Stal JBF: 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 JBF
Largest movements
- Receivables within one year -€59,136
down €59,136 (-22.3%), from €264,961 to €205,825
of which Trade receivables: -€59,447
- Tangible fixed assets -€19,606
down €19,606 (-4.2%), from €462,465 to €442,859
of which Land and buildings: -€18,555
- Cash +€13,565
up €13,565 (+61.6%), from €22,020 to €35,584
mainly Receivables within one year (+€59,136) and Depreciation (+€23,067)
- Profit (loss) carried forward -€36,350
no longer reported in 2025 (was €36,350)
- Reserves +€33,256
up €33,256 (+30.2%), from €109,945 to €143,201
- Other debts -€25,256
down €25,256 (-9.8%), from €258,571 to €233,315
- Tax, wage and social debts -€22,032
down €22,032 (-79.0%), from €27,893 to €5,861
of which Taxes: -€21,838
- Gross operating margin -€57,786
down €57,786 (-58.7%), from €98,507 to €40,721
- Taxes -€13,842
down €13,842 (-95.4%), from €14,504 to €661
- Staff costs +€3,063
up €3,063 (+31.2%), from €9,816 to €12,880
- Financial charges +€1,838
up €1,838 (+105%), from €1,753 to €3,590
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 | €754,526 | €691,820 | -€62,706 | -8.3% |
| Fixed assets | 21/28 | €462,600 | €442,994 | -€19,606 | -4.2% |
| Tangible fixed assets | 22/27 | €462,465 | €442,859 | -€19,606 | -4.2% |
| Land and buildings | 22 | €452,941 | €434,386 | -€18,555 | -4.1% |
| Plant, machinery and equipment | 23 | €3,773 | €6,590 | +€2,816 | +74.6% |
| Furniture and vehicles | 24 | €5,052 | €1,585 | -€3,467 | -68.6% |
| Other tangible fixed assets | 26 | €698 | €298 | -€400 | -57.3% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €291,927 | €248,826 | -€43,101 | -14.8% |
| Stocks and contracts in progress | 3 | €4,946 | €4,946 | = | 0.0% |
| Stocks | 30/36 | €4,946 | €4,946 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €264,961 | €205,825 | -€59,136 | -22.3% |
| Trade receivables | 40 | €264,745 | €205,298 | -€59,447 | -22.5% |
| Other amounts receivable | 41 | €215 | €527 | +€311 | +144% |
| Cash at bank and in hand | 54/58 | €22,020 | €35,584 | +€13,565 | +61.6% |
| Deferred charges and accrued income | 490/1 | - | €2,471 | +€2,471 | |
| Total equity and liabilities | 10/49 | €754,526 | €691,820 | -€62,706 | -8.3% |
| Equity | 10/15 | €361,295 | €358,201 | -€3,094 | -0.9% |
| Contributions | 10/11 | €215,000 | €215,000 | = | 0.0% |
| Reserves | 13 | €109,945 | €143,201 | +€33,256 | +30.2% |
| Distributable reserves | 133 | €109,945 | €143,201 | +€33,256 | +30.2% |
| Profit (loss) carried forward | 14 | €36,350 | - | -€36,350 | |
| Amounts payable | 17/49 | €393,231 | €333,619 | -€59,613 | -15.2% |
| Amounts payable after more than one year | 17 | €79,447 | €79,447 | = | 0.0% |
| Financial debts | 170/4 | €79,447 | €79,447 | = | 0.0% |
| Amounts payable within one year | 42/48 | €313,784 | €254,171 | -€59,613 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €8,024 | €837 | -€7,187 | -89.6% |
| Trade debts | 44 | €19,296 | €14,158 | -€5,137 | -26.6% |
| Suppliers | 440/4 | €19,296 | €14,158 | -€5,137 | -26.6% |
| Taxes, remuneration and social security | 45 | €27,893 | €5,861 | -€22,032 | -79.0% |
| Taxes | 450/3 | €25,992 | €4,154 | -€21,838 | -84.0% |
| Remuneration and social security | 454/9 | €1,901 | €1,707 | -€194 | -10.2% |
| Other amounts payable | 47/48 | €258,571 | €233,315 | -€25,256 | -9.8% |
| Non-recurring operating income | 76A | €106 | - | -€106 | |
| Remuneration, social security and pensions | 62 | €9,816 | €12,880 | +€3,063 | +31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,027 | €23,067 | +€40 | +0.2% |
| Other operating charges | 640/8 | €3,505 | €3,616 | +€111 | +3.2% |
| Non-recurring operating charges | 66A | €9,591 | - | -€9,591 | |
| Gross operating margin | 9900 | €98,507 | €40,721 | -€57,786 | -58.7% |
| Operating profit (loss) | 9901 | €52,568 | €1,158 | -€51,410 | -97.8% |
| Financial income | 75/76B | €38 | €0 | -€38 | -99.7% |
| Recurring financial income | 75 | €38 | €0 | -€38 | -99.7% |
| Financial charges | 65/66B | €1,753 | €3,590 | +€1,838 | +105% |
| Recurring financial charges | 65 | €1,753 | €3,590 | +€1,838 | +105% |
| Profit (loss) for the period before taxes | 9903 | €50,853 | -€2,432 | -€53,286 | |
| Income taxes | 67/77 | €14,504 | €661 | -€13,842 | -95.4% |
| Profit (loss) for the period | 9904 | €36,350 | -€3,094 | -€39,443 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,350 | -€3,094 | -€39,443 |
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 16 October 2026 via checked.be.