STAL VANDERHASSELT: 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.
What changed
STAL VANDERHASSELT
NACE 93.110, Operation of sports facilities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€81,306
2024 · €24,451-€105,757
Equity
€1.1m
2024 · €1.2m-€81,306
Cash
€61,864
2024 · €56,955+€4,909
Balance sheet total
€2.4m
2024 · €2.3m+€59,817
Largest movements
Assets
- Receivables within one year +€144,762
up €144,762 (+126%), from €115,057 to €259,819
of which Trade receivables: +€191,845
- Tangible fixed assets -€80,522
down €80,522 (-5.2%), from €1.5m to €1.5m
of which Land and buildings: -€72,523
- Deferred charges and accrued income -€27,608
down €27,608 (-34.1%), from €80,912 to €53,304
Equity and liabilities
- Trade debts +€173,415
up €173,415 (+163%), from €106,137 to €279,551
- Profit (loss) carried forward -€81,306
down €81,306 (-53.0%), from -€153,353 to -€234,659
- Debts after one year -€45,624
down €45,624 (-13.3%), from €343,215 to €297,592
Income statement
- Gross operating margin -€104,529
down €104,529 (-30.0%), from €348,879 to €244,349
- Staff costs -€11,274
down €11,274 (-7.2%), from €155,985 to €144,711
- Depreciation +€6,513
up €6,513 (+4.8%), from €135,871 to €142,384
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.
Result 2024
€24,451
Gross operating margin
-€104,529
Staff costs
+€11,274
Depreciation
-€6,513
Other operating charges
-€3,013
Financial income
-€410
Financial charges
-€2,807
Taxes
+€241
Result 2025
-€81,306
raises the resultlowers the result
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.
From operations
+€117,198
Investment
-€62,362
Financing
-€49,927
Cash 2024
€56,955
From operations (derived)
+€117,198
Net result for the year
-€81,306
Depreciation
+€142,384
Stocks and contracts
-€17,775
Receivables within one year
-€144,762
Deferred charges and accrued income
+€27,608
Trade debts
+€173,415
Tax, wage and social debts
+€2,651
Other debts
+€8,953
Accrued charges and deferred income
+€6,032
Investment (derived)
-€62,362
Investment in fixed assets (net)
-€62,362
Financing
-€49,927
Debts after one year
-€45,624
Current portion of long-term debt
-€4,304
Cash 2025
€61,864
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,295,837 | €2,355,654 | +€59,817 | +2.6% |
| Fixed assets | 21/28 | €1,540,764 | €1,460,743 | -€80,022 | -5.2% |
| Tangible fixed assets | 22/27 | €1,540,640 | €1,460,119 | -€80,522 | -5.2% |
| Land and buildings | 22 | €1,384,537 | €1,312,014 | -€72,523 | -5.2% |
| Plant, machinery and equipment | 23 | €124,556 | €111,602 | -€12,955 | -10.4% |
| Furniture and vehicles | 24 | €19,949 | €16,809 | -€3,140 | -15.7% |
| Other tangible fixed assets | 26 | €11,598 | €19,694 | +€8,096 | +69.8% |
| Financial fixed assets | 28 | €124 | €624 | +€500 | +403% |
| Current assets | 29/58 | €755,073 | €894,911 | +€139,839 | +18.5% |
| Stocks and contracts in progress | 3 | €502,149 | €519,924 | +€17,775 | +3.5% |
| Stocks | 30/36 | €502,149 | €519,924 | +€17,775 | +3.5% |
| Amounts receivable within one year | 40/41 | €115,057 | €259,819 | +€144,762 | +126% |
| Trade receivables | 40 | €67,974 | €259,819 | +€191,845 | +282% |
| Other amounts receivable | 41 | €47,083 | €0 | -€47,083 | -100% |
| Cash at bank and in hand | 54/58 | €56,955 | €61,864 | +€4,909 | +8.6% |
| Deferred charges and accrued income | 490/1 | €80,912 | €53,304 | -€27,608 | -34.1% |
| Total equity and liabilities | 10/49 | €2,295,837 | €2,355,654 | +€59,817 | +2.6% |
| Equity | 10/15 | €1,171,512 | €1,090,206 | -€81,306 | -6.9% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €1,250,497 | €1,250,497 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €1,243,060 | €1,243,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€153,353 | -€234,659 | -€81,306 | -53.0% |
| Amounts payable | 17/49 | €1,124,325 | €1,265,448 | +€141,123 | +12.6% |
| Amounts payable after more than one year | 17 | €343,215 | €297,592 | -€45,624 | -13.3% |
| Financial debts | 170/4 | €343,215 | €297,592 | -€45,624 | -13.3% |
| Amounts payable within one year | 42/48 | €778,378 | €959,093 | +€180,715 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €49,927 | €45,624 | -€4,304 | -8.6% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €106,137 | €279,551 | +€173,415 | +163% |
| Suppliers | 440/4 | €106,137 | €279,551 | +€173,415 | +163% |
| Taxes, remuneration and social security | 45 | €16,934 | €19,585 | +€2,651 | +15.7% |
| Taxes | 450/3 | €1,831 | €12,449 | +€10,618 | +580% |
| Remuneration and social security | 454/9 | €15,103 | €7,136 | -€7,967 | -52.8% |
| Other amounts payable | 47/48 | €605,381 | €614,333 | +€8,953 | +1.5% |
| Accrued charges and deferred income | 492/3 | €2,731 | €8,763 | +€6,032 | +221% |
| Remuneration, social security and pensions | 62 | €155,985 | €144,711 | -€11,274 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,871 | €142,384 | +€6,513 | +4.8% |
| Other operating charges | 640/8 | €9,100 | €12,114 | +€3,013 | +33.1% |
| Gross operating margin | 9900 | €348,879 | €244,349 | -€104,529 | -30.0% |
| Operating profit (loss) | 9901 | €47,922 | -€54,859 | -€102,781 | |
| Financial income | 75/76B | €415 | €5 | -€410 | -98.8% |
| Recurring financial income | 75 | €415 | €5 | -€410 | -98.8% |
| Financial charges | 65/66B | €23,645 | €26,451 | +€2,807 | +11.9% |
| Recurring financial charges | 65 | €23,645 | €26,451 | +€2,807 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €24,692 | -€81,306 | -€105,998 | |
| Income taxes | 67/77 | €241 | €0 | -€241 | -100% |
| Profit (loss) for the period | 9904 | €24,451 | -€81,306 | -€105,757 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,451 | -€81,306 | -€105,757 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.