STOCK ATH: 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.
What changed
STOCK ATH
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€76,923
2024 · €2.5m-€2.4m
Equity
€36.2m
2024 · €36.1m+€76,923
Cash
€3.2m
2024 · €5.5m-€2.3m
Balance sheet total
€42.6m
2024 · €38.3m+€4.3m
Largest movements
Assets
- Tangible fixed assets +€9.0m
up €9.0m (+80.9%), from €11.2m to €20.2m
of which Land and buildings: +€8.3m
- Current investments -€5.5m
down €5.5m (-57.2%), from €9.6m to €4.1m
- Cash -€2.3m
down €2.3m (-41.3%), from €5.5m to €3.2m
mainly Investment in fixed assets (net) (-€10.9m) and Stocks and contracts (-€1.7m)
- Stocks and contracts +€1.7m
up €1.7m (+16.6%), from €10.3m to €12.0m
- Receivables within one year +€1.3m
up €1.3m (+143%), from €930,396 to €2.3m
of which Trade receivables: +€1.0m
Equity and liabilities
- Other debts +€4.0m
up €4.0m (+4,159%), from €97,282 to €4.1m
Income statement
- Turnover +€2.7m
up €2.7m (+6.7%), from €40.0m to €42.7m
- Goods and materials +€1.7m
up €1.7m (+6.2%), from €27.2m to €28.9m
of which Purchases: +€3.1m
- Services and other goods +€925,918
up €925,918 (+17.7%), from €5.2m to €6.2m
- Staff costs +€780,424
up €780,424 (+19.1%), from €4.1m to €4.9m
- Depreciation +€690,251
up €690,251 (+58.2%), from €1.2m to €1.9m
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.
Result 2024
€2.5m
Turnover
+€2.7m
Other operating income
+€543,228
Goods and materials
-€1.7m
Services and other goods
-€925,918
Staff costs
-€780,424
Depreciation
-€690,251
Write-downs
-€56,325
Other operating charges
-€25,604
Other operating items
-€1.2m
Financial income
-€115,674
Financial charges
-€470,885
Taxes
+€334,733
Result 2025
€76,923
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.1m
Investment
-€5.4m
Financing
€0
Cash 2024
€5.5m
From operations (derived)
+€3.1m
Net result for the year
+€76,923
Depreciation
+€1.9m
Stocks and contracts
-€1.7m
Receivables within one year
-€1.3m
Deferred charges and accrued income
-€61,012
Trade debts
+€191,525
Smaller working-capital items
+€34,834
Other debts
+€4.0m
Investment (derived)
-€5.4m
Investment in fixed assets (net)
-€10.9m
Current investments
+€5.5m
Cash 2025
€3.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €38,286,141 | €42,635,845 | +€4.3m | +11.4% |
| Fixed assets | 21/28 | €11,665,034 | €20,690,105 | +€9.0m | +77.4% |
| Intangible fixed assets | 21 | €7,592 | €2,088 | -€5,504 | -72.5% |
| Tangible fixed assets | 22/27 | €11,156,588 | €20,187,162 | +€9.0m | +80.9% |
| Land and buildings | 22 | €8,764,990 | €17,109,002 | +€8.3m | +95.2% |
| Plant, machinery and equipment | 23 | €1,828,016 | €2,322,696 | +€494,680 | +27.1% |
| Furniture and vehicles | 24 | €563,583 | €755,464 | +€191,882 | +34.0% |
| Financial fixed assets | 28 | €500,855 | €500,855 | = | 0.0% |
| Affiliated companies | 280/1 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable | 281 | €500,000 | €500,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €855 | €855 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €855 | €855 | = | 0.0% |
| Current assets | 29/58 | €26,621,108 | €21,945,740 | -€4.7m | -17.6% |
| Stocks and contracts in progress | 3 | €10,309,483 | €12,016,312 | +€1.7m | +16.6% |
| Stocks | 30/36 | €10,309,483 | €12,016,312 | +€1.7m | +16.6% |
| Goods purchased for resale | 34 | €10,309,483 | €12,016,312 | +€1.7m | +16.6% |
| Amounts receivable within one year | 40/41 | €930,396 | €2,263,967 | +€1.3m | +143% |
| Trade receivables | 40 | €509,443 | €1,524,157 | +€1.0m | +199% |
| Other amounts receivable | 41 | €420,954 | €739,810 | +€318,856 | +75.7% |
| Current investments | 50/53 | €9,613,861 | €4,118,606 | -€5.5m | -57.2% |
| Other investments | 51/53 | €9,613,861 | €4,118,606 | -€5.5m | -57.2% |
| Cash at bank and in hand | 54/58 | €5,526,331 | €3,244,807 | -€2.3m | -41.3% |
| Deferred charges and accrued income | 490/1 | €241,037 | €302,049 | +€61,012 | +25.3% |
