STAL TER KOZE: 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 TER KOZE
Largest movements
- Tangible fixed assets +€16,654
up €16,654 (+7.7%), from €215,711 to €232,365
of which Land and buildings: +€13,364
- Trade debts +€30,134
up €30,134 (+593%), from €5,079 to €35,212
- Other debts +€19,475
up €19,475 (+19.5%), from €99,787 to €119,262
- Profit (loss) carried forward -€18,154
down €18,154 (-58.6%), from -€30,994 to -€49,148
- Reserves -€7,127
down €7,127 (-10.7%), from €66,583 to €59,456
- Debts after one year -€4,813
down €4,813 (-9.1%), from €53,156 to €48,343
- Gross operating margin -€8,649
down €8,649 (-48.6%), from €17,813 to €9,164
- Depreciation +€2,981
up €2,981 (+9.5%), from €31,232 to €34,213
- Other operating charges -€415
down €415 (-20.9%), from €1,986 to €1,572
- Financial charges -€196
down €196 (-15.9%), from €1,232 to €1,036
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 | €237,890 | €255,105 | +€17,215 | +7.2% |
| Fixed assets | 21/28 | €215,711 | €232,365 | +€16,654 | +7.7% |
| Tangible fixed assets | 22/27 | €215,711 | €232,365 | +€16,654 | +7.7% |
| Land and buildings | 22 | €177,292 | €190,657 | +€13,364 | +7.5% |
| Plant, machinery and equipment | 23 | €26,845 | €38,614 | +€11,768 | +43.8% |
| Furniture and vehicles | 24 | €11,443 | €3,089 | -€8,355 | -73.0% |
| Other tangible fixed assets | 26 | €130 | €6 | -€124 | -95.1% |
| Current assets | 29/58 | €22,178 | €22,739 | +€561 | +2.5% |
| Amounts receivable within one year | 40/41 | €18,727 | €20,877 | +€2,150 | +11.5% |
| Trade receivables | 40 | €18,206 | €13,988 | -€4,219 | -23.2% |
| Other amounts receivable | 41 | €521 | €6,889 | +€6,368 | +1,223% |
| Cash at bank and in hand | 54/58 | €3,451 | €1,862 | -€1,589 | -46.0% |
| Total equity and liabilities | 10/49 | €237,890 | €255,105 | +€17,215 | +7.2% |
| Equity | 10/15 | €54,189 | €28,908 | -€25,281 | -46.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,583 | €59,456 | -€7,127 | -10.7% |
| Tax-exempt reserves | 132 | €66,583 | €59,456 | -€7,127 | -10.7% |
| Profit (loss) carried forward | 14 | -€30,994 | -€49,148 | -€18,154 | -58.6% |
| Provisions and deferred taxes | 16 | €22,194 | €19,819 | -€2,376 | -10.7% |
| Deferred taxes | 168 | €22,194 | €19,819 | -€2,376 | -10.7% |
| Amounts payable | 17/49 | €161,506 | €206,377 | +€44,871 | +27.8% |
| Amounts payable after more than one year | 17 | €53,156 | €48,343 | -€4,813 | -9.1% |
| Financial debts | 170/4 | €53,156 | €48,343 | -€4,813 | -9.1% |
| Amounts payable within one year | 42/48 | €108,350 | €158,034 | +€49,684 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | €3,484 | €3,560 | +€76 | +2.2% |
| Trade debts | 44 | €5,079 | €35,212 | +€30,134 | +593% |
| Suppliers | 440/4 | €5,079 | €35,212 | +€30,134 | +593% |
| Other amounts payable | 47/48 | €99,787 | €119,262 | +€19,475 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,232 | €34,213 | +€2,981 | +9.5% |
| Other operating charges | 640/8 | €1,986 | €1,572 | -€415 | -20.9% |
| Gross operating margin | 9900 | €17,813 | €9,164 | -€8,649 | -48.6% |
| Operating profit (loss) | 9901 | -€15,405 | -€26,621 | -€11,216 | -72.8% |
| Financial charges | 65/66B | €1,232 | €1,036 | -€196 | -15.9% |
| Recurring financial charges | 65 | €1,232 | €1,036 | -€196 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,636 | -€27,656 | -€11,020 | -66.2% |
| Transfer from deferred taxes | 780 | €2,376 | €2,376 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€14,261 | -€25,281 | -€11,020 | -77.3% |
| Transfer from tax-exempt reserves | 789 | €7,127 | €7,127 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,134 | -€18,154 | -€11,020 | -154% |
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 23 October 2026 via checked.be.