STAL MERTENS: 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 MERTENS
Largest movements
- Cash +€1,957
up €1,957 (+13.6%), from €14,381 to €16,338
mainly Trade debts (+€899) and Net result for the year (+€678)
- Tangible fixed assets -€370
down €370 (-16.6%), from €2,224 to €1,854
- Receivables within one year -€284
no longer reported in 2025 (was €284)
- Trade debts +€899
new in 2025: €899
- Profit (loss) carried forward +€678
up €678 (+1.3%), from -€50,597 to -€49,919
- Other debts -€198
down €198 (-0.4%), from €44,189 to €43,990
- Gross operating margin -€2,325
down €2,325 (-50.8%), from €4,575 to €2,250
- Other operating charges +€514
up €514 (+81.5%), from €631 to €1,146
- Financial income -€189
down €189 (-100.0%), from €189 to €0
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 | €16,889 | €18,192 | +€1,303 | +7.7% |
| Fixed assets | 21/28 | €2,224 | €1,854 | -€370 | -16.6% |
| Tangible fixed assets | 22/27 | €2,224 | €1,854 | -€370 | -16.6% |
| Plant, machinery and equipment | 23 | €2,224 | €1,854 | -€370 | -16.6% |
| Current assets | 29/58 | €14,666 | €16,338 | +€1,672 | +11.4% |
| Amounts receivable within one year | 40/41 | €284 | - | -€284 | |
| Trade receivables | 40 | €284 | - | -€284 | |
| Cash at bank and in hand | 54/58 | €14,381 | €16,338 | +€1,957 | +13.6% |
| Total equity and liabilities | 10/49 | €16,889 | €18,192 | +€1,303 | +7.7% |
| Equity | 10/15 | -€28,597 | -€27,919 | +€678 | +2.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,597 | -€49,919 | +€678 | +1.3% |
| Amounts payable | 17/49 | €45,486 | €46,111 | +€625 | +1.4% |
| Amounts payable within one year | 42/48 | €45,486 | €46,111 | +€625 | +1.4% |
| Trade debts | 44 | - | €899 | +€899 | |
| Suppliers | 440/4 | - | €899 | +€899 | |
| Taxes, remuneration and social security | 45 | €1,298 | €1,222 | -€75 | -5.8% |
| Taxes | 450/3 | €1,298 | €1,222 | -€75 | -5.8% |
| Other amounts payable | 47/48 | €44,189 | €43,990 | -€198 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €370 | €370 | = | 0.0% |
| Other operating charges | 640/8 | €631 | €1,146 | +€514 | +81.5% |
| Gross operating margin | 9900 | €4,575 | €2,250 | -€2,325 | -50.8% |
| Operating profit (loss) | 9901 | €3,574 | €735 | -€2,839 | -79.4% |
| Financial income | 75/76B | €189 | €0 | -€189 | -100.0% |
| Recurring financial income | 75 | €189 | €0 | -€189 | -100.0% |
| Financial charges | 65/66B | €45 | €57 | +€12 | +26.3% |
| Recurring financial charges | 65 | €45 | €57 | +€12 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €3,717 | €678 | -€3,040 | -81.8% |
| Profit (loss) for the period | 9904 | €3,717 | €678 | -€3,040 | -81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,717 | €678 | -€3,040 | -81.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.