Stucproject: 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.
Stucproject
Largest movements
- Cash +€41,082
up €41,082 (+82.9%), from €49,585 to €90,666
mainly Depreciation (+€40,037) and Net result for the year (+€18,876)
- Tangible fixed assets -€35,309
down €35,309 (-12.0%), from €293,687 to €258,379
of which Leasing and similar rights: -€20,402
- Deferred charges and accrued income -€7,355
down €7,355 (-89.1%), from €8,253 to €898
- Debts after one year -€21,535
down €21,535 (-10.4%), from €206,900 to €185,364
- Trade debts +€13,341
up €13,341 (+42.9%), from €31,109 to €44,450
- Other debts +€10,490
up €10,490 (+120.1%), from €8,731 to €19,221
- Current portion of long-term debt -€10,302
down €10,302 (-32.4%), from €31,837 to €21,535
- Tax, wage and social debts +€7,157
up €7,157 (+55.9%), from €12,805 to €19,962
of which Taxes: +€3,637
- Gross operating margin +€54,173
up €54,173 (+36.5%), from €148,432 to €202,604
- Staff costs +€38,979
up €38,979 (+43.1%), from €90,539 to €129,518
- Depreciation +€6,079
up €6,079 (+17.9%), from €33,958 to €40,037
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 | €454,235 | €453,575 | -€660 | -0.1% |
| Fixed assets | 21/28 | €296,187 | €260,879 | -€35,309 | -11.9% |
| Tangible fixed assets | 22/27 | €293,687 | €258,379 | -€35,309 | -12.0% |
| Land and buildings | 22 | €205,071 | €194,822 | -€10,249 | -5.0% |
| Plant, machinery and equipment | 23 | €27,003 | €19,233 | -€7,770 | -28.8% |
| Furniture and vehicles | 24 | €2,459 | €5,572 | +€3,113 | +126.6% |
| Leasing and similar rights | 25 | €59,154 | €38,752 | -€20,402 | -34.5% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €158,048 | €192,696 | +€34,648 | +21.9% |
| Stocks and contracts in progress | 3 | €15,000 | €16,000 | +€1,000 | +6.7% |
| Stocks | 30/36 | €15,000 | €16,000 | +€1,000 | +6.7% |
| Amounts receivable within one year | 40/41 | €85,210 | €85,131 | -€79 | -0.1% |
| Trade receivables | 40 | €81,850 | €81,220 | -€630 | -0.8% |
| Other amounts receivable | 41 | €3,360 | €3,911 | +€552 | +16.4% |
| Cash at bank and in hand | 54/58 | €49,585 | €90,666 | +€41,082 | +82.9% |
| Deferred charges and accrued income | 490/1 | €8,253 | €898 | -€7,355 | -89.1% |
| Total equity and liabilities | 10/49 | €454,235 | €453,575 | -€660 | -0.1% |
| Equity | 10/15 | €162,652 | €162,652 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €144,052 | €144,052 | = | 0.0% |
| Distributable reserves | 133 | €144,052 | €144,052 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €291,583 | €290,922 | -€660 | -0.2% |
| Amounts payable after more than one year | 17 | €206,900 | €185,364 | -€21,535 | -10.4% |
| Financial debts | 170/4 | €206,900 | €185,364 | -€21,535 | -10.4% |
| Amounts payable within one year | 42/48 | €84,483 | €105,169 | +€20,686 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €31,837 | €21,535 | -€10,302 | -32.4% |
| Trade debts | 44 | €31,109 | €44,450 | +€13,341 | +42.9% |
| Suppliers | 440/4 | €31,109 | €44,450 | +€13,341 | +42.9% |
| Taxes, remuneration and social security | 45 | €12,805 | €19,962 | +€7,157 | +55.9% |
| Taxes | 450/3 | €7,968 | €11,605 | +€3,637 | +45.6% |
| Remuneration and social security | 454/9 | €4,838 | €8,357 | +€3,520 | +72.8% |
| Other amounts payable | 47/48 | €8,731 | €19,221 | +€10,490 | +120.1% |
| Accrued charges and deferred income | 492/3 | €200 | €389 | +€189 | +94.7% |
| Remuneration, social security and pensions | 62 | €90,539 | €129,518 | +€38,979 | +43.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,958 | €40,037 | +€6,079 | +17.9% |
| Other operating charges | 640/8 | €345 | €2,029 | +€1,684 | +488.2% |
| Gross operating margin | 9900 | €148,432 | €202,604 | +€54,173 | +36.5% |
| Operating profit (loss) | 9901 | €23,589 | €31,019 | +€7,430 | +31.5% |
| Financial income | 75/76B | €94 | €59 | -€35 | -37.1% |
| Recurring financial income | 75 | €94 | €59 | -€35 | -37.1% |
| Financial charges | 65/66B | €4,789 | €5,740 | +€951 | +19.9% |
| Recurring financial charges | 65 | €4,789 | €5,740 | +€951 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €18,894 | €25,338 | +€6,444 | +34.1% |
| Income taxes | 67/77 | €5,144 | €6,463 | +€1,319 | +25.6% |
| Profit (loss) for the period | 9904 | €13,750 | €18,876 | +€5,125 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,750 | €18,876 | +€5,125 | +37.3% |
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 9 October 2026 via checked.be.