STERLOO: 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.
STERLOO
Largest movements
- Stocks and contracts -€411,446
no longer reported in 2025 (was €411,446)
- Cash +€396,886
up €396,886 (+363%), from €109,470 to €506,356
mainly Stocks and contracts (+€411,446) and Net result for the year (+€166,316)
- Tangible fixed assets -€125,566
down €125,566 (-37.1%), from €338,428 to €212,862
of which Land and buildings: -€175,000
- Receivables within one year +€13,180
up €13,180 (+89.9%), from €14,662 to €27,842
of which Trade receivables: +€13,180
- Contributions -€335,000
down €335,000 (-84.4%), from €397,000 to €62,000
- Reserves +€88,320
up €88,320 (+23.2%), from €381,235 to €469,555
of which Distributable reserves: +€82,120
- Tax, wage and social debts +€78,306
up €78,306 (+685%), from €11,438 to €89,744
- Profit (loss) carried forward +€77,996
up €77,996, from -€77,000 to €996
- Trade debts -€34,729
no longer reported in 2025 (was €34,729)
- Gross operating margin -€343,817
down €343,817 (-64.2%), from €535,465 to €191,648
- Taxes +€21,785
new in 2025: €21,785
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 | €875,506 | €750,681 | -€124,825 | -14.3% |
| Fixed assets | 21/28 | €339,928 | €214,362 | -€125,566 | -36.9% |
| Tangible fixed assets | 22/27 | €338,428 | €212,862 | -€125,566 | -37.1% |
| Land and buildings | 22 | €335,000 | €160,000 | -€175,000 | -52.2% |
| Furniture and vehicles | 24 | - | €52,862 | +€52,862 | |
| Other tangible fixed assets | 26 | €3,428 | - | -€3,428 | |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €535,578 | €536,319 | +€741 | +0.1% |
| Stocks and contracts in progress | 3 | €411,446 | - | -€411,446 | |
| Stocks | 30/36 | €411,446 | - | -€411,446 | |
| Amounts receivable within one year | 40/41 | €14,662 | €27,842 | +€13,180 | +89.9% |
| Trade receivables | 40 | €14,520 | €27,700 | +€13,180 | +90.8% |
| Other amounts receivable | 41 | €142 | €142 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €109,470 | €506,356 | +€396,886 | +363% |
| Deferred charges and accrued income | 490/1 | - | €2,121 | +€2,121 | |
| Total equity and liabilities | 10/49 | €875,506 | €750,681 | -€124,825 | -14.3% |
| Equity | 10/15 | €701,236 | €532,551 | -€168,684 | -24.1% |
| Contributions | 10/11 | €397,000 | €62,000 | -€335,000 | -84.4% |
| Capital | 10 | €397,000 | €62,000 | -€335,000 | -84.4% |
| Issued capital | 100 | €397,000 | €62,000 | -€335,000 | -84.4% |
| Reserves | 13 | €381,235 | €469,555 | +€88,320 | +23.2% |
| Non-distributable reserves | 130/1 | - | €6,200 | +€6,200 | |
| Legal reserve | 130 | - | €6,200 | +€6,200 | |
| Tax-exempt reserves | 132 | €381,235 | €381,235 | = | 0.0% |
| Distributable reserves | 133 | - | €82,120 | +€82,120 | |
| Profit (loss) carried forward | 14 | -€77,000 | €996 | +€77,996 | |
| Provisions and deferred taxes | 16 | €127,078 | €127,078 | = | 0.0% |
| Deferred taxes | 168 | €127,078 | €127,078 | = | 0.0% |
| Amounts payable | 17/49 | €47,192 | €91,051 | +€43,859 | +92.9% |
| Amounts payable within one year | 42/48 | €46,337 | €90,315 | +€43,978 | +94.9% |
| Trade debts | 44 | €34,729 | - | -€34,729 | |
| Suppliers | 440/4 | €34,729 | - | -€34,729 | |
| Taxes, remuneration and social security | 45 | €11,438 | €89,744 | +€78,306 | +685% |
| Taxes | 450/3 | €11,438 | €89,744 | +€78,306 | +685% |
| Other amounts payable | 47/48 | €170 | €571 | +€401 | +236% |
| Accrued charges and deferred income | 492/3 | €855 | €736 | -€119 | -13.9% |
| Non-recurring operating income | 76A | €523,335 | - | -€523,335 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €355 | €3,053 | +€2,698 | +761% |
| Other operating charges | 640/8 | €2,465 | €795 | -€1,670 | -67.7% |
| Gross operating margin | 9900 | €535,465 | €191,648 | -€343,817 | -64.2% |
| Operating profit (loss) | 9901 | €532,645 | €187,800 | -€344,845 | -64.7% |
| Financial income | 75/76B | €473 | €496 | +€23 | +4.8% |
| Recurring financial income | 75 | €473 | €496 | +€23 | +4.8% |
| Financial charges | 65/66B | €166 | €196 | +€30 | +18.3% |
| Recurring financial charges | 65 | €166 | €196 | +€30 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | €532,953 | €188,100 | -€344,853 | -64.7% |
| Transfer to deferred taxes | 680 | €127,078 | - | -€127,078 | |
| Income taxes | 67/77 | - | €21,785 | +€21,785 | |
| Profit (loss) for the period | 9904 | €405,875 | €166,316 | -€239,559 | -59.0% |
| Transfer to tax-exempt reserves | 689 | €381,235 | - | -€381,235 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,639 | €166,316 | +€141,677 | +575% |
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 24 October 2026 via checked.be.