STALON: 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.
STALON
Largest movements
- Stocks and contracts +€56,439
up €56,439 (+41.3%), from €136,694 to €193,132
- Tangible fixed assets -€7,113
down €7,113 (-25.4%), from €28,003 to €20,890
of which Furniture and vehicles: -€6,400
- Cash -€6,013
down €6,013 (-100.0%), from €6,013 to €0
mainly Net result for the year (-€75,501) and Stocks and contracts (-€56,439)
- Debts after one year +€86,473
up €86,473 (+43.8%), from €197,310 to €283,783
of which Other amounts payable: +€92,800
- Profit (loss) carried forward -€75,501
down €75,501 (-101.1%), from -€74,708 to -€150,210
- Other debts +€30,267
up €30,267 (+122.9%), from €24,620 to €54,886
- Gross operating margin -€4,367
down €4,367 (-7.1%), from -€61,588 to -€65,955
- Depreciation +€1,259
up €1,259 (+21.5%), from €5,854 to €7,113
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 | €172,562 | €216,211 | +€43,649 | +25.3% |
| Fixed assets | 21/28 | €28,003 | €21,390 | -€6,613 | -23.6% |
| Tangible fixed assets | 22/27 | €28,003 | €20,890 | -€7,113 | -25.4% |
| Plant, machinery and equipment | 23 | €1,144 | €431 | -€713 | -62.3% |
| Furniture and vehicles | 24 | €26,859 | €20,459 | -€6,400 | -23.8% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €144,559 | €194,820 | +€50,262 | +34.8% |
| Stocks and contracts in progress | 3 | €136,694 | €193,132 | +€56,439 | +41.3% |
| Stocks | 30/36 | €136,694 | €193,132 | +€56,439 | +41.3% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,013 | €0 | -€6,013 | -100.0% |
| Deferred charges and accrued income | 490/1 | €1,852 | €1,688 | -€164 | -8.9% |
| Total equity and liabilities | 10/49 | €172,562 | €216,211 | +€43,649 | +25.3% |
| Equity | 10/15 | -€56,108 | -€131,610 | -€75,501 | -134.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,708 | -€150,210 | -€75,501 | -101.1% |
| Amounts payable | 17/49 | €228,670 | €347,820 | +€119,150 | +52.1% |
| Amounts payable after more than one year | 17 | €197,310 | €283,783 | +€86,473 | +43.8% |
| Financial debts | 170/4 | €21,510 | €15,183 | -€6,327 | -29.4% |
| Other amounts payable | 178/9 | €175,800 | €268,600 | +€92,800 | +52.8% |
| Amounts payable within one year | 42/48 | €31,360 | €64,038 | +€32,678 | +104.2% |
| Current portion of amounts payable after more than one year | 42 | €6,083 | €6,327 | +€245 | +4.0% |
| Financial debts | 43 | - | €503 | +€503 | |
| Credit institutions | 430/8 | - | €503 | +€503 | |
| Trade debts | 44 | €329 | €1,688 | +€1,358 | +412.4% |
| Suppliers | 440/4 | €329 | €1,688 | +€1,358 | +412.4% |
| Taxes, remuneration and social security | 45 | €328 | €633 | +€305 | +92.8% |
| Taxes | 450/3 | €328 | €633 | +€305 | +92.8% |
| Other amounts payable | 47/48 | €24,620 | €54,886 | +€30,267 | +122.9% |
| Non-recurring operating income | 76A | €13,967 | €0 | -€13,967 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,854 | €7,113 | +€1,259 | +21.5% |
| Other operating charges | 640/8 | €550 | €796 | +€246 | +44.7% |
| Gross operating margin | 9900 | -€61,588 | -€65,955 | -€4,367 | -7.1% |
| Operating profit (loss) | 9901 | -€67,991 | -€73,863 | -€5,872 | -8.6% |
| Financial charges | 65/66B | €1,171 | €1,333 | +€162 | +13.9% |
| Recurring financial charges | 65 | €1,171 | €1,333 | +€162 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | -€69,162 | -€75,196 | -€6,034 | -8.7% |
| Income taxes | 67/77 | €328 | €305 | -€23 | -7.0% |
| Profit (loss) for the period | 9904 | -€69,490 | -€75,501 | -€6,012 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,490 | -€75,501 | -€6,012 | -8.7% |
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 11 October 2026 via checked.be.