Stael Architect: 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.
Stael Architect
Largest movements
- Tangible fixed assets +€24,407
up €24,407 (+336%), from €7,272 to €31,679
of which Furniture and vehicles: +€24,925
- Cash -€21,154
down €21,154 (-33.7%), from €62,768 to €41,614
mainly Investment in fixed assets (net) (-€32,944) and Tax, wage and social debts (-€8,979)
- Receivables within one year -€1,672
down €1,672 (-14.9%), from €11,231 to €9,559
of which Trade receivables: -€5,580
- Current portion of long-term debt +€10,617
up €10,617 (+754%), from €1,408 to €12,025
- Tax, wage and social debts -€8,979
no longer reported in 2025 (was €8,979)
- Debts after one year +€7,207
new in 2025: €7,207
- Reserves -€6,420
down €6,420 (-11.1%), from €57,621 to €51,201
- Gross operating margin -€48,046
down €48,046 (-88.9%), from €54,023 to €5,978
- Taxes -€12,308
down €12,308 (-98.6%), from €12,489 to €181
- Depreciation +€5,747
up €5,747 (+206%), from €2,790 to €8,537
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 | €82,859 | €84,502 | +€1,643 | +2.0% |
| Fixed assets | 21/28 | €7,272 | €31,679 | +€24,407 | +336% |
| Tangible fixed assets | 22/27 | €7,272 | €31,679 | +€24,407 | +336% |
| Furniture and vehicles | 24 | €4,076 | €29,002 | +€24,925 | +611% |
| Other tangible fixed assets | 26 | €3,195 | €2,677 | -€518 | -16.2% |
| Current assets | 29/58 | €75,587 | €52,823 | -€22,764 | -30.1% |
| Amounts receivable within one year | 40/41 | €11,231 | €9,559 | -€1,672 | -14.9% |
| Trade receivables | 40 | €9,220 | €3,641 | -€5,580 | -60.5% |
| Other amounts receivable | 41 | €2,011 | €5,919 | +€3,908 | +194% |
| Cash at bank and in hand | 54/58 | €62,768 | €41,614 | -€21,154 | -33.7% |
| Deferred charges and accrued income | 490/1 | €1,588 | €1,651 | +€63 | +3.9% |
| Total equity and liabilities | 10/49 | €82,859 | €84,502 | +€1,643 | +2.0% |
| Equity | 10/15 | €63,821 | €57,401 | -€6,420 | -10.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €57,621 | €51,201 | -€6,420 | -11.1% |
| Distributable reserves | 133 | €57,621 | €51,201 | -€6,420 | -11.1% |
| Amounts payable | 17/49 | €19,038 | €27,101 | +€8,063 | +42.4% |
| Amounts payable after more than one year | 17 | - | €7,207 | +€7,207 | |
| Financial debts | 170/4 | - | €7,207 | +€7,207 | |
| Amounts payable within one year | 42/48 | €19,038 | €19,894 | +€856 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €1,408 | €12,025 | +€10,617 | +754% |
| Trade debts | 44 | €3,124 | €2,615 | -€510 | -16.3% |
| Suppliers | 440/4 | €3,124 | €2,615 | -€510 | -16.3% |
| Taxes, remuneration and social security | 45 | €8,979 | - | -€8,979 | |
| Taxes | 450/3 | €8,979 | - | -€8,979 | |
| Other amounts payable | 47/48 | €5,527 | €5,254 | -€273 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,790 | €8,537 | +€5,747 | +206% |
| Other operating charges | 640/8 | €1,250 | €1,176 | -€73 | -5.9% |
| Gross operating margin | 9900 | €54,023 | €5,978 | -€48,046 | -88.9% |
| Operating profit (loss) | 9901 | €49,984 | -€3,736 | -€53,720 | |
| Financial charges | 65/66B | €2,353 | €2,504 | +€151 | +6.4% |
| Recurring financial charges | 65 | €2,353 | €2,504 | +€151 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €47,631 | -€6,239 | -€53,870 | |
| Income taxes | 67/77 | €12,489 | €181 | -€12,308 | -98.6% |
| Profit (loss) for the period | 9904 | €35,142 | -€6,420 | -€41,562 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,142 | -€6,420 | -€41,562 |
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 19 October 2026 via checked.be.