STALE: 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.
STALE
Largest movements
- Tangible fixed assets -€35,114
down €35,114 (-10.7%), from €328,892 to €293,778
of which Land and buildings: -€30,189
- Current investments +€16,077
up €16,077 (+24.3%), from €66,175 to €82,252
- Other debts -€49,590
down €49,590 (-37.1%), from €133,789 to €84,199
- Profit (loss) carried forward +€28,990
up €28,990 (+5.3%), from -€542,221 to -€513,231
- Gross operating margin +€18,917
up €18,917 (+19.2%), from €98,581 to €117,498
- Taxes +€2,436
new in 2025: €2,436
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 | €991,804 | €975,140 | -€16,664 | -1.7% |
| Fixed assets | 21/28 | €875,142 | €840,028 | -€35,114 | -4.0% |
| Tangible fixed assets | 22/27 | €328,892 | €293,778 | -€35,114 | -10.7% |
| Land and buildings | 22 | €301,906 | €271,717 | -€30,189 | -10.0% |
| Plant, machinery and equipment | 23 | €26,986 | €22,061 | -€4,925 | -18.3% |
| Financial fixed assets | 28 | €546,250 | €546,250 | = | 0.0% |
| Current assets | 29/58 | €116,662 | €135,112 | +€18,450 | +15.8% |
| Amounts receivable within one year | 40/41 | €450 | - | -€450 | |
| Other amounts receivable | 41 | €450 | - | -€450 | |
| Current investments | 50/53 | €66,175 | €82,252 | +€16,077 | +24.3% |
| Cash at bank and in hand | 54/58 | €49,773 | €52,594 | +€2,821 | +5.7% |
| Deferred charges and accrued income | 490/1 | €264 | €266 | +€2 | +0.8% |
| Total equity and liabilities | 10/49 | €991,804 | €975,140 | -€16,664 | -1.7% |
| Equity | 10/15 | €175,999 | €204,989 | +€28,990 | +16.5% |
| 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% |
| Revaluation surpluses | 12 | €656,220 | €656,220 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€542,221 | -€513,231 | +€28,990 | +5.3% |
| Amounts payable | 17/49 | €815,805 | €770,151 | -€45,654 | -5.6% |
| Amounts payable after more than one year | 17 | €680,000 | €680,000 | = | 0.0% |
| Financial debts | 170/4 | €680,000 | €680,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €135,805 | €86,635 | -€49,170 | -36.2% |
| Trade debts | 44 | €2,016 | - | -€2,016 | |
| Suppliers | 440/4 | €2,016 | - | -€2,016 | |
| Taxes, remuneration and social security | 45 | - | €2,436 | +€2,436 | |
| Taxes | 450/3 | - | €2,436 | +€2,436 | |
| Other amounts payable | 47/48 | €133,789 | €84,199 | -€49,590 | -37.1% |
| Accrued charges and deferred income | 492/3 | - | €3,516 | +€3,516 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,115 | €35,114 | -€1 | 0.0% |
| Other operating charges | 640/8 | €11,961 | €12,755 | +€794 | +6.6% |
| Gross operating margin | 9900 | €98,581 | €117,498 | +€18,917 | +19.2% |
| Operating profit (loss) | 9901 | €51,505 | €69,629 | +€18,124 | +35.2% |
| Financial charges | 65/66B | €38,987 | €38,203 | -€784 | -2.0% |
| Recurring financial charges | 65 | €38,987 | €38,203 | -€784 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €12,518 | €31,426 | +€18,908 | +151% |
| Income taxes | 67/77 | - | €2,436 | +€2,436 | |
| Profit (loss) for the period | 9904 | €12,518 | €28,990 | +€16,472 | +132% |
| Profit (loss) for the period to be appropriated | 9905 | €12,518 | €28,990 | +€16,472 | +132% |
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 17 October 2026 via checked.be.