STV Pool Projects: 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.
STV Pool Projects
Largest movements
- Receivables within one year -€32,148
down €32,148 (-95.8%), from €33,545 to €1,397
of which Other amounts receivable: -€19,971
- Cash +€18,119
up €18,119 (+39.5%), from €45,888 to €64,007
mainly Receivables within one year (+€32,148) and Depreciation (+€10,587)
- Tangible fixed assets -€9,487
down €9,487 (-35.7%), from €26,609 to €17,122
of which Leasing and similar rights: -€9,361
- Stocks and contracts -€5,299
down €5,299 (-34.2%), from €15,515 to €10,216
- Other debts -€26,958
down €26,958 (-77.0%), from €35,000 to €8,042
- Debts after one year -€7,783
down €7,783 (-68.0%), from €11,440 to €3,657
- Profit (loss) carried forward +€3,707
up €3,707 (+34.9%), from €10,620 to €14,328
- Trade debts +€3,616
up €3,616 (+9.2%), from €39,291 to €42,907
- Tax, wage and social debts -€3,130
down €3,130 (-27.4%), from €11,412 to €8,282
of which Remuneration and social security: -€2,061
- Staff costs -€16,729
down €16,729 (-34.3%), from €48,818 to €32,089
- Write-downs +€8,381
new in 2025: €8,381
- Gross operating margin -€5,053
down €5,053 (-8.0%), from €63,196 to €58,143
- Taxes -€641
down €641, from €81 to -€560
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 | €153,607 | €123,259 | -€30,348 | -19.8% |
| Fixed assets | 21/28 | €28,107 | €17,122 | -€10,986 | -39.1% |
| Tangible fixed assets | 22/27 | €26,609 | €17,122 | -€9,487 | -35.7% |
| Plant, machinery and equipment | 23 | €3,280 | €3,852 | +€572 | +17.4% |
| Furniture and vehicles | 24 | €2,606 | €1,908 | -€698 | -26.8% |
| Leasing and similar rights | 25 | €20,723 | €11,362 | -€9,361 | -45.2% |
| Financial fixed assets | 28 | €1,498 | - | -€1,498 | |
| Current assets | 29/58 | €125,500 | €106,137 | -€19,363 | -15.4% |
| Stocks and contracts in progress | 3 | €15,515 | €10,216 | -€5,299 | -34.2% |
| Stocks | 30/36 | €15,515 | €10,216 | -€5,299 | -34.2% |
| Amounts receivable within one year | 40/41 | €33,545 | €1,397 | -€32,148 | -95.8% |
| Trade receivables | 40 | €13,534 | €1,357 | -€12,177 | -90.0% |
| Other amounts receivable | 41 | €20,011 | €40 | -€19,971 | -99.8% |
| Cash at bank and in hand | 54/58 | €45,888 | €64,007 | +€18,119 | +39.5% |
| Deferred charges and accrued income | 490/1 | €30,552 | €30,518 | -€34 | -0.1% |
| Total equity and liabilities | 10/49 | €153,607 | €123,259 | -€30,348 | -19.8% |
| Equity | 10/15 | €44,880 | €48,588 | +€3,707 | +8.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €21,860 | €21,860 | = | 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% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,620 | €14,328 | +€3,707 | +34.9% |
| Amounts payable | 17/49 | €108,727 | €74,671 | -€34,055 | -31.3% |
| Amounts payable after more than one year | 17 | €11,440 | €3,657 | -€7,783 | -68.0% |
| Financial debts | 170/4 | €11,440 | €3,657 | -€7,783 | -68.0% |
| Amounts payable within one year | 42/48 | €97,286 | €71,014 | -€26,272 | -27.0% |
| Current portion of amounts payable after more than one year | 42 | €7,583 | €7,783 | +€200 | +2.6% |
| Trade debts | 44 | €39,291 | €42,907 | +€3,616 | +9.2% |
| Suppliers | 440/4 | €39,291 | €42,907 | +€3,616 | +9.2% |
| Advances received on contracts in progress | 46 | €4,000 | €4,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,412 | €8,282 | -€3,130 | -27.4% |
| Taxes | 450/3 | €8,679 | €7,610 | -€1,068 | -12.3% |
| Remuneration and social security | 454/9 | €2,734 | €672 | -€2,061 | -75.4% |
| Other amounts payable | 47/48 | €35,000 | €8,042 | -€26,958 | -77.0% |
| Remuneration, social security and pensions | 62 | €48,818 | €32,089 | -€16,729 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,330 | €10,587 | +€258 | +2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,381 | +€8,381 | |
| Other operating charges | 640/8 | €972 | €961 | -€12 | -1.2% |
| Gross operating margin | 9900 | €63,196 | €58,143 | -€5,053 | -8.0% |
| Operating profit (loss) | 9901 | €3,076 | €6,125 | +€3,049 | +99.1% |
| Financial income | 75/76B | €9 | €11 | +€2 | +19.4% |
| Recurring financial income | 75 | €9 | €11 | +€2 | +19.4% |
| Financial charges | 65/66B | €2,457 | €2,989 | +€532 | +21.7% |
| Recurring financial charges | 65 | €2,457 | €2,989 | +€532 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | €629 | €3,147 | +€2,519 | +401% |
| Income taxes | 67/77 | €81 | -€560 | -€641 | |
| Profit (loss) for the period | 9904 | €548 | €3,707 | +€3,159 | +577% |
| Profit (loss) for the period to be appropriated | 9905 | €548 | €3,707 | +€3,159 | +577% |
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 16 October 2026 via checked.be.