STW-electrical: 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.
STW-electrical
Largest movements
- Tangible fixed assets +€11,624
up €11,624 (+312.6%), from €3,718 to €15,342
of which Furniture and vehicles: +€9,178
- Receivables within one year -€2,720
down €2,720 (-19.5%), from €13,949 to €11,230
of which Other amounts receivable: -€5,121
- Cash +€1,825
up €1,825 (+4.7%), from €39,133 to €40,958
mainly Other debts (+€46,331) and Net result for the year (+€15,538)
- Deferred charges and accrued income +€1,239
up €1,239 (+598.5%), from €207 to €1,446
- Reserves -€47,546
down €47,546 (-98.9%), from €48,084 to €538
- Other debts +€46,331
new in 2025: €46,331
- Tax, wage and social debts +€8,068
up €8,068 (+209.0%), from €3,861 to €11,929
- Debts after one year +€4,370
new in 2025: €4,370
- Current portion of long-term debt +€2,166
new in 2025: €2,166
- Gross operating margin -€8,582
down €8,582 (-23.4%), from €36,619 to €28,037
- Taxes -€4,392
down €4,392 (-42.8%), from €10,252 to €5,859
- Depreciation +€1,429
up €1,429 (+87.2%), from €1,639 to €3,068
- Financial charges +€1,150
up €1,150 (+94.5%), from €1,217 to €2,367
- Other operating charges +€1,008
up €1,008 (+352.5%), from €286 to €1,294
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 | €57,008 | €68,976 | +€11,968 | +21.0% |
| Fixed assets | 21/28 | €3,718 | €15,342 | +€11,624 | +312.6% |
| Tangible fixed assets | 22/27 | €3,718 | €15,342 | +€11,624 | +312.6% |
| Plant, machinery and equipment | 23 | €1,282 | €3,727 | +€2,446 | +190.8% |
| Furniture and vehicles | 24 | €2,437 | €11,615 | +€9,178 | +376.6% |
| Current assets | 29/58 | €53,289 | €53,634 | +€344 | +0.6% |
| Amounts receivable within one year | 40/41 | €13,949 | €11,230 | -€2,720 | -19.5% |
| Trade receivables | 40 | €8,828 | €11,230 | +€2,401 | +27.2% |
| Other amounts receivable | 41 | €5,121 | - | -€5,121 | |
| Cash at bank and in hand | 54/58 | €39,133 | €40,958 | +€1,825 | +4.7% |
| Deferred charges and accrued income | 490/1 | €207 | €1,446 | +€1,239 | +598.5% |
| Total equity and liabilities | 10/49 | €57,008 | €68,976 | +€11,968 | +21.0% |
| Equity | 10/15 | €50,584 | €3,038 | -€47,546 | -94.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €48,084 | €538 | -€47,546 | -98.9% |
| Distributable reserves | 133 | €48,084 | €538 | -€47,546 | -98.9% |
| Amounts payable | 17/49 | €6,423 | €65,938 | +€59,514 | +926.5% |
| Amounts payable after more than one year | 17 | - | €4,370 | +€4,370 | |
| Financial debts | 170/4 | - | €4,370 | +€4,370 | |
| Amounts payable within one year | 42/48 | €6,423 | €61,567 | +€55,144 | +858.5% |
| Current portion of amounts payable after more than one year | 42 | - | €2,166 | +€2,166 | |
| Trade debts | 44 | €2,562 | €1,140 | -€1,422 | -55.5% |
| Suppliers | 440/4 | €2,562 | €1,140 | -€1,422 | -55.5% |
| Taxes, remuneration and social security | 45 | €3,861 | €11,929 | +€8,068 | +209.0% |
| Taxes | 450/3 | €3,861 | €11,929 | +€8,068 | +209.0% |
| Other amounts payable | 47/48 | - | €46,331 | +€46,331 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,639 | €3,068 | +€1,429 | +87.2% |
| Other operating charges | 640/8 | €286 | €1,294 | +€1,008 | +352.5% |
| Gross operating margin | 9900 | €36,619 | €28,037 | -€8,582 | -23.4% |
| Operating profit (loss) | 9901 | €34,694 | €23,675 | -€11,019 | -31.8% |
| Financial income | 75/76B | €348 | €90 | -€258 | -74.2% |
| Recurring financial income | 75 | €348 | €90 | -€258 | -74.2% |
| Financial charges | 65/66B | €1,217 | €2,367 | +€1,150 | +94.5% |
| Recurring financial charges | 65 | €1,217 | €2,367 | +€1,150 | +94.5% |
| Profit (loss) for the period before taxes | 9903 | €33,825 | €21,398 | -€12,427 | -36.7% |
| Income taxes | 67/77 | €10,252 | €5,859 | -€4,392 | -42.8% |
| Profit (loss) for the period | 9904 | €23,573 | €15,538 | -€8,035 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,573 | €15,538 | -€8,035 | -34.1% |
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 12 October 2026 via checked.be.