Stal De Kluis: 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 De Kluis
Largest movements
- Current investments +€180,000
new in 2025: €180,000
- Cash -€165,174
down €165,174 (-59.1%), from €279,508 to €114,334
mainly Current investments (-€180,000) and Other debts (-€113,348)
- Tangible fixed assets -€95,399
down €95,399 (-19.7%), from €483,098 to €387,699
- Other debts -€113,348
down €113,348 (-87.2%), from €129,945 to €16,596
- Debts after one year -€59,681
down €59,681 (-33.5%), from €178,061 to €118,380
- Current portion of long-term debt +€47,972
up €47,972 (+410%), from €11,709 to €59,681
- Reserves +€47,875
up €47,875 (+10.1%), from €474,171 to €522,046
of which Distributable reserves: +€47,875
- Tax, wage and social debts -€10,078
down €10,078 (-42.2%), from €23,898 to €13,820
of which Taxes: -€7,215
- Gross operating margin -€21,563
down €21,563 (-9.0%), from €239,096 to €217,534
- Financial charges -€6,054
down €6,054 (-41.3%), from €14,670 to €8,616
- Taxes -€3,908
down €3,908 (-17.9%), from €21,792 to €17,884
- Staff costs -€2,624
down €2,624 (-8.0%), from €32,744 to €30,120
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 | €840,723 | €763,256 | -€77,468 | -9.2% |
| Fixed assets | 21/28 | €483,179 | €387,699 | -€95,480 | -19.8% |
| Intangible fixed assets | 21 | €81 | €0 | -€81 | -100% |
| Tangible fixed assets | 22/27 | €483,098 | €387,699 | -€95,399 | -19.7% |
| Land and buildings | 22 | €303,709 | €263,068 | -€40,641 | -13.4% |
| Plant, machinery and equipment | 23 | €101,857 | €80,505 | -€21,352 | -21.0% |
| Furniture and vehicles | 24 | €73,845 | €42,286 | -€31,559 | -42.7% |
| Other tangible fixed assets | 26 | €3,686 | €1,839 | -€1,847 | -50.1% |
| Current assets | 29/58 | €357,545 | €375,557 | +€18,012 | +5.0% |
| Stocks and contracts in progress | 3 | €55,500 | €56,500 | +€1,000 | +1.8% |
| Stocks | 30/36 | €55,500 | €56,500 | +€1,000 | +1.8% |
| Amounts receivable within one year | 40/41 | €17,401 | €18,430 | +€1,029 | +5.9% |
| Trade receivables | 40 | €12,825 | €9,609 | -€3,216 | -25.1% |
| Other amounts receivable | 41 | €4,576 | €8,821 | +€4,245 | +92.8% |
| Current investments | 50/53 | - | €180,000 | +€180,000 | |
| Cash at bank and in hand | 54/58 | €279,508 | €114,334 | -€165,174 | -59.1% |
| Deferred charges and accrued income | 490/1 | €5,136 | €6,293 | +€1,157 | +22.5% |
| Total equity and liabilities | 10/49 | €840,723 | €763,256 | -€77,468 | -9.2% |
| Equity | 10/15 | €492,771 | €540,646 | +€47,875 | +9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €474,171 | €522,046 | +€47,875 | +10.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,288 | €11,288 | = | 0.0% |
| Distributable reserves | 133 | €461,024 | €508,898 | +€47,875 | +10.4% |
| Amounts payable | 17/49 | €347,952 | €222,610 | -€125,342 | -36.0% |
| Amounts payable after more than one year | 17 | €178,061 | €118,380 | -€59,681 | -33.5% |
| Financial debts | 170/4 | €178,061 | €118,380 | -€59,681 | -33.5% |
| Amounts payable within one year | 42/48 | €169,516 | €104,230 | -€65,286 | -38.5% |
| Current portion of amounts payable after more than one year | 42 | €11,709 | €59,681 | +€47,972 | +410% |
| Financial debts | 43 | €1,750 | €4,200 | +€2,450 | +140% |
| Credit institutions | 430/8 | €1,750 | €4,200 | +€2,450 | +140% |
| Trade debts | 44 | €2,214 | €9,932 | +€7,718 | +349% |
| Suppliers | 440/4 | €2,214 | €9,932 | +€7,718 | +349% |
| Taxes, remuneration and social security | 45 | €23,898 | €13,820 | -€10,078 | -42.2% |
| Taxes | 450/3 | €17,647 | €10,432 | -€7,215 | -40.9% |
| Remuneration and social security | 454/9 | €6,251 | €3,388 | -€2,863 | -45.8% |
| Other amounts payable | 47/48 | €129,945 | €16,596 | -€113,348 | -87.2% |
| Accrued charges and deferred income | 492/3 | €375 | €0 | -€375 | -100% |
| Remuneration, social security and pensions | 62 | €32,744 | €30,120 | -€2,624 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,306 | €110,966 | +€660 | +0.6% |
| Other operating charges | 640/8 | €2,506 | €3,403 | +€897 | +35.8% |
| Gross operating margin | 9900 | €239,096 | €217,534 | -€21,563 | -9.0% |
| Operating profit (loss) | 9901 | €93,540 | €73,045 | -€20,495 | -21.9% |
| Financial income | 75/76B | €2,722 | €1,330 | -€1,392 | -51.2% |
| Recurring financial income | 75 | €2,722 | €1,330 | -€1,392 | -51.2% |
| Financial charges | 65/66B | €14,670 | €8,616 | -€6,054 | -41.3% |
| Recurring financial charges | 65 | €14,670 | €8,616 | -€6,054 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | €81,592 | €65,759 | -€15,833 | -19.4% |
| Income taxes | 67/77 | €21,792 | €17,884 | -€3,908 | -17.9% |
| Profit (loss) for the period | 9904 | €59,800 | €47,875 | -€11,926 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €59,800 | €47,875 | -€11,926 | -19.9% |
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 27 October 2026 via checked.be.