STIRWEN: what changed
What changed
STIRWEN
NACE 56.111, Full-service restaurants
filed annual accounts (NBB)
Net result for the year
€33,260
2024 · €42,898-€9,639
Equity
€161,103
2024 · €170,076-€8,973
Cash
€34,260
2024 · €51,806-€17,546
Balance sheet total
€684,167
2024 · €820,154-€135,987
Largest movements
Assets
- Receivables within one year -€102,624
down €102,624 (-44.9%), from €228,574 to €125,950
of which Other amounts receivable: -€63,854
- Tangible fixed assets -€37,799
down €37,799 (-7.9%), from €480,024 to €442,226
- Stocks and contracts +€24,798
up €24,798 (+49.0%), from €50,631 to €75,429
- Cash -€17,546
down €17,546 (-33.9%), from €51,806 to €34,260
mainly Debts after one year (-€75,967) and Trade debts (-€54,734)
Equity and liabilities
- Debts after one year -€75,967
down €75,967 (-17.8%), from €427,336 to €351,369
- Trade debts -€54,734
down €54,734 (-59.6%), from €91,893 to €37,159
- Reserves -€39,032
no longer reported in 2025 (was €39,032)
- Profit (loss) carried forward +€33,260
up €33,260 (+40.1%), from €82,943 to €116,203
Income statement
- Depreciation -€18,688
down €18,688 (-25.9%), from €72,132 to €53,444
- Gross operating margin -€17,526
down €17,526 (-5.8%), from €304,539 to €287,013
- Staff costs +€13,782
up €13,782 (+8.9%), from €155,190 to €168,973
- Taxes -€6,512
down €6,512 (-37.7%), from €17,283 to €10,771
- Financial income -€4,790
down €4,790 (-59.0%), from €8,120 to €3,329
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.
Result 2024
€42,898
Gross operating margin
-€17,526
Staff costs
-€13,782
Depreciation
+€18,688
Other operating charges
-€782
Other operating items
-€875
Financial income
-€4,790
Financial charges
+€2,917
Taxes
+€6,512
Result 2025
€33,260
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€116,727
Investment
-€14,534
Financing
-€119,740
Cash 2024
€51,806
From operations (derived)
+€116,727
Net result for the year
+€33,260
Depreciation
+€53,444
Stocks and contracts
-€24,798
Receivables within one year
+€102,624
Deferred charges and accrued income
+€1,705
Trade debts
-€54,734
Tax, wage and social debts
+€471
Advances received
+€1,350
Accrued charges and deferred income
+€3,406
Investment (derived)
-€14,534
Investment in fixed assets (net)
-€14,534
Financing
-€119,740
Debts after one year
-€75,967
Current portion of long-term debt
-€1,881
Short-term financial debts
+€340
Contributions, distributions and other
-€42,232
Cash 2025
€34,260
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €820,154 | €684,167 | -€135,987 | -16.6% |
| Fixed assets | 21/28 | €482,477 | €443,567 | -€38,910 | -8.1% |
| Intangible fixed assets | 21 | €2,453 | €1,341 | -€1,111 | -45.3% |
| Tangible fixed assets | 22/27 | €480,024 | €442,226 | -€37,799 | -7.9% |
| Land and buildings | 22 | €183,793 | €175,198 | -€8,595 | -4.7% |
| Plant, machinery and equipment | 23 | €8,217 | €7,677 | -€540 | -6.6% |
| Furniture and vehicles | 24 | €11,702 | €8,381 | -€3,321 | -28.4% |
| Leasing and similar rights | 25 | €60,759 | €52,914 | -€7,845 | -12.9% |
| Other tangible fixed assets | 26 | €215,554 | €198,056 | -€17,498 | -8.1% |
| Current assets | 29/58 | €337,677 | €240,600 | -€97,077 | -28.7% |
