STIMUL-US: 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.
STIMUL-US
Largest movements
- Tangible fixed assets -€10,953
down €10,953 (-100%), from €10,953 to €0
- Receivables within one year -€10,902
down €10,902 (-27.5%), from €39,577 to €28,675
of which Trade receivables: -€11,233
- Deferred charges and accrued income +€3,001
up €3,001, from €0 to €3,001
- Cash +€625
up €625 (+160%), from €391 to €1,016
mainly Receivables within one year (+€10,902) and Investment in fixed assets (net) (+€7,302)
- Current portion of long-term debt -€9,236
down €9,236 (-100%), from €9,236 to €0
- Profit (loss) carried forward -€3,501
down €3,501 (-74.2%), from -€4,721 to -€8,221
- Short-term financial debts -€2,820
down €2,820 (-45.7%), from €6,168 to €3,348
- Debts after one year -€1,497
down €1,497 (-100%), from €1,497 to €0
- Tax, wage and social debts -€1,439
down €1,439 (-43.3%), from €3,326 to €1,887
- Gross operating margin -€3,430
down €3,430 (-31.4%), from €10,911 to €7,480
- Financial charges -€1,063
down €1,063 (-44.5%), from €2,387 to €1,324
- Other operating charges +€367
up €367 (+42.3%), from €868 to €1,235
- Taxes -€331
down €331 (-47.7%), from €694 to €363
From the 2022 result to the 2023 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.
Derived cash bridge
Derived from the 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,920 | €32,692 | -€18,228 | -35.8% |
| Fixed assets | 21/28 | €10,953 | €0 | -€10,953 | -100% |
| Tangible fixed assets | 22/27 | €10,953 | €0 | -€10,953 | -100% |
| Leasing and similar rights | 25 | €10,953 | €0 | -€10,953 | -100% |
| Current assets | 29/58 | €39,967 | €32,692 | -€7,275 | -18.2% |
| Amounts receivable within one year | 40/41 | €39,577 | €28,675 | -€10,902 | -27.5% |
| Trade receivables | 40 | €24,458 | €13,226 | -€11,233 | -45.9% |
| Other amounts receivable | 41 | €15,118 | €15,449 | +€331 | +2.2% |
| Cash at bank and in hand | 54/58 | €391 | €1,016 | +€625 | +160% |
| Deferred charges and accrued income | 490/1 | €0 | €3,001 | +€3,001 | |
| Total equity and liabilities | 10/49 | €50,920 | €32,692 | -€18,228 | -35.8% |
| Equity | 10/15 | €10,139 | €6,639 | -€3,501 | -34.5% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 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 | -€4,721 | -€8,221 | -€3,501 | -74.2% |
| Amounts payable | 17/49 | €40,780 | €26,053 | -€14,727 | -36.1% |
| Amounts payable after more than one year | 17 | €1,497 | €0 | -€1,497 | -100% |
| Financial debts | 170/4 | €1,497 | €0 | -€1,497 | -100% |
| Amounts payable within one year | 42/48 | €38,996 | €26,053 | -€12,943 | -33.2% |
| Current portion of amounts payable after more than one year | 42 | €9,236 | €0 | -€9,236 | -100% |
| Financial debts | 43 | €6,168 | €3,348 | -€2,820 | -45.7% |
| Credit institutions | 430/8 | €6,168 | €3,348 | -€2,820 | -45.7% |
| Trade debts | 44 | €5,182 | €5,151 | -€31 | -0.6% |
| Suppliers | 440/4 | €5,182 | €5,151 | -€31 | -0.6% |
| Taxes, remuneration and social security | 45 | €3,326 | €1,887 | -€1,439 | -43.3% |
| Taxes | 450/3 | €3,326 | €1,887 | -€1,439 | -43.3% |
| Other amounts payable | 47/48 | €15,083 | €15,667 | +€583 | +3.9% |
| Accrued charges and deferred income | 492/3 | €287 | €0 | -€287 | -100% |
| Non-recurring operating income | 76A | €55 | €347 | +€292 | +532% |
| Remuneration, social security and pensions | 62 | - | €94 | +€94 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,651 | €3,651 | = | 0.0% |
| Other operating charges | 640/8 | €868 | €1,235 | +€367 | +42.3% |
| Non-recurring operating charges | 66A | €5,927 | €4,321 | -€1,605 | -27.1% |
| Gross operating margin | 9900 | €10,911 | €7,480 | -€3,430 | -31.4% |
| Operating profit (loss) | 9901 | €465 | -€1,821 | -€2,286 | |
| Financial income | 75/76B | €0 | €7 | +€7 | |
| Recurring financial income | 75 | €0 | €7 | +€7 | |
| Financial charges | 65/66B | €2,387 | €1,324 | -€1,063 | -44.5% |
| Recurring financial charges | 65 | €2,387 | €1,324 | -€1,063 | -44.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,922 | -€3,138 | -€1,216 | -63.3% |
| Income taxes | 67/77 | €694 | €363 | -€331 | -47.7% |
| Profit (loss) for the period | 9904 | -€2,616 | -€3,501 | -€884 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,616 | -€3,501 | -€884 | -33.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.