STU D'JO: 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.
STU D'JO
Largest movements
- Receivables within one year +€9,179
up €9,179 (+185%), from €4,949 to €14,128
of which Other amounts receivable: +€8,598
- Current investments +€9,172
up €9,172 (+6.3%), from €145,277 to €154,449
- Tangible fixed assets -€5,342
down €5,342 (-11.8%), from €45,339 to €39,996
of which Land and buildings: -€9,814
- Stocks and contracts +€2,516
up €2,516 (+28.4%), from €8,852 to €11,368
- Reserves +€22,093
up €22,093 (+13.7%), from €161,134 to €183,227
of which Distributable reserves: +€22,093
- Debts after one year -€10,623
down €10,623 (-38.8%), from €27,370 to €16,747
- Tax, wage and social debts +€6,288
up €6,288 (+53.5%), from €11,749 to €18,037
of which Taxes: +€7,716
- Trade debts -€3,259
no longer reported in 2025 (was €3,259)
- Staff costs +€23,916
up €23,916 (+23.7%), from €100,715 to €124,631
- Gross operating margin +€22,822
up €22,822 (+14.6%), from €156,416 to €179,238
- Financial charges +€1,836
up €1,836 (+186%), from €988 to €2,823
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 | €215,070 | €229,982 | +€14,912 | +6.9% |
| Fixed assets | 21/28 | €45,639 | €40,296 | -€5,342 | -11.7% |
| Tangible fixed assets | 22/27 | €45,339 | €39,996 | -€5,342 | -11.8% |
| Land and buildings | 22 | €39,258 | €29,444 | -€9,814 | -25.0% |
| Plant, machinery and equipment | 23 | €6,063 | €10,553 | +€4,490 | +74.1% |
| Furniture and vehicles | 24 | €18 | €0 | -€18 | -100% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €169,431 | €189,685 | +€20,254 | +12.0% |
| Stocks and contracts in progress | 3 | €8,852 | €11,368 | +€2,516 | +28.4% |
| Stocks | 30/36 | €8,852 | €11,368 | +€2,516 | +28.4% |
| Amounts receivable within one year | 40/41 | €4,949 | €14,128 | +€9,179 | +185% |
| Trade receivables | 40 | €4,949 | €5,530 | +€581 | +11.7% |
| Other amounts receivable | 41 | - | €8,598 | +€8,598 | |
| Current investments | 50/53 | €145,277 | €154,449 | +€9,172 | +6.3% |
| Cash at bank and in hand | 54/58 | €10,354 | €9,740 | -€613 | -5.9% |
| Total equity and liabilities | 10/49 | €215,070 | €229,982 | +€14,912 | +6.9% |
| Equity | 10/15 | €164,187 | €186,280 | +€22,093 | +13.5% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €161,134 | €183,227 | +€22,093 | +13.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €159,275 | €181,368 | +€22,093 | +13.9% |
| Profit (loss) carried forward | 14 | -€3,144 | -€3,144 | = | 0.0% |
| Amounts payable | 17/49 | €50,883 | €43,701 | -€7,181 | -14.1% |
| Amounts payable after more than one year | 17 | €27,370 | €16,747 | -€10,623 | -38.8% |
| Financial debts | 170/4 | €27,370 | €16,747 | -€10,623 | -38.8% |
| Amounts payable within one year | 42/48 | €23,512 | €26,955 | +€3,442 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €8,504 | €8,917 | +€413 | +4.9% |
| Trade debts | 44 | €3,259 | - | -€3,259 | |
| Suppliers | 440/4 | €3,259 | - | -€3,259 | |
| Taxes, remuneration and social security | 45 | €11,749 | €18,037 | +€6,288 | +53.5% |
| Taxes | 450/3 | €1,871 | €9,587 | +€7,716 | +412% |
| Remuneration and social security | 454/9 | €9,878 | €8,450 | -€1,428 | -14.5% |
| Remuneration, social security and pensions | 62 | €100,715 | €124,631 | +€23,916 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,938 | €11,619 | +€681 | +6.2% |
| Other operating charges | 640/8 | €2,376 | €1,952 | -€424 | -17.8% |
| Gross operating margin | 9900 | €156,416 | €179,238 | +€22,822 | +14.6% |
| Operating profit (loss) | 9901 | €42,388 | €41,037 | -€1,351 | -3.2% |
| Financial income | 75/76B | €331 | €665 | +€334 | +101% |
| Recurring financial income | 75 | €331 | €665 | +€334 | +101% |
| Financial charges | 65/66B | €988 | €2,823 | +€1,836 | +186% |
| Recurring financial charges | 65 | €988 | €2,823 | +€1,836 | +186% |
| Profit (loss) for the period before taxes | 9903 | €41,731 | €38,879 | -€2,852 | -6.8% |
| Income taxes | 67/77 | €13,112 | €12,285 | -€826 | -6.3% |
| Profit (loss) for the period | 9904 | €28,619 | €26,593 | -€2,026 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,619 | €26,593 | -€2,026 | -7.1% |
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 29 October 2026 via checked.be.