STALLO: what changed
Two fiscal 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.
STALLO
Largest movements
- Receivables within one year -€200,668
down €200,668 (-8.5%), from €2.4m to €2.2m
of which Trade receivables: -€278,088
- Cash -€196,938
down €196,938 (-12.6%), from €1.6m to €1.4m
mainly Contributions, distributions and other (-€357,276) and Investment in fixed assets (net) (-€207,433)
- Tangible fixed assets +€124,230
up €124,230 (+56.3%), from €220,646 to €344,876
of which Land and buildings: +€116,182
- Stocks and contracts +€77,791
up €77,791 (+24.0%), from €324,055 to €401,846
- Other debts -€117,068
down €117,068 (-23.6%), from €496,686 to €379,618
- Tax, wage and social debts -€81,467
down €81,467 (-42.7%), from €190,748 to €109,282
of which Remuneration and social security: -€41,663
- Financial charges -€111,731
down €111,731 (-57.7%), from €193,650 to €81,919
- Staff costs +€94,754
up €94,754 (+6.7%), from €1.4m to €1.5m
- Gross operating margin +€79,848
up €79,848 (+3.9%), from €2.1m to €2.1m
- Financial income -€60,483
down €60,483 (-69.8%), from €86,709 to €26,227
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 | €5,097,224 | €4,896,378 | -€200,846 | -3.9% |
| Fixed assets | 21/28 | €401,520 | €525,671 | +€124,151 | +30.9% |
| Intangible fixed assets | 21 | €2,021 | €1,106 | -€915 | -45.3% |
| Tangible fixed assets | 22/27 | €220,646 | €344,876 | +€124,230 | +56.3% |
| Land and buildings | 22 | - | €116,182 | +€116,182 | |
| Plant, machinery and equipment | 23 | €7,670 | €18,225 | +€10,555 | +137.6% |
| Furniture and vehicles | 24 | €184,968 | €191,959 | +€6,991 | +3.8% |
| Other tangible fixed assets | 26 | €28,008 | €18,510 | -€9,498 | -33.9% |
| Financial fixed assets | 28 | €178,853 | €179,690 | +€837 | +0.5% |
| Current assets | 29/58 | €4,695,704 | €4,370,706 | -€324,998 | -6.9% |
| Stocks and contracts in progress | 3 | €324,055 | €401,846 | +€77,791 | +24.0% |
| Stocks | 30/36 | €324,055 | €401,846 | +€77,791 | +24.0% |
| Amounts receivable within one year | 40/41 | €2,373,553 | €2,172,885 | -€200,668 | -8.5% |
| Trade receivables | 40 | €2,313,277 | €2,035,189 | -€278,088 | -12.0% |
| Other amounts receivable | 41 | €60,276 | €137,696 | +€77,420 | +128.4% |
| Cash at bank and in hand | 54/58 | €1,566,850 | €1,369,912 | -€196,938 | -12.6% |
| Deferred charges and accrued income | 490/1 | €431,246 | €426,063 | -€5,183 | -1.2% |
| Total equity and liabilities | 10/49 | €5,097,224 | €4,896,378 | -€200,846 | -3.9% |
| Equity | 10/15 | €2,925,548 | €2,925,548 | = | 0.0% |
| Contributions | 10/11 | €80,734 | €80,734 | = | 0.0% |
| Capital | 10 | €80,734 | €80,734 | = | 0.0% |
| Issued capital | 100 | €80,734 | €80,734 | = | 0.0% |
| Reserves | 13 | €2,695,434 | €2,695,434 | = | 0.0% |
| Non-distributable reserves | 130/1 | €460,410 | €460,410 | = | 0.0% |
| Legal reserve | 130 | €8,073 | €8,073 | = | 0.0% |
| Other | 1319 | €452,336 | €452,336 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,552 | €18,552 | = | 0.0% |
| Distributable reserves | 133 | €2,216,472 | €2,216,472 | = | 0.0% |
| Profit (loss) carried forward | 14 | €149,380 | €149,380 | = | 0.0% |
| Provisions and deferred taxes | 16 | €41,800 | €41,800 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €41,800 | €41,800 | = | 0.0% |
| Other liabilities and charges | 164/5 | €41,800 | €41,800 | = | 0.0% |
| Amounts payable | 17/49 | €2,129,876 | €1,929,029 | -€200,846 | -9.4% |
| Amounts payable after more than one year | 17 | €48,732 | €48,732 | = | 0.0% |
| Other amounts payable | 178/9 | €48,732 | €48,732 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,081,144 | €1,880,298 | -€200,846 | -9.7% |
| Trade debts | 44 | €1,393,709 | €1,391,398 | -€2,312 | -0.2% |
| Suppliers | 440/4 | €1,393,709 | €1,391,398 | -€2,312 | -0.2% |
| Taxes, remuneration and social security | 45 | €190,748 | €109,282 | -€81,467 | -42.7% |
| Taxes | 450/3 | €53,687 | €13,884 | -€39,804 | -74.1% |
| Remuneration and social security | 454/9 | €137,061 | €95,398 | -€41,663 | -30.4% |
| Other amounts payable | 47/48 | €496,686 | €379,618 | -€117,068 | -23.6% |
| Non-recurring operating income | 76A | €826 | €496 | -€331 | -40.0% |
| Remuneration, social security and pensions | 62 | €1,411,010 | €1,505,764 | +€94,754 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,788 | €83,282 | +€15,494 | +22.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €9,350 | €2,335 | -€7,015 | -75.0% |
| Gross operating margin | 9900 | €2,052,960 | €2,132,808 | +€79,848 | +3.9% |
| Operating profit (loss) | 9901 | €564,812 | €541,427 | -€23,386 | -4.1% |
| Financial income | 75/76B | €86,709 | €26,227 | -€60,483 | -69.8% |
| Recurring financial income | 75 | €86,709 | €26,227 | -€60,483 | -69.8% |
| Financial charges | 65/66B | €193,650 | €81,919 | -€111,731 | -57.7% |
| Recurring financial charges | 65 | €193,650 | €81,919 | -€111,731 | -57.7% |
| Profit (loss) for the period before taxes | 9903 | €457,872 | €485,735 | +€27,863 | +6.1% |
| Income taxes | 67/77 | €126,736 | €128,459 | +€1,723 | +1.4% |
| Profit (loss) for the period | 9904 | €331,135 | €357,276 | +€26,140 | +7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €331,135 | €357,276 | +€26,140 | +7.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.