STELAS: 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.
STELAS
Largest movements
- Tangible fixed assets -€10,044
down €10,044 (-16.2%), from €61,956 to €51,912
of which Land and buildings: -€11,386
- Cash -€8,167
down €8,167 (-23.9%), from €34,200 to €26,033
mainly Net result for the year (-€115,994) and Current portion of long-term debt (-€10,737)
- Stocks and contracts -€5,530
down €5,530 (-19.8%), from €27,965 to €22,435
- Deferred charges and accrued income -€3,166
down €3,166 (-38.0%), from €8,333 to €5,167
- Profit (loss) carried forward -€115,994
down €115,994 (-62.6%), from -€185,308 to -€301,301
- Trade debts +€102,436
up €102,436 (+191%), from €53,572 to €156,008
- Current portion of long-term debt -€10,737
down €10,737 (-35.5%), from €30,204 to €19,467
- Other debts -€4,839
no longer reported in 2024 (was €4,839)
- Gross operating margin -€155,617
down €155,617 (-36.4%), from €427,030 to €271,414
- Staff costs -€95,925
down €95,925 (-22.5%), from €425,825 to €329,900
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,097 | €129,195 | -€27,902 | -17.8% |
| Fixed assets | 21/28 | €61,956 | €51,912 | -€10,044 | -16.2% |
| Tangible fixed assets | 22/27 | €61,956 | €51,912 | -€10,044 | -16.2% |
| Land and buildings | 22 | €53,433 | €42,047 | -€11,386 | -21.3% |
| Plant, machinery and equipment | 23 | €7,077 | €9,644 | +€2,568 | +36.3% |
| Furniture and vehicles | 24 | €1,446 | €221 | -€1,225 | -84.7% |
| Current assets | 29/58 | €95,142 | €77,283 | -€17,859 | -18.8% |
| Stocks and contracts in progress | 3 | €27,965 | €22,435 | -€5,530 | -19.8% |
| Stocks | 30/36 | €27,965 | €22,435 | -€5,530 | -19.8% |
| Amounts receivable within one year | 40/41 | €24,645 | €23,648 | -€996 | -4.0% |
| Trade receivables | 40 | €6,133 | €5,380 | -€754 | -12.3% |
| Other amounts receivable | 41 | €18,511 | €18,269 | -€242 | -1.3% |
| Cash at bank and in hand | 54/58 | €34,200 | €26,033 | -€8,167 | -23.9% |
| Deferred charges and accrued income | 490/1 | €8,333 | €5,167 | -€3,166 | -38.0% |
| Total equity and liabilities | 10/49 | €157,097 | €129,195 | -€27,902 | -17.8% |
| Equity | 10/15 | -€164,857 | -€280,850 | -€115,994 | -70.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€185,308 | -€301,301 | -€115,994 | -62.6% |
| Amounts payable | 17/49 | €321,954 | €410,045 | +€88,091 | +27.4% |
| Amounts payable within one year | 42/48 | €321,954 | €410,045 | +€88,091 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €30,204 | €19,467 | -€10,737 | -35.5% |
| Trade debts | 44 | €53,572 | €156,008 | +€102,436 | +191% |
| Suppliers | 440/4 | €53,572 | €156,008 | +€102,436 | +191% |
| Taxes, remuneration and social security | 45 | €233,340 | €234,571 | +€1,231 | +0.5% |
| Taxes | 450/3 | €100,215 | €102,547 | +€2,332 | +2.3% |
| Remuneration and social security | 454/9 | €133,125 | €132,024 | -€1,101 | -0.8% |
| Other amounts payable | 47/48 | €4,839 | - | -€4,839 | |
| Remuneration, social security and pensions | 62 | €425,825 | €329,900 | -€95,925 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,988 | €15,701 | +€713 | +4.8% |
| Other operating charges | 640/8 | €20,327 | €21,534 | +€1,207 | +5.9% |
| Gross operating margin | 9900 | €427,030 | €271,414 | -€155,617 | -36.4% |
| Operating profit (loss) | 9901 | -€34,109 | -€95,721 | -€61,612 | -181% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €16,826 | €20,288 | +€3,462 | +20.6% |
| Recurring financial charges | 65 | €16,826 | €20,288 | +€3,462 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | -€50,935 | -€115,994 | -€65,058 | -128% |
| Profit (loss) for the period | 9904 | -€50,935 | -€115,994 | -€65,058 | -128% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,935 | -€115,994 | -€65,058 | -128% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.