STG Stables: 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 Stables
Largest movements
- Tangible fixed assets -€30,935
down €30,935 (-11.9%), from €260,618 to €229,684
of which Land and buildings: -€24,988
- Stocks and contracts +€9,900
up €9,900 (+309.4%), from €3,200 to €13,100
- Receivables within one year -€9,403
down €9,403 (-41.7%), from €22,564 to €13,161
- Debts after one year -€18,130
down €18,130 (-21.2%), from €85,404 to €67,274
- Other debts -€13,258
down €13,258 (-20.0%), from €66,438 to €53,180
- Profit (loss) carried forward +€3,802
up €3,802 (+9.8%), from -€38,654 to -€34,852
- Gross operating margin +€31,569
up €31,569 (+402.4%), from €7,846 to €39,415
- Depreciation -€5,936
down €5,936 (-16.1%), from €36,870 to €30,935
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 | €289,138 | €258,765 | -€30,373 | -10.5% |
| Fixed assets | 21/28 | €262,773 | €231,839 | -€30,935 | -11.8% |
| Tangible fixed assets | 22/27 | €260,618 | €229,684 | -€30,935 | -11.9% |
| Land and buildings | 22 | €243,105 | €218,117 | -€24,988 | -10.3% |
| Plant, machinery and equipment | 23 | €17,513 | €11,566 | -€5,947 | -34.0% |
| Financial fixed assets | 28 | €2,155 | €2,155 | = | 0.0% |
| Current assets | 29/58 | €26,365 | €26,927 | +€562 | +2.1% |
| Stocks and contracts in progress | 3 | €3,200 | €13,100 | +€9,900 | +309.4% |
| Stocks | 30/36 | €3,200 | €13,100 | +€9,900 | +309.4% |
| Amounts receivable within one year | 40/41 | €22,564 | €13,161 | -€9,403 | -41.7% |
| Trade receivables | 40 | €22,564 | €13,161 | -€9,403 | -41.7% |
| Cash at bank and in hand | 54/58 | - | €666 | +€666 | |
| Deferred charges and accrued income | 490/1 | €601 | - | -€601 | |
| Total equity and liabilities | 10/49 | €289,138 | €258,765 | -€30,373 | -10.5% |
| Equity | 10/15 | €97,898 | €101,700 | +€3,802 | +3.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €36,552 | €36,552 | = | 0.0% |
| Distributable reserves | 133 | €36,552 | €36,552 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,654 | -€34,852 | +€3,802 | +9.8% |
| Amounts payable | 17/49 | €191,240 | €157,065 | -€34,175 | -17.9% |
| Amounts payable after more than one year | 17 | €85,404 | €67,274 | -€18,130 | -21.2% |
| Financial debts | 170/4 | €85,404 | €67,274 | -€18,130 | -21.2% |
| Amounts payable within one year | 42/48 | €105,836 | €89,792 | -€16,044 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €17,668 | €18,130 | +€462 | +2.6% |
| Financial debts | 43 | €589 | - | -€589 | |
| Credit institutions | 430/8 | €589 | - | -€589 | |
| Trade debts | 44 | €15,854 | €15,554 | -€300 | -1.9% |
| Suppliers | 440/4 | €15,854 | €15,554 | -€300 | -1.9% |
| Taxes, remuneration and social security | 45 | €5,287 | €2,928 | -€2,359 | -44.6% |
| Taxes | 450/3 | €5,287 | €2,928 | -€2,359 | -44.6% |
| Other amounts payable | 47/48 | €66,438 | €53,180 | -€13,258 | -20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,870 | €30,935 | -€5,936 | -16.1% |
| Other operating charges | 640/8 | €1,263 | €1,239 | -€24 | -1.9% |
| Gross operating margin | 9900 | €7,846 | €39,415 | +€31,569 | +402.4% |
| Operating profit (loss) | 9901 | -€30,287 | €7,241 | +€37,529 | |
| Financial income | 75/76B | €257 | - | -€257 | |
| Recurring financial income | 75 | €257 | - | -€257 | |
| Non-recurring financial income | 76B | €257 | - | -€257 | |
| Financial charges | 65/66B | €3,325 | €3,439 | +€115 | +3.5% |
| Recurring financial charges | 65 | €3,325 | €3,439 | +€115 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,355 | €3,802 | +€37,157 | |
| Profit (loss) for the period | 9904 | -€33,355 | €3,802 | +€37,157 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,355 | €3,802 | +€37,157 |
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.