STUD L&L HERO: 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.
STUD L&L HERO
Largest movements
- Receivables within one year +€22,642
up €22,642 (+114%), from €19,893 to €42,535
of which Trade receivables: +€17,545
- Stocks and contracts +€22,150
up €22,150 (+6.6%), from €336,312 to €358,461
- Profit (loss) carried forward -€67,838
down €67,838 (-38.6%), from -€175,671 to -€243,509
- Other debts +€64,690
up €64,690 (+36.7%), from €176,500 to €241,190
- Trade debts +€38,243
up €38,243 (+149%), from €25,675 to €63,918
- Debts after one year +€9,950
up €9,950 (+3.0%), from €327,300 to €337,250
- Gross operating margin -€5,733
down €5,733 (-9.9%), from -€57,994 to -€63,727
- Financial charges +€1,754
up €1,754 (+110%), from €1,591 to €3,346
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 | €356,304 | €401,349 | +€45,045 | +12.6% |
| Current assets | 29/58 | €356,304 | €401,349 | +€45,045 | +12.6% |
| Stocks and contracts in progress | 3 | €336,312 | €358,461 | +€22,150 | +6.6% |
| Stocks | 30/36 | €336,312 | €358,461 | +€22,150 | +6.6% |
| Amounts receivable within one year | 40/41 | €19,893 | €42,535 | +€22,642 | +114% |
| Trade receivables | 40 | €18,755 | €36,300 | +€17,545 | +93.5% |
| Other amounts receivable | 41 | €1,138 | €6,235 | +€5,097 | +448% |
| Cash at bank and in hand | 54/58 | €100 | €353 | +€254 | +255% |
| Total equity and liabilities | 10/49 | €356,304 | €401,349 | +€45,045 | +12.6% |
| Equity | 10/15 | -€173,171 | -€241,009 | -€67,838 | -39.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€175,671 | -€243,509 | -€67,838 | -38.6% |
| Amounts payable | 17/49 | €529,475 | €642,358 | +€112,883 | +21.3% |
| Amounts payable after more than one year | 17 | €327,300 | €337,250 | +€9,950 | +3.0% |
| Other amounts payable | 178/9 | €327,300 | €337,250 | +€9,950 | +3.0% |
| Amounts payable within one year | 42/48 | €202,175 | €305,108 | +€102,933 | +50.9% |
| Trade debts | 44 | €25,675 | €63,918 | +€38,243 | +149% |
| Suppliers | 440/4 | €25,675 | €63,918 | +€38,243 | +149% |
| Other amounts payable | 47/48 | €176,500 | €241,190 | +€64,690 | +36.7% |
| Other operating charges | 640/8 | €841 | €765 | -€76 | -9.0% |
| Gross operating margin | 9900 | -€57,994 | -€63,727 | -€5,733 | -9.9% |
| Operating profit (loss) | 9901 | -€58,835 | -€64,492 | -€5,657 | -9.6% |
| Financial charges | 65/66B | €1,591 | €3,346 | +€1,754 | +110% |
| Recurring financial charges | 65 | €1,591 | €3,346 | +€1,754 | +110% |
| Profit (loss) for the period before taxes | 9903 | -€60,427 | -€67,838 | -€7,411 | -12.3% |
| Profit (loss) for the period | 9904 | -€60,427 | -€67,838 | -€7,411 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,427 | -€67,838 | -€7,411 | -12.3% |
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 28 October 2026 via checked.be.