Stûv: 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.
What changed
Stûv
NACE 43.223, Specialised construction activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.1m
2024 · -€3,581-€1.1m
Equity
€11.8m
2024 · €12.9m-€1.1m
Cash
€220,437
2024 · €1.0m-€811,482
Balance sheet total
€16.2m
2024 · €16.7m-€497,443
Largest movements
Assets
- Receivables within one year +€1.1m
up €1.1m (+20.4%), from €5.6m to €6.7m
of which Trade receivables: +€1.5m
- Tangible fixed assets -€998,300
down €998,300 (-26.4%), from €3.8m to €2.8m
of which Assets under construction and advance payments: -€667,465
- Intangible fixed assets +€937,799
up €937,799 (+360.6%), from €260,038 to €1.2m
- Cash -€811,482
down €811,482 (-78.6%), from €1.0m to €220,437
mainly Receivables within one year (-€1.1m) and Net result for the year (-€1.1m)
- Stocks and contracts -€636,853
down €636,853 (-12.3%), from €5.2m to €4.5m
Equity and liabilities
- Profit (loss) carried forward -€1.1m
down €1.1m (-15.9%), from €6.7m to €5.6m
- Current portion of long-term debt +€353,294
up €353,294 (+169.8%), from €208,074 to €561,368
- Short-term financial debts +€220,000
new in 2025: €220,000
- Trade debts +€198,529
up €198,529 (+9.1%), from €2.2m to €2.4m
- Debts after one year -€178,953
down €178,953 (-69.6%), from €257,097 to €78,143
Income statement
- Turnover -€905,388
down €905,388 (-3.7%), from €24.7m to €23.8m
- Goods and materials -€874,586
down €874,586 (-6.7%), from €13.1m to €12.2m
of which Purchases: -€951,876
- Services and other goods +€516,519
up €516,519 (+8.0%), from €6.5m to €7.0m
- Other operating income +€283,402
up €283,402 (+41.4%), from €684,653 to €968,055
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.
Result 2024
-€3,581
Turnover
-€905,388
Other operating income
+€283,402
Goods and materials
+€874,586
Services and other goods
-€516,519
Staff costs
+€220,680
Depreciation
-€209,571
Write-downs
+€22,076
Provisions
-€102,677
Other operating charges
-€1,704
Other operating items
-€663,867
Financial income
-€25,689
Financial charges
-€31,187
Taxes
+€220
Result 2025
-€1.1m
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.
From operations
-€441,785
Investment
-€762,940
Financing
+€393,243
Cash 2024
€1.0m
From operations (derived)
-€441,785
Net result for the year
-€1.1m
Depreciation
+€823,441
Receivables after one year
+€100,000
Stocks and contracts
+€636,853
Receivables within one year
-€1.1m
Deferred charges and accrued income
+€20,208
Provisions
-€10,119
Trade debts
+€198,529
Tax, wage and social debts
-€41,346
Other debts
+€22,088
Accrued charges and deferred income
-€620
Investment (derived)
-€762,940
Investment in fixed assets (net)
-€762,940
Financing
+€393,243
Debts after one year
-€178,953
Current portion of long-term debt
+€353,294
Short-term financial debts
+€220,000
Contributions, distributions and other
-€1,098
Cash 2025
€220,437
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,742,623 | €16,245,180 | -€497,443 | -3.0% |
| Fixed assets | 21/28 | €4,046,989 | €3,986,488 | -€60,500 | -1.5% |
| Intangible fixed assets | 21 | €260,038 | €1,197,837 | +€937,799 | +360.6% |
| Tangible fixed assets | 22/27 | €3,786,951 | €2,788,651 | -€998,300 | -26.4% |
| Plant, machinery and equipment | 23 | €2,348,475 | €2,078,692 | -€269,783 | -11.5% |
| Furniture and vehicles | 24 | €338,851 | €299,213 | -€39,638 | -11.7% |
| Leasing and similar rights | 25 | €139,976 | €118,563 | -€21,413 | -15.3% |
| Assets under construction and advance payments | 27 | €959,648 | €292,183 | -€667,465 | -69.6% |
| Current assets | 29/58 | €12,695,634 | €12,258,691 | -€436,943 | -3.4% |
| Amounts receivable after more than one year | 29 | €700,000 | €600,000 | -€100,000 | -14.3% |
| Other amounts receivable | 291 | €700,000 | €600,000 | -€100,000 | -14.3% |
| Stocks and contracts in progress | 3 | €5,166,741 | €4,529,889 | -€636,853 | -12.3% |
| Stocks | 30/36 | €5,166,741 | €4,529,889 | -€636,853 | -12.3% |
| Raw materials and consumables | 30/31 | €3,009,702 | €2,718,705 | -€290,997 | -9.7% |
| Work in progress | 32 | €153,038 | €90,992 | -€62,046 | -40.5% |
| Finished goods | 33 | €1,883,359 | €1,586,254 | -€297,105 | -15.8% |
| Goods purchased for resale | 34 | €120,642 | €133,938 | +€13,296 | +11.0% |
| Amounts receivable within one year | 40/41 | €5,552,918 | €6,684,518 | +€1.1m | +20.4% |
| Trade receivables | 40 | €4,818,877 | €6,322,431 | +€1.5m | +31.2% |
| Other amounts receivable | 41 | €734,041 | €362,086 | -€371,955 | -50.7% |
| Cash at bank and in hand | 54/58 | €1,031,918 | €220,437 | -€811,482 | -78.6% |
