STRATES: 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.
STRATES
Largest movements
- Receivables within one year +€34,346
up €34,346 (+67.2%), from €51,140 to €85,486
of which Other amounts receivable: +€39,504
- Tangible fixed assets -€16,181
down €16,181 (-11.7%), from €138,873 to €122,692
- Cash -€4,021
down €4,021 (-92.1%), from €4,364 to €344
mainly Receivables within one year (-€34,346) and Debts after one year (-€19,500)
- Provisions +€21,118
new in 2025: €21,118
- Debts after one year -€19,500
down €19,500 (-18.2%), from €106,897 to €87,398
- Profit (loss) carried forward +€5,404
up €5,404 (+81.1%), from -€6,664 to -€1,260
- Trade debts +€3,620
up €3,620 (+30.1%), from €12,028 to €15,648
- Tax, wage and social debts +€3,226
up €3,226 (+54.1%), from €5,967 to €9,193
of which Taxes: +€3,226
- Gross operating margin +€34,601
up €34,601 (+131.1%), from €26,396 to €60,997
- Provisions +€21,118
new in 2025: €21,118
- Other operating charges +€4,401
up €4,401 (+184.6%), from €2,384 to €6,785
- Taxes +€3,127
up €3,127 (+42147.3%), from €7 to €3,135
- Financial income +€1,947
up €1,947 (+73.5%), from €2,647 to €4,594
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 | €194,812 | €208,523 | +€13,711 | +7.0% |
| Fixed assets | 21/28 | €138,873 | €122,692 | -€16,181 | -11.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €138,873 | €122,692 | -€16,181 | -11.7% |
| Land and buildings | 22 | €110,574 | €103,844 | -€6,731 | -6.1% |
| Plant, machinery and equipment | 23 | €22,081 | €18,849 | -€3,232 | -14.6% |
| Furniture and vehicles | 24 | €6,218 | €0 | -€6,218 | -100.0% |
| Current assets | 29/58 | €55,939 | €85,830 | +€29,892 | +53.4% |
| Amounts receivable within one year | 40/41 | €51,140 | €85,486 | +€34,346 | +67.2% |
| Trade receivables | 40 | €15,118 | €9,961 | -€5,158 | -34.1% |
| Other amounts receivable | 41 | €36,022 | €75,526 | +€39,504 | +109.7% |
| Cash at bank and in hand | 54/58 | €4,364 | €344 | -€4,021 | -92.1% |
| Deferred charges and accrued income | 490/1 | €434 | - | -€434 | |
| Total equity and liabilities | 10/49 | €194,812 | €208,523 | +€13,711 | +7.0% |
| Equity | 10/15 | €21,176 | €25,666 | +€4,489 | +21.2% |
| Contributions | 10/11 | €11,826 | €11,826 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,664 | -€1,260 | +€5,404 | +81.1% |
| Investment grants | 15 | €16,014 | €15,100 | -€914 | -5.7% |
| Provisions and deferred taxes | 16 | - | €21,118 | +€21,118 | |
| Provisions for liabilities and charges | 160/5 | - | €21,118 | +€21,118 | |
| Other liabilities and charges | 164/5 | - | €21,118 | +€21,118 | |
| Amounts payable | 17/49 | €173,635 | €161,739 | -€11,897 | -6.9% |
| Amounts payable after more than one year | 17 | €106,897 | €87,398 | -€19,500 | -18.2% |
| Financial debts | 170/4 | €106,897 | €87,398 | -€19,500 | -18.2% |
| Amounts payable within one year | 42/48 | €66,738 | €74,341 | +€7,603 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €18,301 | €19,500 | +€1,198 | +6.5% |
| Financial debts | 43 | €30,000 | €30,000 | +€0 | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | +€0 | 0.0% |
| Trade debts | 44 | €12,028 | €15,648 | +€3,620 | +30.1% |
| Suppliers | 440/4 | €12,028 | €15,648 | +€3,620 | +30.1% |
| Advances received on contracts in progress | 46 | €442 | - | -€442 | |
| Taxes, remuneration and social security | 45 | €5,967 | €9,193 | +€3,226 | +54.1% |
| Taxes | 450/3 | €4,414 | €7,640 | +€3,226 | +73.1% |
| Remuneration and social security | 454/9 | €1,553 | €1,553 | = | 0.0% |
| Non-recurring operating income | 76A | €27,321 | - | -€27,321 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,936 | €16,181 | -€755 | -4.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €21,118 | +€21,118 | |
| Other operating charges | 640/8 | €2,384 | €6,785 | +€4,401 | +184.6% |
| Non-recurring operating charges | 66A | - | €500 | +€500 | |
| Gross operating margin | 9900 | €26,396 | €60,997 | +€34,601 | +131.1% |
| Operating profit (loss) | 9901 | €7,076 | €16,413 | +€9,337 | +132.0% |
| Financial income | 75/76B | €2,647 | €4,594 | +€1,947 | +73.5% |
| Recurring financial income | 75 | €2,647 | €4,594 | +€1,947 | +73.5% |
| Financial charges | 65/66B | €11,413 | €12,468 | +€1,055 | +9.2% |
| Recurring financial charges | 65 | €11,413 | €12,468 | +€1,055 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,690 | €8,539 | +€10,228 | |
| Income taxes | 67/77 | €7 | €3,135 | +€3,127 | +42147.3% |
| Profit (loss) for the period | 9904 | -€1,697 | €5,404 | +€7,101 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,697 | €5,404 | +€7,101 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.