STICKS OUT: what changed
STICKS OUT
Largest movements
- Cash +€69,485
up €69,485 (+139%), from €49,851 to €119,336
mainly Net result for the year (+€82,162) and Other debts (+€74,890)
- Receivables within one year +€15,229
up €15,229 (+63.9%), from €23,834 to €39,063
of which Trade receivables: +€10,601
- Tangible fixed assets +€2,753
up €2,753 (+13.0%), from €21,239 to €23,992
of which Furniture and vehicles: +€3,023
- Other debts +€74,890
up €74,890 (+97.3%), from €76,974 to €151,865
- Trade debts +€11,974
up €11,974 (+598%), from €2,002 to €13,976
- Gross operating margin -€45,677
down €45,677 (-27.8%), from €164,569 to €118,892
- Taxes -€12,021
down €12,021 (-31.2%), from €38,559 to €26,538
- Depreciation +€2,698
up €2,698 (+41.2%), from €6,549 to €9,247
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 | €125,337 | €212,804 | +€87,467 | +69.8% |
| Fixed assets | 21/28 | €21,239 | €23,992 | +€2,753 | +13.0% |
| Tangible fixed assets | 22/27 | €21,239 | €23,992 | +€2,753 | +13.0% |
| Plant, machinery and equipment | 23 | €1,287 | €1,016 | -€270 | -21.0% |
| Furniture and vehicles | 24 | €19,952 | €22,976 | +€3,023 | +15.2% |
| Current assets | 29/58 | €104,097 | €188,812 | +€84,714 | +81.4% |
| Amounts receivable within one year | 40/41 | €23,834 | €39,063 | +€15,229 | +63.9% |
| Trade receivables | 40 | €20,000 | €30,601 | +€10,601 | +53.0% |
| Other amounts receivable | 41 | €3,834 | €8,462 | +€4,628 | +121% |
| Current investments | 50/53 | €30,413 | €30,413 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €49,851 | €119,336 | +€69,485 | +139% |
| Total equity and liabilities | 10/49 | €125,337 | €212,804 | +€87,467 | +69.8% |
| Equity | 10/15 | €17,020 | €17,020 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €12,020 | €12,020 | = | 0.0% |
| Distributable reserves | 133 | €12,020 | €12,020 | = | 0.0% |
| Amounts payable | 17/49 | €108,317 | €195,784 | +€87,467 | +80.8% |
| Amounts payable within one year | 42/48 | €108,317 | €195,784 | +€87,467 | +80.8% |
| Trade debts | 44 | €2,002 | €13,976 | +€11,974 | +598% |
| Suppliers | 440/4 | €2,002 | €13,976 | +€11,974 | +598% |
| Taxes, remuneration and social security | 45 | €29,340 | €29,943 | +€603 | +2.1% |
| Taxes | 450/3 | €29,340 | €29,943 | +€603 | +2.1% |
| Other amounts payable | 47/48 | €76,974 | €151,865 | +€74,890 | +97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,549 | €9,247 | +€2,698 | +41.2% |
| Other operating charges | 640/8 | €619 | €582 | -€37 | -6.0% |
| Gross operating margin | 9900 | €164,569 | €118,892 | -€45,677 | -27.8% |
| Operating profit (loss) | 9901 | €157,401 | €109,062 | -€48,339 | -30.7% |
| Financial income | 75/76B | €714 | - | -€714 | |
| Recurring financial income | 75 | €714 | - | -€714 | |
| Financial charges | 65/66B | €827 | €362 | -€465 | -56.3% |
| Recurring financial charges | 65 | €827 | €362 | -€465 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | €157,288 | €108,700 | -€48,587 | -30.9% |
| Income taxes | 67/77 | €38,559 | €26,538 | -€12,021 | -31.2% |
| Profit (loss) for the period | 9904 | €118,729 | €82,162 | -€36,567 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €118,729 | €82,162 | -€36,567 | -30.8% |
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.