STRAT & MA: what changed
Two fiscal 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.
STRAT & MA
Largest movements
- Cash +€224,019
up €224,019 (+544.2%), from €41,165 to €265,185
mainly Net result for the year (+€263,467) and Tax, wage and social debts (+€37,123)
- Receivables within one year +€44,536
up €44,536 (+36.4%), from €122,353 to €166,889
- Tangible fixed assets +€29,300
up €29,300 (+1191.7%), from €2,459 to €31,758
of which Furniture and vehicles: +€29,552
- Reserves +€262,634
up €262,634 (+182.8%), from €143,684 to €406,318
- Tax, wage and social debts +€37,123
up €37,123 (+172.3%), from €21,543 to €58,666
of which Taxes: +€36,866
- Gross operating margin +€203,374
up €203,374 (+107.1%), from €189,952 to €393,326
- Taxes +€75,767
up €75,767 (+180.1%), from €42,065 to €117,833
- Financial charges +€4,566
up €4,566 (+483.8%), from €944 to €5,510
- Depreciation +€3,963
up €3,963 (+165.1%), from €2,400 to €6,362
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 | €169,359 | €468,396 | +€299,036 | +176.6% |
| Fixed assets | 21/28 | €2,459 | €31,758 | +€29,300 | +1191.7% |
| Tangible fixed assets | 22/27 | €2,459 | €31,758 | +€29,300 | +1191.7% |
| Furniture and vehicles | 24 | - | €29,552 | +€29,552 | |
| Other tangible fixed assets | 26 | €2,459 | €2,206 | -€253 | -10.3% |
| Current assets | 29/58 | €166,901 | €436,637 | +€269,736 | +161.6% |
| Amounts receivable within one year | 40/41 | €122,353 | €166,889 | +€44,536 | +36.4% |
| Trade receivables | 40 | €122,353 | €166,889 | +€44,536 | +36.4% |
| Cash at bank and in hand | 54/58 | €41,165 | €265,185 | +€224,019 | +544.2% |
| Deferred charges and accrued income | 490/1 | €3,383 | €4,563 | +€1,181 | +34.9% |
| Total equity and liabilities | 10/49 | €169,359 | €468,396 | +€299,036 | +176.6% |
| Equity | 10/15 | €145,684 | €408,318 | +€262,634 | +180.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €143,684 | €406,318 | +€262,634 | +182.8% |
| Distributable reserves | 133 | €143,684 | €406,318 | +€262,634 | +182.8% |
| Amounts payable | 17/49 | €23,676 | €60,078 | +€36,402 | +153.8% |
| Amounts payable within one year | 42/48 | €23,676 | €60,078 | +€36,402 | +153.8% |
| Trade debts | 44 | €681 | - | -€681 | |
| Suppliers | 440/4 | €681 | - | -€681 | |
| Taxes, remuneration and social security | 45 | €21,543 | €58,666 | +€37,123 | +172.3% |
| Taxes | 450/3 | €19,525 | €56,391 | +€36,866 | +188.8% |
| Remuneration and social security | 454/9 | €2,018 | €2,275 | +€257 | +12.7% |
| Other amounts payable | 47/48 | €1,452 | €1,412 | -€40 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,400 | €6,362 | +€3,963 | +165.1% |
| Other operating charges | 640/8 | - | €154 | +€154 | |
| Gross operating margin | 9900 | €189,952 | €393,326 | +€203,374 | +107.1% |
| Operating profit (loss) | 9901 | €187,552 | €386,809 | +€199,257 | +106.2% |
| Financial charges | 65/66B | €944 | €5,510 | +€4,566 | +483.8% |
| Recurring financial charges | 65 | €944 | €5,510 | +€4,566 | +483.8% |
| Profit (loss) for the period before taxes | 9903 | €186,608 | €381,299 | +€194,691 | +104.3% |
| Income taxes | 67/77 | €42,065 | €117,833 | +€75,767 | +180.1% |
| Profit (loss) for the period | 9904 | €144,543 | €263,467 | +€118,924 | +82.3% |
| Profit (loss) for the period to be appropriated | 9905 | €144,543 | €263,467 | +€118,924 | +82.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.