STUBBE M.T.: 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 M.T.
Largest movements
- Cash -€6,356
down €6,356 (-46.5%), from €13,667 to €7,311
mainly Net result for the year (-€9,409) and Investment in fixed assets (net) (-€2,354)
- Current investments -€3,958
down €3,958 (-39.4%), from €10,055 to €6,097
- Tangible fixed assets +€1,458
up €1,458 (+78.3%), from €1,862 to €3,320
- Receivables within one year +€1,022
up €1,022 (+20.8%), from €4,913 to €5,935
of which Trade receivables: +€783
- Profit (loss) carried forward -€9,409
down €9,409 (-58.2%), from €16,177 to €6,768
- Other debts +€2,354
up €2,354 (+58.4%), from €4,032 to €6,387
- Tax, wage and social debts -€544
down €544 (-51.0%), from €1,067 to €523
- Gross operating margin -€5,417
down €5,417 (-4,438%), from -€122 to -€5,539
- Depreciation +€700
up €700 (+357%), from €196 to €896
- Other operating charges -€137
down €137 (-19.0%), from €721 to €584
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 | €32,604 | €24,835 | -€7,768 | -23.8% |
| Fixed assets | 21/28 | €1,862 | €3,320 | +€1,458 | +78.3% |
| Tangible fixed assets | 22/27 | €1,862 | €3,320 | +€1,458 | +78.3% |
| Plant, machinery and equipment | 23 | €1,862 | €3,320 | +€1,458 | +78.3% |
| Current assets | 29/58 | €30,742 | €21,516 | -€9,226 | -30.0% |
| Amounts receivable within one year | 40/41 | €4,913 | €5,935 | +€1,022 | +20.8% |
| Trade receivables | 40 | €4,913 | €5,696 | +€783 | +15.9% |
| Other amounts receivable | 41 | - | €239 | +€239 | |
| Current investments | 50/53 | €10,055 | €6,097 | -€3,958 | -39.4% |
| Cash at bank and in hand | 54/58 | €13,667 | €7,311 | -€6,356 | -46.5% |
| Deferred charges and accrued income | 490/1 | €2,106 | €2,173 | +€66 | +3.2% |
| Total equity and liabilities | 10/49 | €32,604 | €24,835 | -€7,768 | -23.8% |
| Equity | 10/15 | €26,100 | €16,691 | -€9,409 | -36.0% |
| Contributions | 10/11 | €9,924 | €9,924 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,177 | €6,768 | -€9,409 | -58.2% |
| Amounts payable | 17/49 | €6,503 | €8,144 | +€1,641 | +25.2% |
| Amounts payable within one year | 42/48 | €6,503 | €8,144 | +€1,641 | +25.2% |
| Trade debts | 44 | €1,403 | €1,234 | -€169 | -12.1% |
| Suppliers | 440/4 | €1,403 | €1,234 | -€169 | -12.1% |
| Taxes, remuneration and social security | 45 | €1,067 | €523 | -€544 | -51.0% |
| Taxes | 450/3 | €1,067 | €523 | -€544 | -51.0% |
| Other amounts payable | 47/48 | €4,032 | €6,387 | +€2,354 | +58.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196 | €896 | +€700 | +357% |
| Other operating charges | 640/8 | €721 | €584 | -€137 | -19.0% |
| Gross operating margin | 9900 | -€122 | -€5,539 | -€5,417 | -4,438% |
| Operating profit (loss) | 9901 | -€1,039 | -€7,019 | -€5,980 | -575% |
| Financial income | 75/76B | €66 | €42 | -€24 | -36.4% |
| Recurring financial income | 75 | €66 | €42 | -€24 | -36.4% |
| Financial charges | 65/66B | €2,303 | €2,254 | -€49 | -2.1% |
| Recurring financial charges | 65 | €2,303 | €2,254 | -€49 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,276 | -€9,230 | -€5,955 | -182% |
| Income taxes | 67/77 | €199 | €179 | -€20 | -9.9% |
| Profit (loss) for the period | 9904 | -€3,474 | -€9,409 | -€5,935 | -171% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,474 | -€9,409 | -€5,935 | -171% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.