STUER CONSTRUCT: what changed
What changed
STUER CONSTRUCT
NACE 25.110, Manufacture of metal structures and parts of structures
filed annual accounts (NBB)
Net result for the year
€20,415
2024 · -€20,657+€41,072
Equity
€41,412
2024 · €47,402-€5,990
Cash
€96,339
2024 · €73,215+€23,124
Balance sheet total
€113,383
2024 · €132,572-€19,190
Largest movements
Assets
- Receivables within one year -€40,781
down €40,781 (-74.0%), from €55,090 to €14,309
of which Trade receivables: -€40,697
- Cash +€23,124
up €23,124 (+31.6%), from €73,215 to €96,339
mainly Receivables within one year (+€40,781) and Other debts (+€27,806)
Equity and liabilities
- Other debts +€27,806
up €27,806 (+326%), from €8,540 to €36,345
- Reserves -€26,405
down €26,405 (-61.3%), from €43,059 to €16,654
- Profit (loss) carried forward +€20,415
up €20,415 (+98.8%), from -€20,657 to -€242
- Current portion of long-term debt -€18,115
down €18,115 (-60.1%), from €30,146 to €12,031
- Trade debts -€13,101
down €13,101 (-92.6%), from €14,146 to €1,046
Income statement
- Gross operating margin -€70,357
down €70,357 (-74.4%), from €94,587 to €24,231
- Staff costs -€53,616
down €53,616 (-98.7%), from €54,338 to €722
- Other operating charges -€50,606
down €50,606 (-99.0%), from €51,138 to €531
- Financial income +€1,194
up €1,194 (+2,932%), from €41 to €1,234
- Taxes +€1,164
up €1,164 (+6,031%), from €19 to €1,183
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€20,657
Gross operating margin
-€70,357
Staff costs
+€53,616
Depreciation
+€105
Other operating charges
+€50,606
Other operating items
+€6,061
Financial income
+€1,194
Financial charges
+€1,011
Taxes
-€1,164
Result 2025
€20,415
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€79,675
Investment
€0
Financing
-€56,551
Cash 2024
€73,215
From operations (derived)
+€79,675
Net result for the year
+€20,415
Depreciation
+€1,070
Receivables within one year
+€40,781
Deferred charges and accrued income
+€462
Trade debts
-€13,101
Tax, wage and social debts
+€2,242
Other debts
+€27,806
Financing
-€56,551
Debts after one year
-€12,031
Current portion of long-term debt
-€18,115
Contributions, distributions and other
-€26,405
Cash 2025
€96,339
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €132,572 | €113,383 | -€19,190 | -14.5% |
| Fixed assets | 21/28 | €3,692 | €2,621 | -€1,070 | -29.0% |
| Tangible fixed assets | 22/27 | €3,692 | €2,621 | -€1,070 | -29.0% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,692 | €2,621 | -€1,070 | -29.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €128,880 | €110,761 | -€18,119 | -14.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €55,090 | €14,309 | -€40,781 | -74.0% |
| Trade receivables | 40 | €55,007 | €14,309 | -€40,697 | -74.0% |
| Other amounts receivable | 41 | €84 | €0 | -€84 | -100% |
| Cash at bank and in hand | 54/58 | €73,215 | €96,339 | +€23,124 | +31.6% |
| Deferred charges and accrued income | 490/1 | €575 | €113 | -€462 | -80.3% |
| Total equity and liabilities | 10/49 | €132,572 | €113,383 | -€19,190 | -14.5% |
| Equity | 10/15 | €47,402 | €41,412 | -€5,990 | -12.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €43,059 | €16,654 | -€26,405 | -61.3% |
| Distributable reserves | 133 | €43,059 | €16,654 | -€26,405 | -61.3% |
| Profit (loss) carried forward | 14 | -€20,657 | -€242 | +€20,415 | +98.8% |
| Amounts payable | 17/49 | €85,170 | €71,971 | -€13,199 | -15.5% |
| Amounts payable after more than one year | 17 | €27,532 | €15,500 | -€12,031 | -43.7% |
| Financial debts | 170/4 | €27,532 | €15,500 | -€12,031 | -43.7% |
| Amounts payable within one year | 42/48 | €57,639 | €56,470 | -€1,168 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €30,146 | €12,031 | -€18,115 | -60.1% |
| Trade debts | 44 | €14,146 | €1,046 | -€13,101 | -92.6% |
| Suppliers | 440/4 | €14,146 | €1,046 | -€13,101 | -92.6% |
| Taxes, remuneration and social security | 45 | €4,807 | €7,048 | +€2,242 | +46.6% |
| Taxes | 450/3 | €4,807 | €7,048 | +€2,242 | +46.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,540 | €36,345 | +€27,806 | +326% |
| Remuneration, social security and pensions | 62 | €54,338 | €722 | -€53,616 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,175 | €1,070 | -€105 | -8.9% |
| Other operating charges | 640/8 | €51,138 | €531 | -€50,606 | -99.0% |
| Non-recurring operating charges | 66A | €6,061 | €0 | -€6,061 | -100% |
| Gross operating margin | 9900 | €94,587 | €24,231 | -€70,357 | -74.4% |
| Operating profit (loss) | 9901 | -€18,124 | €21,907 | +€40,031 | |
| Financial income | 75/76B | €41 | €1,234 | +€1,194 | +2,932% |
| Recurring financial income | 75 | €41 | €1,234 | +€1,194 | +2,932% |
| Financial charges | 65/66B | €2,554 | €1,543 | -€1,011 | -39.6% |
| Recurring financial charges | 65 | €2,554 | €1,543 | -€1,011 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,638 | €21,598 | +€42,236 | |
| Income taxes | 67/77 | €19 | €1,183 | +€1,164 | +6,031% |
| Profit (loss) for the period | 9904 | -€20,657 | €20,415 | +€41,072 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,657 | €20,415 | +€41,072 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.