STAL78: 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.
STAL78
Largest movements
- Cash -€11,865
down €11,865 (-19.0%), from €62,348 to €50,483
mainly Contributions, distributions and other (-€110,000) and Debts after one year (-€78,000)
- Other debts +€94,082
up €94,082, from €0 to €94,082
- Debts after one year -€78,000
down €78,000 (-43.3%), from €180,000 to €102,000
- Current portion of long-term debt -€24,000
down €24,000 (-80.0%), from €30,000 to €6,000
- Profit (loss) carried forward -€11,837
down €11,837 (-6.4%), from €185,861 to €174,024
- Gross operating margin +€15,546
up €15,546 (+11.3%), from €137,871 to €153,417
- Depreciation +€3,896
up €3,896 (+36.6%), from €10,649 to €14,545
- Taxes +€3,559
up €3,559 (+14.6%), from €24,393 to €27,951
- Financial charges -€1,574
down €1,574 (-12.5%), from €12,643 to €11,069
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 | €408,556 | €392,448 | -€16,108 | -3.9% |
| Fixed assets | 21/28 | €325,281 | €321,617 | -€3,664 | -1.1% |
| Tangible fixed assets | 22/27 | €325,281 | €321,617 | -€3,664 | -1.1% |
| Land and buildings | 22 | €318,198 | €310,094 | -€8,104 | -2.5% |
| Plant, machinery and equipment | 23 | €4,308 | €3,751 | -€558 | -12.9% |
| Furniture and vehicles | 24 | €2,775 | €7,773 | +€4,998 | +180% |
| Current assets | 29/58 | €83,275 | €70,831 | -€12,444 | -14.9% |
| Amounts receivable within one year | 40/41 | €16,970 | €16,020 | -€950 | -5.6% |
| Trade receivables | 40 | €13,939 | €16,020 | +€2,081 | +14.9% |
| Other amounts receivable | 41 | €3,031 | - | -€3,031 | |
| Cash at bank and in hand | 54/58 | €62,348 | €50,483 | -€11,865 | -19.0% |
| Deferred charges and accrued income | 490/1 | €3,957 | €4,328 | +€371 | +9.4% |
| Total equity and liabilities | 10/49 | €408,556 | €392,448 | -€16,108 | -3.9% |
| Equity | 10/15 | €188,261 | €176,424 | -€11,837 | -6.3% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €185,861 | €174,024 | -€11,837 | -6.4% |
| Amounts payable | 17/49 | €220,296 | €216,024 | -€4,271 | -1.9% |
| Amounts payable after more than one year | 17 | €180,000 | €102,000 | -€78,000 | -43.3% |
| Financial debts | 170/4 | €180,000 | €102,000 | -€78,000 | -43.3% |
| Amounts payable within one year | 42/48 | €40,296 | €114,024 | +€73,729 | +183% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €6,000 | -€24,000 | -80.0% |
| Trade debts | 44 | €2,006 | €1,623 | -€383 | -19.1% |
| Suppliers | 440/4 | €2,006 | €1,623 | -€383 | -19.1% |
| Taxes, remuneration and social security | 45 | €8,290 | €12,319 | +€4,029 | +48.6% |
| Taxes | 450/3 | €8,290 | €12,319 | +€4,029 | +48.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €94,082 | +€94,082 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,649 | €14,545 | +€3,896 | +36.6% |
| Other operating charges | 640/8 | €1,857 | €2,285 | +€428 | +23.0% |
| Non-recurring operating charges | 66A | €63 | €141 | +€78 | +124% |
| Gross operating margin | 9900 | €137,871 | €153,417 | +€15,546 | +11.3% |
| Operating profit (loss) | 9901 | €125,302 | €136,445 | +€11,143 | +8.9% |
| Financial income | 75/76B | €357 | €738 | +€381 | +107% |
| Recurring financial income | 75 | €357 | €738 | +€381 | +107% |
| Financial charges | 65/66B | €12,643 | €11,069 | -€1,574 | -12.5% |
| Recurring financial charges | 65 | €12,643 | €11,069 | -€1,574 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €113,015 | €126,114 | +€13,099 | +11.6% |
| Income taxes | 67/77 | €24,393 | €27,951 | +€3,559 | +14.6% |
| Profit (loss) for the period | 9904 | €88,623 | €98,163 | +€9,540 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €88,623 | €98,163 | +€9,540 | +10.8% |
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 18 October 2026 via checked.be.