STAL CAVARO: 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 CAVARO
Largest movements
- Tangible fixed assets +€60,384
up €60,384 (+19.4%), from €310,889 to €371,273
of which Furniture and vehicles: +€76,616
- Cash +€8,368
up €8,368 (+39.1%), from €21,416 to €29,784
mainly Net result for the year (+€46,028) and Depreciation (+€43,053)
- Reserves +€46,028
up €46,028 (+28.6%), from €160,879 to €206,906
of which Distributable reserves: +€46,028
- Debts after one year +€23,042
up €23,042 (+15.7%), from €146,989 to €170,031
- Other debts -€18,874
down €18,874 (-33.7%), from €56,015 to €37,142
- Tax, wage and social debts +€13,290
up €13,290 (+991%), from €1,342 to €14,632
of which Taxes: +€10,587
- Current portion of long-term debt +€13,167
new in 2025: €13,167
- Other operating charges -€10,093
down €10,093 (-48.0%), from €21,046 to €10,954
- Financial income +€7,583
up €7,583 (+42.3%), from €17,918 to €25,500
of which Financial income: +€25,483
- Gross operating margin -€3,917
down €3,917 (-3.6%), from €109,326 to €105,409
- Taxes +€2,749
up €2,749 (+16.6%), from €16,555 to €19,304
- Staff costs -€1,798
down €1,798 (-13.6%), from €13,224 to €11,426
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 | €391,771 | €463,805 | +€72,035 | +18.4% |
| Fixed assets | 21/28 | €310,889 | €371,273 | +€60,384 | +19.4% |
| Tangible fixed assets | 22/27 | €310,889 | €371,273 | +€60,384 | +19.4% |
| Land and buildings | 22 | €214,530 | €201,373 | -€13,157 | -6.1% |
| Plant, machinery and equipment | 23 | €27,986 | €24,911 | -€3,075 | -11.0% |
| Furniture and vehicles | 24 | €68,373 | €144,989 | +€76,616 | +112% |
| Current assets | 29/58 | €80,881 | €92,532 | +€11,651 | +14.4% |
| Stocks and contracts in progress | 3 | €45,549 | €46,755 | +€1,206 | +2.6% |
| Stocks | 30/36 | €45,549 | €46,755 | +€1,206 | +2.6% |
| Amounts receivable within one year | 40/41 | €13,460 | €15,418 | +€1,959 | +14.6% |
| Trade receivables | 40 | €10,250 | €14,475 | +€4,226 | +41.2% |
| Other amounts receivable | 41 | €3,210 | €943 | -€2,267 | -70.6% |
| Cash at bank and in hand | 54/58 | €21,416 | €29,784 | +€8,368 | +39.1% |
| Deferred charges and accrued income | 490/1 | €457 | €575 | +€118 | +25.8% |
| Total equity and liabilities | 10/49 | €391,771 | €463,805 | +€72,035 | +18.4% |
| Equity | 10/15 | €179,479 | €225,506 | +€46,028 | +25.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €160,879 | €206,906 | +€46,028 | +28.6% |
| Tax-exempt reserves | 132 | €7,022 | €7,022 | = | 0.0% |
| Distributable reserves | 133 | €153,856 | €199,884 | +€46,028 | +29.9% |
| Amounts payable | 17/49 | €212,292 | €238,299 | +€26,007 | +12.3% |
| Amounts payable after more than one year | 17 | €146,989 | €170,031 | +€23,042 | +15.7% |
| Financial debts | 170/4 | €146,989 | €170,031 | +€23,042 | +15.7% |
| Amounts payable within one year | 42/48 | €65,303 | €68,268 | +€2,965 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | - | €13,167 | +€13,167 | |
| Trade debts | 44 | €7,946 | €3,328 | -€4,618 | -58.1% |
| Suppliers | 440/4 | €7,946 | €3,328 | -€4,618 | -58.1% |
| Taxes, remuneration and social security | 45 | €1,342 | €14,632 | +€13,290 | +991% |
| Taxes | 450/3 | €1,054 | €11,640 | +€10,587 | +1,005% |
| Remuneration and social security | 454/9 | €288 | €2,991 | +€2,703 | +939% |
| Other amounts payable | 47/48 | €56,015 | €37,142 | -€18,874 | -33.7% |
| Remuneration, social security and pensions | 62 | €13,224 | €11,426 | -€1,798 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,773 | €43,053 | +€1,281 | +3.1% |
| Other operating charges | 640/8 | €21,046 | €10,954 | -€10,093 | -48.0% |
| Gross operating margin | 9900 | €109,326 | €105,409 | -€3,917 | -3.6% |
| Operating profit (loss) | 9901 | €33,283 | €39,976 | +€6,693 | +20.1% |
| Financial income | 75/76B | €17,918 | €25,500 | +€7,583 | +42.3% |
| Recurring financial income | 75 | €18 | €25,500 | +€25,483 | +145,614% |
| Non-recurring financial income | 76B | €17,900 | €25,500 | +€7,600 | +42.5% |
| Financial charges | 65/66B | €324 | €144 | -€180 | -55.7% |
| Recurring financial charges | 65 | €324 | €144 | -€180 | -55.7% |
| Profit (loss) for the period before taxes | 9903 | €50,876 | €65,332 | +€14,456 | +28.4% |
| Income taxes | 67/77 | €16,555 | €19,304 | +€2,749 | +16.6% |
| Profit (loss) for the period | 9904 | €34,321 | €46,028 | +€11,706 | +34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,321 | €46,028 | +€11,706 | +34.1% |
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 23 October 2026 via checked.be.