STAPPATO: 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.
STAPPATO
Largest movements
- Tangible fixed assets +€166,581
up €166,581 (+8.9%), from €1.9m to €2.0m
of which Land and buildings: +€220,458
- Stocks and contracts +€90,774
up €90,774 (+10.3%), from €880,450 to €971,224
- Current investments -€80,000
down €80,000 (-34.8%), from €230,000 to €150,000
- Receivables within one year +€62,124
up €62,124 (+44.7%), from €138,989 to €201,113
- Reserves +€188,117
up €188,117 (+8.8%), from €2.1m to €2.3m
of which Distributable reserves: +€196,670
- Current portion of long-term debt +€84,059
up €84,059 (+45.7%), from €184,065 to €268,124
- Tax, wage and social debts -€56,996
down €56,996 (-51.6%), from €110,359 to €53,363
- Debts after one year +€49,546
up €49,546 (+6.5%), from €763,090 to €812,636
- Gross operating margin -€396,144
down €396,144 (-34.9%), from €1.1m to €739,945
- Taxes -€122,365
down €122,365 (-41.6%), from €294,253 to €171,888
- Staff costs +€48,945
new in 2025: €48,945
- Other operating charges +€31,921
up €31,921 (+497.7%), from €6,413 to €38,334
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 | €3,257,272 | €3,516,171 | +€258,900 | +7.9% |
| Fixed assets | 21/28 | €1,968,394 | €2,134,975 | +€166,581 | +8.5% |
| Tangible fixed assets | 22/27 | €1,867,908 | €2,034,489 | +€166,581 | +8.9% |
| Land and buildings | 22 | €1,782,803 | €2,003,261 | +€220,458 | +12.4% |
| Plant, machinery and equipment | 23 | €12,362 | €7,895 | -€4,467 | -36.1% |
| Furniture and vehicles | 24 | €8,000 | €6,533 | -€1,467 | -18.3% |
| Other tangible fixed assets | 26 | €45,444 | €16,800 | -€28,644 | -63.0% |
| Assets under construction and advance payments | 27 | €19,300 | - | -€19,300 | |
| Financial fixed assets | 28 | €100,486 | €100,486 | = | 0.0% |
| Current assets | 29/58 | €1,288,878 | €1,381,197 | +€92,319 | +7.2% |
| Stocks and contracts in progress | 3 | €880,450 | €971,224 | +€90,774 | +10.3% |
| Stocks | 30/36 | €880,450 | €971,224 | +€90,774 | +10.3% |
| Amounts receivable within one year | 40/41 | €138,989 | €201,113 | +€62,124 | +44.7% |
| Trade receivables | 40 | €138,989 | €201,113 | +€62,124 | +44.7% |
| Current investments | 50/53 | €230,000 | €150,000 | -€80,000 | -34.8% |
| Cash at bank and in hand | 54/58 | €39,439 | €58,860 | +€19,421 | +49.2% |
| Total equity and liabilities | 10/49 | €3,257,272 | €3,516,171 | +€258,900 | +7.9% |
| Equity | 10/15 | €2,193,931 | €2,382,048 | +€188,117 | +8.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €2,132,431 | €2,320,548 | +€188,117 | +8.8% |
| Non-distributable reserves | 130/1 | €8,553 | - | -€8,553 | |
| Legal reserve | 130 | €8,553 | - | -€8,553 | |
| Tax-exempt reserves | 132 | €210,500 | €210,500 | = | 0.0% |
| Distributable reserves | 133 | €1,913,378 | €2,110,048 | +€196,670 | +10.3% |
| Amounts payable | 17/49 | €1,063,341 | €1,134,123 | +€70,782 | +6.7% |
| Amounts payable after more than one year | 17 | €763,090 | €812,636 | +€49,546 | +6.5% |
| Financial debts | 170/4 | €763,090 | €812,636 | +€49,546 | +6.5% |
| Amounts payable within one year | 42/48 | €300,251 | €321,487 | +€21,236 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €184,065 | €268,124 | +€84,059 | +45.7% |
| Trade debts | 44 | €5,827 | - | -€5,827 | |
| Suppliers | 440/4 | €5,827 | - | -€5,827 | |
| Taxes, remuneration and social security | 45 | €110,359 | €53,363 | -€56,996 | -51.6% |
| Taxes | 450/3 | €110,359 | €53,363 | -€56,996 | -51.6% |
| Remuneration, social security and pensions | 62 | - | €48,945 | +€48,945 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,068 | €117,703 | +€2,635 | +2.3% |
| Other operating charges | 640/8 | €6,413 | €38,334 | +€31,921 | +497.7% |
| Gross operating margin | 9900 | €1,136,089 | €739,945 | -€396,144 | -34.9% |
| Operating profit (loss) | 9901 | €1,014,607 | €534,963 | -€479,644 | -47.3% |
| Financial income | 75/76B | €17,483 | €6,615 | -€10,868 | -62.2% |
| Recurring financial income | 75 | €9,189 | €6,213 | -€2,976 | -32.4% |
| Non-recurring financial income | 76B | €8,294 | €402 | -€7,892 | -95.2% |
| Financial charges | 65/66B | €26,704 | €16,409 | -€10,295 | -38.6% |
| Recurring financial charges | 65 | €26,704 | €16,409 | -€10,295 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €1,005,386 | €525,169 | -€480,217 | -47.8% |
| Income taxes | 67/77 | €294,253 | €171,888 | -€122,365 | -41.6% |
| Profit (loss) for the period | 9904 | €711,133 | €353,281 | -€357,852 | -50.3% |
| Transfer to tax-exempt reserves | 689 | €210,500 | - | -€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €500,633 | €353,281 | -€147,352 | -29.4% |
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 8 October 2026 via checked.be.