STRUX: 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.
STRUX
Largest movements
- Stocks and contracts -€3.1m
down €3.1m (-75.0%), from €4.1m to €1.0m
of which Contracts in progress: -€3.1m
- Tangible fixed assets +€535,191
up €535,191 (+196.8%), from €271,928 to €807,120
of which Land and buildings: +€536,888
- Receivables within one year +€518,060
up €518,060 (+368.9%), from €140,448 to €658,507
of which Trade receivables: +€521,823
- Short-term financial debts -€2.3m
down €2.3m (-91.9%), from €2.5m to €200,384
- Trade debts -€363,574
down €363,574 (-77.9%), from €466,622 to €103,049
- Other debts +€212,272
up €212,272 (+21.0%), from €1.0m to €1.2m
- Tax, wage and social debts +€170,388
up €170,388 (+195.6%), from €87,110 to €257,498
of which Taxes: +€169,498
- Profit (loss) carried forward +€135,743
up €135,743 (+99.2%), from -€136,809 to -€1,066
- Financial charges -€54,258
down €54,258 (-25.1%), from €216,472 to €162,214
- Gross operating margin +€46,299
up €46,299 (+12.2%), from €380,482 to €426,781
- Taxes +€22,374
up €22,374 (+2931.8%), from €763 to €23,138
- Financial income -€11,262
down €11,262 (-79.8%), from €14,106 to €2,844
- Staff costs +€9,206
up €9,206 (+11.9%), from €77,082 to €86,288
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 | €4,615,712 | €2,552,771 | -€2.1m | -44.7% |
| Fixed assets | 21/28 | €271,928 | €807,120 | +€535,191 | +196.8% |
| Tangible fixed assets | 22/27 | €271,928 | €807,120 | +€535,191 | +196.8% |
| Land and buildings | 22 | €262,879 | €799,767 | +€536,888 | +204.2% |
| Plant, machinery and equipment | 23 | €853 | €1,730 | +€877 | +102.7% |
| Furniture and vehicles | 24 | €7,363 | €5,190 | -€2,173 | -29.5% |
| Other tangible fixed assets | 26 | €833 | €433 | -€400 | -48.0% |
| Current assets | 29/58 | €4,343,784 | €1,745,651 | -€2.6m | -59.8% |
| Stocks and contracts in progress | 3 | €4,144,158 | €1,037,770 | -€3.1m | -75.0% |
| Stocks | 30/36 | - | €3,840 | +€3,840 | |
| Contracts in progress | 37 | €4,144,158 | €1,033,930 | -€3.1m | -75.1% |
| Amounts receivable within one year | 40/41 | €140,448 | €658,507 | +€518,060 | +368.9% |
| Trade receivables | 40 | €7,003 | €528,826 | +€521,823 | +7451.4% |
| Other amounts receivable | 41 | €133,445 | €129,682 | -€3,763 | -2.8% |
| Cash at bank and in hand | 54/58 | €29,289 | €42,588 | +€13,298 | +45.4% |
| Deferred charges and accrued income | 490/1 | €29,888 | €6,787 | -€23,102 | -77.3% |
| Total equity and liabilities | 10/49 | €4,615,712 | €2,552,771 | -€2.1m | -44.7% |
| Equity | 10/15 | €144,331 | €324,078 | +€179,747 | +124.5% |
| Contributions | 10/11 | €120,460 | €120,460 | = | 0.0% |
| Reserves | 13 | €160,680 | €204,684 | +€44,004 | +27.4% |
| Distributable reserves | 133 | €160,680 | €204,684 | +€44,004 | +27.4% |
| Profit (loss) carried forward | 14 | -€136,809 | -€1,066 | +€135,743 | +99.2% |
| Amounts payable | 17/49 | €4,471,381 | €2,228,693 | -€2.2m | -50.2% |
| Amounts payable after more than one year | 17 | €367,625 | €346,897 | -€20,729 | -5.6% |
| Financial debts | 170/4 | €367,625 | €346,897 | -€20,729 | -5.6% |
| Amounts payable within one year | 42/48 | €4,049,023 | €1,805,312 | -€2.2m | -55.4% |
| Current portion of amounts payable after more than one year | 42 | €22,054 | €20,729 | -€1,326 | -6.0% |
| Financial debts | 43 | €2,461,855 | €200,384 | -€2.3m | -91.9% |
| Credit institutions | 430/8 | €2,461,855 | €200,384 | -€2.3m | -91.9% |
| Trade debts | 44 | €466,622 | €103,049 | -€363,574 | -77.9% |
| Suppliers | 440/4 | €466,622 | €103,049 | -€363,574 | -77.9% |
| Taxes, remuneration and social security | 45 | €87,110 | €257,498 | +€170,388 | +195.6% |
| Taxes | 450/3 | €76,446 | €245,944 | +€169,498 | +221.7% |
| Remuneration and social security | 454/9 | €10,664 | €11,554 | +€890 | +8.3% |
| Other amounts payable | 47/48 | €1,011,381 | €1,223,653 | +€212,272 | +21.0% |
| Accrued charges and deferred income | 492/3 | €54,733 | €76,485 | +€21,752 | +39.7% |
| Remuneration, social security and pensions | 62 | €77,082 | €86,288 | +€9,206 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,146 | €13,271 | +€125 | +1.0% |
| Other operating charges | 640/8 | €10,388 | €8,970 | -€1,418 | -13.6% |
| Gross operating margin | 9900 | €380,482 | €426,781 | +€46,299 | +12.2% |
| Operating profit (loss) | 9901 | €279,866 | €318,251 | +€38,385 | +13.7% |
| Financial income | 75/76B | €14,106 | €2,844 | -€11,262 | -79.8% |
| Recurring financial income | 75 | €14,106 | €2,844 | -€11,262 | -79.8% |
| Financial charges | 65/66B | €216,472 | €162,214 | -€54,258 | -25.1% |
| Recurring financial charges | 65 | €216,472 | €162,214 | -€54,258 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €77,500 | €158,881 | +€81,380 | +105.0% |
| Income taxes | 67/77 | €763 | €23,138 | +€22,374 | +2931.8% |
| Profit (loss) for the period | 9904 | €76,737 | €135,743 | +€59,006 | +76.9% |
| Profit (loss) for the period to be appropriated | 9905 | €76,737 | €135,743 | +€59,006 | +76.9% |
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 7 October 2026 via checked.be.