STROUVEN: 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.
STROUVEN
Largest movements
- Stocks and contracts -€187,523
down €187,523 (-37.4%), from €501,186 to €313,664
of which Stocks: -€256,941
- Tangible fixed assets +€62,685
up €62,685 (+23.3%), from €268,468 to €331,153
of which Furniture and vehicles: +€53,625
- Receivables within one year -€57,856
down €57,856 (-21.2%), from €272,832 to €214,976
of which Trade receivables: -€66,101
- Cash -€56,755
down €56,755 (-81.1%), from €69,973 to €13,218
mainly Debts after one year (-€193,687) and Short-term financial debts (-€126,667)
- Debts after one year -€193,687
down €193,687 (-60.9%), from €318,249 to €124,562
- Short-term financial debts -€126,667
down €126,667 (-83.9%), from €151,000 to €24,333
- Trade debts +€56,361
up €56,361 (+18.4%), from €306,798 to €363,159
- Other debts +€32,911
up €32,911 (+53.0%), from €62,079 to €94,990
- Tax, wage and social debts -€12,270
down €12,270 (-41.3%), from €29,703 to €17,433
of which Taxes: -€13,393
- Gross operating margin -€48,931
down €48,931 (-14.3%), from €342,083 to €293,151
- Staff costs -€43,740
down €43,740 (-18.1%), from €242,045 to €198,304
- Write-downs +€11,214
new in 2025: €11,214
- Depreciation -€8,473
down €8,473 (-17.0%), from €49,878 to €41,404
- Taxes -€5,542
down €5,542 (-73.7%), from €7,519 to €1,977
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 | €1,133,586 | €900,705 | -€232,881 | -20.5% |
| Fixed assets | 21/28 | €268,478 | €331,163 | +€62,685 | +23.3% |
| Tangible fixed assets | 22/27 | €268,468 | €331,153 | +€62,685 | +23.3% |
| Land and buildings | 22 | €184,676 | €174,051 | -€10,626 | -5.8% |
| Plant, machinery and equipment | 23 | €48,458 | €68,210 | +€19,751 | +40.8% |
| Furniture and vehicles | 24 | €35,268 | €88,893 | +€53,625 | +152.1% |
| Other tangible fixed assets | 26 | €66 | - | -€66 | |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €865,109 | €569,542 | -€295,566 | -34.2% |
| Stocks and contracts in progress | 3 | €501,186 | €313,664 | -€187,523 | -37.4% |
| Stocks | 30/36 | €501,186 | €244,245 | -€256,941 | -51.3% |
| Contracts in progress | 37 | - | €69,419 | +€69,419 | |
| Amounts receivable within one year | 40/41 | €272,832 | €214,976 | -€57,856 | -21.2% |
| Trade receivables | 40 | €205,277 | €139,176 | -€66,101 | -32.2% |
| Other amounts receivable | 41 | €67,555 | €75,800 | +€8,245 | +12.2% |
| Cash at bank and in hand | 54/58 | €69,973 | €13,218 | -€56,755 | -81.1% |
| Deferred charges and accrued income | 490/1 | €21,117 | €27,684 | +€6,567 | +31.1% |
| Total equity and liabilities | 10/49 | €1,133,586 | €900,705 | -€232,881 | -20.5% |
| Equity | 10/15 | €231,139 | €232,797 | +€1,658 | +0.7% |
| Contributions | 10/11 | €22,500 | €22,500 | = | 0.0% |
| Reserves | 13 | €208,639 | €210,297 | +€1,658 | +0.8% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €200,639 | €202,297 | +€1,658 | +0.8% |
| Amounts payable | 17/49 | €902,447 | €667,908 | -€234,539 | -26.0% |
| Amounts payable after more than one year | 17 | €318,249 | €124,562 | -€193,687 | -60.9% |
| Financial debts | 170/4 | €318,249 | €124,562 | -€193,687 | -60.9% |
| Amounts payable within one year | 42/48 | €584,198 | €542,812 | -€41,386 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €34,618 | €42,897 | +€8,279 | +23.9% |
| Financial debts | 43 | €151,000 | €24,333 | -€126,667 | -83.9% |
| Credit institutions | 430/8 | €151,000 | €24,333 | -€126,667 | -83.9% |
| Trade debts | 44 | €306,798 | €363,159 | +€56,361 | +18.4% |
| Suppliers | 440/4 | €306,798 | €363,159 | +€56,361 | +18.4% |
| Taxes, remuneration and social security | 45 | €29,703 | €17,433 | -€12,270 | -41.3% |
| Taxes | 450/3 | €15,078 | €1,685 | -€13,393 | -88.8% |
| Remuneration and social security | 454/9 | €14,625 | €15,748 | +€1,122 | +7.7% |
| Other amounts payable | 47/48 | €62,079 | €94,990 | +€32,911 | +53.0% |
| Accrued charges and deferred income | 492/3 | - | €535 | +€535 | |
| Remuneration, social security and pensions | 62 | €242,045 | €198,304 | -€43,740 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,878 | €41,404 | -€8,473 | -17.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,214 | +€11,214 | |
| Other operating charges | 640/8 | €10,294 | €15,240 | +€4,946 | +48.0% |
| Gross operating margin | 9900 | €342,083 | €293,151 | -€48,931 | -14.3% |
| Operating profit (loss) | 9901 | €39,866 | €26,989 | -€12,877 | -32.3% |
| Financial income | 75/76B | €2,939 | €2,939 | -€1 | 0.0% |
| Recurring financial income | 75 | €2,887 | €2,939 | +€52 | +1.8% |
| Non-recurring financial income | 76B | €52 | - | -€52 | |
| Financial charges | 65/66B | €21,419 | €26,293 | +€4,874 | +22.8% |
| Recurring financial charges | 65 | €21,419 | €26,293 | +€4,874 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €21,387 | €3,635 | -€17,752 | -83.0% |
| Income taxes | 67/77 | €7,519 | €1,977 | -€5,542 | -73.7% |
| Profit (loss) for the period | 9904 | €13,868 | €1,658 | -€12,210 | -88.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,868 | €1,658 | -€12,210 | -88.0% |
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 30 September 2026 via checked.be.