Stal VCE: 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 VCE
Largest movements
- Receivables within one year +€32,797
up €32,797 (+1333.6%), from €2,459 to €35,257
of which Trade receivables: +€30,075
- Stocks and contracts +€10,000
new in 2025: €10,000
- Other debts +€180,829
up €180,829 (+137.7%), from €131,344 to €312,173
- Revaluation surpluses -€85,910
down €85,910 (-28.4%), from €302,502 to €216,592
- Reserves +€85,910
up €85,910 (+10782.8%), from €797 to €86,706
of which Distributable reserves: +€85,910
- Profit (loss) carried forward -€66,424
down €66,424 (-34.3%), from -€193,590 to -€260,013
- Debts after one year -€60,340
down €60,340 (-16.4%), from €368,833 to €308,493
of which Other amounts payable: -€59,737
- Other operating charges -€5,608
down €5,608 (-48.1%), from €11,656 to €6,047
- Depreciation +€3,323
up €3,323 (+6.5%), from €51,109 to €54,432
- Gross operating margin +€3,109
up €3,109 (+96.1%), from -€3,236 to -€127
- Taxes -€3,033
no longer reported in 2025 (was €3,033)
- Financial charges -€1,731
down €1,731 (-22.9%), from €7,548 to €5,817
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.
Cash bridge derived
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 | €780,725 | €819,212 | +€38,487 | +4.9% |
| Formation expenses | 20 | €1,265 | - | -€1,265 | |
| Fixed assets | 21/28 | €775,378 | €770,881 | -€4,497 | -0.6% |
| Tangible fixed assets | 22/27 | €775,378 | €770,881 | -€4,497 | -0.6% |
| Land and buildings | 22 | €724,840 | €708,058 | -€16,782 | -2.3% |
| Plant, machinery and equipment | 23 | €50,253 | €62,740 | +€12,487 | +24.8% |
| Furniture and vehicles | 24 | €284 | €83 | -€201 | -70.9% |
| Current assets | 29/58 | €4,082 | €48,331 | +€44,249 | +1084.0% |
| Stocks and contracts in progress | 3 | - | €10,000 | +€10,000 | |
| Stocks | 30/36 | - | €10,000 | +€10,000 | |
| Amounts receivable within one year | 40/41 | €2,459 | €35,257 | +€32,797 | +1333.6% |
| Trade receivables | 40 | €800 | €30,875 | +€30,075 | +3759.4% |
| Other amounts receivable | 41 | €1,659 | €4,382 | +€2,722 | +164.1% |
| Cash at bank and in hand | 54/58 | €1,623 | €349 | -€1,273 | -78.5% |
| Deferred charges and accrued income | 490/1 | - | €2,725 | +€2,725 | |
| Total equity and liabilities | 10/49 | €780,725 | €819,212 | +€38,487 | +4.9% |
| Equity | 10/15 | €171,709 | €105,285 | -€66,424 | -38.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | - | €62,000 | +€62,000 | |
| Issued capital | 100 | - | €62,000 | +€62,000 | |
| Revaluation surpluses | 12 | €302,502 | €216,592 | -€85,910 | -28.4% |
| Reserves | 13 | €797 | €86,706 | +€85,910 | +10782.8% |
| Non-distributable reserves | 130/1 | €797 | €797 | = | 0.0% |
| Legal reserve | 130 | - | €797 | +€797 | |
| Reserves not available under the articles | 1311 | €797 | - | -€797 | |
| Distributable reserves | 133 | - | €85,910 | +€85,910 | |
| Profit (loss) carried forward | 14 | -€193,590 | -€260,013 | -€66,424 | -34.3% |
| Amounts payable | 17/49 | €609,016 | €713,927 | +€104,911 | +17.2% |
| Amounts payable after more than one year | 17 | €368,833 | €308,493 | -€60,340 | -16.4% |
| Financial debts | 170/4 | €308,166 | €307,563 | -€603 | -0.2% |
| Other amounts payable | 178/9 | €60,667 | €931 | -€59,737 | -98.5% |
| Amounts payable within one year | 42/48 | €240,183 | €405,433 | +€165,250 | +68.8% |
| Current portion of amounts payable after more than one year | 42 | €46,735 | €37,745 | -€8,989 | -19.2% |
| Trade debts | 44 | €61,776 | €55,259 | -€6,517 | -10.5% |
| Suppliers | 440/4 | €61,776 | €55,259 | -€6,517 | -10.5% |
| Taxes, remuneration and social security | 45 | €328 | €256 | -€72 | -21.9% |
| Taxes | 450/3 | €328 | €256 | -€72 | -21.9% |
| Other amounts payable | 47/48 | €131,344 | €312,173 | +€180,829 | +137.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,109 | €54,432 | +€3,323 | +6.5% |
| Other operating charges | 640/8 | €11,656 | €6,047 | -€5,608 | -48.1% |
| Gross operating margin | 9900 | -€3,236 | -€127 | +€3,109 | +96.1% |
| Operating profit (loss) | 9901 | -€66,001 | -€60,607 | +€5,394 | +8.2% |
| Financial income | 75/76B | €152 | - | -€152 | |
| Recurring financial income | 75 | €152 | - | -€152 | |
| Financial charges | 65/66B | €7,548 | €5,817 | -€1,731 | -22.9% |
| Recurring financial charges | 65 | €7,548 | €5,817 | -€1,731 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | -€73,397 | -€66,424 | +€6,973 | +9.5% |
| Income taxes | 67/77 | €3,033 | - | -€3,033 | |
| Profit (loss) for the period | 9904 | -€76,430 | -€66,424 | +€10,006 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,430 | -€66,424 | +€10,006 | +13.1% |
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 12 October 2026 via checked.be.