STRUBBE: 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.
STRUBBE
Largest movements
- Cash -€29,959
down €29,959 (-55.2%), from €54,276 to €24,317
mainly Net result for the year (-€22,510) and Receivables within one year (-€7,723)
- Receivables within one year +€7,723
up €7,723 (+103%), from €7,509 to €15,232
of which Trade receivables: +€11,199
- Profit (loss) carried forward -€22,510
down €22,510 (-26,929%), from -€84 to -€22,593
- Gross operating margin -€43,305
down €43,305 (-93.4%), from €46,354 to €3,049
- Staff costs -€6,228
down €6,228 (-21.9%), from €28,400 to €22,172
- Other operating charges +€1,687
up €1,687 (+116%), from €1,451 to €3,139
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 | €64,274 | €41,711 | -€22,563 | -35.1% |
| Fixed assets | 21/28 | €1,172 | €950 | -€222 | -18.9% |
| Tangible fixed assets | 22/27 | €749 | €527 | -€222 | -29.7% |
| Land and buildings | 22 | €733 | €527 | -€206 | -28.1% |
| Furniture and vehicles | 24 | €16 | - | -€16 | |
| Financial fixed assets | 28 | €423 | €423 | = | 0.0% |
| Current assets | 29/58 | €63,101 | €40,761 | -€22,341 | -35.4% |
| Amounts receivable within one year | 40/41 | €7,509 | €15,232 | +€7,723 | +103% |
| Trade receivables | 40 | €2,572 | €13,771 | +€11,199 | +435% |
| Other amounts receivable | 41 | €4,936 | €1,461 | -€3,476 | -70.4% |
| Cash at bank and in hand | 54/58 | €54,276 | €24,317 | -€29,959 | -55.2% |
| Deferred charges and accrued income | 490/1 | €1,317 | €1,212 | -€105 | -8.0% |
| Total equity and liabilities | 10/49 | €64,274 | €41,711 | -€22,563 | -35.1% |
| Equity | 10/15 | €60,276 | €37,767 | -€22,510 | -37.3% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Reserves | 13 | €40,860 | €40,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €38,910 | €38,910 | = | 0.0% |
| Other | 1319 | €38,910 | €38,910 | = | 0.0% |
| Distributable reserves | 133 | €1,950 | €1,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84 | -€22,593 | -€22,510 | -26,929% |
| Amounts payable | 17/49 | €3,998 | €3,945 | -€53 | -1.3% |
| Amounts payable within one year | 42/48 | €3,998 | €3,945 | -€53 | -1.3% |
| Trade debts | 44 | €2,134 | €2,297 | +€163 | +7.6% |
| Suppliers | 440/4 | €2,134 | €2,297 | +€163 | +7.6% |
| Taxes, remuneration and social security | 45 | €1,863 | €1,648 | -€216 | -11.6% |
| Taxes | 450/3 | - | €1,648 | +€1,648 | |
| Remuneration and social security | 454/9 | €1,863 | - | -€1,863 | |
| Non-recurring operating income | 76A | €46,504 | €1,500 | -€45,004 | -96.8% |
| Remuneration, social security and pensions | 62 | €28,400 | €22,172 | -€6,228 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €501 | €222 | -€279 | -55.7% |
| Other operating charges | 640/8 | €1,451 | €3,139 | +€1,687 | +116% |
| Gross operating margin | 9900 | €46,354 | €3,049 | -€43,305 | -93.4% |
| Operating profit (loss) | 9901 | €16,001 | -€22,483 | -€38,484 | |
| Financial income | 75/76B | €98 | €236 | +€137 | +139% |
| Recurring financial income | 75 | €98 | €236 | +€137 | +139% |
| Financial charges | 65/66B | €120 | €60 | -€60 | -49.9% |
| Recurring financial charges | 65 | €120 | €60 | -€60 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €15,980 | -€22,308 | -€38,287 | |
| Income taxes | 67/77 | €131 | €202 | +€71 | +54.6% |
| Profit (loss) for the period | 9904 | €15,849 | -€22,510 | -€38,359 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,849 | -€22,510 | -€38,359 |
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 25 October 2026 via checked.be.