STFN.: 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.
STFN.
Largest movements
- Receivables within one year +€15,470
up €15,470 (+65.2%), from €23,730 to €39,200
of which Other amounts receivable: +€18,200
- Current investments +€12,038
up €12,038 (+100.3%), from €12,000 to €24,038
- Cash +€3,851
up €3,851 (+7.0%), from €54,670 to €58,522
mainly Net result for the year (+€35,476) and Other debts (+€35,476)
- Other debts +€35,476
up €35,476, from €0 to €35,476
- Tax, wage and social debts -€3,390
down €3,390 (-30.6%), from €11,060 to €7,671
- Gross operating margin -€12,075
down €12,075 (-21.1%), from €57,199 to €45,124
- Taxes -€6,310
down €6,310 (-39.6%), from €15,945 to €9,635
- Other operating charges +€627
up €627 (+97.2%), from €645 to €1,272
- Financial income +€595
up €595 (+46.5%), from €1,280 to €1,875
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 | €122,670 | €156,023 | +€33,353 | +27.2% |
| Fixed assets | 21/28 | €1,665 | €2,846 | +€1,181 | +70.9% |
| Tangible fixed assets | 22/27 | €1,315 | €2,496 | +€1,181 | +89.8% |
| Furniture and vehicles | 24 | €624 | €1,978 | +€1,354 | +217.0% |
| Other tangible fixed assets | 26 | €691 | €518 | -€173 | -25.0% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €121,005 | €153,177 | +€32,173 | +26.6% |
| Amounts receivable after more than one year | 29 | €30,506 | €31,269 | +€763 | +2.5% |
| Other amounts receivable | 291 | €30,506 | €31,269 | +€763 | +2.5% |
| Amounts receivable within one year | 40/41 | €23,730 | €39,200 | +€15,470 | +65.2% |
| Trade receivables | 40 | €12,213 | €9,483 | -€2,730 | -22.4% |
| Other amounts receivable | 41 | €11,516 | €29,716 | +€18,200 | +158.0% |
| Current investments | 50/53 | €12,000 | €24,038 | +€12,038 | +100.3% |
| Cash at bank and in hand | 54/58 | €54,670 | €58,522 | +€3,851 | +7.0% |
| Deferred charges and accrued income | 490/1 | €99 | €149 | +€50 | +51.0% |
| Total equity and liabilities | 10/49 | €122,670 | €156,023 | +€33,353 | +27.2% |
| Equity | 10/15 | €109,598 | €109,598 | = | 0.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €97,198 | €97,198 | = | 0.0% |
| Distributable reserves | 133 | €97,198 | €97,198 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €13,072 | €46,425 | +€33,353 | +255.2% |
| Amounts payable within one year | 42/48 | €13,072 | €46,425 | +€33,353 | +255.2% |
| Trade debts | 44 | €2,011 | €3,279 | +€1,267 | +63.0% |
| Suppliers | 440/4 | €2,011 | €3,279 | +€1,267 | +63.0% |
| Taxes, remuneration and social security | 45 | €11,060 | €7,671 | -€3,390 | -30.6% |
| Taxes | 450/3 | €11,060 | €7,671 | -€3,390 | -30.6% |
| Other amounts payable | 47/48 | €0 | €35,476 | +€35,476 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €965 | €467 | -€498 | -51.6% |
| Other operating charges | 640/8 | €645 | €1,272 | +€627 | +97.2% |
| Gross operating margin | 9900 | €57,199 | €45,124 | -€12,075 | -21.1% |
| Operating profit (loss) | 9901 | €55,589 | €43,385 | -€12,204 | -22.0% |
| Financial income | 75/76B | €1,280 | €1,875 | +€595 | +46.5% |
| Recurring financial income | 75 | €1,280 | €1,875 | +€595 | +46.5% |
| Financial charges | 65/66B | €231 | €150 | -€81 | -35.1% |
| Recurring financial charges | 65 | €231 | €150 | -€81 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €56,638 | €45,111 | -€11,528 | -20.4% |
| Income taxes | 67/77 | €15,945 | €9,635 | -€6,310 | -39.6% |
| Profit (loss) for the period | 9904 | €40,694 | €35,476 | -€5,218 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,694 | €35,476 | -€5,218 | -12.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.