Stoax: 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.
Stoax
Largest movements
- Cash +€66,718
up €66,718 (+111%), from €59,864 to €126,581
mainly Net result for the year (+€55,648) and Tax, wage and social debts (+€8,027)
- Reserves +€55,648
up €55,648 (+79.8%), from €69,723 to €125,371
- Tax, wage and social debts +€8,027
up €8,027 (+94.0%), from €8,543 to €16,570
- Other debts +€2,356
up €2,356 (+57.9%), from €4,066 to €6,422
- Gross operating margin -€15,245
down €15,245 (-16.4%), from €92,863 to €77,618
- Taxes -€1,751
down €1,751 (-9.0%), from €19,550 to €17,800
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.
Derived cash bridge
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 | €88,819 | €155,521 | +€66,701 | +75.1% |
| Fixed assets | 21/28 | €1,089 | €615 | -€473 | -43.5% |
| Tangible fixed assets | 22/27 | €1,089 | €615 | -€473 | -43.5% |
| Furniture and vehicles | 24 | €1,089 | €615 | -€473 | -43.5% |
| Current assets | 29/58 | €87,731 | €154,905 | +€67,174 | +76.6% |
| Amounts receivable within one year | 40/41 | €25,972 | €26,389 | +€417 | +1.6% |
| Trade receivables | 40 | €25,522 | €26,150 | +€628 | +2.5% |
| Other amounts receivable | 41 | €450 | €239 | -€211 | -46.9% |
| Cash at bank and in hand | 54/58 | €59,864 | €126,581 | +€66,718 | +111% |
| Deferred charges and accrued income | 490/1 | €1,895 | €1,935 | +€40 | +2.1% |
| Total equity and liabilities | 10/49 | €88,819 | €155,521 | +€66,701 | +75.1% |
| Equity | 10/15 | €74,723 | €130,371 | +€55,648 | +74.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €69,723 | €125,371 | +€55,648 | +79.8% |
| Distributable reserves | 133 | €69,723 | €125,371 | +€55,648 | +79.8% |
| Amounts payable | 17/49 | €14,096 | €25,149 | +€11,053 | +78.4% |
| Amounts payable within one year | 42/48 | €14,096 | €25,149 | +€11,053 | +78.4% |
| Trade debts | 44 | €1,487 | €2,158 | +€671 | +45.1% |
| Suppliers | 440/4 | €1,487 | €2,158 | +€671 | +45.1% |
| Taxes, remuneration and social security | 45 | €8,543 | €16,570 | +€8,027 | +94.0% |
| Taxes | 450/3 | €8,543 | €16,570 | +€8,027 | +94.0% |
| Other amounts payable | 47/48 | €4,066 | €6,422 | +€2,356 | +57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €331 | €473 | +€142 | +43.0% |
| Other operating charges | 640/8 | €498 | €1,393 | +€896 | +180% |
| Gross operating margin | 9900 | €92,863 | €77,618 | -€15,245 | -16.4% |
| Operating profit (loss) | 9901 | €92,034 | €75,751 | -€16,283 | -17.7% |
| Financial income | 75/76B | - | €271 | +€271 | |
| Recurring financial income | 75 | - | €271 | +€271 | |
| Financial charges | 65/66B | €2,761 | €2,575 | -€186 | -6.7% |
| Recurring financial charges | 65 | €2,761 | €2,575 | -€186 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €89,273 | €73,448 | -€15,826 | -17.7% |
| Income taxes | 67/77 | €19,550 | €17,800 | -€1,751 | -9.0% |
| Profit (loss) for the period | 9904 | €69,723 | €55,648 | -€14,075 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €69,723 | €55,648 | -€14,075 | -20.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.