STELA GROUP: 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.
STELA GROUP
Largest movements
- Receivables within one year +€14,508
up €14,508 (+60.3%), from €24,073 to €38,581
of which Other amounts receivable: +€9,636
- Tangible fixed assets +€1,582
new in 2025: €1,582
- Profit (loss) carried forward +€9,109
up €9,109 (+39.1%), from €23,326 to €32,436
- Tax, wage and social debts +€4,744
up €4,744 (+230%), from €2,059 to €6,802
- Trade debts +€2,554
new in 2025: €2,554
- Gross operating margin +€9,824
up €9,824 (+124%), from €7,940 to €17,764
- Taxes +€3,801
up €3,801 (+189%), from €2,007 to €5,808
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 | €25,385 | €41,792 | +€16,407 | +64.6% |
| Fixed assets | 21/28 | - | €1,582 | +€1,582 | |
| Tangible fixed assets | 22/27 | - | €1,582 | +€1,582 | |
| Furniture and vehicles | 24 | - | €1,582 | +€1,582 | |
| Current assets | 29/58 | €25,385 | €40,210 | +€14,825 | +58.4% |
| Amounts receivable within one year | 40/41 | €24,073 | €38,581 | +€14,508 | +60.3% |
| Trade receivables | 40 | €7,093 | €11,966 | +€4,872 | +68.7% |
| Other amounts receivable | 41 | €16,980 | €26,616 | +€9,636 | +56.7% |
| Cash at bank and in hand | 54/58 | €1,312 | €1,629 | +€317 | +24.1% |
| Total equity and liabilities | 10/49 | €25,385 | €41,792 | +€16,407 | +64.6% |
| Equity | 10/15 | €23,326 | €32,436 | +€9,109 | +39.1% |
| Profit (loss) carried forward | 14 | €23,326 | €32,436 | +€9,109 | +39.1% |
| Amounts payable | 17/49 | €2,059 | €9,356 | +€7,297 | +354% |
| Amounts payable within one year | 42/48 | €2,059 | €9,356 | +€7,297 | +354% |
| Trade debts | 44 | - | €2,554 | +€2,554 | |
| Suppliers | 440/4 | - | €2,554 | +€2,554 | |
| Taxes, remuneration and social security | 45 | €2,059 | €6,802 | +€4,744 | +230% |
| Taxes | 450/3 | €2,059 | €6,802 | +€4,744 | +230% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,400 | €1,228 | -€172 | -12.3% |
| Other operating charges | 640/8 | €1,400 | €1,572 | +€172 | +12.3% |
| Gross operating margin | 9900 | €7,940 | €17,764 | +€9,824 | +124% |
| Operating profit (loss) | 9901 | €5,140 | €14,964 | +€9,824 | +191% |
| Financial charges | 65/66B | €91 | €46 | -€45 | -49.0% |
| Recurring financial charges | 65 | €91 | €46 | -€45 | -49.0% |
| Profit (loss) for the period before taxes | 9903 | €5,049 | €14,917 | +€9,868 | +195% |
| Income taxes | 67/77 | €2,007 | €5,808 | +€3,801 | +189% |
| Profit (loss) for the period | 9904 | €3,042 | €9,109 | +€6,067 | +199% |
| Profit (loss) for the period to be appropriated | 9905 | €3,042 | €9,109 | +€6,067 | +199% |
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 19 October 2026 via checked.be.