STUBOC: 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.
STUBOC
Largest movements
- Tangible fixed assets +€50,378
up €50,378 (+19.5%), from €258,522 to €308,901
of which Plant, machinery and equipment: +€54,614
- Cash +€5,304
new in 2025: €5,304
mainly Debts after one year (+€41,534) and Depreciation (+€16,312)
- Debts after one year +€41,534
up €41,534 (+24.1%), from €172,518 to €214,052
- Profit (loss) carried forward +€8,722
up €8,722 (+53.8%), from -€16,201 to -€7,479
- Current portion of long-term debt +€6,451
up €6,451 (+37.4%), from €17,249 to €23,700
- Gross operating margin +€44,098
up €44,098, from -€7,720 to €36,378
- Purchases and services +€17,143
up €17,143 (+222.1%), from €7,720 to €24,862
- Depreciation +€11,367
up €11,367 (+229.9%), from €4,945 to €16,312
- Financial charges +€7,568
up €7,568 (+356.0%), from €2,126 to €9,694
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 | €260,781 | €319,093 | +€58,312 | +22.4% |
| Fixed assets | 21/28 | €258,522 | €310,521 | +€51,998 | +20.1% |
| Tangible fixed assets | 22/27 | €258,522 | €308,901 | +€50,378 | +19.5% |
| Land and buildings | 22 | €207,573 | €203,338 | -€4,235 | -2.0% |
| Plant, machinery and equipment | 23 | €50,949 | €105,563 | +€54,614 | +107.2% |
| Financial fixed assets | 28 | - | €1,620 | +€1,620 | |
| Current assets | 29/58 | €2,259 | €8,573 | +€6,314 | +279.5% |
| Stocks and contracts in progress | 3 | - | €1,692 | +€1,692 | |
| Stocks | 30/36 | - | €1,692 | +€1,692 | |
| Amounts receivable within one year | 40/41 | €2,259 | €1,577 | -€682 | -30.2% |
| Trade receivables | 40 | - | €1,081 | +€1,081 | |
| Other amounts receivable | 41 | €2,259 | €496 | -€1,763 | -78.1% |
| Cash at bank and in hand | 54/58 | - | €5,304 | +€5,304 | |
| Total equity and liabilities | 10/49 | €260,781 | €319,093 | +€58,312 | +22.4% |
| Equity | 10/15 | €53,799 | €62,521 | +€8,722 | +16.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,201 | -€7,479 | +€8,722 | +53.8% |
| Amounts payable | 17/49 | €206,983 | €256,573 | +€49,590 | +24.0% |
| Amounts payable after more than one year | 17 | €172,518 | €214,052 | +€41,534 | +24.1% |
| Financial debts | 170/4 | €172,518 | €214,052 | +€41,534 | +24.1% |
| Amounts payable within one year | 42/48 | €34,465 | €42,521 | +€8,056 | +23.4% |
| Current portion of amounts payable after more than one year | 42 | €17,249 | €23,700 | +€6,451 | +37.4% |
| Financial debts | 43 | €180 | - | -€180 | |
| Credit institutions | 430/8 | €180 | - | -€180 | |
| Trade debts | 44 | €6,341 | €6,404 | +€63 | +1.0% |
| Suppliers | 440/4 | €6,341 | €6,404 | +€63 | +1.0% |
| Taxes, remuneration and social security | 45 | - | €805 | +€805 | |
| Taxes | 450/3 | - | €805 | +€805 | |
| Other amounts payable | 47/48 | €10,695 | €11,612 | +€917 | +8.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €7,720 | €24,862 | +€17,143 | +222.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,945 | €16,312 | +€11,367 | +229.9% |
| Other operating charges | 640/8 | €1,411 | €1,651 | +€240 | +17.0% |
| Gross operating margin | 9900 | -€7,720 | €36,378 | +€44,098 | |
| Operating profit (loss) | 9901 | -€14,076 | €18,415 | +€32,491 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +9900.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +9900.0% |
| Financial charges | 65/66B | €2,126 | €9,694 | +€7,568 | +356.0% |
| Recurring financial charges | 65 | €2,126 | €9,694 | +€7,568 | +356.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,201 | €8,722 | +€24,924 | |
| Profit (loss) for the period | 9904 | -€16,201 | €8,722 | +€24,924 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,201 | €8,722 | +€24,924 |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.