STUGOTS: 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.
STUGOTS
Largest movements
- Tangible fixed assets +€179,997
new in 2025: €179,997
of which Land and buildings: +€178,932
- Receivables within one year +€42,209
up €42,209 (+122%), from €34,671 to €76,880
of which Trade receivables: +€40,642
- Cash -€11,397
down €11,397 (-74.5%), from €15,304 to €3,907
mainly Investment in fixed assets (net) (-€184,447) and Receivables within one year (-€42,209)
- Debts after one year +€171,168
new in 2025: €171,168
- Profit (loss) carried forward +€30,499
up €30,499 (+97.7%), from €31,226 to €61,725
- Current portion of long-term debt +€8,111
new in 2025: €8,111
- Gross operating margin +€7,259
up €7,259 (+18.4%), from €39,553 to €46,812
- Depreciation +€4,450
new in 2025: €4,450
- Financial charges +€3,425
up €3,425 (+4,722%), from €73 to €3,497
- Other operating charges +€471
new in 2025: €471
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 | €49,975 | €260,784 | +€210,810 | +422% |
| Fixed assets | 21/28 | - | €179,997 | +€179,997 | |
| Tangible fixed assets | 22/27 | - | €179,997 | +€179,997 | |
| Land and buildings | 22 | - | €178,932 | +€178,932 | |
| Plant, machinery and equipment | 23 | - | €1,065 | +€1,065 | |
| Current assets | 29/58 | €49,975 | €80,787 | +€30,812 | +61.7% |
| Amounts receivable within one year | 40/41 | €34,671 | €76,880 | +€42,209 | +122% |
| Trade receivables | 40 | €24,168 | €64,810 | +€40,642 | +168% |
| Other amounts receivable | 41 | €10,503 | €12,070 | +€1,568 | +14.9% |
| Cash at bank and in hand | 54/58 | €15,304 | €3,907 | -€11,397 | -74.5% |
| Total equity and liabilities | 10/49 | €49,975 | €260,784 | +€210,810 | +422% |
| Equity | 10/15 | €33,226 | €63,725 | +€30,499 | +91.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,226 | €61,725 | +€30,499 | +97.7% |
| Amounts payable | 17/49 | €16,748 | €197,059 | +€180,311 | +1,077% |
| Amounts payable after more than one year | 17 | - | €171,168 | +€171,168 | |
| Financial debts | 170/4 | - | €171,168 | +€171,168 | |
| Amounts payable within one year | 42/48 | €16,748 | €25,891 | +€9,143 | +54.6% |
| Current portion of amounts payable after more than one year | 42 | - | €8,111 | +€8,111 | |
| Trade debts | 44 | €351 | €1,828 | +€1,477 | +421% |
| Suppliers | 440/4 | €351 | €1,828 | +€1,477 | +421% |
| Taxes, remuneration and social security | 45 | €16,398 | €13,824 | -€2,573 | -15.7% |
| Taxes | 450/3 | €16,398 | €12,124 | -€4,273 | -26.1% |
| Remuneration and social security | 454/9 | - | €1,700 | +€1,700 | |
| Other amounts payable | 47/48 | - | €2,128 | +€2,128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,450 | +€4,450 | |
| Other operating charges | 640/8 | - | €471 | +€471 | |
| Gross operating margin | 9900 | €39,553 | €46,812 | +€7,259 | +18.4% |
| Operating profit (loss) | 9901 | €39,553 | €41,891 | +€2,338 | +5.9% |
| Financial charges | 65/66B | €73 | €3,497 | +€3,425 | +4,722% |
| Recurring financial charges | 65 | €73 | €3,497 | +€3,425 | +4,722% |
| Profit (loss) for the period before taxes | 9903 | €39,480 | €38,394 | -€1,086 | -2.8% |
| Income taxes | 67/77 | €8,254 | €7,895 | -€359 | -4.3% |
| Profit (loss) for the period | 9904 | €31,226 | €30,499 | -€727 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,226 | €30,499 | -€727 | -2.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.