STAL NVL: 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 NVL
Largest movements
- Tangible fixed assets -€76,245
down €76,245 (-20.0%), from €381,785 to €305,540
- Stocks and contracts +€9,883
up €9,883 (+25.7%), from €38,508 to €48,390
- Cash +€9,198
up €9,198 (+30.7%), from €29,949 to €39,148
mainly Depreciation (+€85,441) and Receivables within one year (+€4,824)
- Debts after one year -€25,338
down €25,338 (-18.3%), from €138,174 to €112,835
- Profit (loss) carried forward -€16,965
down €16,965 (-51.2%), from €33,166 to €16,200
- Current portion of long-term debt -€6,477
down €6,477 (-20.4%), from €31,816 to €25,338
- Tax, wage and social debts -€5,633
down €5,633 (-52.3%), from €10,761 to €5,128
- Other debts -€5,608
down €5,608 (-4.4%), from €128,653 to €123,046
- Gross operating margin -€65,368
down €65,368 (-43.7%), from €149,477 to €84,109
- Taxes -€14,410
down €14,410 (-98.4%), from €14,649 to €238
- Depreciation +€8,902
up €8,902 (+11.6%), from €76,539 to €85,441
- Other operating charges -€5,359
down €5,359 (-33.8%), from €15,853 to €10,494
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 | €488,000 | €422,760 | -€65,240 | -13.4% |
| Fixed assets | 21/28 | €383,977 | €306,536 | -€77,441 | -20.2% |
| Intangible fixed assets | 21 | €2,191 | €996 | -€1,195 | -54.6% |
| Tangible fixed assets | 22/27 | €381,785 | €305,540 | -€76,245 | -20.0% |
| Land and buildings | 22 | €235,485 | €199,017 | -€36,467 | -15.5% |
| Plant, machinery and equipment | 23 | €51,714 | €47,133 | -€4,581 | -8.9% |
| Furniture and vehicles | 24 | €50,093 | €17,819 | -€32,273 | -64.4% |
| Other tangible fixed assets | 26 | €44,494 | €41,570 | -€2,924 | -6.6% |
| Current assets | 29/58 | €104,024 | €116,224 | +€12,200 | +11.7% |
| Stocks and contracts in progress | 3 | €38,508 | €48,390 | +€9,883 | +25.7% |
| Stocks | 30/36 | €38,508 | €48,390 | +€9,883 | +25.7% |
| Amounts receivable within one year | 40/41 | €29,104 | €24,280 | -€4,824 | -16.6% |
| Trade receivables | 40 | €24,801 | €19,838 | -€4,964 | -20.0% |
| Other amounts receivable | 41 | €4,303 | €4,443 | +€140 | +3.2% |
| Cash at bank and in hand | 54/58 | €29,949 | €39,148 | +€9,198 | +30.7% |
| Deferred charges and accrued income | 490/1 | €6,462 | €4,406 | -€2,057 | -31.8% |
| Total equity and liabilities | 10/49 | €488,000 | €422,760 | -€65,240 | -13.4% |
| Equity | 10/15 | €159,578 | €142,613 | -€16,965 | -10.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €114,012 | €114,012 | = | 0.0% |
| Distributable reserves | 133 | €114,012 | €114,012 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,166 | €16,200 | -€16,965 | -51.2% |
| Amounts payable | 17/49 | €328,422 | €280,147 | -€48,275 | -14.7% |
| Amounts payable after more than one year | 17 | €138,174 | €112,835 | -€25,338 | -18.3% |
| Financial debts | 170/4 | €138,174 | €112,835 | -€25,338 | -18.3% |
| Amounts payable within one year | 42/48 | €190,248 | €167,312 | -€22,937 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €31,816 | €25,338 | -€6,477 | -20.4% |
| Trade debts | 44 | €19,018 | €13,799 | -€5,219 | -27.4% |
| Suppliers | 440/4 | €19,018 | €13,799 | -€5,219 | -27.4% |
| Taxes, remuneration and social security | 45 | €10,761 | €5,128 | -€5,633 | -52.3% |
| Taxes | 450/3 | €10,761 | €5,128 | -€5,633 | -52.3% |
| Other amounts payable | 47/48 | €128,653 | €123,046 | -€5,608 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,539 | €85,441 | +€8,902 | +11.6% |
| Other operating charges | 640/8 | €15,853 | €10,494 | -€5,359 | -33.8% |
| Gross operating margin | 9900 | €149,477 | €84,109 | -€65,368 | -43.7% |
| Operating profit (loss) | 9901 | €57,085 | -€11,825 | -€68,910 | |
| Financial income | 75/76B | €54 | €60 | +€6 | +10.3% |
| Recurring financial income | 75 | €54 | €60 | +€6 | +10.3% |
| Financial charges | 65/66B | €6,236 | €4,962 | -€1,274 | -20.4% |
| Recurring financial charges | 65 | €6,236 | €4,962 | -€1,274 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €50,903 | -€16,727 | -€67,631 | |
| Income taxes | 67/77 | €14,649 | €238 | -€14,410 | -98.4% |
| Profit (loss) for the period | 9904 | €36,255 | -€16,965 | -€53,220 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,255 | -€16,965 | -€53,220 |
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 31 October 2026 via checked.be.