STO Management: what changed
STO Management
Largest movements
- Receivables within one year -€25,239
down €25,239 (-24.1%), from €104,609 to €79,371
of which Other amounts receivable: -€19,462
- Tangible fixed assets -€8,924
down €8,924 (-29.2%), from €30,539 to €21,615
of which Plant, machinery and equipment: -€5,738
- Deferred charges and accrued income -€6,683
down €6,683 (-65.1%), from €10,262 to €3,580
- Cash -€4,816
down €4,816 (-88.8%), from €5,425 to €609
mainly Tax, wage and social debts (-€24,470) and Accrued charges and deferred income (-€17,915)
- Tax, wage and social debts -€24,470
down €24,470 (-62.0%), from €39,487 to €15,017
- Accrued charges and deferred income -€17,915
down €17,915 (-46.9%), from €38,189 to €20,273
- Profit (loss) carried forward -€7,814
down €7,814 (-75.8%), from €10,309 to €2,495
- Debts after one year -€6,089
no longer reported in 2025 (was €6,089)
- Trade debts +€3,578
up €3,578 (+252%), from €1,418 to €4,996
- Gross operating margin -€28,314
down €28,314 (-53.9%), from €52,511 to €24,197
- Taxes -€11,674
down €11,674 (-93.9%), from €12,431 to €757
- Depreciation +€3,281
up €3,281 (+58.1%), from €5,643 to €8,924
- Other operating charges -€2,187
down €2,187 (-39.9%), from €5,484 to €3,297
- Financial income -€1,037
down €1,037 (-18.8%), from €5,515 to €4,478
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,636 | €105,975 | -€45,662 | -30.1% |
| Fixed assets | 21/28 | €31,039 | €22,115 | -€8,924 | -28.8% |
| Tangible fixed assets | 22/27 | €30,539 | €21,615 | -€8,924 | -29.2% |
| Plant, machinery and equipment | 23 | €19,294 | €13,557 | -€5,738 | -29.7% |
| Furniture and vehicles | 24 | €4,376 | €2,327 | -€2,049 | -46.8% |
| Other tangible fixed assets | 26 | €6,869 | €5,732 | -€1,137 | -16.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €120,597 | €83,859 | -€36,738 | -30.5% |
| Amounts receivable within one year | 40/41 | €104,609 | €79,371 | -€25,239 | -24.1% |
| Trade receivables | 40 | €16,363 | €10,586 | -€5,777 | -35.3% |
| Other amounts receivable | 41 | €88,247 | €68,785 | -€19,462 | -22.1% |
| Current investments | 50/53 | €300 | €300 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,425 | €609 | -€4,816 | -88.8% |
| Deferred charges and accrued income | 490/1 | €10,262 | €3,580 | -€6,683 | -65.1% |
| Total equity and liabilities | 10/49 | €151,636 | €105,975 | -€45,662 | -30.1% |
| Equity | 10/15 | €29,850 | €22,036 | -€7,814 | -26.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €941 | €941 | = | 0.0% |
| Non-distributable reserves | 130/1 | €941 | €941 | = | 0.0% |
| Reserves not available under the articles | 1311 | €941 | €941 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,309 | €2,495 | -€7,814 | -75.8% |
| Amounts payable | 17/49 | €121,786 | €83,939 | -€37,847 | -31.1% |
| Amounts payable after more than one year | 17 | €6,089 | - | -€6,089 | |
| Financial debts | 170/4 | €6,089 | - | -€6,089 | |
| Amounts payable within one year | 42/48 | €77,508 | €63,665 | -€13,843 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €9,716 | €11,515 | +€1,798 | +18.5% |
| Financial debts | 43 | €8,737 | €10,859 | +€2,122 | +24.3% |
| Credit institutions | 430/8 | €8,737 | €10,859 | +€2,122 | +24.3% |
| Trade debts | 44 | €1,418 | €4,996 | +€3,578 | +252% |
| Suppliers | 440/4 | €1,418 | €4,996 | +€3,578 | +252% |
| Advances received on contracts in progress | 46 | - | €3,129 | +€3,129 | |
| Taxes, remuneration and social security | 45 | €39,487 | €15,017 | -€24,470 | -62.0% |
| Taxes | 450/3 | €39,487 | €15,017 | -€24,470 | -62.0% |
| Other amounts payable | 47/48 | €18,150 | €18,150 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €38,189 | €20,273 | -€17,915 | -46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,643 | €8,924 | +€3,281 | +58.1% |
| Other operating charges | 640/8 | €5,484 | €3,297 | -€2,187 | -39.9% |
| Non-recurring operating charges | 66A | - | €14,000 | +€14,000 | |
| Gross operating margin | 9900 | €52,511 | €24,197 | -€28,314 | -53.9% |
| Operating profit (loss) | 9901 | €41,384 | -€2,024 | -€43,408 | |
| Financial income | 75/76B | €5,515 | €4,478 | -€1,037 | -18.8% |
| Recurring financial income | 75 | €5,515 | €4,478 | -€1,037 | -18.8% |
| Financial charges | 65/66B | €9,134 | €9,511 | +€377 | +4.1% |
| Recurring financial charges | 65 | €9,134 | €9,511 | +€377 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €37,765 | -€7,057 | -€44,823 | |
| Income taxes | 67/77 | €12,431 | €757 | -€11,674 | -93.9% |
| Profit (loss) for the period | 9904 | €25,334 | -€7,814 | -€33,148 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,334 | -€7,814 | -€33,148 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.