STCG: 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.
STCG
Largest movements
- Receivables within one year -€77,559
down €77,559 (-26.4%), from €294,243 to €216,684
of which Trade receivables: -€65,253
- Cash +€47,773
up €47,773 (+154.0%), from €31,014 to €78,787
mainly Receivables within one year (+€77,559) and Accrued charges and deferred income (+€26,512)
- Receivables after one year +€22,000
new in 2025: €22,000
- Tangible fixed assets +€5,952
up €5,952 (+104.5%), from €5,699 to €11,651
of which Furniture and vehicles: +€8,448
- Trade debts -€38,767
down €38,767 (-56.7%), from €68,369 to €29,601
- Accrued charges and deferred income +€26,512
up €26,512 (+48.7%), from €54,438 to €80,950
- Reserves +€12,967
up €12,967 (+7.4%), from €176,350 to €189,317
- Tax, wage and social debts -€4,344
down €4,344 (-9.0%), from €48,150 to €43,806
of which Taxes: -€4,074
- Write-downs +€71,774
new in 2025: €71,774
- Staff costs +€54,495
up €54,495 (+1153.5%), from €4,724 to €59,219
- Taxes -€40,212
down €40,212 (-86.6%), from €46,432 to €6,220
- Gross operating margin -€35,259
down €35,259 (-17.6%), from €200,076 to €164,817
- Depreciation +€2,280
up €2,280 (+85.5%), from €2,668 to €4,947
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 | €356,907 | €352,918 | -€3,989 | -1.1% |
| Fixed assets | 21/28 | €5,814 | €11,766 | +€5,952 | +102.4% |
| Tangible fixed assets | 22/27 | €5,699 | €11,651 | +€5,952 | +104.5% |
| Plant, machinery and equipment | 23 | €5,134 | €2,639 | -€2,496 | -48.6% |
| Furniture and vehicles | 24 | €564 | €9,012 | +€8,448 | +1497.4% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €351,093 | €341,152 | -€9,941 | -2.8% |
| Amounts receivable after more than one year | 29 | - | €22,000 | +€22,000 | |
| Other amounts receivable | 291 | - | €22,000 | +€22,000 | |
| Stocks and contracts in progress | 3 | €20,188 | €19,180 | -€1,008 | -5.0% |
| Stocks | 30/36 | €20,188 | €19,180 | -€1,008 | -5.0% |
| Amounts receivable within one year | 40/41 | €294,243 | €216,684 | -€77,559 | -26.4% |
| Trade receivables | 40 | €281,937 | €216,684 | -€65,253 | -23.1% |
| Other amounts receivable | 41 | €12,306 | - | -€12,306 | |
| Cash at bank and in hand | 54/58 | €31,014 | €78,787 | +€47,773 | +154.0% |
| Deferred charges and accrued income | 490/1 | €5,648 | €4,501 | -€1,147 | -20.3% |
| Total equity and liabilities | 10/49 | €356,907 | €352,918 | -€3,989 | -1.1% |
| Equity | 10/15 | €176,850 | €189,817 | +€12,967 | +7.3% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €176,350 | €189,317 | +€12,967 | +7.4% |
| Distributable reserves | 133 | €176,350 | €189,317 | +€12,967 | +7.4% |
| Amounts payable | 17/49 | €180,057 | €163,101 | -€16,956 | -9.4% |
| Amounts payable after more than one year | 17 | €2,412 | €1,249 | -€1,163 | -48.2% |
| Financial debts | 170/4 | €2,412 | €1,249 | -€1,163 | -48.2% |
| Amounts payable within one year | 42/48 | €123,207 | €80,902 | -€42,305 | -34.3% |
| Current portion of amounts payable after more than one year | 42 | €1,082 | €1,163 | +€81 | +7.5% |
| Trade debts | 44 | €68,369 | €29,601 | -€38,767 | -56.7% |
| Suppliers | 440/4 | €68,369 | €29,601 | -€38,767 | -56.7% |
| Taxes, remuneration and social security | 45 | €48,150 | €43,806 | -€4,344 | -9.0% |
| Taxes | 450/3 | €46,633 | €42,559 | -€4,074 | -8.7% |
| Remuneration and social security | 454/9 | €1,517 | €1,247 | -€270 | -17.8% |
| Other amounts payable | 47/48 | €5,607 | €6,332 | +€725 | +12.9% |
| Accrued charges and deferred income | 492/3 | €54,438 | €80,950 | +€26,512 | +48.7% |
| Remuneration, social security and pensions | 62 | €4,724 | €59,219 | +€54,495 | +1153.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,668 | €4,947 | +€2,280 | +85.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €71,774 | +€71,774 | |
| Other operating charges | 640/8 | €3,203 | €4,154 | +€951 | +29.7% |
| Gross operating margin | 9900 | €200,076 | €164,817 | -€35,259 | -17.6% |
| Operating profit (loss) | 9901 | €189,481 | €24,722 | -€164,759 | -87.0% |
| Financial income | 75/76B | €127 | €1,291 | +€1,164 | +916.8% |
| Recurring financial income | 75 | €127 | €1,291 | +€1,164 | +916.8% |
| Financial charges | 65/66B | €5,192 | €6,826 | +€1,634 | +31.5% |
| Recurring financial charges | 65 | €5,192 | €6,826 | +€1,634 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €184,416 | €19,187 | -€165,228 | -89.6% |
| Income taxes | 67/77 | €46,432 | €6,220 | -€40,212 | -86.6% |
| Profit (loss) for the period | 9904 | €137,984 | €12,967 | -€125,016 | -90.6% |
| Profit (loss) for the period to be appropriated | 9905 | €137,984 | €12,967 | -€125,016 | -90.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.