STVE: 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.
STVE
Largest movements
- Current investments +€75,000
up €75,000 (+100%), from €75,000 to €150,000
- Receivables within one year -€20,280
down €20,280 (-39.4%), from €51,425 to €31,145
of which Trade receivables: -€17,774
- Cash +€7,451
up €7,451 (+19.2%), from €38,722 to €46,173
mainly Other debts (+€216,604) and Net result for the year (+€80,972)
- Other debts +€216,604
up €216,604 (+119,085%), from €182 to €216,786
- Reserves -€150,734
down €150,734 (-97.1%), from €155,271 to €4,537
- Tax, wage and social debts -€2,309
down €2,309 (-38.7%), from €5,967 to €3,658
of which Remuneration and social security: -€2,500
- Gross operating margin +€23,273
up €23,273 (+28.2%), from €82,581 to €105,853
- Taxes +€5,333
up €5,333 (+30.9%), from €17,264 to €22,597
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 | €166,220 | €228,281 | +€62,061 | +37.3% |
| Current assets | 29/58 | €166,220 | €228,281 | +€62,061 | +37.3% |
| Amounts receivable within one year | 40/41 | €51,425 | €31,145 | -€20,280 | -39.4% |
| Trade receivables | 40 | €43,560 | €25,786 | -€17,774 | -40.8% |
| Other amounts receivable | 41 | €7,865 | €5,359 | -€2,506 | -31.9% |
| Current investments | 50/53 | €75,000 | €150,000 | +€75,000 | +100% |
| Cash at bank and in hand | 54/58 | €38,722 | €46,173 | +€7,451 | +19.2% |
| Deferred charges and accrued income | 490/1 | €1,073 | €963 | -€110 | -10.2% |
| Total equity and liabilities | 10/49 | €166,220 | €228,281 | +€62,061 | +37.3% |
| Equity | 10/15 | €156,271 | €5,537 | -€150,734 | -96.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €155,271 | €4,537 | -€150,734 | -97.1% |
| Distributable reserves | 133 | €155,271 | €4,537 | -€150,734 | -97.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,949 | €222,744 | +€212,795 | +2,139% |
| Amounts payable within one year | 42/48 | €9,949 | €222,744 | +€212,795 | +2,139% |
| Trade debts | 44 | €3,800 | €2,300 | -€1,500 | -39.5% |
| Suppliers | 440/4 | €3,800 | €2,300 | -€1,500 | -39.5% |
| Taxes, remuneration and social security | 45 | €5,967 | €3,658 | -€2,309 | -38.7% |
| Taxes | 450/3 | €3,467 | €3,658 | +€191 | +5.5% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100% |
| Other amounts payable | 47/48 | €182 | €216,786 | +€216,604 | +119,085% |
| Other operating charges | 640/8 | €330 | €650 | +€320 | +97.0% |
| Gross operating margin | 9900 | €82,581 | €105,853 | +€23,273 | +28.2% |
| Operating profit (loss) | 9901 | €82,251 | €105,203 | +€22,953 | +27.9% |
| Financial income | 75/76B | €431 | €302 | -€129 | -30.0% |
| Recurring financial income | 75 | €431 | €302 | -€129 | -30.0% |
| Financial charges | 65/66B | €2,012 | €1,936 | -€76 | -3.8% |
| Recurring financial charges | 65 | €2,012 | €1,936 | -€76 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €80,670 | €103,569 | +€22,900 | +28.4% |
| Income taxes | 67/77 | €17,264 | €22,597 | +€5,333 | +30.9% |
| Profit (loss) for the period | 9904 | €63,406 | €80,972 | +€17,567 | +27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €63,406 | €80,972 | +€17,567 | +27.7% |
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 20 October 2026 via checked.be.