STUBAN: 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
STUBAN
NACE 41.001, General construction of residential buildings
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
-€97,487
2025 · -€3,543-€93,944
Equity
€6.7m
2025 · €6.8m-€97,487
Cash
€24,800
2025 · €4,664+€20,137
Balance sheet total
€6.8m
2025 · €6.9m-€101,846
Largest movements
Assets
- Receivables within one year -€114,610
down €114,610 (-3.7%), from €3.1m to €3.0m
of which Other amounts receivable: -€85,900
Equity and liabilities
- Profit (loss) carried forward -€97,487
down €97,487 (-285.8%), from -€34,106 to -€131,593
Income statement
- Gross operating margin -€145,483
down €145,483 (-42.3%), from €343,673 to €198,191
- Staff costs -€136,827
down €136,827 (-33.8%), from €405,243 to €268,417
- Financial income -€95,642
down €95,642 (-100.0%), from €95,645 to €4
- Depreciation -€8,519
down €8,519 (-37.0%), from €23,038 to €14,519
- Other operating charges -€3,546
down €3,546 (-42.6%), from €8,334 to €4,788
From the 2025 result to the 2026 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 2025
-€3,543
Gross operating margin
-€145,483
Staff costs
+€136,827
Depreciation
+€8,519
Other operating charges
+€3,546
Other operating items
-€2,323
Financial income
-€95,642
Financial charges
+€156
Taxes
+€455
Result 2026
-€97,487
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€24,911
Investment
-€4,775
Financing
€0
Cash 2025
€4,664
From operations (derived)
+€24,911
Net result for the year
-€97,487
Depreciation
+€14,519
Receivables within one year
+€114,610
Deferred charges and accrued income
-€2,372
Trade debts
+€16,362
Tax, wage and social debts
-€20,567
Smaller working-capital items
-€154
Investment (derived)
-€4,775
Investment in fixed assets (net)
-€4,775
Cash 2026
€24,800
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,894,908 | €6,793,061 | -€101,846 | -1.5% |
| Fixed assets | 21/28 | €3,748,930 | €3,739,186 | -€9,744 | -0.3% |
| Tangible fixed assets | 22/27 | €56,557 | €46,813 | -€9,744 | -17.2% |
| Plant, machinery and equipment | 23 | €3,400 | €2,055 | -€1,345 | -39.6% |
| Furniture and vehicles | 24 | €53,157 | €44,758 | -€8,399 | -15.8% |
| Financial fixed assets | 28 | €3,692,373 | €3,692,373 | = | 0.0% |
| Current assets | 29/58 | €3,145,978 | €3,053,876 | -€92,102 | -2.9% |
| Amounts receivable within one year | 40/41 | €3,125,771 | €3,011,161 | -€114,610 | -3.7% |
| Trade receivables | 40 | €122,962 | €94,252 | -€28,711 | -23.3% |
| Other amounts receivable | 41 | €3,002,809 | €2,916,909 | -€85,900 | -2.9% |
| Cash at bank and in hand | 54/58 | €4,664 | €24,800 | +€20,137 | +431.8% |
| Deferred charges and accrued income | 490/1 | €15,543 | €17,915 | +€2,372 | +15.3% |
| Total equity and liabilities | 10/49 | €6,894,908 | €6,793,061 | -€101,846 | -1.5% |
| Equity | 10/15 | €6,794,689 | €6,697,202 | -€97,487 | -1.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,766,795 | €6,766,795 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €595 | €595 | = | 0.0% |
| Distributable reserves | 133 | €6,760,000 | €6,760,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,106 | -€131,593 | -€97,487 | -285.8% |
| Amounts payable | 17/49 | €100,219 | €95,860 | -€4,359 | -4.3% |
| Amounts payable within one year | 42/48 | €100,192 | €95,860 | -€4,333 | -4.3% |
| Trade debts | 44 | €1,192 | €17,554 | +€16,362 | +1373.2% |
| Suppliers | 440/4 | €1,192 | €17,554 | +€16,362 | +1373.2% |
| Taxes, remuneration and social security | 45 | €60,185 | €39,618 | -€20,567 | -34.2% |
| Taxes | 450/3 | €24,982 | €13,216 | -€11,766 | -47.1% |
| Remuneration and social security | 454/9 | €35,204 | €26,403 | -€8,801 | -25.0% |
| Other amounts payable | 47/48 | €38,815 | €38,688 | -€128 | -0.3% |
| Accrued charges and deferred income | 492/3 | €27 | - | -€27 | |
| Non-recurring operating income | 76A | €3,324 | €1,721 | -€1,603 | -48.2% |
| Remuneration, social security and pensions | 62 | €405,243 | €268,417 | -€136,827 | -33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,038 | €14,519 | -€8,519 | -37.0% |
| Other operating charges | 640/8 | €8,334 | €4,788 | -€3,546 | -42.6% |
| Non-recurring operating charges | 66A | - | €2,323 | +€2,323 | |
| Gross operating margin | 9900 | €343,673 | €198,191 | -€145,483 | -42.3% |
| Operating profit (loss) | 9901 | -€92,942 | -€91,855 | +€1,087 | +1.2% |
| Financial income | 75/76B | €95,645 | €4 | -€95,642 | -100.0% |
| Recurring financial income | 75 | €95,645 | €4 | -€95,642 | -100.0% |
| Financial charges | 65/66B | €4,535 | €4,379 | -€156 | -3.4% |
| Recurring financial charges | 65 | €4,535 | €4,379 | -€156 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,832 | -€96,231 | -€94,399 | -5153.5% |
| Income taxes | 67/77 | €1,711 | €1,256 | -€455 | -26.6% |
| Profit (loss) for the period | 9904 | -€3,543 | -€97,487 | -€93,944 | -2651.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,543 | -€97,487 | -€93,944 | -2651.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.