STG CONSTRUCT: 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.
STG CONSTRUCT
Largest movements
- Tangible fixed assets +€566,752
up €566,752 (+105.1%), from €539,346 to €1.1m
of which Land and buildings: +€548,704
- Stocks and contracts +€544,209
up €544,209 (+127.9%), from €425,541 to €969,750
of which Contracts in progress: +€544,209
- Receivables within one year +€119,671
up €119,671 (+88.2%), from €135,745 to €255,415
of which Trade receivables: +€154,956
- Cash -€109,901
down €109,901 (-32.8%), from €334,565 to €224,663
mainly Investment in fixed assets (net) (-€700,879) and Stocks and contracts (-€544,209)
- Short-term financial debts +€630,955
new in 2025: €630,955
- Debts after one year +€488,192
up €488,192 (+361.0%), from €135,226 to €623,419
- Trade debts -€113,818
down €113,818 (-43.9%), from €259,515 to €145,696
- Other debts +€79,608
up €79,608 (+630.5%), from €12,627 to €92,235
- Tax, wage and social debts +€32,064
up €32,064 (+33.7%), from €95,122 to €127,185
of which Taxes: +€45,406
- Gross operating margin -€87,432
down €87,432 (-7.4%), from €1.2m to €1.1m
- Taxes -€39,442
down €39,442 (-42.2%), from €93,542 to €54,100
- Financial charges +€20,991
up €20,991 (+105.1%), from €19,980 to €40,971
- Staff costs -€15,334
down €15,334 (-2.1%), from €733,603 to €718,269
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 | €1,442,464 | €2,569,719 | +€1.1m | +78.1% |
| Fixed assets | 21/28 | €539,346 | €1,106,098 | +€566,752 | +105.1% |
| Tangible fixed assets | 22/27 | €539,346 | €1,106,098 | +€566,752 | +105.1% |
| Land and buildings | 22 | €343,089 | €891,793 | +€548,704 | +159.9% |
| Plant, machinery and equipment | 23 | €76,797 | €46,520 | -€30,277 | -39.4% |
| Furniture and vehicles | 24 | €119,460 | €74,037 | -€45,423 | -38.0% |
| Leasing and similar rights | 25 | - | €93,749 | +€93,749 | |
| Current assets | 29/58 | €903,118 | €1,463,621 | +€560,503 | +62.1% |
| Stocks and contracts in progress | 3 | €425,541 | €969,750 | +€544,209 | +127.9% |
| Stocks | 30/36 | €255,541 | €255,541 | = | 0.0% |
| Contracts in progress | 37 | €170,000 | €714,209 | +€544,209 | +320.1% |
| Amounts receivable within one year | 40/41 | €135,745 | €255,415 | +€119,671 | +88.2% |
| Trade receivables | 40 | €65,566 | €220,523 | +€154,956 | +236.3% |
| Other amounts receivable | 41 | €70,179 | €34,893 | -€35,286 | -50.3% |
| Cash at bank and in hand | 54/58 | €334,565 | €224,663 | -€109,901 | -32.8% |
| Deferred charges and accrued income | 490/1 | €7,268 | €13,792 | +€6,525 | +89.8% |
| Total equity and liabilities | 10/49 | €1,442,464 | €2,569,719 | +€1.1m | +78.1% |
| Equity | 10/15 | €828,762 | €833,453 | +€4,692 | +0.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €817,860 | €821,860 | +€4,000 | +0.5% |
| Distributable reserves | 133 | €817,860 | €821,860 | +€4,000 | +0.5% |
| Profit (loss) carried forward | 14 | €4,702 | €5,393 | +€692 | +14.7% |
| Amounts payable | 17/49 | €613,702 | €1,736,265 | +€1.1m | +182.9% |
| Amounts payable after more than one year | 17 | €135,226 | €623,419 | +€488,192 | +361.0% |
| Financial debts | 170/4 | €135,226 | €623,419 | +€488,192 | +361.0% |
| Amounts payable within one year | 42/48 | €478,476 | €1,112,847 | +€634,371 | +132.6% |
| Current portion of amounts payable after more than one year | 42 | €111,212 | €116,775 | +€5,562 | +5.0% |
| Financial debts | 43 | - | €630,955 | +€630,955 | |
| Credit institutions | 430/8 | - | €630,955 | +€630,955 | |
| Trade debts | 44 | €259,515 | €145,696 | -€113,818 | -43.9% |
| Suppliers | 440/4 | €259,515 | €145,696 | -€113,818 | -43.9% |
| Taxes, remuneration and social security | 45 | €95,122 | €127,185 | +€32,064 | +33.7% |
| Taxes | 450/3 | €27,287 | €72,693 | +€45,406 | +166.4% |
| Remuneration and social security | 454/9 | €67,835 | €54,493 | -€13,342 | -19.7% |
| Other amounts payable | 47/48 | €12,627 | €92,235 | +€79,608 | +630.5% |
| Remuneration, social security and pensions | 62 | €733,603 | €718,269 | -€15,334 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,991 | €134,127 | -€5,864 | -4.2% |
| Other operating charges | 640/8 | €13,099 | €8,397 | -€4,703 | -35.9% |
| Non-recurring operating charges | 66A | €770 | €612 | -€159 | -20.6% |
| Gross operating margin | 9900 | €1,187,161 | €1,099,729 | -€87,432 | -7.4% |
| Operating profit (loss) | 9901 | €299,697 | €238,324 | -€61,373 | -20.5% |
| Financial income | 75/76B | €1,232 | €1,439 | +€207 | +16.8% |
| Recurring financial income | 75 | €1,232 | €1,439 | +€207 | +16.8% |
| Financial charges | 65/66B | €19,980 | €40,971 | +€20,991 | +105.1% |
| Recurring financial charges | 65 | €19,980 | €40,971 | +€20,991 | +105.1% |
| Profit (loss) for the period before taxes | 9903 | €280,949 | €198,792 | -€82,157 | -29.2% |
| Income taxes | 67/77 | €93,542 | €54,100 | -€39,442 | -42.2% |
| Profit (loss) for the period | 9904 | €187,407 | €144,692 | -€42,716 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €187,407 | €144,692 | -€42,716 | -22.8% |
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 11 October 2026 via checked.be.