Stas Retro-Engineering: 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.
Stas Retro-Engineering
Largest movements
- Tangible fixed assets +€76,969
up €76,969 (+87.4%), from €88,018 to €164,987
of which Leasing and similar rights: +€69,326
- Receivables within one year +€50,742
up €50,742 (+88.4%), from €57,404 to €108,146
- Cash +€3,624
up €3,624 (+30.1%), from €12,021 to €15,645
mainly Debts after one year (+€62,220) and Net result for the year (+€44,354)
- Debts after one year +€62,220
up €62,220 (+158.1%), from €39,346 to €101,566
- Profit (loss) carried forward +€39,354
up €39,354 (+55.1%), from €71,469 to €110,824
- Tax, wage and social debts +€27,994
up €27,994 (+117.7%), from €23,776 to €51,769
of which Taxes: +€22,673
- Current portion of long-term debt +€11,047
up €11,047 (+112.6%), from €9,811 to €20,857
- Trade debts -€7,589
no longer reported in 2025 (was €7,589)
- Depreciation +€10,106
up €10,106 (+54.8%), from €18,449 to €28,555
- Gross operating margin -€3,101
down €3,101 (-3.3%), from €94,089 to €90,988
- Financial charges +€2,329
up €2,329 (+115.2%), from €2,022 to €4,351
- Taxes -€2,116
down €2,116 (-13.6%), from €15,593 to €13,478
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.
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 | €161,084 | €292,944 | +€131,861 | +81.9% |
| Fixed assets | 21/28 | €90,487 | €167,456 | +€76,969 | +85.1% |
| Tangible fixed assets | 22/27 | €88,018 | €164,987 | +€76,969 | +87.4% |
| Plant, machinery and equipment | 23 | €20,587 | €25,408 | +€4,821 | +23.4% |
| Furniture and vehicles | 24 | €13,674 | €11,724 | -€1,950 | -14.3% |
| Leasing and similar rights | 25 | €52,839 | €122,166 | +€69,326 | +131.2% |
| Other tangible fixed assets | 26 | €917 | €5,689 | +€4,772 | +520.2% |
| Financial fixed assets | 28 | €2,469 | €2,469 | = | 0.0% |
| Current assets | 29/58 | €70,597 | €125,488 | +€54,892 | +77.8% |
| Amounts receivable within one year | 40/41 | €57,404 | €108,146 | +€50,742 | +88.4% |
| Trade receivables | 40 | €57,404 | €108,146 | +€50,742 | +88.4% |
| Cash at bank and in hand | 54/58 | €12,021 | €15,645 | +€3,624 | +30.1% |
| Deferred charges and accrued income | 490/1 | €1,171 | €1,698 | +€526 | +44.9% |
| Total equity and liabilities | 10/49 | €161,084 | €292,944 | +€131,861 | +81.9% |
| Equity | 10/15 | €74,469 | €113,824 | +€39,354 | +52.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,469 | €110,824 | +€39,354 | +55.1% |
| Amounts payable | 17/49 | €86,614 | €179,121 | +€92,506 | +106.8% |
| Amounts payable after more than one year | 17 | €39,346 | €101,566 | +€62,220 | +158.1% |
| Financial debts | 170/4 | €39,346 | €101,566 | +€62,220 | +158.1% |
| Amounts payable within one year | 42/48 | €47,269 | €77,555 | +€30,286 | +64.1% |
| Current portion of amounts payable after more than one year | 42 | €9,811 | €20,857 | +€11,047 | +112.6% |
| Trade debts | 44 | €7,589 | - | -€7,589 | |
| Suppliers | 440/4 | €7,589 | - | -€7,589 | |
| Taxes, remuneration and social security | 45 | €23,776 | €51,769 | +€27,994 | +117.7% |
| Taxes | 450/3 | €22,816 | €45,488 | +€22,673 | +99.4% |
| Remuneration and social security | 454/9 | €960 | €6,281 | +€5,321 | +554.3% |
| Other amounts payable | 47/48 | €6,093 | €4,928 | -€1,165 | -19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,449 | €28,555 | +€10,106 | +54.8% |
| Other operating charges | 640/8 | €455 | €258 | -€197 | -43.2% |
| Gross operating margin | 9900 | €94,089 | €90,988 | -€3,101 | -3.3% |
| Operating profit (loss) | 9901 | €75,186 | €62,175 | -€13,011 | -17.3% |
| Financial income | 75/76B | €13 | €8 | -€5 | -36.5% |
| Recurring financial income | 75 | €13 | €8 | -€5 | -36.5% |
| Financial charges | 65/66B | €2,022 | €4,351 | +€2,329 | +115.2% |
| Recurring financial charges | 65 | €2,022 | €4,351 | +€2,329 | +115.2% |
| Profit (loss) for the period before taxes | 9903 | €73,177 | €57,832 | -€15,344 | -21.0% |
| Income taxes | 67/77 | €15,593 | €13,478 | -€2,116 | -13.6% |
| Profit (loss) for the period | 9904 | €57,583 | €44,354 | -€13,229 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,583 | €44,354 | -€13,229 | -23.0% |
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 5 October 2026 via checked.be.