STABEL GEERT: 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.
STABEL GEERT
Largest movements
- Tangible fixed assets -€30,313
down €30,313 (-14.6%), from €208,209 to €177,896
- Current investments -€25,000
no longer reported in 2025 (was €25,000)
- Cash +€21,496
up €21,496 (+66.1%), from €32,517 to €54,013
mainly Depreciation (+€30,313) and Current investments (+€25,000)
- Receivables within one year +€13,806
new in 2025: €13,806
of which Other amounts receivable: +€12,926
- Other debts -€20,362
down €20,362 (-77.4%), from €26,315 to €5,954
- Gross operating margin -€9,405
down €9,405 (-22.2%), from €42,396 to €32,990
- Depreciation +€560
up €560 (+1.9%), from €29,753 to €30,313
- Other operating charges -€468
down €468 (-9.8%), from €4,757 to €4,288
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 | €265,976 | €245,966 | -€20,011 | -7.5% |
| Fixed assets | 21/28 | €208,459 | €178,146 | -€30,313 | -14.5% |
| Tangible fixed assets | 22/27 | €208,209 | €177,896 | -€30,313 | -14.6% |
| Land and buildings | 22 | €208,209 | €177,896 | -€30,313 | -14.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €57,517 | €67,820 | +€10,302 | +17.9% |
| Amounts receivable within one year | 40/41 | - | €13,806 | +€13,806 | |
| Trade receivables | 40 | - | €880 | +€880 | |
| Other amounts receivable | 41 | - | €12,926 | +€12,926 | |
| Current investments | 50/53 | €25,000 | - | -€25,000 | |
| Cash at bank and in hand | 54/58 | €32,517 | €54,013 | +€21,496 | +66.1% |
| Total equity and liabilities | 10/49 | €265,976 | €245,966 | -€20,011 | -7.5% |
| Equity | 10/15 | €238,934 | €238,337 | -€597 | -0.3% |
| Contributions | 10/11 | €8,676 | €8,676 | = | 0.0% |
| Reserves | 13 | €261,610 | €261,610 | = | 0.0% |
| Distributable reserves | 133 | €261,610 | €261,610 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,353 | -€31,950 | -€597 | -1.9% |
| Amounts payable | 17/49 | €27,042 | €7,629 | -€19,413 | -71.8% |
| Amounts payable within one year | 42/48 | €27,042 | €7,629 | -€19,413 | -71.8% |
| Trade debts | 44 | €727 | €1,675 | +€948 | +130% |
| Suppliers | 440/4 | €727 | €1,675 | +€948 | +130% |
| Other amounts payable | 47/48 | €26,315 | €5,954 | -€20,362 | -77.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,753 | €30,313 | +€560 | +1.9% |
| Other operating charges | 640/8 | €4,757 | €4,288 | -€468 | -9.8% |
| Gross operating margin | 9900 | €42,396 | €32,990 | -€9,405 | -22.2% |
| Operating profit (loss) | 9901 | €7,886 | -€1,611 | -€9,497 | |
| Financial income | 75/76B | €1,499 | €1,377 | -€122 | -8.1% |
| Recurring financial income | 75 | €1,499 | €1,377 | -€122 | -8.1% |
| Financial charges | 65/66B | €128 | €153 | +€26 | +20.0% |
| Recurring financial charges | 65 | €128 | €153 | +€26 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €9,257 | -€387 | -€9,644 | |
| Income taxes | 67/77 | €449 | €211 | -€238 | -53.1% |
| Profit (loss) for the period | 9904 | €8,808 | -€597 | -€9,406 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,808 | -€597 | -€9,406 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.