STRUVAY: 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.
What changed
STRUVAY
NACE 47.540, Retail sale of electrical household appliances
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€30,725
2024 · -€37,834+€68,559
Equity
€225,249
2024 · €194,524+€30,725
Cash
€15,449
2024 · €13,873+€1,576
Balance sheet total
€490,609
2024 · €510,984-€20,375
Largest movements
Assets
- Tangible fixed assets -€13,580
down €13,580 (-11.2%), from €121,386 to €107,805
- Receivables within one year -€11,675
down €11,675 (-6.8%), from €171,077 to €159,402
of which Trade receivables: -€40,792
Equity and liabilities
- Profit (loss) carried forward +€30,725
up €30,725 (+81.2%), from -€37,824 to -€7,099
- Short-term financial debts -€20,000
no longer reported in 2025 (was €20,000)
- Trade debts -€16,827
down €16,827 (-10.6%), from €159,261 to €142,434
- Debts after one year -€15,302
down €15,302 (-17.9%), from €85,282 to €69,980
Income statement
- Staff costs -€54,536
down €54,536 (-25.5%), from €213,988 to €159,452
- Gross operating margin +€20,150
up €20,150 (+9.1%), from €220,795 to €240,945
- Financial income +€6,606
up €6,606 (+146.4%), from €4,512 to €11,118
- Write-downs +€3,762
up €3,762 (+3148.6%), from €119 to €3,881
- Depreciation +€3,499
up €3,499 (+11.0%), from €31,866 to €35,364
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.
Result 2024
-€37,834
Gross operating margin
+€20,150
Staff costs
+€54,536
Depreciation
-€3,499
Write-downs
-€3,762
Other operating charges
-€568
Other operating items
-€3,500
Financial income
+€6,606
Financial charges
-€1,181
Taxes
-€224
Result 2025
€30,725
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.
From operations
+€51,484
Investment
-€19,181
Financing
-€30,728
Cash 2024
€13,873
From operations (derived)
+€51,484
Net result for the year
+€30,725
Depreciation
+€35,364
Stocks and contracts
-€3,564
Receivables within one year
+€11,675
Deferred charges and accrued income
-€2,344
Trade debts
-€16,827
Tax, wage and social debts
-€4,752
Advances received
+€279
Other debts
+€929
Investment (derived)
-€19,181
Investment in fixed assets (net)
-€19,181
Financing
-€30,728
Debts after one year
-€15,302
Current portion of long-term debt
+€4,574
Short-term financial debts
-€20,000
Cash 2025
€15,449
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €510,984 | €490,609 | -€20,375 | -4.0% |
| Fixed assets | 21/28 | €126,588 | €110,404 | -€16,184 | -12.8% |
| Intangible fixed assets | 21 | €3,777 | €549 | -€3,228 | -85.5% |
| Tangible fixed assets | 22/27 | €121,386 | €107,805 | -€13,580 | -11.2% |
| Land and buildings | 22 | €55,597 | €49,401 | -€6,196 | -11.1% |
| Plant, machinery and equipment | 23 | €15,729 | €10,506 | -€5,222 | -33.2% |
| Furniture and vehicles | 24 | €50,060 | €47,898 | -€2,163 | -4.3% |
| Financial fixed assets | 28 | €1,425 | €2,050 | +€625 | +43.9% |
| Current assets | 29/58 | €384,396 | €380,205 | -€4,191 | -1.1% |
| Stocks and contracts in progress | 3 | €194,759 | €198,323 | +€3,564 | +1.8% |
| Stocks | 30/36 | €194,759 | €198,323 | +€3,564 | +1.8% |
| Amounts receivable within one year | 40/41 | €171,077 | €159,402 | -€11,675 | -6.8% |
| Trade receivables | 40 | €163,240 | €122,448 | -€40,792 | -25.0% |
| Other amounts receivable | 41 | €7,838 | €36,954 | +€29,117 | +371.5% |
| Cash at bank and in hand | 54/58 | €13,873 | €15,449 | +€1,576 | +11.4% |
| Deferred charges and accrued income | 490/1 | €4,687 | €7,031 | +€2,344 | +50.0% |
| Total equity and liabilities | 10/49 | €510,984 | €490,609 | -€20,375 | -4.0% |
| Equity | 10/15 | €194,524 | €225,249 | +€30,725 | +15.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €232,248 | €232,248 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,033 | €2,033 | = | 0.0% |
| Distributable reserves | 133 | €230,215 | €230,215 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,824 | -€7,099 | +€30,725 | +81.2% |
| Amounts payable | 17/49 | €316,460 | €265,360 | -€51,100 | -16.1% |
| Amounts payable after more than one year | 17 | €85,282 | €69,980 | -€15,302 | -17.9% |
| Financial debts | 170/4 | €85,282 | €69,980 | -€15,302 | -17.9% |
| Amounts payable within one year | 42/48 | €231,177 | €195,380 | -€35,798 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €26,092 | €30,667 | +€4,574 | +17.5% |
| Financial debts | 43 | €20,000 | - | -€20,000 | |
| Credit institutions | 430/8 | €20,000 | - | -€20,000 | |
| Trade debts | 44 | €159,261 | €142,434 | -€16,827 | -10.6% |
| Suppliers | 440/4 | €159,261 | €142,434 | -€16,827 | -10.6% |
| Advances received on contracts in progress | 46 | €2,392 | €2,670 | +€279 | +11.7% |
| Taxes, remuneration and social security | 45 | €19,340 | €14,587 | -€4,752 | -24.6% |
| Taxes | 450/3 | €321 | €539 | +€218 | +68.1% |
| Remuneration and social security | 454/9 | €19,019 | €14,048 | -€4,971 | -26.1% |
| Other amounts payable | 47/48 | €4,092 | €5,021 | +€929 | +22.7% |
| Non-recurring operating income | 76A | €661 | - | -€661 | |
| Remuneration, social security and pensions | 62 | €213,988 | €159,452 | -€54,536 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,866 | €35,364 | +€3,499 | +11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €119 | €3,881 | +€3,762 | +3148.6% |
| Other operating charges | 640/8 | €5,309 | €5,877 | +€568 | +10.7% |
| Non-recurring operating charges | 66A | - | €3,500 | +€3,500 | |
| Gross operating margin | 9900 | €220,795 | €240,945 | +€20,150 | +9.1% |
| Operating profit (loss) | 9901 | -€30,487 | €32,871 | +€63,358 | |
| Financial income | 75/76B | €4,512 | €11,118 | +€6,606 | +146.4% |
| Recurring financial income | 75 | €4,512 | €11,118 | +€6,606 | +146.4% |
| Financial charges | 65/66B | €11,537 | €12,718 | +€1,181 | +10.2% |
| Recurring financial charges | 65 | €11,537 | €12,718 | +€1,181 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | -€37,512 | €31,271 | +€68,783 | |
| Income taxes | 67/77 | €323 | €546 | +€224 | +69.3% |
| Profit (loss) for the period | 9904 | -€37,834 | €30,725 | +€68,559 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,834 | €30,725 | +€68,559 |
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 29 September 2026 via checked.be.