STUKA-PROJECT: 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.
STUKA-PROJECT
Largest movements
- Tangible fixed assets +€9,309
up €9,309 (+71.4%), from €13,033 to €22,343
of which Plant, machinery and equipment: +€7,824
- Cash +€4,164
up €4,164 (+23.3%), from €17,890 to €22,054
mainly Net result for the year (+€20,683) and Depreciation (+€5,566)
- Receivables within one year -€1,895
down €1,895 (-19.9%), from €9,531 to €7,635
of which Trade receivables: -€3,785
- Profit (loss) carried forward +€19,883
up €19,883, from -€5,997 to €13,887
- Tax, wage and social debts -€5,375
down €5,375 (-68.5%), from €7,850 to €2,475
of which Taxes: -€4,519
- Debts after one year -€5,357
down €5,357 (-55.9%), from €9,582 to €4,226
- Trade debts +€4,521
up €4,521 (+120%), from €3,777 to €8,298
- Other debts -€4,240
down €4,240 (-27.5%), from €15,435 to €11,195
- Gross operating margin +€20,434
up €20,434 (+174%), from €11,738 to €32,172
- Depreciation +€3,132
up €3,132 (+129%), from €2,434 to €5,566
- Other operating charges +€3,121
up €3,121 (+543%), from €575 to €3,695
- Taxes +€832
up €832 (+378%), from €220 to €1,052
- Financial charges -€426
down €426 (-21.6%), from €1,966 to €1,541
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 | €43,480 | €54,960 | +€11,480 | +26.4% |
| Formation expenses | 20 | €965 | €723 | -€241 | -25.0% |
| Fixed assets | 21/28 | €13,033 | €22,343 | +€9,309 | +71.4% |
| Tangible fixed assets | 22/27 | €13,033 | €22,343 | +€9,309 | +71.4% |
| Plant, machinery and equipment | 23 | €2,694 | €10,518 | +€7,824 | +290% |
| Furniture and vehicles | 24 | €10,340 | €11,825 | +€1,485 | +14.4% |
| Current assets | 29/58 | €29,482 | €31,893 | +€2,411 | +8.2% |
| Amounts receivable within one year | 40/41 | €9,531 | €7,635 | -€1,895 | -19.9% |
| Trade receivables | 40 | €9,291 | €5,506 | -€3,785 | -40.7% |
| Other amounts receivable | 41 | €240 | €2,129 | +€1,890 | +789% |
| Cash at bank and in hand | 54/58 | €17,890 | €22,054 | +€4,164 | +23.3% |
| Deferred charges and accrued income | 490/1 | €2,061 | €2,204 | +€142 | +6.9% |
| Total equity and liabilities | 10/49 | €43,480 | €54,960 | +€11,480 | +26.4% |
| Equity | 10/15 | €203 | €20,087 | +€19,883 | +9,781% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,997 | €13,887 | +€19,883 | |
| Amounts payable | 17/49 | €43,277 | €34,873 | -€8,404 | -19.4% |
| Amounts payable after more than one year | 17 | €9,582 | €4,226 | -€5,357 | -55.9% |
| Financial debts | 170/4 | €9,582 | €4,226 | -€5,357 | -55.9% |
| Amounts payable within one year | 42/48 | €33,632 | €30,483 | -€3,149 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €5,056 | €5,357 | +€301 | +5.9% |
| Financial debts | 43 | €1,515 | €3,159 | +€1,644 | +108% |
| Credit institutions | 430/8 | €1,515 | €3,159 | +€1,644 | +108% |
| Trade debts | 44 | €3,777 | €8,298 | +€4,521 | +120% |
| Suppliers | 440/4 | €3,777 | €8,298 | +€4,521 | +120% |
| Taxes, remuneration and social security | 45 | €7,850 | €2,475 | -€5,375 | -68.5% |
| Taxes | 450/3 | €5,794 | €1,275 | -€4,519 | -78.0% |
| Remuneration and social security | 454/9 | €2,056 | €1,200 | -€856 | -41.6% |
| Other amounts payable | 47/48 | €15,435 | €11,195 | -€4,240 | -27.5% |
| Accrued charges and deferred income | 492/3 | €62 | €164 | +€102 | +165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,434 | €5,566 | +€3,132 | +129% |
| Other operating charges | 640/8 | €575 | €3,695 | +€3,121 | +543% |
| Non-recurring operating charges | 66A | €4,908 | - | -€4,908 | |
| Gross operating margin | 9900 | €11,738 | €32,172 | +€20,434 | +174% |
| Operating profit (loss) | 9901 | €3,821 | €22,911 | +€19,090 | +500% |
| Financial income | 75/76B | €154 | €365 | +€211 | +137% |
| Recurring financial income | 75 | €154 | €365 | +€211 | +137% |
| Financial charges | 65/66B | €1,966 | €1,541 | -€426 | -21.6% |
| Recurring financial charges | 65 | €1,966 | €1,541 | -€426 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €2,009 | €21,735 | +€19,727 | +982% |
| Income taxes | 67/77 | €220 | €1,052 | +€832 | +378% |
| Profit (loss) for the period | 9904 | €1,789 | €20,683 | +€18,895 | +1,056% |
| Profit (loss) for the period to be appropriated | 9905 | €1,789 | €20,683 | +€18,895 | +1,056% |
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 14 October 2026 via checked.be.