STAL AERTS: 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.
STAL AERTS
Largest movements
- Stocks and contracts -€17,000
down €17,000 (-9.3%), from €182,189 to €165,189
- Receivables within one year -€13,438
down €13,438 (-15.4%), from €87,528 to €74,090
of which Trade receivables: -€10,143
- Reserves -€37,757
down €37,757 (-26.3%), from €143,491 to €105,734
of which Distributable reserves: -€35,576
- Short-term financial debts +€26,784
up €26,784 (+56.9%), from €47,068 to €73,852
- Other debts -€12,253
down €12,253 (-37.8%), from €32,447 to €20,194
- Trade debts -€9,851
down €9,851 (-26.6%), from €37,081 to €27,230
- Gross operating margin -€49,904
down €49,904, from €22,053 to -€27,851
- Taxes -€3,432
down €3,432 (-100.0%), from €3,432 to €0
- Other operating charges +€342
up €342 (+342.0%), from €100 to €442
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €269,717 | €239,279 | -€30,438 | -11.3% |
| Current assets | 29/58 | €269,717 | €239,279 | -€30,438 | -11.3% |
| Stocks and contracts in progress | 3 | €182,189 | €165,189 | -€17,000 | -9.3% |
| Stocks | 30/36 | €182,189 | €165,189 | -€17,000 | -9.3% |
| Amounts receivable within one year | 40/41 | €87,528 | €74,090 | -€13,438 | -15.4% |
| Trade receivables | 40 | €84,045 | €73,903 | -€10,143 | -12.1% |
| Other amounts receivable | 41 | €3,482 | €187 | -€3,295 | -94.6% |
| Total equity and liabilities | 10/49 | €269,717 | €239,279 | -€30,438 | -11.3% |
| Equity | 10/15 | €149,689 | €111,932 | -€37,757 | -25.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €143,491 | €105,734 | -€37,757 | -26.3% |
| Non-distributable reserves | 130/1 | €1,852 | €0 | -€1,852 | -100.0% |
| Reserves not available under the articles | 1311 | €1,852 | €0 | -€1,852 | -100.0% |
| Tax-exempt reserves | 132 | €329 | €0 | -€329 | -100.0% |
| Distributable reserves | 133 | €141,311 | €105,734 | -€35,576 | -25.2% |
| Amounts payable | 17/49 | €120,028 | €127,347 | +€7,319 | +6.1% |
| Amounts payable within one year | 42/48 | €120,028 | €127,347 | +€7,319 | +6.1% |
| Financial debts | 43 | €47,068 | €73,852 | +€26,784 | +56.9% |
| Credit institutions | 430/8 | €47,068 | €73,852 | +€26,784 | +56.9% |
| Trade debts | 44 | €37,081 | €27,230 | -€9,851 | -26.6% |
| Suppliers | 440/4 | €37,081 | €27,230 | -€9,851 | -26.6% |
| Taxes, remuneration and social security | 45 | €3,432 | €6,071 | +€2,639 | +76.9% |
| Taxes | 450/3 | €3,432 | €6,071 | +€2,639 | +76.9% |
| Other amounts payable | 47/48 | €32,447 | €20,194 | -€12,253 | -37.8% |
| Other operating charges | 640/8 | €100 | €442 | +€342 | +342.0% |
| Gross operating margin | 9900 | €22,053 | -€27,851 | -€49,904 | |
| Operating profit (loss) | 9901 | €21,953 | -€28,293 | -€50,246 | |
| Financial income | 75/76B | €50 | €0 | -€50 | -100.0% |
| Recurring financial income | 75 | €50 | €0 | -€50 | -100.0% |
| Financial charges | 65/66B | €9,508 | €9,465 | -€44 | -0.5% |
| Recurring financial charges | 65 | €9,508 | €9,465 | -€44 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €12,494 | -€37,757 | -€50,251 | |
| Income taxes | 67/77 | €3,432 | €0 | -€3,432 | -100.0% |
| Profit (loss) for the period | 9904 | €9,062 | -€37,757 | -€46,820 | |
| Transfer from tax-exempt reserves | 789 | - | €329 | +€329 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,062 | -€37,428 | -€46,491 |
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 10 October 2026 via checked.be.