STG MONS: what changed
STG MONS
Largest movements
- Tangible fixed assets +€158,941
up €158,941 (+894%), from €17,776 to €176,717
of which Other tangible fixed assets: +€155,946
- Cash -€23,454
down €23,454 (-16.6%), from €140,881 to €117,427
mainly Investment in fixed assets (net) (-€177,158) and Accrued charges and deferred income (-€40,000)
- Receivables within one year +€12,992
up €12,992 (+284%), from €4,574 to €17,566
of which Other amounts receivable: +€12,670
- Deferred charges and accrued income +€9,214
up €9,214 (+32.5%), from €28,337 to €37,551
- Debts after one year +€123,877
new in 2025: €123,877
- Accrued charges and deferred income -€40,000
no longer reported in 2025 (was €40,000)
- Reserves +€32,903
up €32,903 (+456%), from €7,210 to €40,113
- Current portion of long-term debt +€19,693
new in 2025: €19,693
- Trade debts +€15,960
up €15,960 (+25.8%), from €61,875 to €77,835
- Gross operating margin +€49,471
up €49,471 (+17.3%), from €285,193 to €334,664
- Staff costs -€16,531
down €16,531 (-6.4%), from €259,790 to €243,259
- Depreciation +€12,149
up €12,149 (+200%), from €6,068 to €18,217
- Financial charges +€8,787
up €8,787 (+104%), from €8,483 to €17,270
- Taxes +€8,495
up €8,495 (+347%), from €2,447 to €10,942
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €196,010 | €355,667 | +€159,657 | +81.5% |
| Fixed assets | 21/28 | €18,176 | €177,117 | +€158,941 | +874% |
| Tangible fixed assets | 22/27 | €17,776 | €176,717 | +€158,941 | +894% |
| Plant, machinery and equipment | 23 | €9,604 | €16,253 | +€6,649 | +69.2% |
| Furniture and vehicles | 24 | €8,172 | €4,518 | -€3,654 | -44.7% |
| Other tangible fixed assets | 26 | - | €155,946 | +€155,946 | |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €177,834 | €178,550 | +€716 | +0.4% |
| Stocks and contracts in progress | 3 | €4,042 | €6,006 | +€1,964 | +48.6% |
| Stocks | 30/36 | €4,042 | €6,006 | +€1,964 | +48.6% |
| Amounts receivable within one year | 40/41 | €4,574 | €17,566 | +€12,992 | +284% |
| Trade receivables | 40 | €673 | €995 | +€322 | +47.8% |
| Other amounts receivable | 41 | €3,901 | €16,571 | +€12,670 | +325% |
| Cash at bank and in hand | 54/58 | €140,881 | €117,427 | -€23,454 | -16.6% |
| Deferred charges and accrued income | 490/1 | €28,337 | €37,551 | +€9,214 | +32.5% |
| Total equity and liabilities | 10/49 | €196,010 | €355,667 | +€159,657 | +81.5% |
| Equity | 10/15 | €14,390 | €58,713 | +€44,323 | +308% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,210 | €40,113 | +€32,903 | +456% |
| Distributable reserves | 133 | €7,210 | €40,113 | +€32,903 | +456% |
| Profit (loss) carried forward | 14 | -€11,420 | - | +€11,420 | |
| Amounts payable | 17/49 | €181,620 | €296,954 | +€115,334 | +63.5% |
| Amounts payable after more than one year | 17 | - | €123,877 | +€123,877 | |
| Financial debts | 170/4 | - | €123,877 | +€123,877 | |
| Amounts payable within one year | 42/48 | €141,620 | €173,077 | +€31,457 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | - | €19,693 | +€19,693 | |
| Trade debts | 44 | €61,875 | €77,835 | +€15,960 | +25.8% |
| Suppliers | 440/4 | €61,875 | €77,835 | +€15,960 | +25.8% |
| Advances received on contracts in progress | 46 | - | €1,130 | +€1,130 | |
| Taxes, remuneration and social security | 45 | €48,730 | €43,660 | -€5,070 | -10.4% |
| Taxes | 450/3 | €10,981 | €11,296 | +€315 | +2.9% |
| Remuneration and social security | 454/9 | €37,749 | €32,364 | -€5,385 | -14.3% |
| Other amounts payable | 47/48 | €31,015 | €30,759 | -€256 | -0.8% |
| Accrued charges and deferred income | 492/3 | €40,000 | - | -€40,000 | |
| Remuneration, social security and pensions | 62 | €259,790 | €243,259 | -€16,531 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,068 | €18,217 | +€12,149 | +200% |
| Other operating charges | 640/8 | €557 | €2,192 | +€1,635 | +294% |
| Gross operating margin | 9900 | €285,193 | €334,664 | +€49,471 | +17.3% |
| Operating profit (loss) | 9901 | €18,778 | €70,996 | +€52,218 | +278% |
| Financial income | 75/76B | €130 | €1,539 | +€1,409 | +1,084% |
| Recurring financial income | 75 | €130 | €1,539 | +€1,409 | +1,084% |
| Non-recurring financial income | 76B | €130 | - | -€130 | |
| Financial charges | 65/66B | €8,483 | €17,270 | +€8,787 | +104% |
| Recurring financial charges | 65 | €8,483 | €17,270 | +€8,787 | +104% |
| Profit (loss) for the period before taxes | 9903 | €10,425 | €55,265 | +€44,840 | +430% |
| Income taxes | 67/77 | €2,447 | €10,942 | +€8,495 | +347% |
| Profit (loss) for the period | 9904 | €7,978 | €44,323 | +€36,345 | +456% |
| Profit (loss) for the period to be appropriated | 9905 | €7,978 | €44,323 | +€36,345 | +456% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.