Stijn Stuct: 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.
Stijn Stuct
Largest movements
- Receivables within one year +€29,309
up €29,309 (+458.0%), from €6,399 to €35,709
of which Trade receivables: +€26,590
- Tangible fixed assets +€15,482
up €15,482 (+41.4%), from €37,424 to €52,906
of which Leasing and similar rights: +€17,719
- Cash +€8,458
up €8,458 (+1247.4%), from €678 to €9,136
mainly Trade debts (+€26,291) and Net result for the year (+€12,468)
- Stocks and contracts -€1,876
down €1,876 (-100.0%), from €1,876 to €0
- Trade debts +€26,291
up €26,291 (+1113.6%), from €2,361 to €28,651
- Profit (loss) carried forward +€12,468
up €12,468 (+1072.1%), from €1,163 to €13,631
- Debts after one year +€5,925
up €5,925 (+19.1%), from €30,946 to €36,871
- Current portion of long-term debt +€3,932
up €3,932 (+50.1%), from €7,847 to €11,778
- Tax, wage and social debts +€2,887
up €2,887 (+171.1%), from €1,688 to €4,575
- Gross operating margin +€18,801
up €18,801 (+144.9%), from €12,978 to €31,778
- Depreciation +€3,293
up €3,293 (+43.6%), from €7,561 to €10,854
- Taxes +€2,827
up €2,827 (+371.6%), from €761 to €3,587
- Financial charges +€795
up €795 (+33.7%), from €2,361 to €3,156
- Other operating charges +€579
up €579 (+49.5%), from €1,169 to €1,748
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 | €47,005 | €98,388 | +€51,383 | +109.3% |
| Fixed assets | 21/28 | €37,424 | €52,906 | +€15,482 | +41.4% |
| Tangible fixed assets | 22/27 | €37,424 | €52,906 | +€15,482 | +41.4% |
| Plant, machinery and equipment | 23 | €20,790 | €19,753 | -€1,038 | -5.0% |
| Furniture and vehicles | 24 | €16,634 | €15,434 | -€1,200 | -7.2% |
| Leasing and similar rights | 25 | - | €17,719 | +€17,719 | |
| Current assets | 29/58 | €9,581 | €45,482 | +€35,901 | +374.7% |
| Stocks and contracts in progress | 3 | €1,876 | €0 | -€1,876 | -100.0% |
| Stocks | 30/36 | €1,876 | €0 | -€1,876 | -100.0% |
| Amounts receivable within one year | 40/41 | €6,399 | €35,709 | +€29,309 | +458.0% |
| Trade receivables | 40 | €5,952 | €32,542 | +€26,590 | +446.7% |
| Other amounts receivable | 41 | €447 | €3,167 | +€2,720 | +608.2% |
| Cash at bank and in hand | 54/58 | €678 | €9,136 | +€8,458 | +1247.4% |
| Deferred charges and accrued income | 490/1 | €628 | €638 | +€10 | +1.6% |
| Total equity and liabilities | 10/49 | €47,005 | €98,388 | +€51,383 | +109.3% |
| Equity | 10/15 | €3,163 | €15,631 | +€12,468 | +394.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,163 | €13,631 | +€12,468 | +1072.1% |
| Amounts payable | 17/49 | €43,842 | €82,757 | +€38,915 | +88.8% |
| Amounts payable after more than one year | 17 | €30,946 | €36,871 | +€5,925 | +19.1% |
| Financial debts | 170/4 | €30,946 | €36,871 | +€5,925 | +19.1% |
| Amounts payable within one year | 42/48 | €11,895 | €45,004 | +€33,109 | +278.3% |
| Current portion of amounts payable after more than one year | 42 | €7,847 | €11,778 | +€3,932 | +50.1% |
| Trade debts | 44 | €2,361 | €28,651 | +€26,291 | +1113.6% |
| Suppliers | 440/4 | €2,361 | €28,651 | +€26,291 | +1113.6% |
| Taxes, remuneration and social security | 45 | €1,688 | €4,575 | +€2,887 | +171.1% |
| Taxes | 450/3 | €1,688 | €4,575 | +€2,887 | +171.1% |
| Accrued charges and deferred income | 492/3 | €1,001 | €882 | -€119 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,561 | €10,854 | +€3,293 | +43.6% |
| Other operating charges | 640/8 | €1,169 | €1,748 | +€579 | +49.5% |
| Gross operating margin | 9900 | €12,978 | €31,778 | +€18,801 | +144.9% |
| Operating profit (loss) | 9901 | €4,248 | €19,177 | +€14,929 | +351.5% |
| Financial income | 75/76B | €37 | €35 | -€2 | -4.7% |
| Recurring financial income | 75 | €37 | €35 | -€2 | -4.7% |
| Financial charges | 65/66B | €2,361 | €3,156 | +€795 | +33.7% |
| Recurring financial charges | 65 | €2,361 | €3,156 | +€795 | +33.7% |
| Profit (loss) for the period before taxes | 9903 | €1,924 | €16,056 | +€14,132 | +734.7% |
| Income taxes | 67/77 | €761 | €3,587 | +€2,827 | +371.6% |
| Profit (loss) for the period | 9904 | €1,163 | €12,468 | +€11,305 | +972.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,163 | €12,468 | +€11,305 | +972.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.