Stratefina: 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.
Stratefina
Largest movements
- Receivables within one year -€46,704
down €46,704 (-34.7%), from €134,732 to €88,028
of which Other amounts receivable: -€35,416
- Cash -€17,651
down €17,651 (-46.1%), from €38,282 to €20,631
mainly Contributions, distributions and other (-€77,839) and Short-term financial debts (-€65,866)
- Short-term financial debts -€65,866
down €65,866 (-32.2%), from €204,429 to €138,563
- Tax, wage and social debts -€25,009
down €25,009 (-48.5%), from €51,581 to €26,572
- Reserves +€24,041
up €24,041 (+8.7%), from €277,670 to €301,711
- Gross operating margin -€56,160
down €56,160 (-26.3%), from €213,162 to €157,002
- Taxes -€14,094
down €14,094 (-27.8%), from €50,679 to €36,585
- Financial income -€2,275
no longer reported in 2025 (was €2,275)
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 | €556,396 | €494,301 | -€62,095 | -11.2% |
| Fixed assets | 21/28 | €382,783 | €381,397 | -€1,386 | -0.4% |
| Tangible fixed assets | 22/27 | €7,783 | €6,397 | -€1,386 | -17.8% |
| Plant, machinery and equipment | 23 | €80 | €3,089 | +€3,009 | +3754.7% |
| Furniture and vehicles | 24 | €7,703 | €3,309 | -€4,395 | -57.0% |
| Financial fixed assets | 28 | €375,000 | €375,000 | = | 0.0% |
| Current assets | 29/58 | €173,613 | €112,904 | -€60,709 | -35.0% |
| Amounts receivable within one year | 40/41 | €134,732 | €88,028 | -€46,704 | -34.7% |
| Trade receivables | 40 | €68,569 | €57,281 | -€11,288 | -16.5% |
| Other amounts receivable | 41 | €66,163 | €30,747 | -€35,416 | -53.5% |
| Cash at bank and in hand | 54/58 | €38,282 | €20,631 | -€17,651 | -46.1% |
| Deferred charges and accrued income | 490/1 | €600 | €4,245 | +€3,645 | +607.9% |
| Total equity and liabilities | 10/49 | €556,396 | €494,301 | -€62,095 | -11.2% |
| Equity | 10/15 | €297,670 | €321,711 | +€24,041 | +8.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €277,670 | €301,711 | +€24,041 | +8.7% |
| Distributable reserves | 133 | €277,670 | €301,711 | +€24,041 | +8.7% |
| Amounts payable | 17/49 | €258,727 | €172,590 | -€86,136 | -33.3% |
| Amounts payable within one year | 42/48 | €258,727 | €170,755 | -€87,972 | -34.0% |
| Financial debts | 43 | €204,429 | €138,563 | -€65,866 | -32.2% |
| Credit institutions | 430/8 | €204,429 | €138,563 | -€65,866 | -32.2% |
| Trade debts | 44 | €2,717 | €5,621 | +€2,903 | +106.8% |
| Suppliers | 440/4 | €2,717 | €5,621 | +€2,903 | +106.8% |
| Taxes, remuneration and social security | 45 | €51,581 | €26,572 | -€25,009 | -48.5% |
| Taxes | 450/3 | €51,581 | €26,572 | -€25,009 | -48.5% |
| Accrued charges and deferred income | 492/3 | - | €1,835 | +€1,835 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,024 | €4,633 | +€609 | +15.1% |
| Other operating charges | 640/8 | €2,209 | €120 | -€2,089 | -94.6% |
| Gross operating margin | 9900 | €213,162 | €157,002 | -€56,160 | -26.3% |
| Operating profit (loss) | 9901 | €206,928 | €152,249 | -€54,679 | -26.4% |
| Financial income | 75/76B | €2,275 | - | -€2,275 | |
| Recurring financial income | 75 | €2,275 | - | -€2,275 | |
| Financial charges | 65/66B | €15,886 | €13,785 | -€2,101 | -13.2% |
| Recurring financial charges | 65 | €15,886 | €13,785 | -€2,101 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €193,318 | €138,465 | -€54,853 | -28.4% |
| Income taxes | 67/77 | €50,679 | €36,585 | -€14,094 | -27.8% |
| Profit (loss) for the period | 9904 | €142,639 | €101,880 | -€40,759 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €142,639 | €101,880 | -€40,759 | -28.6% |
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 9 October 2026 via checked.be.