STUYVER: 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.
STUYVER
Largest movements
- Tangible fixed assets +€23,253
up €23,253 (+279.6%), from €8,318 to €31,570
of which Furniture and vehicles: +€31,570
- Receivables after one year -€14,925
down €14,925 (-20.9%), from €71,547 to €56,622
- Profit (loss) carried forward +€14,903
up €14,903, from -€13,458 to €1,445
- Debts after one year -€7,148
down €7,148 (-8.6%), from €83,147 to €75,999
- Trade debts -€3,336
down €3,336 (-96.0%), from €3,476 to €140
- Current portion of long-term debt +€3,178
up €3,178 (+20.1%), from €15,802 to €18,979
- Tax, wage and social debts +€1,324
up €1,324 (+365.9%), from €362 to €1,685
- Gross operating margin +€22,959
up €22,959 (+157.5%), from €14,575 to €37,534
- Depreciation +€1,745
up €1,745 (+12.1%), from €14,411 to €16,156
- Taxes +€1,320
up €1,320 (+722.1%), from €183 to €1,503
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 | €112,932 | €122,016 | +€9,085 | +8.0% |
| Fixed assets | 21/28 | €8,318 | €31,570 | +€23,253 | +279.6% |
| Tangible fixed assets | 22/27 | €8,318 | €31,570 | +€23,253 | +279.6% |
| Land and buildings | 22 | €8,273 | - | -€8,273 | |
| Plant, machinery and equipment | 23 | €45 | - | -€45 | |
| Furniture and vehicles | 24 | - | €31,570 | +€31,570 | |
| Current assets | 29/58 | €104,614 | €90,446 | -€14,168 | -13.5% |
| Amounts receivable after more than one year | 29 | €71,547 | €56,622 | -€14,925 | -20.9% |
| Other amounts receivable | 291 | €71,547 | €56,622 | -€14,925 | -20.9% |
| Cash at bank and in hand | 54/58 | €624 | €247 | -€377 | -60.5% |
| Deferred charges and accrued income | 490/1 | €32,443 | €33,577 | +€1,134 | +3.5% |
| Total equity and liabilities | 10/49 | €112,932 | €122,016 | +€9,085 | +8.0% |
| Equity | 10/15 | €7,002 | €21,905 | +€14,903 | +212.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,458 | €1,445 | +€14,903 | |
| Amounts payable | 17/49 | €105,930 | €100,111 | -€5,819 | -5.5% |
| Amounts payable after more than one year | 17 | €83,147 | €75,999 | -€7,148 | -8.6% |
| Financial debts | 170/4 | €83,147 | €75,999 | -€7,148 | -8.6% |
| Amounts payable within one year | 42/48 | €22,783 | €24,112 | +€1,329 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €15,802 | €18,979 | +€3,178 | +20.1% |
| Trade debts | 44 | €3,476 | €140 | -€3,336 | -96.0% |
| Suppliers | 440/4 | €3,476 | €140 | -€3,336 | -96.0% |
| Taxes, remuneration and social security | 45 | €362 | €1,685 | +€1,324 | +365.9% |
| Taxes | 450/3 | €362 | €1,685 | +€1,324 | +365.9% |
| Other amounts payable | 47/48 | €3,144 | €3,308 | +€164 | +5.2% |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,411 | €16,156 | +€1,745 | +12.1% |
| Other operating charges | 640/8 | €2,022 | €1,890 | -€132 | -6.5% |
| Gross operating margin | 9900 | €14,575 | €37,534 | +€22,959 | +157.5% |
| Operating profit (loss) | 9901 | -€1,859 | €19,488 | +€21,346 | |
| Financial charges | 65/66B | €2,809 | €3,082 | +€273 | +9.7% |
| Recurring financial charges | 65 | €2,809 | €3,082 | +€273 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,667 | €16,406 | +€21,073 | |
| Income taxes | 67/77 | €183 | €1,503 | +€1,320 | +722.1% |
| Profit (loss) for the period | 9904 | -€4,850 | €14,903 | +€19,753 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,850 | €14,903 | +€19,753 |
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.