STAWI: what changed
Two financial 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.
STAWI
Largest movements
- Cash +€48,774
up €48,774 (+76.6%), from €63,675 to €112,448
mainly Other debts (+€154,636) and Trade debts (+€70,174)
- Receivables within one year +€47,629
up €47,629 (+45.2%), from €105,378 to €153,007
of which Trade receivables: +€34,296
- Tangible fixed assets +€24,201
up €24,201 (+18.1%), from €134,007 to €158,208
- Other debts +€154,636
up €154,636 (+165.8%), from €93,262 to €247,898
- Debts after one year -€120,000
down €120,000 (-7.5%), from €1.6m to €1.5m
- Trade debts +€70,174
up €70,174 (+130.4%), from €53,800 to €123,974
- Gross operating margin +€5,910
up €5,910 (+12.4%), from €47,618 to €53,528
- Depreciation -€3,314
down €3,314 (-6.5%), from €50,613 to €47,299
- Taxes -€2,803
down €2,803 (-92.0%), from €3,046 to €243
- Other operating charges +€1,000
up €1,000 (+847.9%), from €118 to €1,118
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 | €1,943,061 | €2,064,311 | +€121,251 | +6.2% |
| Fixed assets | 21/28 | €1,774,007 | €1,798,208 | +€24,201 | +1.4% |
| Tangible fixed assets | 22/27 | €134,007 | €158,208 | +€24,201 | +18.1% |
| Plant, machinery and equipment | 23 | €134,007 | €158,208 | +€24,201 | +18.1% |
| Financial fixed assets | 28 | €1,640,000 | €1,640,000 | = | 0.0% |
| Current assets | 29/58 | €169,053 | €266,103 | +€97,050 | +57.4% |
| Amounts receivable within one year | 40/41 | €105,378 | €153,007 | +€47,629 | +45.2% |
| Trade receivables | 40 | €16,805 | €51,102 | +€34,296 | +204.1% |
| Other amounts receivable | 41 | €88,573 | €101,906 | +€13,333 | +15.1% |
| Cash at bank and in hand | 54/58 | €63,675 | €112,448 | +€48,774 | +76.6% |
| Deferred charges and accrued income | 490/1 | - | €647 | +€647 | |
| Total equity and liabilities | 10/49 | €1,943,061 | €2,064,311 | +€121,251 | +6.2% |
| Equity | 10/15 | €193,730 | €198,573 | +€4,843 | +2.5% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Reserves | 13 | €94,917 | €94,917 | = | 0.0% |
| Distributable reserves | 133 | €94,917 | €94,917 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,187 | -€1,344 | +€4,843 | +78.3% |
| Amounts payable | 17/49 | €1,749,331 | €1,865,738 | +€116,408 | +6.7% |
| Amounts payable after more than one year | 17 | €1,600,000 | €1,480,000 | -€120,000 | -7.5% |
| Other amounts payable | 178/9 | €1,600,000 | €1,480,000 | -€120,000 | -7.5% |
| Amounts payable within one year | 42/48 | €149,331 | €385,738 | +€236,408 | +158.3% |
| Trade debts | 44 | €53,800 | €123,974 | +€70,174 | +130.4% |
| Suppliers | 440/4 | €53,800 | €123,974 | +€70,174 | +130.4% |
| Taxes, remuneration and social security | 45 | €2,268 | €13,866 | +€11,598 | +511.4% |
| Taxes | 450/3 | €2,268 | €13,866 | +€11,598 | +511.4% |
| Other amounts payable | 47/48 | €93,262 | €247,898 | +€154,636 | +165.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,613 | €47,299 | -€3,314 | -6.5% |
| Other operating charges | 640/8 | €118 | €1,118 | +€1,000 | +847.9% |
| Gross operating margin | 9900 | €47,618 | €53,528 | +€5,910 | +12.4% |
| Operating profit (loss) | 9901 | -€3,113 | €5,110 | +€8,223 | |
| Financial charges | 65/66B | €27 | €24 | -€3 | -11.1% |
| Recurring financial charges | 65 | €27 | €24 | -€3 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,140 | €5,086 | +€8,226 | |
| Income taxes | 67/77 | €3,046 | €243 | -€2,803 | -92.0% |
| Profit (loss) for the period | 9904 | -€6,187 | €4,843 | +€11,029 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,187 | €4,843 | +€11,029 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.