STATH: 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.
STATH
Largest movements
- Financial fixed assets +€79,964
up €79,964 (+33.3%), from €240,072 to €320,036
- Receivables within one year -€11,743
down €11,743 (-76.2%), from €15,403 to €3,660
- Current investments +€5,000
up €5,000 (+20.0%), from €25,000 to €30,000
- Cash -€3,956
down €3,956 (-12.4%), from €32,032 to €28,076
mainly Investment in fixed assets (net) (-€79,964) and Debts after one year (-€16,237)
- Reserves +€75,536
up €75,536 (+29.5%), from €256,231 to €331,767
- Debts after one year -€16,237
down €16,237 (-38.6%), from €42,107 to €25,870
- Other debts +€4,267
new in 2026: €4,267
- Gross operating margin +€45,210
up €45,210 (+73.6%), from €61,386 to €106,596
- Taxes +€11,538
up €11,538 (+77.5%), from €14,888 to €26,426
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €317,230 | €385,907 | +€68,678 | +21.6% |
| Fixed assets | 21/28 | €244,423 | €322,357 | +€77,934 | +31.9% |
| Tangible fixed assets | 22/27 | €4,350 | €2,321 | -€2,030 | -46.7% |
| Plant, machinery and equipment | 23 | €1,502 | €1,310 | -€192 | -12.8% |
| Furniture and vehicles | 24 | €2,849 | €1,011 | -€1,838 | -64.5% |
| Financial fixed assets | 28 | €240,072 | €320,036 | +€79,964 | +33.3% |
| Current assets | 29/58 | €72,807 | €63,550 | -€9,257 | -12.7% |
| Amounts receivable within one year | 40/41 | €15,403 | €3,660 | -€11,743 | -76.2% |
| Other amounts receivable | 41 | €15,403 | €3,660 | -€11,743 | -76.2% |
| Current investments | 50/53 | €25,000 | €30,000 | +€5,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €32,032 | €28,076 | -€3,956 | -12.4% |
| Deferred charges and accrued income | 490/1 | €372 | €1,814 | +€1,442 | +387.7% |
| Total equity and liabilities | 10/49 | €317,230 | €385,907 | +€68,678 | +21.6% |
| Equity | 10/15 | €259,231 | €334,767 | +€75,536 | +29.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Outside capital | 11 | €3,000 | €3,000 | = | 0.0% |
| Other | 1109/19 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €256,231 | €331,767 | +€75,536 | +29.5% |
| Distributable reserves | 133 | €256,231 | €331,767 | +€75,536 | +29.5% |
| Amounts payable | 17/49 | €57,999 | €51,140 | -€6,858 | -11.8% |
| Amounts payable after more than one year | 17 | €42,107 | €25,870 | -€16,237 | -38.6% |
| Financial debts | 170/4 | €42,107 | €25,870 | -€16,237 | -38.6% |
| Amounts payable within one year | 42/48 | €15,873 | €25,270 | +€9,397 | +59.2% |
| Current portion of amounts payable after more than one year | 42 | €15,697 | €16,237 | +€540 | +3.4% |
| Trade debts | 44 | €154 | €1,532 | +€1,378 | +895.4% |
| Suppliers | 440/4 | €154 | €1,532 | +€1,378 | +895.4% |
| Taxes, remuneration and social security | 45 | €22 | €3,234 | +€3,212 | +14773.8% |
| Taxes | 450/3 | €22 | €1,852 | +€1,831 | +8420.7% |
| Remuneration and social security | 454/9 | - | €1,381 | +€1,381 | |
| Other amounts payable | 47/48 | - | €4,267 | +€4,267 | |
| Accrued charges and deferred income | 492/3 | €19 | - | -€19 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,181 | €2,030 | -€152 | -6.9% |
| Other operating charges | 640/8 | €555 | €462 | -€94 | -16.9% |
| Gross operating margin | 9900 | €61,386 | €106,596 | +€45,210 | +73.6% |
| Operating profit (loss) | 9901 | €58,650 | €104,105 | +€45,455 | +77.5% |
| Financial income | 75/76B | €438 | €288 | -€150 | -34.2% |
| Recurring financial income | 75 | €438 | €288 | -€150 | -34.2% |
| Financial charges | 65/66B | €2,482 | €2,431 | -€51 | -2.1% |
| Recurring financial charges | 65 | €2,482 | €2,431 | -€51 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €56,606 | €101,962 | +€45,356 | +80.1% |
| Income taxes | 67/77 | €14,888 | €26,426 | +€11,538 | +77.5% |
| Profit (loss) for the period | 9904 | €41,718 | €75,536 | +€33,818 | +81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,718 | €75,536 | +€33,818 | +81.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.