STUYVENBERG: 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.
STUYVENBERG
Largest movements
- Tangible fixed assets -€41,469
down €41,469 (-12.7%), from €326,870 to €285,401
of which Land and buildings: -€22,701
- Cash +€15,417
up €15,417 (+100%), from €15,372 to €30,788
mainly Other debts (+€53,144) and Depreciation (+€44,763)
- Receivables within one year +€13,939
up €13,939 (+57.8%), from €24,103 to €38,042
of which Other amounts receivable: +€12,104
- Stocks and contracts -€12,169
down €12,169 (-35.5%), from €34,260 to €22,091
- Deferred charges and accrued income +€9,189
new in 2026: €9,189
- Other debts +€53,144
up €53,144 (+26.2%), from €202,739 to €255,883
- Profit (loss) carried forward -€44,528
down €44,528 (-16,495%), from -€270 to -€44,798
- Current portion of long-term debt -€40,000
down €40,000 (-87.0%), from €46,000 to €6,000
- Trade debts +€11,176
up €11,176 (+329%), from €3,393 to €14,569
- Accrued charges and deferred income +€8,880
new in 2026: €8,880
- Gross operating margin -€67,925
down €67,925 (-35.2%), from €192,835 to €124,910
- Turnover -€45,725
down €45,725 (-11.2%), from €407,743 to €362,018
- Purchases and services +€22,200
up €22,200 (+10.3%), from €214,908 to €237,108
- Staff costs +€21,153
up €21,153 (+21.5%), from €98,578 to €119,731
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €406,688 | €389,446 | -€17,242 | -4.2% |
| Fixed assets | 21/28 | €332,953 | €289,335 | -€43,618 | -13.1% |
| Tangible fixed assets | 22/27 | €326,870 | €285,401 | -€41,469 | -12.7% |
| Land and buildings | 22 | €205,270 | €182,570 | -€22,701 | -11.1% |
| Plant, machinery and equipment | 23 | €78,210 | €63,058 | -€15,152 | -19.4% |
| Furniture and vehicles | 24 | €43,022 | €39,405 | -€3,617 | -8.4% |
| Other tangible fixed assets | 26 | €369 | €369 | = | 0.0% |
| Financial fixed assets | 28 | €6,083 | €3,934 | -€2,148 | -35.3% |
| Current assets | 29/58 | €73,735 | €100,111 | +€26,376 | +35.8% |
| Stocks and contracts in progress | 3 | €34,260 | €22,091 | -€12,169 | -35.5% |
| Stocks | 30/36 | €34,260 | €22,091 | -€12,169 | -35.5% |
| Amounts receivable within one year | 40/41 | €24,103 | €38,042 | +€13,939 | +57.8% |
| Trade receivables | 40 | €4,425 | €6,260 | +€1,835 | +41.5% |
| Other amounts receivable | 41 | €19,678 | €31,783 | +€12,104 | +61.5% |
| Cash at bank and in hand | 54/58 | €15,372 | €30,788 | +€15,417 | +100% |
| Deferred charges and accrued income | 490/1 | - | €9,189 | +€9,189 | |
| Total equity and liabilities | 10/49 | €406,688 | €389,446 | -€17,242 | -4.2% |
| Equity | 10/15 | €130,542 | €86,014 | -€44,528 | -34.1% |
| Contributions | 10/11 | €121,289 | €121,289 | = | 0.0% |
| Contributions outside capital | 11 | €121,289 | €121,289 | = | 0.0% |
| Other | 1109/19 | €121,289 | €121,289 | = | 0.0% |
| Reserves | 13 | €9,522 | €9,522 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,522 | €9,522 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,522 | €9,522 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€270 | -€44,798 | -€44,528 | -16,495% |
| Amounts payable | 17/49 | €276,147 | €303,433 | +€27,286 | +9.9% |
| Amounts payable after more than one year | 17 | €24,000 | €18,000 | -€6,000 | -25.0% |
| Financial debts | 170/4 | €24,000 | €18,000 | -€6,000 | -25.0% |
| Amounts payable within one year | 42/48 | €252,147 | €276,553 | +€24,406 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €46,000 | €6,000 | -€40,000 | -87.0% |
| Trade debts | 44 | €3,393 | €14,569 | +€11,176 | +329% |
| Suppliers | 440/4 | €3,393 | €14,569 | +€11,176 | +329% |
| Taxes, remuneration and social security | 45 | €15 | €101 | +€86 | +574% |
| Taxes | 450/3 | €15 | €101 | +€86 | +574% |
| Other amounts payable | 47/48 | €202,739 | €255,883 | +€53,144 | +26.2% |
| Accrued charges and deferred income | 492/3 | - | €8,880 | +€8,880 | |
| Turnover | 70 | €407,743 | €362,018 | -€45,725 | -11.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €214,908 | €237,108 | +€22,200 | +10.3% |
| Remuneration, social security and pensions | 62 | €98,578 | €119,731 | +€21,153 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,092 | €44,763 | +€2,671 | +6.3% |
| Other operating charges | 640/8 | €2,570 | €1,917 | -€652 | -25.4% |
| Gross operating margin | 9900 | €192,835 | €124,910 | -€67,925 | -35.2% |
| Operating profit (loss) | 9901 | €49,595 | -€41,503 | -€91,097 | |
| Financial income | 75/76B | €21 | €9 | -€11 | -54.9% |
| Recurring financial income | 75 | €21 | €9 | -€11 | -54.9% |
| Financial charges | 65/66B | €3,973 | €2,934 | -€1,039 | -26.2% |
| Recurring financial charges | 65 | €3,973 | €2,934 | -€1,039 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €45,642 | -€44,427 | -€90,070 | |
| Income taxes | 67/77 | €15 | €101 | +€86 | +574% |
| Profit (loss) for the period | 9904 | €45,628 | -€44,528 | -€90,156 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,628 | -€44,528 | -€90,156 |
Source: filed annual accounts (NBB), financial years ended 31 May 2025 and 31 May 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.