STUMBO: 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.
STUMBO
Largest movements
- Cash -€79,245
down €79,245 (-43.1%), from €183,835 to €104,590
mainly Net result for the year (-€92,741) and Receivables within one year (-€33,820)
- Stocks and contracts -€35,862
down €35,862 (-24.0%), from €149,403 to €113,540
- Receivables within one year +€33,820
up €33,820 (+150.2%), from €22,521 to €56,341
of which Trade receivables: +€30,622
- Deferred charges and accrued income -€11,846
down €11,846 (-96.0%), from €12,345 to €498
- Profit (loss) carried forward -€92,741
down €92,741 (-39.8%), from €232,818 to €140,077
- Trade debts +€54,103
up €54,103 (+3052.2%), from €1,773 to €55,875
- Advances received -€23,203
down €23,203 (-100.0%), from €23,203 to €0
- Other debts -€17,175
down €17,175 (-100.0%), from €17,175 to €0
- Tax, wage and social debts -€15,682
down €15,682 (-54.6%), from €28,730 to €13,047
of which Taxes: -€8,332
- Gross operating margin -€43,698
down €43,698, from €6,993 to -€36,705
- Staff costs -€15,497
down €15,497 (-28.5%), from €54,354 to €38,857
- Other operating charges +€2,579
up €2,579 (+80.4%), from €3,210 to €5,789
- Financial charges +€373
up €373 (+5.1%), from €7,342 to €7,716
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
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 | €385,698 | €291,000 | -€94,699 | -24.6% |
| Fixed assets | 21/28 | €17,595 | €16,030 | -€1,565 | -8.9% |
| Tangible fixed assets | 22/27 | €5,614 | €4,049 | -€1,565 | -27.9% |
| Plant, machinery and equipment | 23 | €5,614 | €4,049 | -€1,565 | -27.9% |
| Financial fixed assets | 28 | €11,981 | €11,981 | = | 0.0% |
| Current assets | 29/58 | €368,103 | €274,970 | -€93,133 | -25.3% |
| Stocks and contracts in progress | 3 | €149,403 | €113,540 | -€35,862 | -24.0% |
| Stocks | 30/36 | €149,403 | €113,540 | -€35,862 | -24.0% |
| Amounts receivable within one year | 40/41 | €22,521 | €56,341 | +€33,820 | +150.2% |
| Trade receivables | 40 | €21,992 | €52,614 | +€30,622 | +139.2% |
| Other amounts receivable | 41 | €529 | €3,727 | +€3,198 | +604.7% |
| Cash at bank and in hand | 54/58 | €183,835 | €104,590 | -€79,245 | -43.1% |
| Deferred charges and accrued income | 490/1 | €12,345 | €498 | -€11,846 | -96.0% |
| Total equity and liabilities | 10/49 | €385,698 | €291,000 | -€94,699 | -24.6% |
| Equity | 10/15 | €314,818 | €222,077 | -€92,741 | -29.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €62,000 | €62,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | - | €2,000 | +€2,000 | |
| Distributable reserves | 133 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €232,818 | €140,077 | -€92,741 | -39.8% |
| Amounts payable | 17/49 | €70,881 | €68,923 | -€1,958 | -2.8% |
| Amounts payable within one year | 42/48 | €70,881 | €68,923 | -€1,958 | -2.8% |
| Trade debts | 44 | €1,773 | €55,875 | +€54,103 | +3052.2% |
| Suppliers | 440/4 | €1,773 | €55,875 | +€54,103 | +3052.2% |
| Advances received on contracts in progress | 46 | €23,203 | €0 | -€23,203 | -100.0% |
| Taxes, remuneration and social security | 45 | €28,730 | €13,047 | -€15,682 | -54.6% |
| Taxes | 450/3 | €10,963 | €2,631 | -€8,332 | -76.0% |
| Remuneration and social security | 454/9 | €17,767 | €10,417 | -€7,350 | -41.4% |
| Other amounts payable | 47/48 | €17,175 | €0 | -€17,175 | -100.0% |
| Remuneration, social security and pensions | 62 | €54,354 | €38,857 | -€15,497 | -28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,518 | €1,565 | +€48 | +3.2% |
| Other operating charges | 640/8 | €3,210 | €5,789 | +€2,579 | +80.4% |
| Non-recurring operating charges | 66A | - | €1,277 | +€1,277 | |
| Gross operating margin | 9900 | €6,993 | -€36,705 | -€43,698 | |
| Operating profit (loss) | 9901 | -€52,088 | -€84,192 | -€32,105 | -61.6% |
| Financial income | 75/76B | €168 | €0 | -€168 | -100.0% |
| Recurring financial income | 75 | €168 | €0 | -€168 | -100.0% |
| Financial charges | 65/66B | €7,342 | €7,716 | +€373 | +5.1% |
| Recurring financial charges | 65 | €7,342 | €7,716 | +€373 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | -€59,263 | -€91,908 | -€32,646 | -55.1% |
| Income taxes | 67/77 | €877 | €833 | -€45 | -5.1% |
| Profit (loss) for the period | 9904 | -€60,140 | -€92,741 | -€32,601 | -54.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,140 | -€92,741 | -€32,601 | -54.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.