STUER-EGGHE: 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.
STUER-EGGHE
Largest movements
- Tangible fixed assets -€766,630
down €766,630 (-21.5%), from €3.6m to €2.8m
of which Leasing and similar rights: -€740,646
- Stocks and contracts +€390,907
up €390,907 (+15.9%), from €2.5m to €2.9m
- Cash -€243,001
down €243,001 (-54.4%), from €446,812 to €203,811
- Receivables within one year -€170,455
down €170,455 (-8.1%), from €2.1m to €1.9m
of which Trade receivables: -€219,034
- Deferred charges and accrued income +€101,583
up €101,583 (+16.5%), from €615,847 to €717,431
- Debts after one year -€544,355
down €544,355 (-22.1%), from €2.5m to €1.9m
- Current portion of long-term debt -€322,979
down €322,979 (-23.5%), from €1.4m to €1.1m
- Reserves +€231,095
up €231,095 (+6.7%), from €3.5m to €3.7m
of which Tax-exempt reserves: +€202,587
- Tax, wage and social debts -€138,158
down €138,158 (-24.3%), from €568,341 to €430,182
of which Taxes: -€81,475
- Trade debts +€110,644
up €110,644 (+13.0%), from €853,834 to €964,478
- Gross operating margin +€2.1m
up €2.1m (+51.8%), from €4.0m to €6.1m
- Staff costs +€1.2m
up €1.2m (+67.1%), from €1.8m to €3.1m
- Depreciation +€956,165
up €956,165 (+66.3%), from €1.4m to €2.4m
- Financial charges +€118,422
up €118,422 (+92.3%), from €128,327 to €246,750
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,819,545 | €9,063,993 | -€755,552 | -7.7% |
| Fixed assets | 21/28 | €4,179,679 | €3,345,093 | -€834,585 | -20.0% |
| Intangible fixed assets | 21 | €607,203 | €542,292 | -€64,911 | -10.7% |
| Tangible fixed assets | 22/27 | €3,564,661 | €2,798,031 | -€766,630 | -21.5% |
| Land and buildings | 22 | €183,257 | €137,408 | -€45,849 | -25.0% |
| Plant, machinery and equipment | 23 | €105,200 | €80,446 | -€24,754 | -23.5% |
| Furniture and vehicles | 24 | €122,828 | €131,145 | +€8,318 | +6.8% |
| Leasing and similar rights | 25 | €3,072,395 | €2,331,749 | -€740,646 | -24.1% |
| Other tangible fixed assets | 26 | €80,981 | €117,283 | +€36,302 | +44.8% |
| Financial fixed assets | 28 | €7,814 | €4,770 | -€3,044 | -39.0% |
| Current assets | 29/58 | €5,639,866 | €5,718,899 | +€79,034 | +1.4% |
| Stocks and contracts in progress | 3 | €2,462,679 | €2,853,586 | +€390,907 | +15.9% |
| Stocks | 30/36 | €2,462,679 | €2,853,586 | +€390,907 | +15.9% |
| Amounts receivable within one year | 40/41 | €2,114,527 | €1,944,072 | -€170,455 | -8.1% |
| Trade receivables | 40 | €2,095,947 | €1,876,913 | -€219,034 | -10.5% |
| Other amounts receivable | 41 | €18,580 | €67,159 | +€48,578 | +261.5% |
| Cash at bank and in hand | 54/58 | €446,812 | €203,811 | -€243,001 | -54.4% |
| Deferred charges and accrued income | 490/1 | €615,847 | €717,431 | +€101,583 | +16.5% |
| Total equity and liabilities | 10/49 | €9,819,545 | €9,063,993 | -€755,552 | -7.7% |
| Equity | 10/15 | €3,645,300 | €3,876,395 | +€231,095 | +6.3% |
| Contributions | 10/11 | €182,500 | €182,500 | = | 0.0% |
| Reserves | 13 | €3,462,800 | €3,693,895 | +€231,095 | +6.7% |
| Non-distributable reserves | 130/1 | €18,250 | €18,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,250 | €18,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,246,769 | €1,449,356 | +€202,587 | +16.2% |
| Distributable reserves | 133 | €2,197,781 | €2,226,288 | +€28,508 | +1.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €110,700 | €143,414 | +€32,714 | +29.6% |
| Provisions for liabilities and charges | 160/5 | €110,700 | €143,414 | +€32,714 | +29.6% |
| Environmental obligations | 163 | €110,700 | €143,414 | +€32,714 | +29.6% |
| Amounts payable | 17/49 | €6,063,545 | €5,044,184 | -€1.0m | -16.8% |
| Amounts payable after more than one year | 17 | €2,463,045 | €1,918,690 | -€544,355 | -22.1% |
| Financial debts | 170/4 | €2,463,045 | €1,918,690 | -€544,355 | -22.1% |
| Amounts payable within one year | 42/48 | €3,508,625 | €3,079,623 | -€429,003 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €1,373,571 | €1,050,592 | -€322,979 | -23.5% |
| Financial debts | 43 | €402,799 | €378,210 | -€24,589 | -6.1% |
| Credit institutions | 430/8 | €402,799 | €378,210 | -€24,589 | -6.1% |
| Trade debts | 44 | €853,834 | €964,478 | +€110,644 | +13.0% |
| Suppliers | 440/4 | €853,834 | €964,478 | +€110,644 | +13.0% |
| Taxes, remuneration and social security | 45 | €568,341 | €430,182 | -€138,158 | -24.3% |
| Taxes | 450/3 | €262,983 | €181,508 | -€81,475 | -31.0% |
| Remuneration and social security | 454/9 | €305,358 | €248,674 | -€56,684 | -18.6% |
| Other amounts payable | 47/48 | €310,081 | €256,160 | -€53,921 | -17.4% |
| Accrued charges and deferred income | 492/3 | €91,875 | €45,871 | -€46,003 | -50.1% |
| Non-recurring operating income | 76A | €739,064 | €365,652 | -€373,412 | -50.5% |
| Remuneration, social security and pensions | 62 | €1,844,019 | €3,081,825 | +€1.2m | +67.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,442,356 | €2,398,521 | +€956,165 | +66.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€18,733 | -€18,733 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,796 | €32,714 | +€35,511 | |
| Other operating charges | 640/8 | €45,956 | €86,010 | +€40,054 | +87.2% |
| Non-recurring operating charges | 66A | €18,450 | €0 | -€18,450 | -100.0% |
| Gross operating margin | 9900 | €3,995,717 | €6,066,057 | +€2.1m | +51.8% |
| Operating profit (loss) | 9901 | €647,732 | €485,720 | -€162,012 | -25.0% |
| Financial income | 75/76B | €5,649 | €13,260 | +€7,611 | +134.7% |
| Recurring financial income | 75 | €5,649 | €13,260 | +€7,611 | +134.7% |
| Financial charges | 65/66B | €128,327 | €246,750 | +€118,422 | +92.3% |
| Recurring financial charges | 65 | €128,327 | €246,750 | +€118,422 | +92.3% |
| Profit (loss) for the period before taxes | 9903 | €525,053 | €252,230 | -€272,824 | -52.0% |
| Income taxes | 67/77 | -€13,495 | €14,979 | +€28,474 | |
| Profit (loss) for the period | 9904 | €538,548 | €237,251 | -€301,297 | -55.9% |
| Transfer to tax-exempt reserves | 689 | €484,202 | €202,587 | -€281,614 | -58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,347 | €34,664 | -€19,683 | -36.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.