Stow: 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
Stow
NACE 25.110, Manufacture of metal structures and parts of structures
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.7m
2024 · €1.3m+€457,063
Equity
€6.5m
2024 · €6.4m+€45,682
Cash
€2.1m
2024 · €158,081+€1.9m
Balance sheet total
€27.5m
2024 · €21.7m+€5.9m
Largest movements
Assets
- Receivables within one year +€2.0m
up €2.0m (+11.9%), from €17.2m to €19.2m
of which Trade receivables: +€4.2m
- Cash +€1.9m
up €1.9m (+1,218%), from €158,081 to €2.1m
mainly Trade debts (+€3.2m) and Other debts (+€2.6m)
- Stocks and contracts +€1.9m
up €1.9m (+44.1%), from €4.3m to €6.2m
Equity and liabilities
- Trade debts +€3.2m
up €3.2m (+56.5%), from €5.6m to €8.8m
- Other debts +€2.6m
up €2.6m (+246%), from €1.0m to €3.6m
- Advances received -€373,458
down €373,458 (-5.0%), from €7.5m to €7.1m
- Tax, wage and social debts +€367,082
up €367,082 (+33.2%), from €1.1m to €1.5m
of which Taxes: +€382,299
Income statement
- Goods and materials +€7.9m
up €7.9m (+9.4%), from €83.8m to €91.7m
of which Purchases: +€7.1m
- Turnover +€2.0m
up €2.0m (+2.0%), from €99.9m to €102.0m
- Financial income -€1.9m
down €1.9m (-92.5%), from €2.0m to €154,165
- Services and other goods +€1.5m
up €1.5m (+32.6%), from €4.5m to €6.0m
- Financial charges -€1.1m
down €1.1m (-66.4%), from €1.6m to €543,781
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
€1.3m
Turnover
+€2.0m
Other operating income
+€14,105
Goods and materials
-€7.9m
Services and other goods
-€1.5m
Staff costs
-€18,426
Depreciation
+€798
Write-downs
+€643,342
Provisions
+€80
Other operating charges
+€10,994
Other operating items
+€8.1m
Financial income
-€1.9m
Financial charges
+€1.1m
Taxes
-€151,190
Result 2025
€1.7m
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
+€3.6m
Investment
+€1,877
Financing
-€1.7m
Cash 2024
€158,081
From operations (derived)
+€3.6m
Net result for the year
+€1.7m
Depreciation
+€1,670
Stocks and contracts
-€1.9m
Receivables within one year
-€2.0m
Deferred charges and accrued income
+€11,877
Provisions
-€53
Trade debts
+€3.2m
Tax, wage and social debts
+€367,082
Advances received
-€373,458
Other debts
+€2.6m
Accrued charges and deferred income
+€63,605
Investment (derived)
+€1,877
Investment in fixed assets (net)
+€1,877
Financing
-€1.7m
Short-term financial debts
+€19,566
Contributions, distributions and other
-€1.7m
Cash 2025
€2.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,670,697 | €27,526,346 | +€5.9m | +27.0% |
| Fixed assets | 21/28 | €3,547 | €0 | -€3,547 | -100% |
| Tangible fixed assets | 22/27 | €1,670 | €0 | -€1,670 | -100% |
| Furniture and vehicles | 24 | €1,670 | €0 | -€1,670 | -100% |
| Financial fixed assets | 28 | €1,877 | €0 | -€1,877 | -100% |
| Other financial fixed assets | 284/8 | €1,877 | €0 | -€1,877 | -100% |
| Amounts receivable and cash guarantees | 285/8 | €1,877 | €0 | -€1,877 | -100% |
| Current assets | 29/58 | €21,667,150 | €27,526,346 | +€5.9m | +27.0% |
| Stocks and contracts in progress | 3 | €4,312,475 | €6,216,176 | +€1.9m | +44.1% |
| Contracts in progress | 37 | €4,312,475 | €6,216,176 | +€1.9m | +44.1% |
| Amounts receivable within one year | 40/41 | €17,184,466 | €19,226,383 | +€2.0m | +11.9% |
| Trade receivables | 40 | €12,964,088 | €17,136,849 | +€4.2m | +32.2% |
| Other amounts receivable | 41 | €4,220,378 | €2,089,534 | -€2.1m | -50.5% |
| Cash at bank and in hand | 54/58 | €158,081 | €2,083,534 | +€1.9m | +1,218% |
| Deferred charges and accrued income | 490/1 | €12,128 | €252 | -€11,877 | -97.9% |
| Total equity and liabilities | 10/49 | €21,670,697 | €27,526,346 | +€5.9m | +27.0% |
| Equity | 10/15 | €6,435,402 | €6,481,084 | +€45,682 | +0.7% |
| Contributions | 10/11 | €4,604,666 | €4,604,666 | = | 0.0% |
| Capital | 10 | €4,604,666 | €4,604,666 | = | 0.0% |
