STADO: 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.
STADO
Largest movements
- Receivables within one year +€333,823
up €333,823 (+61.5%), from €542,372 to €876,195
of which Trade receivables: +€453,823
- Cash +€55,706
up €55,706 (+21.2%), from €262,719 to €318,425
mainly Net result for the year (+€526,592) and Trade debts (+€349,771)
- Tangible fixed assets +€38,570
up €38,570 (+382.2%), from €10,091 to €48,661
of which Furniture and vehicles: +€38,688
- Reserves +€516,592
up €516,592 (+23.8%), from €2.2m to €2.7m
- Short-term financial debts -€375,000
down €375,000 (-100.0%), from €375,000 to €0
- Trade debts +€349,771
up €349,771 (+155.6%), from €224,795 to €574,565
- Debts after one year -€237,082
down €237,082 (-94.8%), from €250,000 to €12,918
- Tax, wage and social debts +€159,615
up €159,615 (+148.3%), from €107,654 to €267,268
of which Taxes: +€152,642
- Gross operating margin +€565,235
up €565,235 (+238.7%), from €236,750 to €801,985
- Taxes +€106,280
up €106,280 (+169.1%), from €62,841 to €169,122
- Staff costs +€57,945
new in 2025: €57,945
- Financial charges +€16,631
up €16,631 (+77.9%), from €21,354 to €37,985
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 | €3,247,443 | €3,682,589 | +€435,146 | +13.4% |
| Fixed assets | 21/28 | €121,565 | €160,134 | +€38,570 | +31.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €10,091 | €48,661 | +€38,570 | +382.2% |
| Plant, machinery and equipment | 23 | €118 | €0 | -€118 | -100.0% |
| Furniture and vehicles | 24 | €9,973 | €48,661 | +€38,688 | +387.9% |
| Financial fixed assets | 28 | €111,474 | €111,474 | = | 0.0% |
| Current assets | 29/58 | €3,125,878 | €3,522,454 | +€396,576 | +12.7% |
| Stocks and contracts in progress | 3 | €2,311,756 | €2,290,884 | -€20,871 | -0.9% |
| Stocks | 30/36 | €14,000 | €24,946 | +€10,946 | +78.2% |
| Contracts in progress | 37 | €2,297,756 | €2,265,938 | -€31,817 | -1.4% |
| Amounts receivable within one year | 40/41 | €542,372 | €876,195 | +€333,823 | +61.5% |
| Trade receivables | 40 | €14,487 | €468,310 | +€453,823 | +3132.6% |
| Other amounts receivable | 41 | €527,885 | €407,885 | -€120,000 | -22.7% |
| Current investments | 50/53 | €225 | €225 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €262,719 | €318,425 | +€55,706 | +21.2% |
| Deferred charges and accrued income | 490/1 | €8,807 | €36,725 | +€27,918 | +317.0% |
| Total equity and liabilities | 10/49 | €3,247,443 | €3,682,589 | +€435,146 | +13.4% |
| Equity | 10/15 | €2,189,596 | €2,706,188 | +€516,592 | +23.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,169,596 | €2,686,188 | +€516,592 | +23.8% |
| Distributable reserves | 133 | €2,169,596 | €2,686,188 | +€516,592 | +23.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,057,847 | €976,400 | -€81,446 | -7.7% |
| Amounts payable after more than one year | 17 | €250,000 | €12,918 | -€237,082 | -94.8% |
| Financial debts | 170/4 | €250,000 | €12,918 | -€237,082 | -94.8% |
| Amounts payable within one year | 42/48 | €788,657 | €953,322 | +€164,665 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | - | €9,902 | +€9,902 | |
| Financial debts | 43 | €375,000 | €0 | -€375,000 | -100.0% |
| Credit institutions | 430/8 | €375,000 | €0 | -€375,000 | -100.0% |
| Trade debts | 44 | €224,795 | €574,565 | +€349,771 | +155.6% |
| Suppliers | 440/4 | €224,795 | €574,565 | +€349,771 | +155.6% |
| Taxes, remuneration and social security | 45 | €107,654 | €267,268 | +€159,615 | +148.3% |
| Taxes | 450/3 | €107,654 | €260,296 | +€152,642 | +141.8% |
| Remuneration and social security | 454/9 | - | €6,973 | +€6,973 | |
| Other amounts payable | 47/48 | €81,208 | €101,586 | +€20,378 | +25.1% |
| Accrued charges and deferred income | 492/3 | €19,190 | €10,161 | -€9,029 | -47.1% |
| Remuneration, social security and pensions | 62 | - | €57,945 | +€57,945 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,016 | €8,766 | +€6,750 | +334.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,000 | +€7,000 | |
| Other operating charges | 640/8 | €1,914 | €2,368 | +€454 | +23.7% |
| Gross operating margin | 9900 | €236,750 | €801,985 | +€565,235 | +238.7% |
| Operating profit (loss) | 9901 | €232,820 | €725,905 | +€493,086 | +211.8% |
| Financial income | 75/76B | €6,374 | €7,794 | +€1,420 | +22.3% |
| Recurring financial income | 75 | €6,374 | €7,794 | +€1,420 | +22.3% |
| Financial charges | 65/66B | €21,354 | €37,985 | +€16,631 | +77.9% |
| Recurring financial charges | 65 | €21,354 | €37,985 | +€16,631 | +77.9% |
| Profit (loss) for the period before taxes | 9903 | €217,839 | €695,714 | +€477,875 | +219.4% |
| Income taxes | 67/77 | €62,841 | €169,122 | +€106,280 | +169.1% |
| Profit (loss) for the period | 9904 | €154,998 | €526,592 | +€371,594 | +239.7% |
| Profit (loss) for the period to be appropriated | 9905 | €154,998 | €526,592 | +€371,594 | +239.7% |
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 5 October 2026 via checked.be.