IMMO STELO: 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.
IMMO STELO
Largest movements
- Tangible fixed assets -€30,048
down €30,048 (-3.2%), from €953,613 to €923,566
of which Land and buildings: -€27,929
- Cash +€19,799
up €19,799 (+44.0%), from €45,007 to €64,807
mainly Other debts (+€51,274) and Depreciation (+€30,048)
- Debts after one year -€61,996
down €61,996 (-9.4%), from €662,866 to €600,870
- Other debts +€51,274
up €51,274 (+34.2%), from €150,054 to €201,329
- Financial charges +€18,212
up €18,212 (+36.8%), from €49,479 to €67,691
- Gross operating margin +€3,144
up €3,144 (+3.0%), from €104,249 to €107,393
- Other operating charges -€1,241
down €1,241 (-13.6%), from €9,155 to €7,914
- Taxes +€1,103
up €1,103 (+51.3%), from €2,149 to €3,253
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 | €1,027,739 | €1,021,408 | -€6,332 | -0.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €953,613 | €923,566 | -€30,048 | -3.2% |
| Tangible fixed assets | 22/27 | €953,613 | €923,566 | -€30,048 | -3.2% |
| Land and buildings | 22 | €943,640 | €915,712 | -€27,929 | -3.0% |
| Furniture and vehicles | 24 | €9,973 | €7,854 | -€2,119 | -21.2% |
| Current assets | 29/58 | €74,126 | €97,842 | +€23,716 | +32.0% |
| Amounts receivable within one year | 40/41 | €25,165 | €28,918 | +€3,753 | +14.9% |
| Trade receivables | 40 | €25,165 | €28,918 | +€3,753 | +14.9% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €45,007 | €64,807 | +€19,799 | +44.0% |
| Deferred charges and accrued income | 490/1 | €3,953 | €4,118 | +€164 | +4.2% |
| Total equity and liabilities | 10/49 | €1,027,739 | €1,021,408 | -€6,332 | -0.6% |
| Equity | 10/15 | €132,051 | €130,541 | -€1,509 | -1.1% |
| Contributions | 10/11 | €135,000 | €135,000 | = | 0.0% |
| Capital | 10 | €135,000 | €135,000 | = | 0.0% |
| Issued capital | 100 | €135,000 | €135,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,949 | -€4,459 | -€1,509 | -51.2% |
| Amounts payable | 17/49 | €895,689 | €890,867 | -€4,822 | -0.5% |
| Amounts payable after more than one year | 17 | €662,866 | €600,870 | -€61,996 | -9.4% |
| Financial debts | 170/4 | €662,866 | €600,870 | -€61,996 | -9.4% |
| Amounts payable within one year | 42/48 | €232,236 | €289,997 | +€57,761 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €61,273 | €61,996 | +€723 | +1.2% |
| Trade debts | 44 | €11,580 | €19,863 | +€8,283 | +71.5% |
| Suppliers | 440/4 | €11,580 | €19,863 | +€8,283 | +71.5% |
| Taxes, remuneration and social security | 45 | €9,329 | €6,809 | -€2,520 | -27.0% |
| Taxes | 450/3 | €7,029 | €4,208 | -€2,821 | -40.1% |
| Remuneration and social security | 454/9 | €2,300 | €2,602 | +€302 | +13.1% |
| Other amounts payable | 47/48 | €150,054 | €201,329 | +€51,274 | +34.2% |
| Accrued charges and deferred income | 492/3 | €587 | €0 | -€587 | -100% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €246 | €0 | -€246 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,340 | €30,048 | +€707 | +2.4% |
| Other operating charges | 640/8 | €9,155 | €7,914 | -€1,241 | -13.6% |
| Gross operating margin | 9900 | €104,249 | €107,393 | +€3,144 | +3.0% |
| Operating profit (loss) | 9901 | €65,508 | €69,431 | +€3,923 | +6.0% |
| Financial income | 75/76B | €1 | €3 | +€3 | +445% |
| Recurring financial income | 75 | €1 | €3 | +€3 | +445% |
| Financial charges | 65/66B | €49,479 | €67,691 | +€18,212 | +36.8% |
| Recurring financial charges | 65 | €49,479 | €67,691 | +€18,212 | +36.8% |
| Profit (loss) for the period before taxes | 9903 | €16,030 | €1,743 | -€14,286 | -89.1% |
| Income taxes | 67/77 | €2,149 | €3,253 | +€1,103 | +51.3% |
| Profit (loss) for the period | 9904 | €13,880 | -€1,509 | -€15,390 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,880 | -€1,509 | -€15,390 |
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.