STH: 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.
STH
Largest movements
- Receivables within one year -€6,664
down €6,664 (-9.6%), from €69,287 to €62,623
of which Trade receivables: -€11,959
- Stocks and contracts -€2,196
down €2,196 (-3.1%), from €72,001 to €69,805
of which Contracts in progress: -€9,226
- Tangible fixed assets +€1,865
up €1,865 (+13.2%), from €14,122 to €15,987
of which Plant, machinery and equipment: +€3,250
- Tax, wage and social debts -€11,236
down €11,236 (-86.5%), from €12,986 to €1,750
of which Taxes: -€11,486
- Trade debts +€5,806
up €5,806 (+82.7%), from €7,022 to €12,829
- Profit (loss) carried forward -€5,165
down €5,165 (-67.9%), from €7,608 to €2,444
- Other debts +€3,022
up €3,022 (+15.7%), from €19,196 to €22,218
- Reserves +€2,640
up €2,640 (+2.4%), from €112,160 to €114,800
of which Distributable reserves: +€2,640
- Gross operating margin -€20,012
down €20,012 (-42.2%), from €47,456 to €27,444
- Taxes -€6,243
down €6,243 (-48.7%), from €12,819 to €6,576
- Other operating charges -€2,670
down €2,670 (-84.5%), from €3,161 to €491
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 | €179,764 | €173,168 | -€6,597 | -3.7% |
| Fixed assets | 21/28 | €14,122 | €15,987 | +€1,865 | +13.2% |
| Tangible fixed assets | 22/27 | €14,122 | €15,987 | +€1,865 | +13.2% |
| Plant, machinery and equipment | 23 | €10,136 | €13,386 | +€3,250 | +32.1% |
| Furniture and vehicles | 24 | €2,097 | €1,031 | -€1,066 | -50.8% |
| Other tangible fixed assets | 26 | €1,889 | €1,570 | -€319 | -16.9% |
| Current assets | 29/58 | €165,643 | €157,180 | -€8,462 | -5.1% |
| Stocks and contracts in progress | 3 | €72,001 | €69,805 | -€2,196 | -3.1% |
| Stocks | 30/36 | €34,163 | €41,193 | +€7,030 | +20.6% |
| Contracts in progress | 37 | €37,838 | €28,612 | -€9,226 | -24.4% |
| Amounts receivable within one year | 40/41 | €69,287 | €62,623 | -€6,664 | -9.6% |
| Trade receivables | 40 | €69,287 | €57,327 | -€11,959 | -17.3% |
| Other amounts receivable | 41 | - | €5,295 | +€5,295 | |
| Cash at bank and in hand | 54/58 | €23,913 | €22,644 | -€1,269 | -5.3% |
| Deferred charges and accrued income | 490/1 | €442 | €2,109 | +€1,667 | +376.9% |
| Total equity and liabilities | 10/49 | €179,764 | €173,168 | -€6,597 | -3.7% |
| Equity | 10/15 | €138,368 | €135,844 | -€2,524 | -1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €112,160 | €114,800 | +€2,640 | +2.4% |
| Tax-exempt reserves | 132 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €109,160 | €111,800 | +€2,640 | +2.4% |
| Profit (loss) carried forward | 14 | €7,608 | €2,444 | -€5,165 | -67.9% |
| Amounts payable | 17/49 | €41,396 | €37,324 | -€4,073 | -9.8% |
| Amounts payable within one year | 42/48 | €39,204 | €36,796 | -€2,408 | -6.1% |
| Trade debts | 44 | €7,022 | €12,829 | +€5,806 | +82.7% |
| Suppliers | 440/4 | €7,022 | €12,829 | +€5,806 | +82.7% |
| Taxes, remuneration and social security | 45 | €12,986 | €1,750 | -€11,236 | -86.5% |
| Taxes | 450/3 | €11,486 | - | -€11,486 | |
| Remuneration and social security | 454/9 | €1,500 | €1,750 | +€250 | +16.7% |
| Other amounts payable | 47/48 | €19,196 | €22,218 | +€3,022 | +15.7% |
| Accrued charges and deferred income | 492/3 | €2,192 | €528 | -€1,665 | -75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,490 | €4,481 | -€9 | -0.2% |
| Other operating charges | 640/8 | €3,161 | €491 | -€2,670 | -84.5% |
| Non-recurring operating charges | 66A | - | €1,427 | +€1,427 | |
| Gross operating margin | 9900 | €47,456 | €27,444 | -€20,012 | -42.2% |
| Operating profit (loss) | 9901 | €39,805 | €21,044 | -€18,760 | -47.1% |
| Financial income | 75/76B | €500 | €489 | -€10 | -2.1% |
| Recurring financial income | 75 | €500 | €489 | -€10 | -2.1% |
| Financial charges | 65/66B | €154 | €318 | +€164 | +106.0% |
| Recurring financial charges | 65 | €154 | €318 | +€164 | +106.0% |
| Profit (loss) for the period before taxes | 9903 | €40,150 | €21,216 | -€18,934 | -47.2% |
| Income taxes | 67/77 | €12,819 | €6,576 | -€6,243 | -48.7% |
| Profit (loss) for the period | 9904 | €27,332 | €14,640 | -€12,691 | -46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,332 | €14,640 | -€12,691 | -46.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.