STx: 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.
STx
Largest movements
- Tangible fixed assets -€33,262
down €33,262 (-1.6%), from €2.1m to €2.1m
of which Leasing and similar rights: -€34,219
- Debts after one year -€153,750
down €153,750 (-9.7%), from €1.6m to €1.4m
of which Financial debts: -€153,750
- Profit (loss) carried forward -€153,460
down €153,460 (-100.0%), from €153,460 to €0
- Investment grants +€149,682
new in 2025: €149,682
- Other debts +€130,978
up €130,978 (+137.4%), from €95,298 to €226,277
- Gross operating margin -€97,780
down €97,780 (-24.0%), from €408,011 to €310,230
- Taxes -€22,891
down €22,891 (-63.3%), from €36,174 to €13,282
- Depreciation +€16,235
up €16,235 (+14.9%), from €108,967 to €125,201
- Financial charges -€6,743
down €6,743 (-10.2%), from €66,129 to €59,386
- Financial income -€5,947
down €5,947 (-20.4%), from €29,107 to €23,160
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 | €2,513,317 | €2,477,087 | -€36,230 | -1.4% |
| Fixed assets | 21/28 | €2,099,119 | €2,065,857 | -€33,262 | -1.6% |
| Tangible fixed assets | 22/27 | €2,084,119 | €2,050,857 | -€33,262 | -1.6% |
| Land and buildings | 22 | €1,957,939 | €1,961,655 | +€3,716 | +0.2% |
| Plant, machinery and equipment | 23 | €1,015 | €781 | -€234 | -23.1% |
| Furniture and vehicles | 24 | €10,676 | €8,151 | -€2,525 | -23.7% |
| Leasing and similar rights | 25 | €114,489 | €80,270 | -€34,219 | -29.9% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €414,198 | €411,230 | -€2,968 | -0.7% |
| Amounts receivable within one year | 40/41 | €211,092 | €215,333 | +€4,240 | +2.0% |
| Trade receivables | 40 | €36,315 | €3,049 | -€33,266 | -91.6% |
| Other amounts receivable | 41 | €174,777 | €212,284 | +€37,507 | +21.5% |
| Cash at bank and in hand | 54/58 | €199,024 | €192,714 | -€6,310 | -3.2% |
| Deferred charges and accrued income | 490/1 | €4,082 | €3,183 | -€899 | -22.0% |
| Total equity and liabilities | 10/49 | €2,513,317 | €2,477,087 | -€36,230 | -1.4% |
| Equity | 10/15 | €580,254 | €576,476 | -€3,778 | -0.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €423,794 | €423,794 | = | 0.0% |
| Distributable reserves | 133 | €423,794 | €423,794 | = | 0.0% |
| Profit (loss) carried forward | 14 | €153,460 | €0 | -€153,460 | -100.0% |
| Investment grants | 15 | - | €149,682 | +€149,682 | |
| Amounts payable | 17/49 | €1,933,063 | €1,900,611 | -€32,452 | -1.7% |
| Amounts payable after more than one year | 17 | €1,588,472 | €1,434,722 | -€153,750 | -9.7% |
| Financial debts | 170/4 | €1,588,472 | €1,434,722 | -€153,750 | -9.7% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €337,871 | €458,864 | +€120,993 | +35.8% |
| Current portion of amounts payable after more than one year | 42 | €148,857 | €153,750 | +€4,892 | +3.3% |
| Trade debts | 44 | €25,156 | €9,534 | -€15,622 | -62.1% |
| Suppliers | 440/4 | €25,156 | €9,534 | -€15,622 | -62.1% |
| Taxes, remuneration and social security | 45 | €68,559 | €69,304 | +€745 | +1.1% |
| Taxes | 450/3 | €62,072 | €58,327 | -€3,744 | -6.0% |
| Remuneration and social security | 454/9 | €6,488 | €10,977 | +€4,489 | +69.2% |
| Other amounts payable | 47/48 | €95,298 | €226,277 | +€130,978 | +137.4% |
| Accrued charges and deferred income | 492/3 | €6,720 | €7,025 | +€305 | +4.5% |
| Remuneration, social security and pensions | 62 | €58,216 | €57,270 | -€946 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,967 | €125,201 | +€16,235 | +14.9% |
| Other operating charges | 640/8 | €4,172 | €4,798 | +€625 | +15.0% |
| Gross operating margin | 9900 | €408,011 | €310,230 | -€97,780 | -24.0% |
| Operating profit (loss) | 9901 | €236,655 | €122,961 | -€113,694 | -48.0% |
| Financial income | 75/76B | €29,107 | €23,160 | -€5,947 | -20.4% |
| Recurring financial income | 75 | €29,107 | €23,160 | -€5,947 | -20.4% |
| Financial charges | 65/66B | €66,129 | €59,386 | -€6,743 | -10.2% |
| Recurring financial charges | 65 | €66,129 | €59,386 | -€6,743 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €199,634 | €86,736 | -€112,898 | -56.6% |
| Income taxes | 67/77 | €36,174 | €13,282 | -€22,891 | -63.3% |
| Profit (loss) for the period | 9904 | €163,460 | €73,454 | -€90,006 | -55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €163,460 | €73,454 | -€90,006 | -55.1% |
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 6 October 2026 via checked.be.