STSK9: 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.
STSK9
Largest movements
- Current investments -€1.4m
down €1.4m (-50.1%), from €2.8m to €1.4m
- Cash -€815,885
down €815,885 (-89.6%), from €910,879 to €94,994
mainly Contributions, distributions and other (-€2.9m) and Receivables within one year (-€348,760)
- Receivables within one year +€348,760
up €348,760 (+157%), from €222,636 to €571,396
of which Trade receivables: +€351,146
- Reserves -€1.6m
down €1.6m (-48.6%), from €3.3m to €1.7m
- Tax, wage and social debts -€296,274
down €296,274 (-42.1%), from €703,705 to €407,431
of which Taxes: -€300,048
- Gross operating margin +€147,486
up €147,486 (+9.2%), from €1.6m to €1.8m
- Financial charges +€91,759
up €91,759 (+290%), from €31,614 to €123,373
- Financial income -€25,856
down €25,856 (-16.5%), from €157,144 to €131,287
of which Financial income: -€68,280
- Staff costs +€20,744
new in 2025: €20,744
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 | €4,151,356 | €2,219,513 | -€1.9m | -46.5% |
| Fixed assets | 21/28 | €152,879 | €112,840 | -€40,039 | -26.2% |
| Tangible fixed assets | 22/27 | €152,874 | €112,835 | -€40,039 | -26.2% |
| Plant, machinery and equipment | 23 | €18,688 | €11,887 | -€6,801 | -36.4% |
| Furniture and vehicles | 24 | €114,517 | €81,439 | -€33,078 | -28.9% |
| Other tangible fixed assets | 26 | €19,669 | €19,510 | -€160 | -0.8% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €3,998,477 | €2,106,673 | -€1.9m | -47.3% |
| Amounts receivable within one year | 40/41 | €222,636 | €571,396 | +€348,760 | +157% |
| Trade receivables | 40 | €211,179 | €562,325 | +€351,146 | +166% |
| Other amounts receivable | 41 | €11,457 | €9,070 | -€2,386 | -20.8% |
| Current investments | 50/53 | €2,825,006 | €1,408,891 | -€1.4m | -50.1% |
| Cash at bank and in hand | 54/58 | €910,879 | €94,994 | -€815,885 | -89.6% |
| Deferred charges and accrued income | 490/1 | €39,957 | €31,392 | -€8,565 | -21.4% |
| Total equity and liabilities | 10/49 | €4,151,356 | €2,219,513 | -€1.9m | -46.5% |
| Equity | 10/15 | €3,348,897 | €1,726,317 | -€1.6m | -48.5% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €3,341,397 | €1,718,817 | -€1.6m | -48.6% |
| Distributable reserves | 133 | €3,341,397 | €1,718,817 | -€1.6m | -48.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €802,459 | €493,196 | -€309,263 | -38.5% |
| Amounts payable after more than one year | 17 | €55,869 | €33,879 | -€21,989 | -39.4% |
| Financial debts | 170/4 | €55,869 | €33,879 | -€21,989 | -39.4% |
| Amounts payable within one year | 42/48 | €746,591 | €459,317 | -€287,274 | -38.5% |
| Current portion of amounts payable after more than one year | 42 | €29,799 | €21,989 | -€7,810 | -26.2% |
| Financial debts | 43 | €27 | €550 | +€523 | +1,942% |
| Credit institutions | 430/8 | €27 | €550 | +€523 | +1,942% |
| Trade debts | 44 | €13,060 | €25,155 | +€12,095 | +92.6% |
| Suppliers | 440/4 | €13,060 | €25,155 | +€12,095 | +92.6% |
| Advances received on contracts in progress | 46 | €0 | €4,192 | +€4,192 | |
| Taxes, remuneration and social security | 45 | €703,705 | €407,431 | -€296,274 | -42.1% |
| Taxes | 450/3 | €703,705 | €403,656 | -€300,048 | -42.6% |
| Remuneration and social security | 454/9 | €0 | €3,775 | +€3,775 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €20,744 | +€20,744 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,348 | €50,157 | -€2,191 | -4.2% |
| Other operating charges | 640/8 | €14,711 | €10,007 | -€4,704 | -32.0% |
| Gross operating margin | 9900 | €1,610,537 | €1,758,023 | +€147,486 | +9.2% |
| Operating profit (loss) | 9901 | €1,543,478 | €1,677,114 | +€133,636 | +8.7% |
| Financial income | 75/76B | €157,144 | €131,287 | -€25,856 | -16.5% |
| Recurring financial income | 75 | €157,144 | €88,863 | -€68,280 | -43.5% |
| Non-recurring financial income | 76B | - | €42,424 | +€42,424 | |
| Financial charges | 65/66B | €31,614 | €123,373 | +€91,759 | +290% |
| Recurring financial charges | 65 | €31,614 | €123,373 | +€91,759 | +290% |
| Profit (loss) for the period before taxes | 9903 | €1,669,008 | €1,685,029 | +€16,021 | +1.0% |
| Income taxes | 67/77 | €415,979 | €428,950 | +€12,971 | +3.1% |
| Profit (loss) for the period | 9904 | €1,253,029 | €1,256,079 | +€3,050 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,253,029 | €1,256,079 | +€3,050 | +0.2% |
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 14 October 2026 via checked.be.