STIBRACO: 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.
STIBRACO
Largest movements
- Tangible fixed assets -€63,222
down €63,222 (-5.0%), from €1.3m to €1.2m
of which Land and buildings: -€62,898
- Debts after one year -€31,374
down €31,374 (-11.0%), from €286,129 to €254,755
- Other debts -€30,944
down €30,944 (-3.3%), from €932,430 to €901,487
- Depreciation +€4,500
up €4,500 (+7.6%), from €58,864 to €63,364
- Gross operating margin +€3,488
up €3,488 (+3.9%), from €90,255 to €93,743
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 | €1,282,287 | €1,219,903 | -€62,384 | -4.9% |
| Formation expenses | 20 | €568 | €426 | -€142 | -25.0% |
| Fixed assets | 21/28 | €1,275,350 | €1,212,128 | -€63,222 | -5.0% |
| Tangible fixed assets | 22/27 | €1,275,350 | €1,212,128 | -€63,222 | -5.0% |
| Land and buildings | 22 | €1,273,567 | €1,210,669 | -€62,898 | -4.9% |
| Plant, machinery and equipment | 23 | €1,783 | €1,459 | -€325 | -18.2% |
| Current assets | 29/58 | €6,370 | €7,350 | +€980 | +15.4% |
| Cash at bank and in hand | 54/58 | €4,022 | €4,917 | +€895 | +22.3% |
| Deferred charges and accrued income | 490/1 | €2,348 | €2,433 | +€85 | +3.6% |
| Total equity and liabilities | 10/49 | €1,282,287 | €1,219,903 | -€62,384 | -4.9% |
| Equity | 10/15 | €29,506 | €30,981 | +€1,475 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,906 | €12,381 | +€1,475 | +13.5% |
| Distributable reserves | 133 | €10,906 | €12,381 | +€1,475 | +13.5% |
| Amounts payable | 17/49 | €1,252,781 | €1,188,922 | -€63,859 | -5.1% |
| Amounts payable after more than one year | 17 | €286,129 | €254,755 | -€31,374 | -11.0% |
| Financial debts | 170/4 | €286,129 | €254,755 | -€31,374 | -11.0% |
| Amounts payable within one year | 42/48 | €966,653 | €934,167 | -€32,485 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €30,150 | €31,374 | +€1,224 | +4.1% |
| Trade debts | 44 | €2,906 | €26 | -€2,881 | -99.1% |
| Suppliers | 440/4 | €2,906 | €26 | -€2,881 | -99.1% |
| Taxes, remuneration and social security | 45 | €1,166 | €1,281 | +€116 | +9.9% |
| Taxes | 450/3 | €1,166 | €1,281 | +€116 | +9.9% |
| Other amounts payable | 47/48 | €932,430 | €901,487 | -€30,944 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,864 | €63,364 | +€4,500 | +7.6% |
| Other operating charges | 640/8 | €13,064 | €13,471 | +€407 | +3.1% |
| Gross operating margin | 9900 | €90,255 | €93,743 | +€3,488 | +3.9% |
| Operating profit (loss) | 9901 | €18,326 | €16,908 | -€1,419 | -7.7% |
| Financial charges | 65/66B | €15,623 | €14,896 | -€727 | -4.7% |
| Recurring financial charges | 65 | €15,623 | €14,896 | -€727 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €2,704 | €2,012 | -€692 | -25.6% |
| Income taxes | 67/77 | €871 | €537 | -€334 | -38.3% |
| Profit (loss) for the period | 9904 | €1,833 | €1,475 | -€358 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,833 | €1,475 | -€358 | -19.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.