STUR: 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.
STUR
Largest movements
- Cash +€44,254
up €44,254 (+32.5%), from €136,276 to €180,530
mainly Net result for the year (+€47,981) and Tax, wage and social debts (+€17,791)
- Tangible fixed assets +€34,050
up €34,050 (+76.1%), from €44,758 to €78,809
of which Other tangible fixed assets: +€34,633
- Receivables within one year -€6,547
down €6,547 (-26.5%), from €24,719 to €18,172
of which Trade receivables: -€5,426
- Reserves +€47,981
up €47,981 (+33.7%), from €142,564 to €190,545
of which Distributable reserves: +€49,836
- Tax, wage and social debts +€17,791
up €17,791 (+176%), from €10,085 to €27,877
of which Taxes: +€17,776
- Debts after one year +€9,824
up €9,824 (+48.1%), from €20,428 to €30,252
- Current portion of long-term debt -€3,912
down €3,912 (-29.7%), from €13,169 to €9,257
- Gross operating margin +€36,462
up €36,462 (+69.8%), from €52,222 to €88,684
- Taxes +€16,857
up €16,857 (+219%), from €7,684 to €24,541
- Depreciation -€10,641
down €10,641 (-45.0%), from €23,659 to €13,019
- Other operating charges +€1,036
up €1,036 (+102%), from €1,016 to €2,051
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 | €211,861 | €282,471 | +€70,610 | +33.3% |
| Fixed assets | 21/28 | €49,718 | €83,769 | +€34,050 | +68.5% |
| Tangible fixed assets | 22/27 | €44,758 | €78,809 | +€34,050 | +76.1% |
| Plant, machinery and equipment | 23 | €583 | - | -€583 | |
| Other tangible fixed assets | 26 | €44,175 | €78,809 | +€34,633 | +78.4% |
| Financial fixed assets | 28 | €4,960 | €4,960 | = | 0.0% |
| Current assets | 29/58 | €162,143 | €198,702 | +€36,559 | +22.5% |
| Amounts receivable within one year | 40/41 | €24,719 | €18,172 | -€6,547 | -26.5% |
| Trade receivables | 40 | €23,404 | €17,978 | -€5,426 | -23.2% |
| Other amounts receivable | 41 | €1,315 | €194 | -€1,121 | -85.2% |
| Cash at bank and in hand | 54/58 | €136,276 | €180,530 | +€44,254 | +32.5% |
| Deferred charges and accrued income | 490/1 | €1,148 | - | -€1,148 | |
| Total equity and liabilities | 10/49 | €211,861 | €282,471 | +€70,610 | +33.3% |
| Equity | 10/15 | €161,114 | €209,095 | +€47,981 | +29.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €142,564 | €190,545 | +€47,981 | +33.7% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | €140,709 | €190,545 | +€49,836 | +35.4% |
| Amounts payable | 17/49 | €50,747 | €73,375 | +€22,629 | +44.6% |
| Amounts payable after more than one year | 17 | €20,428 | €30,252 | +€9,824 | +48.1% |
| Financial debts | 170/4 | €20,428 | €30,252 | +€9,824 | +48.1% |
| Amounts payable within one year | 42/48 | €30,141 | €42,961 | +€12,819 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €13,169 | €9,257 | -€3,912 | -29.7% |
| Financial debts | 43 | €2,045 | €2,045 | -€0 | 0.0% |
| Credit institutions | 430/8 | €2,045 | €2,045 | -€0 | 0.0% |
| Trade debts | 44 | €1,837 | €987 | -€850 | -46.3% |
| Suppliers | 440/4 | €1,837 | €987 | -€850 | -46.3% |
| Taxes, remuneration and social security | 45 | €10,085 | €27,877 | +€17,791 | +176% |
| Taxes | 450/3 | €7,496 | €25,272 | +€17,776 | +237% |
| Remuneration and social security | 454/9 | €2,590 | €2,605 | +€15 | +0.6% |
| Other amounts payable | 47/48 | €3,005 | €2,795 | -€210 | -7.0% |
| Accrued charges and deferred income | 492/3 | €177 | €163 | -€15 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,659 | €13,019 | -€10,641 | -45.0% |
| Other operating charges | 640/8 | €1,016 | €2,051 | +€1,036 | +102% |
| Gross operating margin | 9900 | €52,222 | €88,684 | +€36,462 | +69.8% |
| Operating profit (loss) | 9901 | €27,547 | €73,614 | +€46,068 | +167% |
| Financial income | 75/76B | €267 | €561 | +€294 | +110% |
| Recurring financial income | 75 | €267 | €561 | +€294 | +110% |
| Financial charges | 65/66B | €1,608 | €1,653 | +€45 | +2.8% |
| Recurring financial charges | 65 | €1,608 | €1,653 | +€45 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €26,205 | €72,522 | +€46,317 | +177% |
| Income taxes | 67/77 | €7,684 | €24,541 | +€16,857 | +219% |
| Profit (loss) for the period | 9904 | €18,521 | €47,981 | +€29,460 | +159% |
| Profit (loss) for the period to be appropriated | 9905 | €18,521 | €47,981 | +€29,460 | +159% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.