| Stocks and contracts in progress | 3 | €50,631 | €75,429 | +€24,798 | +49.0% |
| Stocks | 30/36 | €50,631 | €75,429 | +€24,798 | +49.0% |
| Amounts receivable within one year | 40/41 | €228,574 | €125,950 | -€102,624 | -44.9% |
| Trade receivables | 40 | €106,967 | €68,198 | -€38,770 | -36.2% |
| Other amounts receivable | 41 | €121,606 | €57,752 | -€63,854 | -52.5% |
| Cash at bank and in hand | 54/58 | €51,806 | €34,260 | -€17,546 | -33.9% |
| Deferred charges and accrued income | 490/1 | €6,666 | €4,961 | -€1,705 | -25.6% |
| Total equity and liabilities | 10/49 | €820,154 | €684,167 | -€135,987 | -16.6% |
| Equity | 10/15 | €170,076 | €161,103 | -€8,973 | -5.3% |
| Contributions | 10/11 | €22,500 | €22,500 | = | 0.0% |
| Reserves | 13 | €39,032 | - | -€39,032 | |
| Distributable reserves | 133 | €39,032 | - | -€39,032 | |
| Profit (loss) carried forward | 14 | €82,943 | €116,203 | +€33,260 | +40.1% |
| Investment grants | 15 | €25,600 | €22,400 | -€3,200 | -12.5% |
| Amounts payable | 17/49 | €650,078 | €523,063 | -€127,015 | -19.5% |
| Amounts payable after more than one year | 17 | €427,336 | €351,369 | -€75,967 | -17.8% |
| Financial debts | 170/4 | €427,336 | €351,369 | -€75,967 | -17.8% |
| Amounts payable within one year | 42/48 | €222,648 | €168,194 | -€54,454 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €86,656 | €84,775 | -€1,881 | -2.2% |
| Financial debts | 43 | €415 | €755 | +€340 | +81.9% |
| Credit institutions | 430/8 | €415 | €755 | +€340 | +81.9% |
| Trade debts | 44 | €91,893 | €37,159 | -€54,734 | -59.6% |
| Suppliers | 440/4 | €91,893 | €37,159 | -€54,734 | -59.6% |
| Advances received on contracts in progress | 46 | - | €1,350 | +€1,350 | |
| Taxes, remuneration and social security | 45 | €43,684 | €44,155 | +€471 | +1.1% |
| Taxes | 450/3 | €26,887 | €19,092 | -€7,795 | -29.0% |
| Remuneration and social security | 454/9 | €16,797 | €25,064 | +€8,267 | +49.2% |
| Accrued charges and deferred income | 492/3 | €94 | €3,500 | +€3,406 | +3,612% |
| Remuneration, social security and pensions | 62 | €155,190 | €168,973 | +€13,782 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,132 | €53,444 | -€18,688 | -25.9% |
| Other operating charges | 640/8 | €7,878 | €8,660 | +€782 | +9.9% |
| Non-recurring operating charges | 66A | - | €875 | +€875 | |
| Gross operating margin | 9900 | €304,539 | €287,013 | -€17,526 | -5.8% |
| Operating profit (loss) | 9901 | €69,339 | €55,061 | -€14,277 | -20.6% |
| Financial income | 75/76B | €8,120 | €3,329 | -€4,790 | -59.0% |
| Recurring financial income | 75 | €8,120 | €3,329 | -€4,790 | -59.0% |
| Financial charges | 65/66B | €17,277 | €14,360 | -€2,917 | -16.9% |
| Recurring financial charges | 65 | €17,277 | €14,360 | -€2,917 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €60,181 | €44,031 | -€16,150 | -26.8% |
| Income taxes | 67/77 | €17,283 | €10,771 | -€6,512 | -37.7% |
| Profit (loss) for the period | 9904 | €42,898 | €33,260 | -€9,639 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,898 | €33,260 | -€9,639 | -22.5% |
Next steps
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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 4 November 2026 via checked.be.