STilfulD: 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.
STilfulD
Largest movements
- Tangible fixed assets -€15,953
down €15,953 (-14.1%), from €112,884 to €96,931
of which Land and buildings: -€15,392
- Receivables within one year -€4,402
down €4,402 (-86.7%), from €5,077 to €675
of which Trade receivables: -€2,226
- Cash -€2,533
down €2,533 (-78.1%), from €3,243 to €710
mainly Net result for the year (-€14,106) and Other debts (-€4,788)
- Profit (loss) carried forward -€14,106
down €14,106 (-152.8%), from -€9,229 to -€23,335
- Other debts -€4,788
down €4,788 (-15.7%), from €30,398 to €25,610
- Debts after one year -€3,659
down €3,659 (-4.2%), from €86,594 to €82,935
- Gross operating margin -€11,234
down €11,234 (-63.3%), from €17,744 to €6,510
- Financial charges -€1,294
down €1,294 (-26.0%), from €4,975 to €3,681
- Depreciation -€1,272
down €1,272 (-17.8%), from €7,159 to €5,886
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 | €121,381 | €98,316 | -€23,065 | -19.0% |
| Fixed assets | 21/28 | €112,884 | €96,931 | -€15,953 | -14.1% |
| Tangible fixed assets | 22/27 | €112,884 | €96,931 | -€15,953 | -14.1% |
| Land and buildings | 22 | €112,323 | €96,931 | -€15,392 | -13.7% |
| Furniture and vehicles | 24 | €561 | - | -€561 | |
| Current assets | 29/58 | €8,497 | €1,384 | -€7,112 | -83.7% |
| Amounts receivable within one year | 40/41 | €5,077 | €675 | -€4,402 | -86.7% |
| Trade receivables | 40 | €2,901 | €675 | -€2,226 | -76.7% |
| Other amounts receivable | 41 | €2,176 | - | -€2,176 | |
| Cash at bank and in hand | 54/58 | €3,243 | €710 | -€2,533 | -78.1% |
| Deferred charges and accrued income | 490/1 | €177 | - | -€177 | |
| Total equity and liabilities | 10/49 | €121,381 | €98,316 | -€23,065 | -19.0% |
| Equity | 10/15 | -€286 | -€14,392 | -€14,106 | -4928.8% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €5,443 | €5,443 | = | 0.0% |
| Distributable reserves | 133 | €5,443 | €5,443 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,229 | -€23,335 | -€14,106 | -152.8% |
| Amounts payable | 17/49 | €121,667 | €112,708 | -€8,959 | -7.4% |
| Amounts payable after more than one year | 17 | €86,594 | €82,935 | -€3,659 | -4.2% |
| Financial debts | 170/4 | €86,594 | €82,935 | -€3,659 | -4.2% |
| Amounts payable within one year | 42/48 | €34,821 | €29,773 | -€5,048 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €3,516 | €3,659 | +€143 | +4.1% |
| Trade debts | 44 | €337 | €16 | -€321 | -95.2% |
| Suppliers | 440/4 | €337 | €16 | -€321 | -95.2% |
| Taxes, remuneration and social security | 45 | €570 | €488 | -€82 | -14.4% |
| Taxes | 450/3 | €570 | €488 | -€82 | -14.4% |
| Other amounts payable | 47/48 | €30,398 | €25,610 | -€4,788 | -15.7% |
| Accrued charges and deferred income | 492/3 | €253 | - | -€253 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,159 | €5,886 | -€1,272 | -17.8% |
| Other operating charges | 640/8 | €1,403 | €1,439 | +€36 | +2.6% |
| Non-recurring operating charges | 66A | €13,370 | €9,610 | -€3,761 | -28.1% |
| Gross operating margin | 9900 | €17,744 | €6,510 | -€11,234 | -63.3% |
| Operating profit (loss) | 9901 | -€4,188 | -€10,425 | -€6,237 | -148.9% |
| Financial charges | 65/66B | €4,975 | €3,681 | -€1,294 | -26.0% |
| Recurring financial charges | 65 | €4,975 | €3,681 | -€1,294 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,163 | -€14,106 | -€4,943 | -54.0% |
| Income taxes | 67/77 | €66 | - | -€66 | |
| Profit (loss) for the period | 9904 | -€9,229 | -€14,106 | -€4,877 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,229 | -€14,106 | -€4,877 | -52.8% |
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.