STR.AF: 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.
STR.AF
Largest movements
- Tangible fixed assets +€561,893
up €561,893 (+1,993%), from €28,197 to €590,090
of which Land and buildings: +€575,995
- Receivables within one year -€151,576
down €151,576 (-89.5%), from €169,373 to €17,797
of which Trade receivables: -€152,315
- Cash +€99,040
up €99,040 (+686%), from €14,428 to €113,468
mainly Debts after one year (+€445,766) and Receivables within one year (+€151,576)
- Debts after one year +€445,766
new in 2025: €445,766
- Current portion of long-term debt +€121,483
up €121,483, from €0 to €121,483
- Other debts -€28,714
down €28,714 (-16.6%), from €173,174 to €144,460
- Profit (loss) carried forward -€24,308
down €24,308 (-94.5%), from €25,731 to €1,423
- Depreciation +€23,399
up €23,399 (+116%), from €20,120 to €43,519
- Financial charges +€14,668
up €14,668 (+555%), from €2,641 to €17,310
- Gross operating margin -€8,541
down €8,541 (-18.3%), from €46,639 to €38,098
- Taxes -€3,055
no longer reported in 2025 (was €3,055)
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 | €216,026 | €724,446 | +€508,420 | +235% |
| Fixed assets | 21/28 | €28,197 | €590,090 | +€561,893 | +1,993% |
| Tangible fixed assets | 22/27 | €28,197 | €590,090 | +€561,893 | +1,993% |
| Land and buildings | 22 | €4,333 | €580,328 | +€575,995 | +13,292% |
| Plant, machinery and equipment | 23 | €5,119 | €7,159 | +€2,039 | +39.8% |
| Furniture and vehicles | 24 | €18,744 | €2,603 | -€16,141 | -86.1% |
| Current assets | 29/58 | €187,829 | €134,356 | -€53,473 | -28.5% |
| Amounts receivable within one year | 40/41 | €169,373 | €17,797 | -€151,576 | -89.5% |
| Trade receivables | 40 | €165,013 | €12,698 | -€152,315 | -92.3% |
| Other amounts receivable | 41 | €4,360 | €5,099 | +€739 | +16.9% |
| Cash at bank and in hand | 54/58 | €14,428 | €113,468 | +€99,040 | +686% |
| Deferred charges and accrued income | 490/1 | €4,028 | €3,091 | -€937 | -23.3% |
| Total equity and liabilities | 10/49 | €216,026 | €724,446 | +€508,420 | +235% |
| Equity | 10/15 | €28,131 | €3,823 | -€24,308 | -86.4% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,731 | €1,423 | -€24,308 | -94.5% |
| Amounts payable | 17/49 | €187,895 | €720,623 | +€532,728 | +284% |
| Amounts payable after more than one year | 17 | - | €445,766 | +€445,766 | |
| Financial debts | 170/4 | - | €445,766 | +€445,766 | |
| Amounts payable within one year | 42/48 | €187,895 | €274,856 | +€86,961 | +46.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | €121,483 | +€121,483 | |
| Trade debts | 44 | €11,065 | €5,549 | -€5,517 | -49.9% |
| Suppliers | 440/4 | €11,065 | €5,549 | -€5,517 | -49.9% |
| Taxes, remuneration and social security | 45 | €3,655 | €3,365 | -€290 | -7.9% |
| Taxes | 450/3 | €3,655 | €3,365 | -€290 | -7.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €173,174 | €144,460 | -€28,714 | -16.6% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,120 | €43,519 | +€23,399 | +116% |
| Other operating charges | 640/8 | €900 | €955 | +€55 | +6.1% |
| Non-recurring operating charges | 66A | €106 | €643 | +€537 | +506% |
| Gross operating margin | 9900 | €46,639 | €38,098 | -€8,541 | -18.3% |
| Operating profit (loss) | 9901 | €25,513 | -€7,018 | -€32,531 | |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €2,641 | €17,310 | +€14,668 | +555% |
| Recurring financial charges | 65 | €2,641 | €17,310 | +€14,668 | +555% |
| Profit (loss) for the period before taxes | 9903 | €22,871 | -€24,308 | -€47,179 | |
| Income taxes | 67/77 | €3,055 | - | -€3,055 | |
| Profit (loss) for the period | 9904 | €19,816 | -€24,308 | -€44,124 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,816 | -€24,308 | -€44,124 |
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 19 October 2026 via checked.be.