STAX: 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.
STAX
Largest movements
- Cash +€78,450
up €78,450 (+98.9%), from €79,326 to €157,776
mainly Other debts (+€120,780) and Net result for the year (+€90,741)
- Receivables within one year -€60,465
down €60,465 (-78.0%), from €77,526 to €17,061
of which Other amounts receivable: -€55,323
- Tangible fixed assets +€21,464
up €21,464 (+37.7%), from €57,001 to €78,466
of which Land and buildings: +€22,657
- Other debts +€120,780
up €120,780, from €0 to €120,780
- Reserves -€108,334
down €108,334 (-100%), from €108,334 to €0
- Trade debts +€8,658
up €8,658 (+132%), from €6,572 to €15,230
- Current portion of long-term debt +€7,501
new in 2025: €7,501
- Tax, wage and social debts +€5,784
up €5,784 (+34.0%), from €16,990 to €22,774
- Gross operating margin +€57,740
up €57,740 (+75.6%), from €76,381 to €134,120
- Taxes +€13,324
up €13,324 (+55.8%), from €23,889 to €37,213
- Financial income -€1,635
down €1,635 (-100%), from €1,635 to €0
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.
Derived cash bridge
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 | €214,016 | €253,543 | +€39,527 | +18.5% |
| Fixed assets | 21/28 | €57,001 | €78,466 | +€21,464 | +37.7% |
| Tangible fixed assets | 22/27 | €57,001 | €78,466 | +€21,464 | +37.7% |
| Land and buildings | 22 | €55,351 | €78,008 | +€22,657 | +40.9% |
| Furniture and vehicles | 24 | €1,651 | €458 | -€1,192 | -72.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €157,015 | €175,077 | +€18,062 | +11.5% |
| Amounts receivable within one year | 40/41 | €77,526 | €17,061 | -€60,465 | -78.0% |
| Trade receivables | 40 | €22,204 | €17,061 | -€5,143 | -23.2% |
| Other amounts receivable | 41 | €55,323 | €0 | -€55,323 | -100% |
| Cash at bank and in hand | 54/58 | €79,326 | €157,776 | +€78,450 | +98.9% |
| Deferred charges and accrued income | 490/1 | €163 | €240 | +€77 | +47.3% |
| Total equity and liabilities | 10/49 | €214,016 | €253,543 | +€39,527 | +18.5% |
| Equity | 10/15 | €126,934 | €18,600 | -€108,334 | -85.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €108,334 | €0 | -€108,334 | -100% |
| Distributable reserves | 133 | €108,334 | €0 | -€108,334 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €87,083 | €234,943 | +€147,860 | +170% |
| Amounts payable after more than one year | 17 | €43,455 | €47,549 | +€4,094 | +9.4% |
| Financial debts | 170/4 | €43,455 | €47,549 | +€4,094 | +9.4% |
| Amounts payable within one year | 42/48 | €43,628 | €187,394 | +€143,766 | +330% |
| Current portion of amounts payable after more than one year | 42 | - | €7,501 | +€7,501 | |
| Financial debts | 43 | €20,066 | €21,110 | +€1,043 | +5.2% |
| Credit institutions | 430/8 | €20,066 | €21,110 | +€1,043 | +5.2% |
| Trade debts | 44 | €6,572 | €15,230 | +€8,658 | +132% |
| Suppliers | 440/4 | €6,572 | €15,230 | +€8,658 | +132% |
| Taxes, remuneration and social security | 45 | €16,990 | €22,774 | +€5,784 | +34.0% |
| Taxes | 450/3 | €16,990 | €22,774 | +€5,784 | +34.0% |
| Other amounts payable | 47/48 | €0 | €120,780 | +€120,780 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,970 | €2,336 | +€366 | +18.6% |
| Other operating charges | 640/8 | €1,160 | €968 | -€192 | -16.6% |
| Gross operating margin | 9900 | €76,381 | €134,120 | +€57,740 | +75.6% |
| Operating profit (loss) | 9901 | €73,251 | €130,817 | +€57,566 | +78.6% |
| Financial income | 75/76B | €1,635 | €0 | -€1,635 | -100% |
| Recurring financial income | 75 | €1,635 | €0 | -€1,635 | -100% |
| Financial charges | 65/66B | €2,731 | €2,863 | +€132 | +4.8% |
| Recurring financial charges | 65 | €2,731 | €2,863 | +€132 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €72,155 | €127,954 | +€55,799 | +77.3% |
| Income taxes | 67/77 | €23,889 | €37,213 | +€13,324 | +55.8% |
| Profit (loss) for the period | 9904 | €48,266 | €90,741 | +€42,475 | +88.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,266 | €90,741 | +€42,475 | +88.0% |
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 14 October 2026 via checked.be.