| Deferred charges and accrued income | 490/1 | €244,056 | €223,849 | -€20,208 | -8.3% |
| Total equity and liabilities | 10/49 | €16,742,623 | €16,245,180 | -€497,443 | -3.0% |
| Equity | 10/15 | €12,898,141 | €11,837,824 | -€1.1m | -8.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,143,731 | €6,143,731 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,852,275 | €1,684,000 | -€1.2m | -41.0% |
| Distributable reserves | 133 | €3,285,256 | €4,453,531 | +€1.2m | +35.6% |
| Profit (loss) carried forward | 14 | €6,680,166 | €5,620,948 | -€1.1m | -15.9% |
| Investment grants | 15 | €12,243 | €11,145 | -€1,098 | -9.0% |
| Provisions and deferred taxes | 16 | €73,090 | €62,971 | -€10,119 | -13.8% |
| Provisions for liabilities and charges | 160/5 | €73,090 | €62,971 | -€10,119 | -13.8% |
| Other liabilities and charges | 164/5 | €73,090 | €62,971 | -€10,119 | -13.8% |
| Amounts payable | 17/49 | €3,771,392 | €4,344,384 | +€572,992 | +15.2% |
| Amounts payable after more than one year | 17 | €257,097 | €78,143 | -€178,953 | -69.6% |
| Financial debts | 170/4 | €257,097 | €78,143 | -€178,953 | -69.6% |
| Leasing and similar obligations | 172 | €23,684 | - | -€23,684 | |
| Credit institutions | 173 | €233,413 | €78,143 | -€155,269 | -66.5% |
| Amounts payable within one year | 42/48 | €3,500,051 | €4,252,616 | +€752,565 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €208,074 | €561,368 | +€353,294 | +169.8% |
| Financial debts | 43 | - | €220,000 | +€220,000 | |
| Credit institutions | 430/8 | - | €220,000 | +€220,000 | |
| Trade debts | 44 | €2,190,253 | €2,388,782 | +€198,529 | +9.1% |
| Suppliers | 440/4 | €2,190,253 | €2,388,782 | +€198,529 | +9.1% |
| Taxes, remuneration and social security | 45 | €811,477 | €770,131 | -€41,346 | -5.1% |
| Taxes | 450/3 | €131,702 | €104,165 | -€27,538 | -20.9% |
| Remuneration and social security | 454/9 | €679,775 | €665,966 | -€13,808 | -2.0% |
| Other amounts payable | 47/48 | €290,247 | €312,334 | +€22,088 | +7.6% |
| Accrued charges and deferred income | 492/3 | €14,244 | €13,625 | -€620 | -4.4% |
| Operating income | 70/76A | €25,799,341 | €24,361,513 | -€1.4m | -5.6% |
| Turnover | 70 | €24,691,654 | €23,786,266 | -€905,388 | -3.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €407,721 | -€393,530 | -€801,251 | |
| Other operating income | 74 | €684,653 | €968,055 | +€283,402 | +41.4% |
| Non-recurring operating income | 76A | €15,314 | €722 | -€14,592 | -95.3% |
| Operating charges | 60/66A | €25,800,052 | €25,361,204 | -€438,848 | -1.7% |
| Goods for resale, raw materials and consumables | 60 | €13,113,969 | €12,239,384 | -€874,586 | -6.7% |
| Purchases | 600/8 | €12,929,121 | €11,977,245 | -€951,876 | -7.4% |
| Change in stocks: decrease (increase) | 609 | €184,848 | €262,139 | +€77,291 | +41.8% |
| Services and other goods | 61 | €6,470,659 | €6,987,178 | +€516,519 | +8.0% |
| Remuneration, social security and pensions | 62 | €5,462,308 | €5,241,628 | -€220,680 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €613,870 | €823,441 | +€209,571 | +34.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,523 | -€6,553 | -€22,076 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€112,795 | -€10,119 | +€102,677 | +91.0% |
| Other operating charges | 640/8 | €84,542 | €86,246 | +€1,704 | +2.0% |
| Non-recurring operating charges | 66A | €151,976 | - | -€151,976 | |
| Operating profit (loss) | 9901 | -€710 | -€999,691 | -€998,981 | -140669.9% |
| Financial income | 75/76B | €97,869 | €72,179 | -€25,689 | -26.2% |
| Recurring financial income | 75 | €97,869 | €72,179 | -€25,689 | -26.2% |
| Income from current assets | 751 | €70,950 | €35,104 | -€35,846 | -50.5% |
| Other financial income | 752/9 | €26,919 | €37,075 | +€10,157 | +37.7% |
| Financial charges | 65/66B | €94,030 | €125,217 | +€31,187 | +33.2% |
| Recurring financial charges | 65 | €94,030 | €125,217 | +€31,187 | +33.2% |
| Debt charges | 650 | €62,291 | €76,928 | +€14,637 | +23.5% |
| Other financial charges | 652/9 | €31,739 | €48,289 | +€16,550 | +52.1% |
| Profit (loss) for the period before taxes | 9903 | €3,128 | -€1,052,729 | -€1.1m | |
| Income taxes | 67/77 | €6,709 | €6,489 | -€220 | -3.3% |
| Taxes | 670/3 | €6,709 | €6,489 | -€220 | -3.3% |
| Profit (loss) for the period | 9904 | -€3,581 | -€1,059,218 | -€1.1m | -29479.6% |
| Transfer from tax-exempt reserves | 789 | - | €1,168,275 | +€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,581 | €109,057 | +€112,638 |
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 3 October 2026 via checked.be.