| Total equity and liabilities | 10/49 | €38,286,141 | €42,635,845 | +€4.3m | +11.4% |
| Equity | 10/15 | €36,145,110 | €36,222,033 | +€76,923 | +0.2% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €35,137,104 | €35,222,033 | +€84,928 | +0.2% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,314,104 | €1,789,250 | -€524,854 | -22.7% |
| Distributable reserves | 133 | €32,723,000 | €33,332,783 | +€609,783 | +1.9% |
| Profit (loss) carried forward | 14 | €8,006 | - | -€8,006 | |
| Amounts payable | 17/49 | €2,141,032 | €6,413,813 | +€4.3m | +200% |
| Amounts payable within one year | 42/48 | €2,116,763 | €6,389,813 | +€4.3m | +202% |
| Trade debts | 44 | €1,220,178 | €1,411,702 | +€191,525 | +15.7% |
| Suppliers | 440/4 | €1,220,178 | €1,411,702 | +€191,525 | +15.7% |
| Advances received on contracts in progress | 46 | - | €21,733 | +€21,733 | |
| Taxes, remuneration and social security | 45 | €799,304 | €812,673 | +€13,369 | +1.7% |
| Taxes | 450/3 | €175,683 | €223,788 | +€48,105 | +27.4% |
| Remuneration and social security | 454/9 | €623,622 | €588,885 | -€34,736 | -5.6% |
| Other amounts payable | 47/48 | €97,282 | €4,143,705 | +€4.0m | +4,159% |
| Accrued charges and deferred income | 492/3 | €24,268 | €24,000 | -€268 | -1.1% |
| Operating income | 70/76A | €40,218,497 | €43,388,904 | +€3.2m | +7.9% |
| Turnover | 70 | €39,996,273 | €42,682,085 | +€2.7m | +6.7% |
| Other operating income | 74 | €146,471 | €689,699 | +€543,228 | +371% |
| Non-recurring operating income | 76A | €75,753 | €17,120 | -€58,633 | -77.4% |
| Operating charges | 60/66A | €37,938,812 | €43,265,495 | +€5.3m | +14.0% |
| Goods for resale, raw materials and consumables | 60 | €27,242,040 | €28,930,386 | +€1.7m | +6.2% |
| Purchases | 600/8 | €27,511,384 | €30,637,216 | +€3.1m | +11.4% |
| Change in stocks: decrease (increase) | 609 | -€269,343 | -€1,706,830 | -€1.4m | -534% |
| Services and other goods | 61 | €5,229,355 | €6,155,273 | +€925,918 | +17.7% |
| Remuneration, social security and pensions | 62 | €4,078,088 | €4,858,512 | +€780,424 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,186,589 | €1,876,840 | +€690,251 | +58.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €56,325 | +€56,325 | |
| Other operating charges | 640/8 | €192,897 | €218,502 | +€25,604 | +13.3% |
| Non-recurring operating charges | 66A | €9,842 | €1,169,657 | +€1.2m | +11,784% |
| Operating profit (loss) | 9901 | €2,279,685 | €123,409 | -€2.2m | -94.6% |
| Financial income | 75/76B | €586,334 | €470,660 | -€115,674 | -19.7% |
| Recurring financial income | 75 | €586,334 | €470,660 | -€115,674 | -19.7% |
| Income from financial fixed assets | 750 | - | €46,524 | +€46,524 | |
| Income from current assets | 751 | €229,618 | - | -€229,618 | |
| Other financial income | 752/9 | €356,716 | €424,136 | +€67,420 | +18.9% |
| Financial charges | 65/66B | -€162,427 | €308,458 | +€470,885 | |
| Recurring financial charges | 65 | -€362,427 | €308,458 | +€670,885 | |
| Debt charges | 650 | €9,467 | €64,201 | +€54,734 | +578% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€430,530 | -€180,366 | +€250,164 | +58.1% |
| Other financial charges | 652/9 | €58,636 | €424,623 | +€365,987 | +624% |
| Non-recurring financial charges | 66B | €200,000 | - | -€200,000 | |
| Profit (loss) for the period before taxes | 9903 | €3,028,447 | €285,612 | -€2.7m | -90.6% |
| Income taxes | 67/77 | €543,422 | €208,689 | -€334,733 | -61.6% |
| Taxes | 670/3 | €543,422 | €208,689 | -€334,733 | -61.6% |
| Profit (loss) for the period | 9904 | €2,485,024 | €76,923 | -€2.4m | -96.9% |
| Transfer from tax-exempt reserves | 789 | €694,650 | €524,854 | -€169,796 | -24.4% |
| Transfer to tax-exempt reserves | 689 | €842,000 | - | -€842,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,337,674 | €601,777 | -€1.7m | -74.3% |
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 26 October 2026 via checked.be.