STAVELOTBOIS: 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.
STAVELOTBOIS
Largest movements
- Cash +€38,406
up €38,406 (+593%), from €6,475 to €44,881
mainly Stocks and contracts (+€31,210) and Trade debts (+€16,043)
- Stocks and contracts -€31,210
down €31,210 (-9.0%), from €344,900 to €313,690
- Receivables within one year +€7,015
up €7,015 (+19.6%), from €35,754 to €42,769
of which Trade receivables: +€9,593
- Tangible fixed assets -€6,386
down €6,386 (-38.3%), from €16,655 to €10,269
of which Furniture and vehicles: -€4,825
- Financial fixed assets -€6,000
down €6,000 (-54.2%), from €11,072 to €5,072
- Short-term financial debts -€38,310
no longer reported in 2025 (was €38,310)
- Trade debts +€16,043
up €16,043 (+695%), from €2,310 to €18,353
- Reserves +€13,100
up €13,100 (+7.2%), from €181,720 to €194,820
of which Distributable reserves: +€13,100
- Tax, wage and social debts +€6,107
up €6,107 (+424%), from €1,439 to €7,546
- Other debts +€4,800
up €4,800 (+1,010%), from €475 to €5,275
- Gross operating margin +€41,773
up €41,773, from -€10,082 to €31,692
- Taxes +€5,886
up €5,886 (+475%), from €1,239 to €7,125
- Depreciation +€3,664
up €3,664 (+135%), from €2,722 to €6,386
- Financial charges +€438
up €438 (+14.0%), from €3,120 to €3,559
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 | €414,856 | €416,681 | +€1,825 | +0.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €27,727 | €15,341 | -€12,386 | -44.7% |
| Tangible fixed assets | 22/27 | €16,655 | €10,269 | -€6,386 | -38.3% |
| Plant, machinery and equipment | 23 | €3,340 | €1,780 | -€1,560 | -46.7% |
| Furniture and vehicles | 24 | €13,314 | €8,489 | -€4,825 | -36.2% |
| Financial fixed assets | 28 | €11,072 | €5,072 | -€6,000 | -54.2% |
| Current assets | 29/58 | €387,129 | €401,340 | +€14,211 | +3.7% |
| Stocks and contracts in progress | 3 | €344,900 | €313,690 | -€31,210 | -9.0% |
| Stocks | 30/36 | €344,900 | €313,690 | -€31,210 | -9.0% |
| Amounts receivable within one year | 40/41 | €35,754 | €42,769 | +€7,015 | +19.6% |
| Trade receivables | 40 | €33,176 | €42,769 | +€9,593 | +28.9% |
| Other amounts receivable | 41 | €2,578 | - | -€2,578 | |
| Cash at bank and in hand | 54/58 | €6,475 | €44,881 | +€38,406 | +593% |
| Total equity and liabilities | 10/49 | €414,856 | €416,681 | +€1,825 | +0.4% |
| Equity | 10/15 | €367,179 | €380,377 | +€13,198 | +3.6% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €181,720 | €194,820 | +€13,100 | +7.2% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €169,720 | €182,820 | +€13,100 | +7.7% |
| Profit (loss) carried forward | 14 | €65,459 | €65,557 | +€98 | +0.2% |
| Amounts payable | 17/49 | €47,677 | €36,304 | -€11,373 | -23.9% |
| Amounts payable within one year | 42/48 | €42,535 | €31,174 | -€11,360 | -26.7% |
| Financial debts | 43 | €38,310 | - | -€38,310 | |
| Credit institutions | 430/8 | €38,310 | - | -€38,310 | |
| Trade debts | 44 | €2,310 | €18,353 | +€16,043 | +695% |
| Suppliers | 440/4 | €2,310 | €18,353 | +€16,043 | +695% |
| Taxes, remuneration and social security | 45 | €1,439 | €7,546 | +€6,107 | +424% |
| Taxes | 450/3 | €1,439 | €7,546 | +€6,107 | +424% |
| Other amounts payable | 47/48 | €475 | €5,275 | +€4,800 | +1,010% |
| Accrued charges and deferred income | 492/3 | €5,142 | €5,130 | -€13 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,722 | €6,386 | +€3,664 | +135% |
| Other operating charges | 640/8 | €1,400 | €1,433 | +€33 | +2.3% |
| Gross operating margin | 9900 | -€10,082 | €31,692 | +€41,773 | |
| Operating profit (loss) | 9901 | -€14,204 | €23,873 | +€38,077 | |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €3,120 | €3,559 | +€438 | +14.0% |
| Recurring financial charges | 65 | €3,120 | €3,559 | +€438 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,324 | €20,323 | +€37,647 | |
| Income taxes | 67/77 | €1,239 | €7,125 | +€5,886 | +475% |
| Profit (loss) for the period | 9904 | -€18,563 | €13,198 | +€31,762 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,563 | €13,198 | +€31,762 |
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 30 October 2026 via checked.be.