STHENIAS: 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.
STHENIAS
Largest movements
- Current investments +€18,000
up €18,000 (+100%), from €18,000 to €36,000
- Cash -€13,590
down €13,590 (-23.2%), from €58,700 to €45,110
mainly Current investments (-€18,000) and Other debts (-€16,567)
- Financial fixed assets +€6,000
new in 2025: €6,000
- Tangible fixed assets -€4,012
down €4,012 (-10.7%), from €37,407 to €33,395
of which Other tangible fixed assets: -€5,864
- Receivables within one year -€3,096
down €3,096 (-9.5%), from €32,422 to €29,326
of which Trade receivables: -€3,155
- Reserves +€20,271
up €20,271 (+22.8%), from €88,721 to €108,992
of which Distributable reserves: +€20,271
- Other debts -€16,567
down €16,567 (-63.2%), from €26,223 to €9,656
- Gross operating margin -€27,803
down €27,803 (-32.2%), from €86,224 to €58,421
- Taxes -€6,162
down €6,162 (-35.3%), from €17,477 to €11,316
- Staff costs +€1,177
up €1,177 (+6.7%), from €17,676 to €18,853
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.
Derived cash bridge
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 | €148,096 | €151,501 | +€3,406 | +2.3% |
| Fixed assets | 21/28 | €37,407 | €39,395 | +€1,988 | +5.3% |
| Tangible fixed assets | 22/27 | €37,407 | €33,395 | -€4,012 | -10.7% |
| Plant, machinery and equipment | 23 | €0 | €574 | +€574 | |
| Furniture and vehicles | 24 | €6,433 | €7,711 | +€1,278 | +19.9% |
| Other tangible fixed assets | 26 | €30,974 | €25,110 | -€5,864 | -18.9% |
| Financial fixed assets | 28 | - | €6,000 | +€6,000 | |
| Current assets | 29/58 | €110,689 | €112,106 | +€1,417 | +1.3% |
| Amounts receivable within one year | 40/41 | €32,422 | €29,326 | -€3,096 | -9.5% |
| Trade receivables | 40 | €32,422 | €29,266 | -€3,155 | -9.7% |
| Other amounts receivable | 41 | - | €60 | +€60 | |
| Current investments | 50/53 | €18,000 | €36,000 | +€18,000 | +100% |
| Cash at bank and in hand | 54/58 | €58,700 | €45,110 | -€13,590 | -23.2% |
| Deferred charges and accrued income | 490/1 | €1,567 | €1,670 | +€103 | +6.5% |
| Total equity and liabilities | 10/49 | €148,096 | €151,501 | +€3,406 | +2.3% |
| Equity | 10/15 | €107,321 | €127,592 | +€20,271 | +18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €88,721 | €108,992 | +€20,271 | +22.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €88,721 | €108,992 | +€20,271 | +22.8% |
| Amounts payable | 17/49 | €40,774 | €23,909 | -€16,865 | -41.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €40,774 | €23,909 | -€16,865 | -41.4% |
| Trade debts | 44 | €1,269 | €926 | -€343 | -27.0% |
| Suppliers | 440/4 | €1,269 | €926 | -€343 | -27.0% |
| Taxes, remuneration and social security | 45 | €13,282 | €13,327 | +€45 | +0.3% |
| Taxes | 450/3 | €12,779 | €13,327 | +€548 | +4.3% |
| Remuneration and social security | 454/9 | €504 | €0 | -€504 | -100% |
| Other amounts payable | 47/48 | €26,223 | €9,656 | -€16,567 | -63.2% |
| Remuneration, social security and pensions | 62 | €17,676 | €18,853 | +€1,177 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,087 | €7,667 | -€420 | -5.2% |
| Other operating charges | 640/8 | €548 | €554 | +€6 | +1.1% |
| Gross operating margin | 9900 | €86,224 | €58,421 | -€27,803 | -32.2% |
| Operating profit (loss) | 9901 | €59,913 | €31,348 | -€28,565 | -47.7% |
| Financial income | 75/76B | €99 | €380 | +€281 | +283% |
| Recurring financial income | 75 | €99 | €380 | +€281 | +283% |
| Financial charges | 65/66B | €313 | €141 | -€172 | -54.9% |
| Recurring financial charges | 65 | €313 | €141 | -€172 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | €59,699 | €31,587 | -€28,113 | -47.1% |
| Income taxes | 67/77 | €17,477 | €11,316 | -€6,162 | -35.3% |
| Profit (loss) for the period | 9904 | €42,222 | €20,271 | -€21,951 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,222 | €20,271 | -€21,951 | -52.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.