STUCCARTE: 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.
STUCCARTE
Largest movements
- Cash -€19,054
down €19,054 (-50.3%), from €37,909 to €18,855
mainly Stocks and contracts (-€13,287) and Debts after one year (-€12,885)
- Tangible fixed assets -€15,862
down €15,862 (-24.7%), from €64,303 to €48,441
of which Leasing and similar rights: -€12,873
- Stocks and contracts +€13,287
up €13,287 (+712%), from €1,867 to €15,154
of which Stocks: +€10,787
- Receivables within one year -€4,081
down €4,081 (-4.4%), from €93,347 to €89,266
of which Trade receivables: -€16,264
- Debts after one year -€12,885
down €12,885 (-32.4%), from €39,796 to €26,911
- Tax, wage and social debts -€9,442
down €9,442 (-66.2%), from €14,267 to €4,825
of which Taxes: -€6,723
- Current portion of long-term debt -€6,530
down €6,530 (-33.6%), from €19,415 to €12,885
- Reserves +€4,000
up €4,000 (+4.3%), from €92,500 to €96,500
- Trade debts -€2,068
down €2,068 (-20.6%), from €10,019 to €7,951
- Gross operating margin -€39,152
down €39,152 (-23.7%), from €164,856 to €125,705
- Taxes -€11,950
down €11,950 (-82.8%), from €14,428 to €2,478
- Staff costs -€5,976
down €5,976 (-5.6%), from €106,040 to €100,064
- Depreciation +€5,961
up €5,961 (+60.2%), from €9,901 to €15,862
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 | €199,191 | €172,389 | -€26,802 | -13.5% |
| Fixed assets | 21/28 | €64,303 | €48,441 | -€15,862 | -24.7% |
| Tangible fixed assets | 22/27 | €64,303 | €48,441 | -€15,862 | -24.7% |
| Plant, machinery and equipment | 23 | €9,879 | €7,989 | -€1,890 | -19.1% |
| Furniture and vehicles | 24 | €2,658 | €1,559 | -€1,099 | -41.3% |
| Leasing and similar rights | 25 | €51,766 | €38,893 | -€12,873 | -24.9% |
| Current assets | 29/58 | €134,888 | €123,948 | -€10,940 | -8.1% |
| Stocks and contracts in progress | 3 | €1,867 | €15,154 | +€13,287 | +712% |
| Stocks | 30/36 | €1,867 | €12,654 | +€10,787 | +578% |
| Contracts in progress | 37 | - | €2,500 | +€2,500 | |
| Amounts receivable within one year | 40/41 | €93,347 | €89,266 | -€4,081 | -4.4% |
| Trade receivables | 40 | €90,008 | €73,744 | -€16,264 | -18.1% |
| Other amounts receivable | 41 | €3,340 | €15,522 | +€12,182 | +365% |
| Cash at bank and in hand | 54/58 | €37,909 | €18,855 | -€19,054 | -50.3% |
| Deferred charges and accrued income | 490/1 | €1,765 | €673 | -€1,092 | -61.9% |
| Total equity and liabilities | 10/49 | €199,191 | €172,389 | -€26,802 | -13.5% |
| Equity | 10/15 | €115,595 | €119,718 | +€4,123 | +3.6% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €92,500 | €96,500 | +€4,000 | +4.3% |
| Distributable reserves | 133 | €92,500 | €96,500 | +€4,000 | +4.3% |
| Profit (loss) carried forward | 14 | €2,095 | €2,218 | +€123 | +5.9% |
| Amounts payable | 17/49 | €83,597 | €52,672 | -€30,925 | -37.0% |
| Amounts payable after more than one year | 17 | €39,796 | €26,911 | -€12,885 | -32.4% |
| Financial debts | 170/4 | €39,796 | €26,911 | -€12,885 | -32.4% |
| Amounts payable within one year | 42/48 | €43,800 | €25,761 | -€18,040 | -41.2% |
| Current portion of amounts payable after more than one year | 42 | €19,415 | €12,885 | -€6,530 | -33.6% |
| Trade debts | 44 | €10,019 | €7,951 | -€2,068 | -20.6% |
| Suppliers | 440/4 | €10,019 | €7,951 | -€2,068 | -20.6% |
| Taxes, remuneration and social security | 45 | €14,267 | €4,825 | -€9,442 | -66.2% |
| Taxes | 450/3 | €9,151 | €2,428 | -€6,723 | -73.5% |
| Remuneration and social security | 454/9 | €5,116 | €2,397 | -€2,719 | -53.2% |
| Other amounts payable | 47/48 | €100 | €100 | = | 0.0% |
| Non-recurring operating income | 76A | €86 | - | -€86 | |
| Remuneration, social security and pensions | 62 | €106,040 | €100,064 | -€5,976 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,901 | €15,862 | +€5,961 | +60.2% |
| Other operating charges | 640/8 | €1,179 | €1,631 | +€453 | +38.4% |
| Gross operating margin | 9900 | €164,856 | €125,705 | -€39,152 | -23.7% |
| Operating profit (loss) | 9901 | €47,737 | €8,148 | -€39,589 | -82.9% |
| Financial income | 75/76B | €743 | €707 | -€36 | -4.9% |
| Recurring financial income | 75 | €743 | €707 | -€36 | -4.9% |
| Financial charges | 65/66B | €1,754 | €2,254 | +€500 | +28.5% |
| Recurring financial charges | 65 | €1,754 | €2,254 | +€500 | +28.5% |
| Profit (loss) for the period before taxes | 9903 | €46,726 | €6,601 | -€40,125 | -85.9% |
| Income taxes | 67/77 | €14,428 | €2,478 | -€11,950 | -82.8% |
| Profit (loss) for the period | 9904 | €32,298 | €4,123 | -€28,175 | -87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,298 | €4,123 | -€28,175 | -87.2% |
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.