STER 14: 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.
STER 14
Largest movements
- Cash -€42,123
down €42,123 (-100%), from €42,123 to €0
mainly Receivables within one year (-€39,649) and Stocks and contracts (-€28,225)
- Receivables within one year +€39,649
up €39,649 (+79.3%), from €49,976 to €89,625
of which Trade receivables: +€29,782
- Stocks and contracts +€28,225
new in 2025: €28,225
- Tangible fixed assets -€3,100
down €3,100 (-28.6%), from €10,837 to €7,737
- Short-term financial debts +€9,319
new in 2025: €9,319
- Trade debts -€9,188
down €9,188 (-24.4%), from €37,681 to €28,493
- Current portion of long-term debt +€7,621
up €7,621 (+23.5%), from €32,391 to €40,012
- Reserves +€5,066
up €5,066 (+61.3%), from €8,265 to €13,330
- Debts after one year +€4,384
up €4,384 (+6.0%), from €73,511 to €77,895
- Other operating charges +€5,098
up €5,098 (+1,340%), from €380 to €5,478
- Staff costs -€4,045
down €4,045 (-100%), from €4,045 to €0
- Write-downs +€3,000
new in 2025: €3,000
- Gross operating margin +€2,522
up €2,522 (+6.9%), from €36,666 to €39,188
- Taxes -€1,791
down €1,791 (-58.8%), from €3,044 to €1,254
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 | €212,658 | €236,522 | +€23,864 | +11.2% |
| Fixed assets | 21/28 | €120,434 | €117,422 | -€3,013 | -2.5% |
| Intangible fixed assets | 21 | €109,597 | €109,684 | +€87 | +0.1% |
| Tangible fixed assets | 22/27 | €10,837 | €7,737 | -€3,100 | -28.6% |
| Plant, machinery and equipment | 23 | €10,837 | €7,737 | -€3,100 | -28.6% |
| Current assets | 29/58 | €92,223 | €119,100 | +€26,877 | +29.1% |
| Stocks and contracts in progress | 3 | - | €28,225 | +€28,225 | |
| Contracts in progress | 37 | - | €28,225 | +€28,225 | |
| Amounts receivable within one year | 40/41 | €49,976 | €89,625 | +€39,649 | +79.3% |
| Trade receivables | 40 | €41,402 | €71,185 | +€29,782 | +71.9% |
| Other amounts receivable | 41 | €8,573 | €18,440 | +€9,867 | +115% |
| Cash at bank and in hand | 54/58 | €42,123 | €0 | -€42,123 | -100% |
| Deferred charges and accrued income | 490/1 | €124 | €1,250 | +€1,126 | +905% |
| Total equity and liabilities | 10/49 | €212,658 | €236,522 | +€23,864 | +11.2% |
| Equity | 10/15 | €13,265 | €18,330 | +€5,066 | +38.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,265 | €13,330 | +€5,066 | +61.3% |
| Distributable reserves | 133 | €8,265 | €13,330 | +€5,066 | +61.3% |
| Amounts payable | 17/49 | €199,393 | €218,191 | +€18,798 | +9.4% |
| Amounts payable after more than one year | 17 | €73,511 | €77,895 | +€4,384 | +6.0% |
| Financial debts | 170/4 | €73,511 | €77,895 | +€4,384 | +6.0% |
| Amounts payable within one year | 42/48 | €125,500 | €140,013 | +€14,513 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €32,391 | €40,012 | +€7,621 | +23.5% |
| Financial debts | 43 | - | €9,319 | +€9,319 | |
| Credit institutions | 430/8 | - | €9,319 | +€9,319 | |
| Trade debts | 44 | €37,681 | €28,493 | -€9,188 | -24.4% |
| Suppliers | 440/4 | €37,681 | €28,493 | -€9,188 | -24.4% |
| Taxes, remuneration and social security | 45 | €3,048 | €5,778 | +€2,731 | +89.6% |
| Taxes | 450/3 | €3,048 | €5,778 | +€2,731 | +89.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €52,380 | €56,410 | +€4,029 | +7.7% |
| Accrued charges and deferred income | 492/3 | €382 | €284 | -€98 | -25.6% |
| Remuneration, social security and pensions | 62 | €4,045 | €0 | -€4,045 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,000 | €17,013 | +€1,013 | +6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,000 | +€3,000 | |
| Other operating charges | 640/8 | €380 | €5,478 | +€5,098 | +1,340% |
| Gross operating margin | 9900 | €36,666 | €39,188 | +€2,522 | +6.9% |
| Operating profit (loss) | 9901 | €16,241 | €13,697 | -€2,543 | -15.7% |
| Financial income | 75/76B | €802 | €331 | -€471 | -58.7% |
| Recurring financial income | 75 | €802 | €331 | -€471 | -58.7% |
| Financial charges | 65/66B | €6,567 | €7,709 | +€1,142 | +17.4% |
| Recurring financial charges | 65 | €6,567 | €7,709 | +€1,142 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | €10,476 | €6,319 | -€4,157 | -39.7% |
| Income taxes | 67/77 | €3,044 | €1,254 | -€1,791 | -58.8% |
| Profit (loss) for the period | 9904 | €7,431 | €5,066 | -€2,366 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,431 | €5,066 | -€2,366 | -31.8% |
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 16 October 2026 via checked.be.