| Issued capital | 100 | €4,604,666 | €4,604,666 | = | 0.0% |
| Reserves | 13 | €460,467 | €460,467 | = | 0.0% |
| Non-distributable reserves | 130/1 | €460,467 | €460,467 | = | 0.0% |
| Legal reserve | 130 | €460,467 | €460,467 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,370,269 | €1,415,952 | +€45,682 | +3.3% |
| Provisions and deferred taxes | 16 | €53 | - | -€53 | |
| Provisions for liabilities and charges | 160/5 | €53 | - | -€53 | |
| Pensions and similar obligations | 160 | €53 | - | -€53 | |
| Amounts payable | 17/49 | €15,235,242 | €21,045,262 | +€5.8m | +38.1% |
| Amounts payable within one year | 42/48 | €15,225,036 | €20,971,450 | +€5.7m | +37.7% |
| Financial debts | 43 | €10,500 | €30,066 | +€19,566 | +186% |
| Credit institutions | 430/8 | €10,500 | €30,066 | +€19,566 | +186% |
| Trade debts | 44 | €5,619,642 | €8,794,101 | +€3.2m | +56.5% |
| Suppliers | 440/4 | €5,619,642 | €8,794,101 | +€3.2m | +56.5% |
| Advances received on contracts in progress | 46 | €7,451,030 | €7,077,571 | -€373,458 | -5.0% |
| Taxes, remuneration and social security | 45 | €1,105,058 | €1,472,140 | +€367,082 | +33.2% |
| Taxes | 450/3 | €1,047,737 | €1,430,036 | +€382,299 | +36.5% |
| Remuneration and social security | 454/9 | €57,321 | €42,104 | -€15,217 | -26.5% |
| Other amounts payable | 47/48 | €1,038,807 | €3,597,572 | +€2.6m | +246% |
| Accrued charges and deferred income | 492/3 | €10,207 | €73,811 | +€63,605 | +623% |
| Operating income | 70/76A | €90,444,181 | €100,600,668 | +€10.2m | +11.2% |
| Turnover | 70 | €99,929,166 | €101,968,989 | +€2.0m | +2.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€9,711,555 | -€1,382,425 | +€8.3m | +85.8% |
| Other operating income | 74 | - | €14,105 | +€14,105 | |
| Non-recurring operating income | 76A | €226,570 | - | -€226,570 | |
| Operating charges | 60/66A | €89,087,265 | €97,822,999 | +€8.7m | +9.8% |
| Goods for resale, raw materials and consumables | 60 | €83,825,587 | €91,719,196 | +€7.9m | +9.4% |
| Purchases | 600/8 | €84,662,228 | €91,719,196 | +€7.1m | +8.3% |
| Change in stocks: decrease (increase) | 609 | -€836,641 | - | +€836,641 | |
| Services and other goods | 61 | €4,531,584 | €6,010,497 | +€1.5m | +32.6% |
| Remuneration, social security and pensions | 62 | €385,526 | €403,951 | +€18,426 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,469 | €1,670 | -€798 | -32.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €314,875 | -€328,467 | -€643,342 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €27 | -€53 | -€80 | |
| Other operating charges | 640/8 | €27,198 | €16,205 | -€10,994 | -40.4% |
| Operating profit (loss) | 9901 | €1,356,916 | €2,777,669 | +€1.4m | +105% |
| Financial income | 75/76B | €2,043,119 | €154,165 | -€1.9m | -92.5% |
| Recurring financial income | 75 | €2,043,119 | €154,165 | -€1.9m | -92.5% |
| Income from financial fixed assets | 750 | €688,800 | - | -€688,800 | |
| Income from current assets | 751 | €4,999 | €96,240 | +€91,241 | +1,825% |
| Other financial income | 752/9 | €1,349,319 | €57,925 | -€1.3m | -95.7% |
| Financial charges | 65/66B | €1,620,235 | €543,781 | -€1.1m | -66.4% |
| Recurring financial charges | 65 | €1,620,235 | €543,781 | -€1.1m | -66.4% |
| Debt charges | 650 | €958,028 | €97,879 | -€860,149 | -89.8% |
| Other financial charges | 652/9 | €662,206 | €445,901 | -€216,305 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €1,779,800 | €2,388,053 | +€608,253 | +34.2% |
| Income taxes | 67/77 | €491,181 | €642,371 | +€151,190 | +30.8% |
| Taxes | 670/3 | €491,181 | €642,371 | +€151,190 | +30.8% |
| Profit (loss) for the period | 9904 | €1,288,619 | €1,745,682 | +€457,063 | +35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,288,619 | €1,745,682 | +€457,063 | +35.5% |
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 16 October 2026 via checked.be.