Stuvan: 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.
Stuvan
Largest movements
- Deferred charges and accrued income +€252,520
new in 2025: €252,520
- Stocks and contracts -€214,577
down €214,577 (-54.8%), from €391,717 to €177,139
- Cash +€13,498
up €13,498 (+624.3%), from €2,162 to €15,661
mainly Stocks and contracts (+€214,577) and Current portion of long-term debt (+€25,500)
- Current portion of long-term debt +€25,500
up €25,500 (+7.1%), from €358,500 to €384,000
- Profit (loss) carried forward +€24,288
up €24,288, from -€9,927 to €14,362
- Gross operating margin +€82,376
up €82,376, from -€1,947 to €80,428
- Other operating charges +€25,198
up €25,198 (+8779.8%), from €287 to €25,485
- Financial charges +€19,557
up €19,557 (+267.9%), from €7,300 to €26,857
- Taxes +€3,590
new in 2025: €3,590
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 | €665,871 | €719,163 | +€53,292 | +8.0% |
| Formation expenses | 20 | €646 | €438 | -€208 | -32.2% |
| Current assets | 29/58 | €665,225 | €718,725 | +€53,500 | +8.0% |
| Stocks and contracts in progress | 3 | €391,717 | €177,139 | -€214,577 | -54.8% |
| Stocks | 30/36 | €391,717 | €177,139 | -€214,577 | -54.8% |
| Amounts receivable within one year | 40/41 | €271,346 | €273,405 | +€2,059 | +0.8% |
| Trade receivables | 40 | €3,170 | €25,198 | +€22,028 | +694.9% |
| Other amounts receivable | 41 | €268,176 | €248,207 | -€19,969 | -7.4% |
| Cash at bank and in hand | 54/58 | €2,162 | €15,661 | +€13,498 | +624.3% |
| Deferred charges and accrued income | 490/1 | - | €252,520 | +€252,520 | |
| Total equity and liabilities | 10/49 | €665,871 | €719,163 | +€53,292 | +8.0% |
| Equity | 10/15 | -€7,927 | €16,362 | +€24,288 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,927 | €14,362 | +€24,288 | |
| Amounts payable | 17/49 | €673,798 | €702,802 | +€29,004 | +4.3% |
| Amounts payable within one year | 42/48 | €673,798 | €697,834 | +€24,036 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €358,500 | €384,000 | +€25,500 | +7.1% |
| Financial debts | 43 | €16 | €0 | -€16 | -100.0% |
| Credit institutions | 430/8 | €16 | €0 | -€16 | -100.0% |
| Trade debts | 44 | €3,678 | €130 | -€3,548 | -96.5% |
| Suppliers | 440/4 | €3,678 | €130 | -€3,548 | -96.5% |
| Taxes, remuneration and social security | 45 | €2,053 | €4,141 | +€2,088 | +101.7% |
| Taxes | 450/3 | €2,053 | €4,141 | +€2,088 | +101.7% |
| Other amounts payable | 47/48 | €309,550 | €309,563 | +€13 | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €4,968 | +€4,968 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €393 | €208 | -€185 | -47.1% |
| Other operating charges | 640/8 | €287 | €25,485 | +€25,198 | +8779.8% |
| Gross operating margin | 9900 | -€1,947 | €80,428 | +€82,376 | |
| Operating profit (loss) | 9901 | -€2,627 | €54,736 | +€57,363 | |
| Financial charges | 65/66B | €7,300 | €26,857 | +€19,557 | +267.9% |
| Recurring financial charges | 65 | €7,300 | €26,857 | +€19,557 | +267.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,927 | €27,879 | +€37,806 | |
| Income taxes | 67/77 | - | €3,590 | +€3,590 | |
| Profit (loss) for the period | 9904 | -€9,927 | €24,288 | +€34,215 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,927 | €24,288 | +€34,215 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.