STADEL: 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.
STADEL
Largest movements
- Cash -€36,088
down €36,088 (-18.1%), from €199,151 to €163,063
mainly Receivables within one year (-€29,847) and Trade debts (-€11,197)
- Receivables within one year +€29,847
up €29,847 (+27.9%), from €107,114 to €136,961
of which Other amounts receivable: +€42,839
- Trade debts -€11,197
down €11,197 (-13.7%), from €82,028 to €70,831
- Profit (loss) carried forward +€3,338
up €3,338 (+1.7%), from €199,438 to €202,776
- Gross operating margin +€72,238
up €72,238, from -€56,620 to €15,618
- Financial charges -€18,868
down €18,868 (-53.2%), from €35,441 to €16,573
- Financial income -€2,746
down €2,746 (-25.4%), from €10,802 to €8,056
- Depreciation -€2,450
down €2,450 (-60.7%), from €4,034 to €1,584
- Taxes +€1,367
up €1,367, from -€53 to €1,313
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 | €325,442 | €316,850 | -€8,592 | -2.6% |
| Fixed assets | 21/28 | €3,645 | €1,721 | -€1,924 | -52.8% |
| Tangible fixed assets | 22/27 | €3,645 | €1,721 | -€1,924 | -52.8% |
| Furniture and vehicles | 24 | €3,645 | €1,721 | -€1,924 | -52.8% |
| Current assets | 29/58 | €321,797 | €315,130 | -€6,667 | -2.1% |
| Stocks and contracts in progress | 3 | €15,532 | €14,875 | -€658 | -4.2% |
| Stocks | 30/36 | €15,532 | €14,875 | -€658 | -4.2% |
| Amounts receivable within one year | 40/41 | €107,114 | €136,961 | +€29,847 | +27.9% |
| Trade receivables | 40 | €23,311 | €10,319 | -€12,992 | -55.7% |
| Other amounts receivable | 41 | €83,803 | €126,642 | +€42,839 | +51.1% |
| Cash at bank and in hand | 54/58 | €199,151 | €163,063 | -€36,088 | -18.1% |
| Deferred charges and accrued income | 490/1 | - | €231 | +€231 | |
| Total equity and liabilities | 10/49 | €325,442 | €316,850 | -€8,592 | -2.6% |
| Equity | 10/15 | €242,155 | €245,493 | +€3,338 | +1.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €27,717 | €27,717 | = | 0.0% |
| Distributable reserves | 133 | €27,717 | €27,717 | = | 0.0% |
| Profit (loss) carried forward | 14 | €199,438 | €202,776 | +€3,338 | +1.7% |
| Amounts payable | 17/49 | €83,287 | €71,357 | -€11,930 | -14.3% |
| Amounts payable within one year | 42/48 | €83,287 | €70,957 | -€12,330 | -14.8% |
| Trade debts | 44 | €82,028 | €70,831 | -€11,197 | -13.7% |
| Suppliers | 440/4 | €82,028 | €70,831 | -€11,197 | -13.7% |
| Taxes, remuneration and social security | 45 | €1,259 | €126 | -€1,132 | -90.0% |
| Taxes | 450/3 | €1,259 | €126 | -€1,132 | -90.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,034 | €1,584 | -€2,450 | -60.7% |
| Other operating charges | 640/8 | €959 | €864 | -€95 | -9.9% |
| Gross operating margin | 9900 | -€56,620 | €15,618 | +€72,238 | |
| Operating profit (loss) | 9901 | -€61,613 | €13,169 | +€74,782 | |
| Financial income | 75/76B | €10,802 | €8,056 | -€2,746 | -25.4% |
| Recurring financial income | 75 | €10,802 | €8,056 | -€2,746 | -25.4% |
| Financial charges | 65/66B | €35,441 | €16,573 | -€18,868 | -53.2% |
| Recurring financial charges | 65 | €35,441 | €16,573 | -€18,868 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | -€86,252 | €4,651 | +€90,904 | |
| Income taxes | 67/77 | -€53 | €1,313 | +€1,367 | |
| Profit (loss) for the period | 9904 | -€86,199 | €3,338 | +€89,537 | |
| Profit (loss) for the period to be appropriated | 9905 | -€86,199 | €3,338 | +€89,537 |
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 8 October 2026 via checked.be.