,060 | €160,370 | -€115,690 | -41.9% |
| Advances received on contracts in progress | 46 | €1,160,000 | €500,000 | -€660,000 | -56.9% |
| Taxes, remuneration and social security | 45 | €55,709 | €622,268 | +€566,559 | +1,017% |
| Taxes | 450/3 | €55,709 | €622,268 | +€566,559 | +1,017% |
| Other amounts payable | 47/48 | €888,922 | €510,261 | -€378,661 | -42.6% |
| Non-recurring operating income | 76A | €229,228 | €4,726,423 | +€4.5m | +1,962% |
| Remuneration, social security and pensions | 62 | €693 | €243 | -€450 | -64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €748,386 | €871,175 | +€122,789 | +16.4% |
| Other operating charges | 640/8 | €33,722 | €154,779 | +€121,057 | +359% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €372,524 | €5,018,956 | +€4.6m | +1,247% |
| Operating profit (loss) | 9901 | -€410,278 | €3,992,759 | +€4.4m | |
| Financial income | 75/76B | €0 | €27,373 | +€27,373 | |
| Recurring financial income | 75 | €0 | €27,373 | +€27,373 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €190,046 | €264,170 | +€74,123 | +39.0% |
| Recurring financial charges | 65 | €190,046 | €264,170 | +€74,123 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | -€600,324 | €3,755,962 | +€4.4m | |
| Transfer from deferred taxes | 780 | €53,916 | €53,916 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €0 | €1,126,778 | +€1.1m | |
| Profit (loss) for the period | 9904 | -€546,408 | €2,683,100 | +€3.2m | |
| Transfer from tax-exempt reserves | 789 | €512,631 | €556,532 | +€43,901 | +8.6% |
| Transfer to tax-exempt reserves | 689 | €0 | €544,374 | +€544,374 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,777 | €2,695,258 | +€2.7m |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.