STAL T: 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 T
Largest movements
- Stocks and contracts +€117,500
up €117,500 (+37.0%), from €317,500 to €435,000
- Tangible fixed assets +€16,103
up €16,103 (+15.3%), from €105,231 to €121,334
of which Plant, machinery and equipment: +€40,946
- Receivables within one year +€12,479
up €12,479 (+49.3%), from €25,296 to €37,775
of which Other amounts receivable: +€9,974
- Deferred charges and accrued income -€10,147
down €10,147 (-45.9%), from €22,124 to €11,977
- Cash -€7,937
down €7,937 (-50.2%), from €15,798 to €7,861
mainly Stocks and contracts (-€117,500) and Investment in fixed assets (net) (-€54,122)
- Other debts +€73,953
up €73,953 (+501%), from €14,768 to €88,721
- Profit (loss) carried forward +€33,570
up €33,570, from -€33,570 to €0
- Reserves +€17,382
up €17,382 (+6.4%), from €272,491 to €289,872
of which Distributable reserves: +€17,382
- Gross operating margin +€85,014
up €85,014 (+353%), from €24,114 to €109,127
- Taxes +€4,499
up €4,499, from €0 to €4,499
- Financial charges +€1,822
up €1,822 (+47.3%), from €3,854 to €5,676
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 | €485,949 | €613,947 | +€127,998 | +26.3% |
| Fixed assets | 21/28 | €105,231 | €121,334 | +€16,103 | +15.3% |
| Tangible fixed assets | 22/27 | €105,231 | €121,334 | +€16,103 | +15.3% |
| Land and buildings | 22 | €24,060 | €8,020 | -€16,040 | -66.7% |
| Plant, machinery and equipment | 23 | €30,715 | €71,661 | +€40,946 | +133% |
| Furniture and vehicles | 24 | €28,508 | €21,088 | -€7,420 | -26.0% |
| Other tangible fixed assets | 26 | €21,948 | €20,566 | -€1,382 | -6.3% |
| Current assets | 29/58 | €380,718 | €492,613 | +€111,895 | +29.4% |
| Stocks and contracts in progress | 3 | €317,500 | €435,000 | +€117,500 | +37.0% |
| Stocks | 30/36 | €317,500 | €435,000 | +€117,500 | +37.0% |
| Amounts receivable within one year | 40/41 | €25,296 | €37,775 | +€12,479 | +49.3% |
| Trade receivables | 40 | €16,457 | €18,961 | +€2,505 | +15.2% |
| Other amounts receivable | 41 | €8,840 | €18,814 | +€9,974 | +113% |
| Cash at bank and in hand | 54/58 | €15,798 | €7,861 | -€7,937 | -50.2% |
| Deferred charges and accrued income | 490/1 | €22,124 | €11,977 | -€10,147 | -45.9% |
| Total equity and liabilities | 10/49 | €485,949 | €613,947 | +€127,998 | +26.3% |
| Equity | 10/15 | €300,921 | €351,872 | +€50,951 | +16.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €272,491 | €289,872 | +€17,382 | +6.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €266,291 | €283,672 | +€17,382 | +6.5% |
| Profit (loss) carried forward | 14 | -€33,570 | €0 | +€33,570 | |
| Amounts payable | 17/49 | €185,028 | €262,075 | +€77,047 | +41.6% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Financial debts | 170/4 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €31,269 | €106,444 | +€75,175 | +240% |
| Trade debts | 44 | €16,218 | €12,660 | -€3,558 | -21.9% |
| Suppliers | 440/4 | €16,218 | €12,660 | -€3,558 | -21.9% |
| Taxes, remuneration and social security | 45 | €283 | €5,063 | +€4,780 | +1,691% |
| Taxes | 450/3 | €283 | €5,063 | +€4,780 | +1,691% |
| Other amounts payable | 47/48 | €14,768 | €88,721 | +€73,953 | +501% |
| Accrued charges and deferred income | 492/3 | €3,759 | €5,631 | +€1,872 | +49.8% |
| Non-recurring operating income | 76A | €0 | €6,000 | +€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,957 | €38,019 | -€938 | -2.4% |
| Other operating charges | 640/8 | €1,017 | €1,267 | +€249 | +24.5% |
| Non-recurring operating charges | 66A | €3,063 | €8,715 | +€5,652 | +185% |
| Gross operating margin | 9900 | €24,114 | €109,127 | +€85,014 | +353% |
| Operating profit (loss) | 9901 | -€18,923 | €61,126 | +€80,050 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €3,854 | €5,676 | +€1,822 | +47.3% |
| Recurring financial charges | 65 | €3,854 | €5,676 | +€1,822 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | -€22,777 | €55,450 | +€78,227 | |
| Income taxes | 67/77 | €0 | €4,499 | +€4,499 | |
| Profit (loss) for the period | 9904 | -€22,777 | €50,951 | +€73,728 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,777 | €50,951 | +€73,728 |
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 14 October 2026 via checked.be.