STAPELHOEVE: 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.
STAPELHOEVE
Largest movements
- Cash +€13,839
up €13,839 (+193.2%), from €7,165 to €21,004
mainly Depreciation (+€10,933) and Stocks and contracts (+€9,862)
- Tangible fixed assets -€10,933
down €10,933 (-6.1%), from €179,440 to €168,507
of which Land and buildings: -€9,323
- Stocks and contracts -€9,862
down €9,862 (-79.0%), from €12,490 to €2,628
of which Contracts in progress: -€10,030
- Receivables within one year +€2,529
up €2,529 (+241.4%), from €1,048 to €3,577
of which Trade receivables: +€3,534
- Debts after one year -€13,017
down €13,017 (-10.1%), from €128,249 to €115,232
- Profit (loss) carried forward +€6,211
up €6,211 (+33.9%), from -€18,317 to -€12,106
- Short-term financial debts -€4,862
down €4,862 (-100.0%), from €4,862 to €0
- Tax, wage and social debts +€4,213
up €4,213 (+280.8%), from €1,500 to €5,713
of which Taxes: +€4,901
- Advances received +€3,570
new in 2025: €3,570
- Staff costs +€2,573
up €2,573 (+3256.1%), from €79 to €2,652
- Other operating charges -€2,273
down €2,273 (-42.0%), from €5,419 to €3,146
- Gross operating margin +€1,426
up €1,426 (+4.8%), from €29,922 to €31,348
- Financial charges -€869
down €869 (-8.2%), from €10,555 to €9,687
- Taxes +€548
up €548 (+118.2%), from €464 to €1,012
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 | €200,893 | €196,504 | -€4,389 | -2.2% |
| Fixed assets | 21/28 | €179,440 | €168,507 | -€10,933 | -6.1% |
| Tangible fixed assets | 22/27 | €179,440 | €168,507 | -€10,933 | -6.1% |
| Land and buildings | 22 | €174,798 | €165,476 | -€9,323 | -5.3% |
| Plant, machinery and equipment | 23 | €4,066 | €2,694 | -€1,371 | -33.7% |
| Furniture and vehicles | 24 | €576 | €337 | -€239 | -41.5% |
| Current assets | 29/58 | €21,453 | €27,996 | +€6,544 | +30.5% |
| Stocks and contracts in progress | 3 | €12,490 | €2,628 | -€9,862 | -79.0% |
| Stocks | 30/36 | €2,460 | €2,628 | +€168 | +6.8% |
| Contracts in progress | 37 | €10,030 | €0 | -€10,030 | -100.0% |
| Amounts receivable within one year | 40/41 | €1,048 | €3,577 | +€2,529 | +241.4% |
| Trade receivables | 40 | €0 | €3,534 | +€3,534 | |
| Other amounts receivable | 41 | €1,048 | €43 | -€1,005 | -95.9% |
| Cash at bank and in hand | 54/58 | €7,165 | €21,004 | +€13,839 | +193.2% |
| Deferred charges and accrued income | 490/1 | €750 | €787 | +€37 | +5.0% |
| Total equity and liabilities | 10/49 | €200,893 | €196,504 | -€4,389 | -2.2% |
| Equity | 10/15 | €21,953 | €26,305 | +€4,351 | +19.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,670 | €19,810 | -€1,860 | -8.6% |
| Distributable reserves | 133 | €21,670 | €19,810 | -€1,860 | -8.6% |
| Profit (loss) carried forward | 14 | -€18,317 | -€12,106 | +€6,211 | +33.9% |
| Amounts payable | 17/49 | €178,940 | €170,199 | -€8,741 | -4.9% |
| Amounts payable after more than one year | 17 | €128,249 | €115,232 | -€13,017 | -10.1% |
| Financial debts | 170/4 | €128,249 | €115,232 | -€13,017 | -10.1% |
| Amounts payable within one year | 42/48 | €50,691 | €54,967 | +€4,277 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €12,375 | €13,017 | +€642 | +5.2% |
| Financial debts | 43 | €4,862 | €0 | -€4,862 | -100.0% |
| Credit institutions | 430/8 | €4,862 | €0 | -€4,862 | -100.0% |
| Trade debts | 44 | €19,680 | €17,908 | -€1,771 | -9.0% |
| Suppliers | 440/4 | €19,680 | €17,908 | -€1,771 | -9.0% |
| Advances received on contracts in progress | 46 | - | €3,570 | +€3,570 | |
| Taxes, remuneration and social security | 45 | €1,500 | €5,713 | +€4,213 | +280.8% |
| Taxes | 450/3 | €812 | €5,713 | +€4,901 | +603.3% |
| Remuneration and social security | 454/9 | €688 | €0 | -€688 | -100.0% |
| Other amounts payable | 47/48 | €12,274 | €14,759 | +€2,485 | +20.2% |
| Remuneration, social security and pensions | 62 | €79 | €2,652 | +€2,573 | +3256.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,066 | €10,933 | -€133 | -1.2% |
| Other operating charges | 640/8 | €5,419 | €3,146 | -€2,273 | -42.0% |
| Gross operating margin | 9900 | €29,922 | €31,348 | +€1,426 | +4.8% |
| Operating profit (loss) | 9901 | €13,358 | €14,617 | +€1,259 | +9.4% |
| Financial income | 75/76B | €49 | €433 | +€385 | +788.0% |
| Recurring financial income | 75 | €49 | €433 | +€385 | +788.0% |
| Financial charges | 65/66B | €10,555 | €9,687 | -€869 | -8.2% |
| Recurring financial charges | 65 | €10,555 | €9,687 | -€869 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €2,852 | €5,364 | +€2,512 | +88.1% |
| Income taxes | 67/77 | €464 | €1,012 | +€548 | +118.2% |
| Profit (loss) for the period | 9904 | €2,388 | €4,351 | +€1,964 | +82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,388 | €4,351 | +€1,964 | +82.2% |
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 7 October 2026 via checked.be.