STERCUS: 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.
STERCUS
Largest movements
- Receivables within one year -€590,390
down €590,390 (-84.2%), from €701,427 to €111,037
of which Other amounts receivable: -€571,298
- Tangible fixed assets -€420,547
down €420,547 (-12.6%), from €3.3m to €2.9m
of which Leasing and similar rights: -€584,076
- Debts after one year -€507,827
down €507,827 (-31.0%), from €1.6m to €1.1m
- Tax, wage and social debts -€390,891
down €390,891 (-51.7%), from €755,734 to €364,842
of which Remuneration and social security: -€332,475
- Current portion of long-term debt -€114,002
down €114,002 (-13.9%), from €822,593 to €708,590
- Trade debts -€96,104
down €96,104 (-18.0%), from €533,438 to €437,334
- Profit (loss) carried forward +€52,981
up €52,981 (+19.6%), from -€269,641 to -€216,659
- Gross operating margin -€330,471
down €330,471 (-13.1%), from €2.5m to €2.2m
- Staff costs -€316,593
down €316,593 (-20.8%), from €1.5m to €1.2m
- Depreciation -€164,919
down €164,919 (-22.2%), from €743,599 to €578,681
- Financial charges -€137,144
down €137,144 (-59.1%), from €232,009 to €94,865
- Other operating charges -€28,250
down €28,250 (-74.2%), from €38,084 to €9,833
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 | €4,205,950 | €3,176,087 | -€1.0m | -24.5% |
| Fixed assets | 21/28 | €3,347,831 | €2,927,283 | -€420,547 | -12.6% |
| Tangible fixed assets | 22/27 | €3,336,846 | €2,916,298 | -€420,547 | -12.6% |
| Plant, machinery and equipment | 23 | €10,958 | €5,061 | -€5,897 | -53.8% |
| Furniture and vehicles | 24 | €343,235 | €512,661 | +€169,426 | +49.4% |
| Leasing and similar rights | 25 | €2,982,653 | €2,398,577 | -€584,076 | -19.6% |
| Financial fixed assets | 28 | €10,985 | €10,985 | = | 0.0% |
| Current assets | 29/58 | €858,119 | €248,803 | -€609,316 | -71.0% |
| Amounts receivable within one year | 40/41 | €701,427 | €111,037 | -€590,390 | -84.2% |
| Trade receivables | 40 | €100,039 | €80,947 | -€19,092 | -19.1% |
| Other amounts receivable | 41 | €601,388 | €30,090 | -€571,298 | -95.0% |
| Cash at bank and in hand | 54/58 | €4,608 | €2,687 | -€1,921 | -41.7% |
| Deferred charges and accrued income | 490/1 | €152,084 | €135,079 | -€17,005 | -11.2% |
| Total equity and liabilities | 10/49 | €4,205,950 | €3,176,087 | -€1.0m | -24.5% |
| Equity | 10/15 | €206,792 | €259,774 | +€52,981 | +25.6% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €413,933 | €413,933 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €407,683 | €407,683 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€269,641 | -€216,659 | +€52,981 | +19.6% |
| Amounts payable | 17/49 | €3,999,158 | €2,916,313 | -€1.1m | -27.1% |
| Amounts payable after more than one year | 17 | €1,637,754 | €1,129,926 | -€507,827 | -31.0% |
| Financial debts | 170/4 | €1,637,754 | €1,129,926 | -€507,827 | -31.0% |
| Amounts payable within one year | 42/48 | €2,361,404 | €1,764,252 | -€597,152 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €822,593 | €708,590 | -€114,002 | -13.9% |
| Trade debts | 44 | €533,438 | €437,334 | -€96,104 | -18.0% |
| Suppliers | 440/4 | €533,438 | €437,334 | -€96,104 | -18.0% |
| Taxes, remuneration and social security | 45 | €755,734 | €364,842 | -€390,891 | -51.7% |
| Taxes | 450/3 | €171,799 | €113,383 | -€58,416 | -34.0% |
| Remuneration and social security | 454/9 | €583,934 | €251,459 | -€332,475 | -56.9% |
| Other amounts payable | 47/48 | €249,640 | €253,486 | +€3,846 | +1.5% |
| Accrued charges and deferred income | 492/3 | €0 | €22,135 | +€22,135 | |
| Non-recurring operating income | 76A | €117,370 | €0 | -€117,370 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,523,740 | €1,207,147 | -€316,593 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €743,599 | €578,681 | -€164,919 | -22.2% |
| Other operating charges | 640/8 | €38,084 | €9,833 | -€28,250 | -74.2% |
| Non-recurring operating charges | 66A | €1,064 | €11,846 | +€10,782 | +1013.8% |
| Gross operating margin | 9900 | €2,531,684 | €2,201,213 | -€330,471 | -13.1% |
| Operating profit (loss) | 9901 | €225,197 | €393,706 | +€168,509 | +74.8% |
| Financial income | 75/76B | €12,902 | €4,140 | -€8,762 | -67.9% |
| Recurring financial income | 75 | €12,902 | €4,140 | -€8,762 | -67.9% |
| Financial charges | 65/66B | €232,009 | €94,865 | -€137,144 | -59.1% |
| Recurring financial charges | 65 | €232,009 | €94,865 | -€137,144 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €6,090 | €302,981 | +€296,892 | +4875.2% |
| Profit (loss) for the period | 9904 | €6,090 | €302,981 | +€296,892 | +4875.2% |
| Transfer to tax-exempt reserves | 689 | €112,615 | €0 | -€112,615 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€106,525 | €302,981 | +€409,507 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.