STAALVOL: 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.
STAALVOL
Largest movements
- Tangible fixed assets -€34,446
down €34,446 (-13.1%), from €263,765 to €229,319
- Cash +€26,897
up €26,897 (+53.9%), from €49,937 to €76,835
mainly Depreciation (+€57,597) and Receivables within one year (+€19,715)
- Receivables within one year -€19,715
down €19,715 (-26.5%), from €74,513 to €54,798
of which Trade receivables: -€20,037
- Debts after one year -€24,506
down €24,506 (-18.2%), from €134,899 to €110,393
- Profit (loss) carried forward -€8,539
new in 2025: -€8,539
- Other debts +€5,432
up €5,432 (+21.5%), from €25,295 to €30,727
- Gross operating margin -€28,137
down €28,137 (-21.9%), from €128,203 to €100,067
- Depreciation -€6,766
down €6,766 (-10.5%), from €64,363 to €57,597
- Other operating charges -€5,623
down €5,623 (-58.3%), from €9,640 to €4,017
- Taxes -€1,640
down €1,640 (-92.8%), from €1,768 to €128
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 | €446,485 | €418,071 | -€28,414 | -6.4% |
| Fixed assets | 21/28 | €264,460 | €229,319 | -€35,140 | -13.3% |
| Intangible fixed assets | 21 | €695 | €0 | -€695 | -100% |
| Tangible fixed assets | 22/27 | €263,765 | €229,319 | -€34,446 | -13.1% |
| Land and buildings | 22 | €149,405 | €132,895 | -€16,510 | -11.1% |
| Plant, machinery and equipment | 23 | €82,287 | €74,155 | -€8,132 | -9.9% |
| Furniture and vehicles | 24 | €31,908 | €22,269 | -€9,638 | -30.2% |
| Leasing and similar rights | 25 | €165 | €0 | -€165 | -100% |
| Current assets | 29/58 | €182,025 | €188,751 | +€6,726 | +3.7% |
| Stocks and contracts in progress | 3 | €40,000 | €40,000 | = | 0.0% |
| Stocks | 30/36 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €74,513 | €54,798 | -€19,715 | -26.5% |
| Trade receivables | 40 | €73,893 | €53,856 | -€20,037 | -27.1% |
| Other amounts receivable | 41 | €620 | €942 | +€322 | +51.9% |
| Cash at bank and in hand | 54/58 | €49,937 | €76,835 | +€26,897 | +53.9% |
| Deferred charges and accrued income | 490/1 | €17,575 | €17,119 | -€456 | -2.6% |
| Total equity and liabilities | 10/49 | €446,485 | €418,071 | -€28,414 | -6.4% |
| Equity | 10/15 | €236,756 | €226,357 | -€10,399 | -4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €218,156 | €216,296 | -€1,860 | -0.9% |
| Distributable reserves | 133 | €218,156 | €216,296 | -€1,860 | -0.9% |
| Profit (loss) carried forward | 14 | - | -€8,539 | -€8,539 | |
| Amounts payable | 17/49 | €209,729 | €191,714 | -€18,015 | -8.6% |
| Amounts payable after more than one year | 17 | €134,899 | €110,393 | -€24,506 | -18.2% |
| Financial debts | 170/4 | €134,899 | €110,393 | -€24,506 | -18.2% |
| Amounts payable within one year | 42/48 | €74,810 | €81,229 | +€6,419 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €26,927 | €24,506 | -€2,422 | -9.0% |
| Trade debts | 44 | €2,847 | €4,306 | +€1,459 | +51.2% |
| Suppliers | 440/4 | €2,847 | €4,306 | +€1,459 | +51.2% |
| Taxes, remuneration and social security | 45 | €19,741 | €21,692 | +€1,950 | +9.9% |
| Taxes | 450/3 | €12,287 | €15,015 | +€2,728 | +22.2% |
| Remuneration and social security | 454/9 | €7,454 | €6,676 | -€778 | -10.4% |
| Other amounts payable | 47/48 | €25,295 | €30,727 | +€5,432 | +21.5% |
| Accrued charges and deferred income | 492/3 | €20 | €91 | +€72 | +361% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €43,777 | €44,276 | +€499 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,363 | €57,597 | -€6,766 | -10.5% |
| Other operating charges | 640/8 | €9,640 | €4,017 | -€5,623 | -58.3% |
| Gross operating margin | 9900 | €128,203 | €100,067 | -€28,137 | -21.9% |
| Operating profit (loss) | 9901 | €10,423 | -€5,824 | -€16,247 | |
| Financial income | 75/76B | €2,881 | €2,093 | -€787 | -27.3% |
| Recurring financial income | 75 | €2,881 | €2,093 | -€787 | -27.3% |
| Financial charges | 65/66B | €7,624 | €6,541 | -€1,083 | -14.2% |
| Recurring financial charges | 65 | €7,624 | €6,541 | -€1,083 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €5,680 | -€10,271 | -€15,951 | |
| Income taxes | 67/77 | €1,768 | €128 | -€1,640 | -92.8% |
| Profit (loss) for the period | 9904 | €3,912 | -€10,399 | -€14,311 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,912 | -€10,399 | -€14,311 |
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 18 October 2026 via checked.be.