STAW: 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.
STAW
Largest movements
- Cash +€151,034
up €151,034 (+30.8%), from €489,948 to €640,982
mainly Net result for the year (+€124,925) and Trade debts (+€67,253)
- Tangible fixed assets -€54,268
down €54,268 (-27.8%), from €195,508 to €141,240
of which Leasing and similar rights: -€28,476
- Profit (loss) carried forward +€71,984
up €71,984 (+12.8%), from €563,641 to €635,625
- Trade debts +€67,253
up €67,253 (+8.3%), from €808,174 to €875,427
- Debts after one year -€41,151
down €41,151 (-42.5%), from €96,793 to €55,642
of which Financial debts: -€41,151
- Gross operating margin -€52,991
down €52,991 (-9.2%), from €574,579 to €521,588
- Taxes -€18,354
down €18,354 (-33.3%), from €55,138 to €36,784
- Depreciation +€15,555
up €15,555 (+37.2%), from €41,761 to €57,316
- Staff costs +€9,792
up €9,792 (+3.5%), from €276,417 to €286,209
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,688,312 | €1,786,621 | +€98,309 | +5.8% |
| Fixed assets | 21/28 | €198,831 | €144,563 | -€54,268 | -27.3% |
| Tangible fixed assets | 22/27 | €195,508 | €141,240 | -€54,268 | -27.8% |
| Plant, machinery and equipment | 23 | €3,717 | €3,261 | -€456 | -12.3% |
| Furniture and vehicles | 24 | €112,797 | €87,732 | -€25,065 | -22.2% |
| Leasing and similar rights | 25 | €77,904 | €49,428 | -€28,476 | -36.6% |
| Other tangible fixed assets | 26 | €1,090 | €819 | -€271 | -24.9% |
| Financial fixed assets | 28 | €3,323 | €3,323 | = | 0.0% |
| Current assets | 29/58 | €1,489,481 | €1,642,058 | +€152,577 | +10.2% |
| Amounts receivable after more than one year | 29 | €36,873 | €31,285 | -€5,587 | -15.2% |
| Other amounts receivable | 291 | €36,873 | €31,285 | -€5,587 | -15.2% |
| Amounts receivable within one year | 40/41 | €952,196 | €959,945 | +€7,749 | +0.8% |
| Trade receivables | 40 | €901,534 | €893,085 | -€8,449 | -0.9% |
| Other amounts receivable | 41 | €50,662 | €66,860 | +€16,198 | +32.0% |
| Cash at bank and in hand | 54/58 | €489,948 | €640,982 | +€151,034 | +30.8% |
| Deferred charges and accrued income | 490/1 | €10,465 | €9,846 | -€619 | -5.9% |
| Total equity and liabilities | 10/49 | €1,688,312 | €1,786,621 | +€98,309 | +5.8% |
| Equity | 10/15 | €606,045 | €678,029 | +€71,984 | +11.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,804 | €23,804 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,944 | €21,944 | = | 0.0% |
| Profit (loss) carried forward | 14 | €563,641 | €635,625 | +€71,984 | +12.8% |
| Amounts payable | 17/49 | €1,082,266 | €1,108,591 | +€26,325 | +2.4% |
| Amounts payable after more than one year | 17 | €96,793 | €55,642 | -€41,151 | -42.5% |
| Financial debts | 170/4 | €96,693 | €55,542 | -€41,151 | -42.6% |
| Other amounts payable | 178/9 | €100 | €100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €985,473 | €1,052,949 | +€67,476 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €42,345 | €41,151 | -€1,194 | -2.8% |
| Trade debts | 44 | €808,174 | €875,427 | +€67,253 | +8.3% |
| Suppliers | 440/4 | €808,174 | €875,427 | +€67,253 | +8.3% |
| Taxes, remuneration and social security | 45 | €37,142 | €38,431 | +€1,288 | +3.5% |
| Taxes | 450/3 | €4,419 | €4,480 | +€62 | +1.4% |
| Remuneration and social security | 454/9 | €32,724 | €33,950 | +€1,226 | +3.7% |
| Other amounts payable | 47/48 | €97,811 | €97,941 | +€129 | +0.1% |
| Remuneration, social security and pensions | 62 | €276,417 | €286,209 | +€9,792 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,761 | €57,316 | +€15,555 | +37.2% |
| Other operating charges | 640/8 | €18,540 | €13,802 | -€4,738 | -25.6% |
| Gross operating margin | 9900 | €574,579 | €521,588 | -€52,991 | -9.2% |
| Operating profit (loss) | 9901 | €237,861 | €164,261 | -€73,601 | -30.9% |
| Financial income | 75/76B | €1,905 | €5,200 | +€3,295 | +173.0% |
| Recurring financial income | 75 | €1,905 | €5,200 | +€3,295 | +173.0% |
| Financial charges | 65/66B | €6,063 | €7,751 | +€1,688 | +27.8% |
| Recurring financial charges | 65 | €6,063 | €7,751 | +€1,688 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €233,703 | €161,709 | -€71,994 | -30.8% |
| Income taxes | 67/77 | €55,138 | €36,784 | -€18,354 | -33.3% |
| Profit (loss) for the period | 9904 | €178,565 | €124,925 | -€53,640 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €178,565 | €124,925 | -€53,640 | -30.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.