STN: 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.
STN
Largest movements
- Cash +€94,257
up €94,257 (+63.2%), from €149,147 to €243,404
mainly Net result for the year (+€81,512) and Other debts (+€43,595)
- Receivables within one year -€17,454
down €17,454 (-46.0%), from €37,941 to €20,488
of which Trade receivables: -€12,094
- Tangible fixed assets -€9,222
down €9,222 (-14.2%), from €64,993 to €55,770
of which Furniture and vehicles: -€8,138
- Other debts +€43,595
up €43,595 (+247.8%), from €17,594 to €61,188
- Reserves +€18,885
up €18,885 (+7.2%), from €260,916 to €279,802
of which Distributable reserves: +€18,885
- Gross operating margin -€8,919
down €8,919 (-6.4%), from €139,248 to €130,329
- Financial income +€3,196
up €3,196 (+10785.3%), from €30 to €3,225
- Taxes -€2,317
down €2,317 (-5.7%), from €40,669 to €38,352
- Depreciation +€1,627
up €1,627 (+14.3%), from €11,338 to €12,965
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 | €299,159 | €363,569 | +€64,410 | +21.5% |
| Fixed assets | 21/28 | €65,179 | €55,956 | -€9,222 | -14.1% |
| Tangible fixed assets | 22/27 | €64,993 | €55,770 | -€9,222 | -14.2% |
| Plant, machinery and equipment | 23 | €3,277 | €2,039 | -€1,238 | -37.8% |
| Furniture and vehicles | 24 | €34,513 | €26,375 | -€8,138 | -23.6% |
| Other tangible fixed assets | 26 | €27,203 | €27,357 | +€154 | +0.6% |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €233,980 | €307,612 | +€73,632 | +31.5% |
| Stocks and contracts in progress | 3 | €6,342 | €3,171 | -€3,171 | -50.0% |
| Stocks | 30/36 | €6,342 | €3,171 | -€3,171 | -50.0% |
| Amounts receivable within one year | 40/41 | €37,941 | €20,488 | -€17,454 | -46.0% |
| Trade receivables | 40 | €29,966 | €17,872 | -€12,094 | -40.4% |
| Other amounts receivable | 41 | €7,975 | €2,616 | -€5,359 | -67.2% |
| Current investments | 50/53 | €40,550 | €40,550 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €149,147 | €243,404 | +€94,257 | +63.2% |
| Total equity and liabilities | 10/49 | €299,159 | €363,569 | +€64,410 | +21.5% |
| Equity | 10/15 | €267,116 | €286,002 | +€18,885 | +7.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €260,916 | €279,802 | +€18,885 | +7.2% |
| Non-distributable reserves | 130/1 | €8,359 | €8,359 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,359 | €8,359 | = | 0.0% |
| Distributable reserves | 133 | €252,557 | €271,442 | +€18,885 | +7.5% |
| Amounts payable | 17/49 | €32,042 | €77,567 | +€45,525 | +142.1% |
| Amounts payable within one year | 42/48 | €32,042 | €77,567 | +€45,525 | +142.1% |
| Trade debts | 44 | €1,981 | €3,192 | +€1,211 | +61.1% |
| Suppliers | 440/4 | €1,981 | €3,192 | +€1,211 | +61.1% |
| Taxes, remuneration and social security | 45 | €12,468 | €13,187 | +€719 | +5.8% |
| Taxes | 450/3 | €12,468 | €13,187 | +€719 | +5.8% |
| Other amounts payable | 47/48 | €17,594 | €61,188 | +€43,595 | +247.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,338 | €12,965 | +€1,627 | +14.3% |
| Other operating charges | 640/8 | €710 | €504 | -€206 | -29.0% |
| Gross operating margin | 9900 | €139,248 | €130,329 | -€8,919 | -6.4% |
| Operating profit (loss) | 9901 | €127,200 | €116,859 | -€10,340 | -8.1% |
| Financial income | 75/76B | €30 | €3,225 | +€3,196 | +10785.3% |
| Recurring financial income | 75 | €30 | €3,225 | +€3,196 | +10785.3% |
| Financial charges | 65/66B | €208 | €221 | +€13 | +6.4% |
| Recurring financial charges | 65 | €208 | €221 | +€13 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €127,021 | €119,863 | -€7,158 | -5.6% |
| Income taxes | 67/77 | €40,669 | €38,352 | -€2,317 | -5.7% |
| Profit (loss) for the period | 9904 | €86,353 | €81,512 | -€4,841 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €86,353 | €81,512 | -€4,841 | -5.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.