STOQUART: 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.
STOQUART
Largest movements
- Financial fixed assets +€180,000
up €180,000 (+14.8%), from €1.2m to €1.4m
- Cash -€49,445
down €49,445 (-95.5%), from €51,783 to €2,338
mainly Investment in fixed assets (net) (-€228,243) and Net result for the year (-€123,787)
- Receivables within one year -€48,219
down €48,219 (-10.8%), from €448,338 to €400,119
of which Trade receivables: -€52,230
- Tangible fixed assets +€23,395
up €23,395 (+192.2%), from €12,170 to €35,565
of which Other tangible fixed assets: +€31,804
- Profit (loss) carried forward -€123,787
down €123,787 (-53.3%), from €232,379 to €108,591
- Short-term financial debts +€95,210
up €95,210 (+86.3%), from €110,384 to €205,594
- Debts after one year +€68,838
up €68,838 (+11.4%), from €603,084 to €671,922
of which Other amounts payable: +€50,000
- Current portion of long-term debt +€39,511
up €39,511 (+32.1%), from €122,899 to €162,411
- Accrued charges and deferred income +€18,961
up €18,961 (+62.8%), from €30,210 to €49,171
- Gross operating margin -€155,535
down €155,535 (-14.0%), from €1.1m to €958,578
- Staff costs -€80,533
down €80,533 (-7.5%), from €1.1m to €993,005
- Write-downs -€49,938
down €49,938 (-72.4%), from €69,019 to €19,081
- Depreciation -€18,664
down €18,664 (-41.6%), from €44,882 to €26,218
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 | €1,777,739 | €1,868,298 | +€90,560 | +5.1% |
| Fixed assets | 21/28 | €1,262,238 | €1,464,263 | +€202,025 | +16.0% |
| Intangible fixed assets | 21 | €37,775 | €36,405 | -€1,370 | -3.6% |
| Tangible fixed assets | 22/27 | €12,170 | €35,565 | +€23,395 | +192.2% |
| Plant, machinery and equipment | 23 | €1,945 | €2,163 | +€219 | +11.2% |
| Furniture and vehicles | 24 | €10,226 | €1,598 | -€8,628 | -84.4% |
| Other tangible fixed assets | 26 | - | €31,804 | +€31,804 | |
| Financial fixed assets | 28 | €1,212,292 | €1,392,292 | +€180,000 | +14.8% |
| Current assets | 29/58 | €515,501 | €404,036 | -€111,465 | -21.6% |
| Amounts receivable within one year | 40/41 | €448,338 | €400,119 | -€48,219 | -10.8% |
| Trade receivables | 40 | €359,165 | €306,935 | -€52,230 | -14.5% |
| Other amounts receivable | 41 | €89,173 | €93,184 | +€4,011 | +4.5% |
| Cash at bank and in hand | 54/58 | €51,783 | €2,338 | -€49,445 | -95.5% |
| Deferred charges and accrued income | 490/1 | €15,380 | €1,579 | -€13,802 | -89.7% |
| Total equity and liabilities | 10/49 | €1,777,739 | €1,868,298 | +€90,560 | +5.1% |
| Equity | 10/15 | €483,240 | €359,453 | -€123,787 | -25.6% |
| Contributions | 10/11 | €85,662 | €85,662 | = | 0.0% |
| Capital | 10 | €85,662 | €85,662 | = | 0.0% |
| Issued capital | 100 | €85,662 | €85,662 | = | 0.0% |
| Reserves | 13 | €165,199 | €165,199 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,699 | €25,699 | = | 0.0% |
| Legal reserve | 130 | €8,566 | €8,566 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,132 | €17,132 | = | 0.0% |
| Distributable reserves | 133 | €139,500 | €139,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232,379 | €108,591 | -€123,787 | -53.3% |
| Amounts payable | 17/49 | €1,294,499 | €1,508,846 | +€214,347 | +16.6% |
| Amounts payable after more than one year | 17 | €603,084 | €671,922 | +€68,838 | +11.4% |
| Financial debts | 170/4 | €538,084 | €556,922 | +€18,838 | +3.5% |
| Other amounts payable | 178/9 | €65,000 | €115,000 | +€50,000 | +76.9% |
| Amounts payable within one year | 42/48 | €661,204 | €787,752 | +€126,548 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €122,899 | €162,411 | +€39,511 | +32.1% |
| Financial debts | 43 | €110,384 | €205,594 | +€95,210 | +86.3% |
| Credit institutions | 430/8 | €110,384 | €205,594 | +€95,210 | +86.3% |
| Trade debts | 44 | €293,291 | €281,272 | -€12,019 | -4.1% |
| Suppliers | 440/4 | €293,291 | €281,272 | -€12,019 | -4.1% |
| Taxes, remuneration and social security | 45 | €106,303 | €109,618 | +€3,315 | +3.1% |
| Taxes | 450/3 | €1,526 | €1,675 | +€149 | +9.8% |
| Remuneration and social security | 454/9 | €104,777 | €107,942 | +€3,165 | +3.0% |
| Other amounts payable | 47/48 | €28,327 | €28,858 | +€530 | +1.9% |
| Accrued charges and deferred income | 492/3 | €30,210 | €49,171 | +€18,961 | +62.8% |
| Remuneration, social security and pensions | 62 | €1,073,538 | €993,005 | -€80,533 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,882 | €26,218 | -€18,664 | -41.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €69,019 | €19,081 | -€49,938 | -72.4% |
| Other operating charges | 640/8 | €1,927 | €3,193 | +€1,265 | +65.7% |
| Gross operating margin | 9900 | €1,114,113 | €958,578 | -€155,535 | -14.0% |
| Operating profit (loss) | 9901 | -€75,253 | -€82,919 | -€7,665 | -10.2% |
| Financial income | 75/76B | €17,255 | €13,257 | -€3,998 | -23.2% |
| Recurring financial income | 75 | €17,255 | €13,257 | -€3,998 | -23.2% |
| Financial charges | 65/66B | €57,500 | €53,736 | -€3,765 | -6.5% |
| Recurring financial charges | 65 | €57,500 | €53,736 | -€3,765 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | -€115,499 | -€123,397 | -€7,898 | -6.8% |
| Income taxes | 67/77 | €468 | €390 | -€78 | -16.7% |
| Profit (loss) for the period | 9904 | -€115,967 | -€123,787 | -€7,820 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€115,967 | -€123,787 | -€7,820 | -6.7% |
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 10 October 2026 via checked.be.