STIFRA: what changed
STIFRA
Largest movements
- Receivables within one year -€115,985
down €115,985 (-43.0%), from €269,551 to €153,566
of which Trade receivables: -€166,422
- Intangible fixed assets -€12,463
down €12,463 (-17.8%), from €69,925 to €57,463
- Cash -€7,864
down €7,864 (-70.0%), from €11,237 to €3,372
mainly Trade debts (-€92,016) and Advances received (-€52,786)
- Tangible fixed assets -€4,329
down €4,329 (-13.0%), from €33,184 to €28,855
of which Land and buildings: -€6,580
- Trade debts -€92,016
down €92,016 (-41.5%), from €221,723 to €129,708
- Advances received -€52,786
down €52,786 (-70.9%), from €74,500 to €21,714
- Debts after one year -€24,520
down €24,520 (-31.5%), from €77,959 to €53,440
- Tax, wage and social debts +€15,572
up €15,572 (+28.2%), from €55,141 to €70,713
of which Remuneration and social security: +€24,802
- Profit (loss) carried forward +€8,901
up €8,901 (+13.6%), from -€65,274 to -€56,374
- Other operating charges -€215,213
down €215,213 (-98.4%), from €218,628 to €3,414
- Staff costs -€49,226
down €49,226 (-14.8%), from €332,368 to €283,141
- Gross operating margin -€19,307
down €19,307 (-5.3%), from €361,907 to €342,600
- Taxes +€10,329
up €10,329 (+499%), from €2,069 to €12,398
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 | €397,918 | €255,232 | -€142,686 | -35.9% |
| Fixed assets | 21/28 | €103,401 | €86,609 | -€16,792 | -16.2% |
| Intangible fixed assets | 21 | €69,925 | €57,463 | -€12,463 | -17.8% |
| Tangible fixed assets | 22/27 | €33,184 | €28,855 | -€4,329 | -13.0% |
| Land and buildings | 22 | €6,580 | €0 | -€6,580 | -100% |
| Plant, machinery and equipment | 23 | €23,128 | €17,340 | -€5,788 | -25.0% |
| Furniture and vehicles | 24 | €490 | €0 | -€490 | -100% |
| Other tangible fixed assets | 26 | €2,986 | €11,515 | +€8,529 | +286% |
| Financial fixed assets | 28 | €292 | €292 | = | 0.0% |
| Current assets | 29/58 | €294,517 | €168,623 | -€125,894 | -42.7% |
| Stocks and contracts in progress | 3 | €4,563 | €5,153 | +€590 | +12.9% |
| Stocks | 30/36 | €4,563 | €5,153 | +€590 | +12.9% |
| Amounts receivable within one year | 40/41 | €269,551 | €153,566 | -€115,985 | -43.0% |
| Trade receivables | 40 | €212,280 | €45,858 | -€166,422 | -78.4% |
| Other amounts receivable | 41 | €57,271 | €107,708 | +€50,437 | +88.1% |
| Cash at bank and in hand | 54/58 | €11,237 | €3,372 | -€7,864 | -70.0% |
| Deferred charges and accrued income | 490/1 | €9,166 | €6,532 | -€2,634 | -28.7% |
| Total equity and liabilities | 10/49 | €397,918 | €255,232 | -€142,686 | -35.9% |
| Equity | 10/15 | -€57,214 | -€48,314 | +€8,901 | +15.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,274 | -€56,374 | +€8,901 | +13.6% |
| Amounts payable | 17/49 | €455,132 | €303,546 | -€151,587 | -33.3% |
| Amounts payable after more than one year | 17 | €77,959 | €53,440 | -€24,520 | -31.5% |
| Financial debts | 170/4 | €77,959 | €53,440 | -€24,520 | -31.5% |
| Amounts payable within one year | 42/48 | €377,173 | €247,076 | -€130,097 | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €25,809 | €24,520 | -€1,289 | -5.0% |
| Trade debts | 44 | €221,723 | €129,708 | -€92,016 | -41.5% |
| Suppliers | 440/4 | €221,723 | €129,708 | -€92,016 | -41.5% |
| Advances received on contracts in progress | 46 | €74,500 | €21,714 | -€52,786 | -70.9% |
| Taxes, remuneration and social security | 45 | €55,141 | €70,713 | +€15,572 | +28.2% |
| Taxes | 450/3 | €27,683 | €18,454 | -€9,229 | -33.3% |
| Remuneration and social security | 454/9 | €27,458 | €52,259 | +€24,802 | +90.3% |
| Other amounts payable | 47/48 | €0 | €422 | +€422 | |
| Accrued charges and deferred income | 492/3 | - | €3,030 | +€3,030 | |
| Remuneration, social security and pensions | 62 | €332,368 | €283,141 | -€49,226 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,325 | €21,462 | -€864 | -3.9% |
| Other operating charges | 640/8 | €218,628 | €3,414 | -€215,213 | -98.4% |
| Gross operating margin | 9900 | €361,907 | €342,600 | -€19,307 | -5.3% |
| Operating profit (loss) | 9901 | -€211,413 | €34,583 | +€245,996 | |
| Financial income | 75/76B | €164 | €0 | -€164 | -100% |
| Recurring financial income | 75 | €164 | €0 | -€164 | -100% |
| Financial charges | 65/66B | €15,820 | €13,284 | -€2,536 | -16.0% |
| Recurring financial charges | 65 | €15,820 | €13,284 | -€2,536 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | -€227,070 | €21,299 | +€248,369 | |
| Income taxes | 67/77 | €2,069 | €12,398 | +€10,329 | +499% |
| Profit (loss) for the period | 9904 | -€229,139 | €8,901 | +€238,040 | |
| Profit (loss) for the period to be appropriated | 9905 | -€229,139 | €8,901 | +€238,040 |
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 6 November 2026 via checked.be.