Stuur: 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.
Stuur
Largest movements
- Receivables within one year -€32,626
down €32,626 (-65.6%), from €49,701 to €17,075
of which Other amounts receivable: -€19,445
- Financial fixed assets +€27,097
up €27,097 (+21.3%), from €127,286 to €154,383
- Receivables after one year -€20,000
down €20,000 (-100%), from €20,000 to €0
- Current portion of long-term debt -€27,437
down €27,437 (-55.8%), from €49,195 to €21,758
- Other debts +€21,363
new in 2025: €21,363
- Advances received -€19,807
down €19,807 (-100%), from €19,807 to €0
- Debts after one year +€13,039
up €13,039 (+52.9%), from €24,633 to €37,672
- Tax, wage and social debts -€7,660
down €7,660 (-33.3%), from €22,971 to €15,311
- Gross operating margin +€12,933
up €12,933 (+34.7%), from €37,223 to €50,156
- Taxes +€4,605
up €4,605 (+37.4%), from €12,325 to €16,930
- Financial income +€2,607
up €2,607 (+1,515%), from €172 to €2,779
of which Financial income: +€2,607
- Staff costs +€1,285
up €1,285 (+932%), from €138 to €1,423
- Other operating charges +€917
up €917 (+121%), from €757 to €1,674
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 | €210,043 | €183,280 | -€26,763 | -12.7% |
| Fixed assets | 21/28 | €130,192 | €156,534 | +€26,342 | +20.2% |
| Tangible fixed assets | 22/27 | €2,906 | €2,151 | -€756 | -26.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,906 | €2,151 | -€756 | -26.0% |
| Financial fixed assets | 28 | €127,286 | €154,383 | +€27,097 | +21.3% |
| Current assets | 29/58 | €79,851 | €26,746 | -€53,104 | -66.5% |
| Amounts receivable after more than one year | 29 | €20,000 | €0 | -€20,000 | -100% |
| Other amounts receivable | 291 | €20,000 | €0 | -€20,000 | -100% |
| Amounts receivable within one year | 40/41 | €49,701 | €17,075 | -€32,626 | -65.6% |
| Trade receivables | 40 | €26,552 | €13,371 | -€13,182 | -49.6% |
| Other amounts receivable | 41 | €23,149 | €3,704 | -€19,445 | -84.0% |
| Cash at bank and in hand | 54/58 | €9,492 | €9,671 | +€179 | +1.9% |
| Deferred charges and accrued income | 490/1 | €657 | €0 | -€657 | -100% |
| Total equity and liabilities | 10/49 | €210,043 | €183,280 | -€26,763 | -12.7% |
| Equity | 10/15 | €91,592 | €86,538 | -€5,054 | -5.5% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €84,092 | €79,038 | -€5,054 | -6.0% |
| Distributable reserves | 133 | €84,092 | €79,038 | -€5,054 | -6.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €118,451 | €96,743 | -€21,708 | -18.3% |
| Amounts payable after more than one year | 17 | €24,633 | €37,672 | +€13,039 | +52.9% |
| Financial debts | 170/4 | €24,633 | €37,672 | +€13,039 | +52.9% |
| Amounts payable within one year | 42/48 | €92,192 | €59,070 | -€33,122 | -35.9% |
| Current portion of amounts payable after more than one year | 42 | €49,195 | €21,758 | -€27,437 | -55.8% |
| Trade debts | 44 | €218 | €638 | +€419 | +192% |
| Suppliers | 440/4 | €218 | €638 | +€419 | +192% |
| Advances received on contracts in progress | 46 | €19,807 | €0 | -€19,807 | -100% |
| Taxes, remuneration and social security | 45 | €22,971 | €15,311 | -€7,660 | -33.3% |
| Taxes | 450/3 | €22,971 | €15,311 | -€7,660 | -33.3% |
| Other amounts payable | 47/48 | - | €21,363 | +€21,363 | |
| Accrued charges and deferred income | 492/3 | €1,626 | €0 | -€1,626 | -100% |
| Remuneration, social security and pensions | 62 | €138 | €1,423 | +€1,285 | +932% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €880 | €756 | -€124 | -14.1% |
| Other operating charges | 640/8 | €757 | €1,674 | +€917 | +121% |
| Gross operating margin | 9900 | €37,223 | €50,156 | +€12,933 | +34.7% |
| Operating profit (loss) | 9901 | €35,449 | €46,303 | +€10,854 | +30.6% |
| Financial income | 75/76B | €172 | €2,779 | +€2,607 | +1,515% |
| Recurring financial income | 75 | €172 | €2,779 | +€2,607 | +1,515% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,380 | €2,472 | -€908 | -26.9% |
| Recurring financial charges | 65 | €3,380 | €2,472 | -€908 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €32,240 | €46,610 | +€14,370 | +44.6% |
| Income taxes | 67/77 | €12,325 | €16,930 | +€4,605 | +37.4% |
| Profit (loss) for the period | 9904 | €19,915 | €29,680 | +€9,765 | +49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,915 | €29,680 | +€9,765 | +49.0% |
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 28 October 2026 via checked.be.