STP: 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.
STP
Largest movements
- Tangible fixed assets +€74,272
up €74,272 (+55.8%), from €133,156 to €207,429
of which Other tangible fixed assets: +€76,131
- Receivables within one year -€40,878
down €40,878 (-59.3%), from €68,927 to €28,049
of which Other amounts receivable: -€33,760
- Cash -€11,604
down €11,604 (-34.7%), from €33,476 to €21,871
mainly Investment in fixed assets (net) (-€96,073) and Trade debts (-€25,916)
- Reserves +€41,244
up €41,244 (+15.2%), from €271,788 to €313,032
of which Distributable reserves: +€41,244
- Trade debts -€25,916
down €25,916 (-79.7%), from €32,509 to €6,593
- Depreciation +€13,693
up €13,693 (+169%), from €8,107 to €21,801
- Gross operating margin +€5,305
up €5,305 (+6.5%), from €81,025 to €86,329
- Taxes -€2,707
down €2,707 (-12.3%), from €22,071 to €19,364
- Financial charges +€1,616
up €1,616 (+822%), from €197 to €1,813
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 | €316,420 | €336,891 | +€20,471 | +6.5% |
| Fixed assets | 21/28 | €133,156 | €207,429 | +€74,272 | +55.8% |
| Tangible fixed assets | 22/27 | €133,156 | €207,429 | +€74,272 | +55.8% |
| Plant, machinery and equipment | 23 | €2,408 | €2,876 | +€468 | +19.4% |
| Furniture and vehicles | 24 | €14,002 | €11,675 | -€2,327 | -16.6% |
| Other tangible fixed assets | 26 | €116,747 | €192,878 | +€76,131 | +65.2% |
| Current assets | 29/58 | €183,264 | €129,463 | -€53,801 | -29.4% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Trade receivables | 290 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €68,927 | €28,049 | -€40,878 | -59.3% |
| Trade receivables | 40 | €32,460 | €25,341 | -€7,118 | -21.9% |
| Other amounts receivable | 41 | €36,467 | €2,707 | -€33,760 | -92.6% |
| Cash at bank and in hand | 54/58 | €33,476 | €21,871 | -€11,604 | -34.7% |
| Deferred charges and accrued income | 490/1 | €5,861 | €4,543 | -€1,319 | -22.5% |
| Total equity and liabilities | 10/49 | €316,420 | €336,891 | +€20,471 | +6.5% |
| Equity | 10/15 | €277,988 | €319,232 | +€41,244 | +14.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €271,788 | €313,032 | +€41,244 | +15.2% |
| Tax-exempt reserves | 132 | €42,700 | €42,700 | = | 0.0% |
| Distributable reserves | 133 | €229,088 | €270,332 | +€41,244 | +18.0% |
| Amounts payable | 17/49 | €38,433 | €17,660 | -€20,773 | -54.0% |
| Amounts payable within one year | 42/48 | €38,045 | €15,646 | -€22,399 | -58.9% |
| Trade debts | 44 | €32,509 | €6,593 | -€25,916 | -79.7% |
| Suppliers | 440/4 | €32,509 | €6,593 | -€25,916 | -79.7% |
| Taxes, remuneration and social security | 45 | €5,536 | €5,790 | +€254 | +4.6% |
| Taxes | 450/3 | €5,536 | €5,790 | +€254 | +4.6% |
| Other amounts payable | 47/48 | - | €3,263 | +€3,263 | |
| Accrued charges and deferred income | 492/3 | €387 | €2,014 | +€1,627 | +420% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,107 | €21,801 | +€13,693 | +169% |
| Other operating charges | 640/8 | €2,575 | €2,258 | -€317 | -12.3% |
| Gross operating margin | 9900 | €81,025 | €86,329 | +€5,305 | +6.5% |
| Operating profit (loss) | 9901 | €70,343 | €62,271 | -€8,071 | -11.5% |
| Financial income | 75/76B | €0 | €149 | +€149 | +148,820% |
| Recurring financial income | 75 | €0 | €149 | +€149 | +148,820% |
| Financial charges | 65/66B | €197 | €1,813 | +€1,616 | +822% |
| Recurring financial charges | 65 | €197 | €1,813 | +€1,616 | +822% |
| Profit (loss) for the period before taxes | 9903 | €70,146 | €60,608 | -€9,538 | -13.6% |
| Income taxes | 67/77 | €22,071 | €19,364 | -€2,707 | -12.3% |
| Profit (loss) for the period | 9904 | €48,075 | €41,244 | -€6,831 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,075 | €41,244 | -€6,831 | -14.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.