STIKSEL: 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.
STIKSEL
Largest movements
- Receivables within one year -€46,854
down €46,854 (-42.0%), from €111,573 to €64,720
of which Trade receivables: -€30,617
- Cash +€28,783
up €28,783 (+102.5%), from €28,085 to €56,867
mainly Receivables within one year (+€46,854) and Depreciation (+€28,131)
- Tangible fixed assets -€16,162
down €16,162 (-25.9%), from €62,280 to €46,119
of which Plant, machinery and equipment: -€15,252
- Intangible fixed assets -€11,075
down €11,075 (-21.0%), from €52,707 to €41,632
- Stocks and contracts -€5,932
down €5,932 (-36.4%), from €16,282 to €10,350
- Other debts -€29,000
down €29,000 (-26.3%), from €110,378 to €81,378
- Debts after one year -€20,020
down €20,020 (-32.5%), from €61,643 to €41,623
- Trade debts -€17,142
down €17,142 (-33.6%), from €51,046 to €33,904
- Tax, wage and social debts +€12,156
up €12,156 (+129.9%), from €9,356 to €21,511
of which Remuneration and social security: +€9,957
- Gross operating margin +€28,655
up €28,655 (+23.8%), from €120,213 to €148,868
- Staff costs +€24,719
up €24,719 (+29.5%), from €83,759 to €108,478
- Depreciation +€3,064
up €3,064 (+12.2%), from €25,067 to €28,131
- Taxes +€1,882
up €1,882 (+165.3%), from €1,139 to €3,021
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 | €274,921 | €222,260 | -€52,661 | -19.2% |
| Fixed assets | 21/28 | €114,988 | €87,751 | -€27,237 | -23.7% |
| Intangible fixed assets | 21 | €52,707 | €41,632 | -€11,075 | -21.0% |
| Tangible fixed assets | 22/27 | €62,280 | €46,119 | -€16,162 | -25.9% |
| Plant, machinery and equipment | 23 | €45,886 | €30,635 | -€15,252 | -33.2% |
| Other tangible fixed assets | 26 | €16,394 | €15,484 | -€910 | -5.6% |
| Current assets | 29/58 | €159,934 | €134,509 | -€25,424 | -15.9% |
| Stocks and contracts in progress | 3 | €16,282 | €10,350 | -€5,932 | -36.4% |
| Stocks | 30/36 | €16,282 | €10,350 | -€5,932 | -36.4% |
| Amounts receivable within one year | 40/41 | €111,573 | €64,720 | -€46,854 | -42.0% |
| Trade receivables | 40 | €92,357 | €61,740 | -€30,617 | -33.2% |
| Other amounts receivable | 41 | €19,216 | €2,979 | -€16,237 | -84.5% |
| Cash at bank and in hand | 54/58 | €28,085 | €56,867 | +€28,783 | +102.5% |
| Deferred charges and accrued income | 490/1 | €3,993 | €2,572 | -€1,421 | -35.6% |
| Total equity and liabilities | 10/49 | €274,921 | €222,260 | -€52,661 | -19.2% |
| Equity | 10/15 | €21,615 | €23,144 | +€1,529 | +7.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,615 | €18,144 | +€1,529 | +9.2% |
| Amounts payable | 17/49 | €253,307 | €199,116 | -€54,190 | -21.4% |
| Amounts payable after more than one year | 17 | €61,643 | €41,623 | -€20,020 | -32.5% |
| Financial debts | 170/4 | €61,643 | €41,623 | -€20,020 | -32.5% |
| Amounts payable within one year | 42/48 | €191,664 | €157,493 | -€34,170 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €20,884 | €20,700 | -€185 | -0.9% |
| Trade debts | 44 | €51,046 | €33,904 | -€17,142 | -33.6% |
| Suppliers | 440/4 | €51,046 | €33,904 | -€17,142 | -33.6% |
| Taxes, remuneration and social security | 45 | €9,356 | €21,511 | +€12,156 | +129.9% |
| Taxes | 450/3 | - | €2,199 | +€2,199 | |
| Remuneration and social security | 454/9 | €9,356 | €19,313 | +€9,957 | +106.4% |
| Other amounts payable | 47/48 | €110,378 | €81,378 | -€29,000 | -26.3% |
| Remuneration, social security and pensions | 62 | €83,759 | €108,478 | +€24,719 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,067 | €28,131 | +€3,064 | +12.2% |
| Other operating charges | 640/8 | €197 | €165 | -€33 | -16.5% |
| Gross operating margin | 9900 | €120,213 | €148,868 | +€28,655 | +23.8% |
| Operating profit (loss) | 9901 | €11,190 | €12,095 | +€905 | +8.1% |
| Financial income | 75/76B | €0 | €41 | +€41 | +59085.7% |
| Recurring financial income | 75 | €0 | €41 | +€41 | +59085.7% |
| Financial charges | 65/66B | €7,327 | €7,586 | +€260 | +3.5% |
| Recurring financial charges | 65 | €7,327 | €7,586 | +€260 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €3,864 | €4,550 | +€686 | +17.8% |
| Income taxes | 67/77 | €1,139 | €3,021 | +€1,882 | +165.3% |
| Profit (loss) for the period | 9904 | €2,725 | €1,529 | -€1,196 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,725 | €1,529 | -€1,196 | -43.9% |
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 5 October 2026 via checked.be.