STYLMAR: 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.
STYLMAR
Largest movements
- Cash -€99,485
down €99,485 (-52.5%), from €189,465 to €89,981
mainly Net result for the year (-€197,167) and Receivables within one year (-€45,217)
- Stocks and contracts -€59,609
down €59,609 (-4.8%), from €1.2m to €1.2m
of which Stocks: -€183,843
- Receivables within one year +€45,217
up €45,217 (+42.9%), from €105,406 to €150,623
of which Trade receivables: +€53,300
- Profit (loss) carried forward -€197,167
down €197,167 (-46.0%), from -€429,059 to -€626,225
- Other debts +€46,847
up €46,847 (+799%), from €5,863 to €52,710
- Trade debts +€35,166
up €35,166 (+14.2%), from €247,671 to €282,837
- Short-term financial debts +€16,807
up €16,807 (+21.0%), from €80,000 to €96,807
- Gross operating margin -€449,266
down €449,266 (-32.3%), from €1.4m to €942,348
- Staff costs -€253,678
down €253,678 (-18.4%), from €1.4m to €1.1m
- Write-downs -€44,660
down €44,660 (-37,631%), from -€119 to -€44,779
- Other operating charges +€44,349
up €44,349 (+329%), from €13,471 to €57,819
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 | €1,585,702 | €1,477,040 | -€108,662 | -6.9% |
| Fixed assets | 21/28 | €5,981 | €1,484 | -€4,497 | -75.2% |
| Tangible fixed assets | 22/27 | €5,211 | €714 | -€4,497 | -86.3% |
| Plant, machinery and equipment | 23 | €3,058 | €41 | -€3,017 | -98.7% |
| Furniture and vehicles | 24 | €2,154 | €674 | -€1,480 | -68.7% |
| Financial fixed assets | 28 | €770 | €770 | = | 0.0% |
| Current assets | 29/58 | €1,579,721 | €1,475,556 | -€104,165 | -6.6% |
| Stocks and contracts in progress | 3 | €1,239,990 | €1,180,381 | -€59,609 | -4.8% |
| Stocks | 30/36 | €1,045,267 | €861,424 | -€183,843 | -17.6% |
| Contracts in progress | 37 | €194,723 | €318,957 | +€124,234 | +63.8% |
| Amounts receivable within one year | 40/41 | €105,406 | €150,623 | +€45,217 | +42.9% |
| Trade receivables | 40 | €88,002 | €141,302 | +€53,300 | +60.6% |
| Other amounts receivable | 41 | €17,404 | €9,321 | -€8,083 | -46.4% |
| Cash at bank and in hand | 54/58 | €189,465 | €89,981 | -€99,485 | -52.5% |
| Deferred charges and accrued income | 490/1 | €44,860 | €54,572 | +€9,712 | +21.6% |
| Total equity and liabilities | 10/49 | €1,585,702 | €1,477,040 | -€108,662 | -6.9% |
| Equity | 10/15 | €1,126,894 | €929,728 | -€197,167 | -17.5% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €305,953 | €305,953 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,700 | €10,700 | = | 0.0% |
| Legal reserve | 130 | €10,700 | €10,700 | = | 0.0% |
| Distributable reserves | 133 | €295,253 | €295,253 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€429,059 | -€626,225 | -€197,167 | -46.0% |
| Amounts payable | 17/49 | €458,808 | €547,312 | +€88,505 | +19.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €458,808 | €547,312 | +€88,505 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €1,692 | €0 | -€1,692 | -100% |
| Financial debts | 43 | €80,000 | €96,807 | +€16,807 | +21.0% |
| Credit institutions | 430/8 | €80,000 | €96,807 | +€16,807 | +21.0% |
| Trade debts | 44 | €247,671 | €282,837 | +€35,166 | +14.2% |
| Suppliers | 440/4 | €247,671 | €282,837 | +€35,166 | +14.2% |
| Taxes, remuneration and social security | 45 | €123,581 | €114,959 | -€8,622 | -7.0% |
| Taxes | 450/3 | €5,245 | €110 | -€5,135 | -97.9% |
| Remuneration and social security | 454/9 | €118,336 | €114,848 | -€3,488 | -2.9% |
| Other amounts payable | 47/48 | €5,863 | €52,710 | +€46,847 | +799% |
| Remuneration, social security and pensions | 62 | €1,377,030 | €1,123,352 | -€253,678 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,559 | €4,497 | -€1,062 | -19.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€119 | -€44,779 | -€44,660 | -37,631% |
| Other operating charges | 640/8 | €13,471 | €57,819 | +€44,349 | +329% |
| Non-recurring operating charges | 66A | - | €3,122 | +€3,122 | |
| Gross operating margin | 9900 | €1,391,615 | €942,348 | -€449,266 | -32.3% |
| Operating profit (loss) | 9901 | -€4,326 | -€201,662 | -€197,336 | -4,561% |
| Financial income | 75/76B | €15,426 | €9,045 | -€6,381 | -41.4% |
| Recurring financial income | 75 | €13,889 | €9,045 | -€4,844 | -34.9% |
| Non-recurring financial income | 76B | €1,537 | €0 | -€1,537 | -100% |
| Financial charges | 65/66B | €5,713 | €4,550 | -€1,164 | -20.4% |
| Recurring financial charges | 65 | €5,713 | €4,550 | -€1,164 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €5,386 | -€197,166 | -€202,553 | |
| Income taxes | 67/77 | €0 | €0 | +€0 | +57.1% |
| Profit (loss) for the period | 9904 | €5,386 | -€197,167 | -€202,553 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,386 | -€197,167 | -€202,553 |
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 13 October 2026 via checked.be.