STS D&V: what changed
What changed
STS D&V
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
-€466,642
2024 · -€1.9m+€1.4m
Equity
-€7.5m
2024 · -€7.1m-€466,642
Cash
€55,643
2024 · €129,545-€73,903
Balance sheet total
€263,283
2024 · €813,097-€549,814
Largest movements
Assets
- Receivables within one year -€433,415
down €433,415 (-77.5%), from €559,010 to €125,596
of which Trade receivables: -€315,880
- Cash -€73,903
down €73,903 (-57.0%), from €129,545 to €55,643
mainly Debts after one year (-€1.6m) and Trade debts (-€511,121)
- Intangible fixed assets -€43,536
down €43,536 (-39.5%), from €110,222 to €66,686
Equity and liabilities
- Other debts +€2.0m
up €2.0m (+35.4%), from €5.7m to €7.7m
- Debts after one year -€1.6m
down €1.6m (-100%), from €1.6m to €0
- Trade debts -€511,121
down €511,121 (-89.6%), from €570,253 to €59,132
- Profit (loss) carried forward -€466,642
down €466,642 (-6.5%), from -€7.1m to -€7.6m
- Accrued charges and deferred income -€18,464
down €18,464 (-89.8%), from €20,554 to €2,089
Income statement
- Gross operating margin +€1.4m
up €1.4m (+97.3%), from -€1.4m to -€39,158
- Staff costs -€158,200
down €158,200 (-56.2%), from €281,408 to €123,207
- Write-downs +€142,107
new in 2025: €142,107
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€1.9m
Gross operating margin
+€1.4m
Staff costs
+€158,200
Write-downs
-€142,107
Other operating charges
+€1,252
Other operating items
+€60,030
Financial income
-€11,782
Financial charges
-€13,834
Result 2025
-€466,642
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.5m
Investment
+€700
Financing
-€1.6m
Cash 2024
€129,545
From operations (derived)
+€1.5m
Net result for the year
-€466,642
Depreciation
+€43,536
Receivables within one year
+€433,415
Smaller working-capital items
-€3,470
Trade debts
-€511,121
Other debts
+€2.0m
Accrued charges and deferred income
-€18,464
Investment (derived)
+€700
Investment in fixed assets (net)
+€700
Financing
-€1.6m
Debts after one year
-€1.6m
Cash 2025
€55,643
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €813,097 | €263,283 | -€549,814 | -67.6% |
| Fixed assets | 21/28 | €122,222 | €77,986 | -€44,236 | -36.2% |
| Intangible fixed assets | 21 | €110,222 | €66,686 | -€43,536 | -39.5% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €12,000 | €11,300 | -€700 | -5.8% |
| Current assets | 29/58 | €690,875 | €185,297 | -€505,578 | -73.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €559,010 | €125,596 | -€433,415 | -77.5% |
| Trade receivables | 40 | €429,812 | €113,932 | -€315,880 | -73.5% |
| Other amounts receivable | 41 | €129,198 | €11,664 | -€117,534 | -91.0% |
| Cash at bank and in hand | 54/58 | €129,545 | €55,643 | -€73,903 | -57.0% |
| Deferred charges and accrued income | 490/1 | €2,319 | €4,058 | +€1,739 | +75.0% |
| Total equity and liabilities | 10/49 | €813,097 | €263,283 | -€549,814 | -67.6% |
| Equity | 10/15 | -€7,078,131 | -€7,544,773 | -€466,642 | -6.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,145,781 | -€7,612,423 | -€466,642 | -6.5% |
| Amounts payable | 17/49 | €7,891,228 | €7,808,056 | -€83,172 | -1.1% |
| Amounts payable after more than one year | 17 | €1,575,000 | €0 | -€1.6m | -100% |
| Financial debts | 170/4 | €1,575,000 | €0 | -€1.6m | -100% |
| Amounts payable within one year | 42/48 | €6,295,674 | €7,805,966 | +€1.5m | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €570,253 | €59,132 | -€511,121 | -89.6% |
| Suppliers | 440/4 | €570,253 | €59,132 | -€511,121 | -89.6% |
| Taxes, remuneration and social security | 45 | €16,218 | €14,487 | -€1,731 | -10.7% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €16,218 | €14,487 | -€1,731 | -10.7% |
| Other amounts payable | 47/48 | €5,709,203 | €7,732,348 | +€2.0m | +35.4% |
| Accrued charges and deferred income | 492/3 | €20,554 | €2,089 | -€18,464 | -89.8% |
| Non-recurring operating income | 76A | €16,560 | €0 | -€16,560 | -100% |
| Remuneration, social security and pensions | 62 | €281,408 | €123,207 | -€158,200 | -56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,536 | €43,536 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €142,107 | +€142,107 | |
| Other operating charges | 640/8 | €2,866 | €1,613 | -€1,252 | -43.7% |
| Non-recurring operating charges | 66A | €60,030 | €0 | -€60,030 | -100% |
| Gross operating margin | 9900 | -€1,434,755 | -€39,158 | +€1.4m | +97.3% |
| Operating profit (loss) | 9901 | -€1,822,594 | -€349,621 | +€1.5m | +80.8% |
| Financial income | 75/76B | €12,479 | €697 | -€11,782 | -94.4% |
| Recurring financial income | 75 | €12,479 | €697 | -€11,782 | -94.4% |
| Financial charges | 65/66B | €103,884 | €117,717 | +€13,834 | +13.3% |
| Recurring financial charges | 65 | €103,884 | €117,717 | +€13,834 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,913,999 | -€466,642 | +€1.4m | +75.6% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€1,913,999 | -€466,642 | +€1.4m | +75.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,913,999 | -€466,642 | +€1.4m | +75.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.