STUBBE: 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.
STUBBE
Largest movements
- Stocks and contracts -€13,345
down €13,345 (-12.8%), from €104,369 to €91,024
- Tangible fixed assets -€11,348
down €11,348 (-5.0%), from €227,041 to €215,693
of which Land and buildings: -€7,034
- Receivables within one year -€8,654
down €8,654 (-10.6%), from €81,301 to €72,647
of which Other amounts receivable: -€6,906
- Trade debts -€19,799
down €19,799 (-51.4%), from €38,483 to €18,684
- Debts after one year -€10,929
down €10,929 (-16.3%), from €66,916 to €55,987
- Reserves +€6,900
up €6,900 (+2.8%), from €250,025 to €256,925
of which Distributable reserves: +€6,900
- Short-term financial debts -€6,144
down €6,144 (-29.2%), from €21,071 to €14,927
- Gross operating margin +€8,675
up €8,675 (+26.1%), from €33,213 to €41,888
- Write-downs +€3,404
up €3,404, from -€384 to €3,020
- Depreciation +€2,659
up €2,659 (+30.6%), from €8,689 to €11,348
- Taxes +€2,160
up €2,160 (+84.7%), from €2,550 to €4,711
- Financial charges -€1,219
down €1,219 (-12.5%), from €9,741 to €8,522
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 | €414,758 | €381,264 | -€33,494 | -8.1% |
| Fixed assets | 21/28 | €227,071 | €215,723 | -€11,348 | -5.0% |
| Tangible fixed assets | 22/27 | €227,041 | €215,693 | -€11,348 | -5.0% |
| Land and buildings | 22 | €219,156 | €212,121 | -€7,034 | -3.2% |
| Plant, machinery and equipment | 23 | €454 | €121 | -€333 | -73.4% |
| Furniture and vehicles | 24 | €7,432 | €3,451 | -€3,981 | -53.6% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €187,686 | €165,541 | -€22,146 | -11.8% |
| Stocks and contracts in progress | 3 | €104,369 | €91,024 | -€13,345 | -12.8% |
| Stocks | 30/36 | €104,369 | €91,024 | -€13,345 | -12.8% |
| Amounts receivable within one year | 40/41 | €81,301 | €72,647 | -€8,654 | -10.6% |
| Trade receivables | 40 | €71,343 | €69,595 | -€1,748 | -2.5% |
| Other amounts receivable | 41 | €9,958 | €3,052 | -€6,906 | -69.4% |
| Cash at bank and in hand | 54/58 | €660 | €636 | -€24 | -3.6% |
| Deferred charges and accrued income | 490/1 | €1,357 | €1,235 | -€123 | -9.0% |
| Total equity and liabilities | 10/49 | €414,758 | €381,264 | -€33,494 | -8.1% |
| Equity | 10/15 | €269,302 | €276,893 | +€7,591 | +2.8% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €250,025 | €256,925 | +€6,900 | +2.8% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,316 | €13,316 | = | 0.0% |
| Distributable reserves | 133 | €234,834 | €241,734 | +€6,900 | +2.9% |
| Profit (loss) carried forward | 14 | €527 | €1,217 | +€691 | +131.1% |
| Amounts payable | 17/49 | €145,456 | €104,371 | -€41,085 | -28.2% |
| Amounts payable after more than one year | 17 | €66,916 | €55,987 | -€10,929 | -16.3% |
| Other amounts payable | 178/9 | €66,916 | €55,987 | -€10,929 | -16.3% |
| Amounts payable within one year | 42/48 | €73,710 | €44,055 | -€29,655 | -40.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €21,071 | €14,927 | -€6,144 | -29.2% |
| Credit institutions | 430/8 | €21,071 | €14,927 | -€6,144 | -29.2% |
| Trade debts | 44 | €38,483 | €18,684 | -€19,799 | -51.4% |
| Suppliers | 440/4 | €38,483 | €18,684 | -€19,799 | -51.4% |
| Advances received on contracts in progress | 46 | €1,656 | €0 | -€1,656 | -100.0% |
| Taxes, remuneration and social security | 45 | €12,501 | €10,444 | -€2,056 | -16.4% |
| Taxes | 450/3 | €12,333 | €10,444 | -€1,888 | -15.3% |
| Remuneration and social security | 454/9 | €168 | €0 | -€168 | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,830 | €4,329 | -€501 | -10.4% |
| Remuneration, social security and pensions | 62 | €780 | €608 | -€171 | -22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,689 | €11,348 | +€2,659 | +30.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€384 | €3,020 | +€3,404 | |
| Other operating charges | 640/8 | €6,777 | €6,232 | -€545 | -8.0% |
| Gross operating margin | 9900 | €33,213 | €41,888 | +€8,675 | +26.1% |
| Operating profit (loss) | 9901 | €17,352 | €20,680 | +€3,328 | +19.2% |
| Financial income | 75/76B | €466 | €143 | -€323 | -69.3% |
| Recurring financial income | 75 | €466 | €143 | -€323 | -69.3% |
| Financial charges | 65/66B | €9,741 | €8,522 | -€1,219 | -12.5% |
| Recurring financial charges | 65 | €9,741 | €8,522 | -€1,219 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €8,077 | €12,301 | +€4,224 | +52.3% |
| Income taxes | 67/77 | €2,550 | €4,711 | +€2,160 | +84.7% |
| Profit (loss) for the period | 9904 | €5,527 | €7,591 | +€2,064 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,527 | €7,591 | +€2,064 | +37.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.