STELEN EXPANSION: what changed
STELEN EXPANSION
Largest movements
- Receivables within one year +€20,802
up €20,802 (+40.3%), from €51,631 to €72,433
of which Trade receivables: +€25,838
- Tangible fixed assets +€1,771
up €1,771 (+40.2%), from €4,409 to €6,179
of which Furniture and vehicles: +€2,313
- Trade debts +€16,557
up €16,557 (+253%), from €6,551 to €23,108
- Short-term financial debts +€8,422
new in 2024: €8,422
of which Credit institutions: +€5,567
- Other debts +€7,158
up €7,158 (+112%), from €6,363 to €13,521
- Profit (loss) carried forward -€5,600
down €5,600 (-53.3%), from €10,512 to €4,912
- Current portion of long-term debt -€4,721
no longer reported in 2024 (was €4,721)
- Financial charges +€2,088
up €2,088 (+41.9%), from €4,977 to €7,065
- Gross operating margin -€1,545
down €1,545 (-22.8%), from €6,784 to €5,239
- Depreciation +€565
up €565 (+104%), from €543 to €1,107
- Taxes +€545
up €545 (+87.1%), from €626 to €1,171
- Other operating charges +€145
up €145 (+10.8%), from €1,351 to €1,496
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,596 | €80,274 | +€21,678 | +37.0% |
| Fixed assets | 21/28 | €4,409 | €6,179 | +€1,771 | +40.2% |
| Tangible fixed assets | 22/27 | €4,409 | €6,179 | +€1,771 | +40.2% |
| Land and buildings | 22 | €4,409 | €3,866 | -€543 | -12.3% |
| Furniture and vehicles | 24 | - | €2,313 | +€2,313 | |
| Current assets | 29/58 | €54,187 | €74,094 | +€19,907 | +36.7% |
| Amounts receivable within one year | 40/41 | €51,631 | €72,433 | +€20,802 | +40.3% |
| Trade receivables | 40 | €24,121 | €49,960 | +€25,838 | +107% |
| Other amounts receivable | 41 | €27,509 | €22,473 | -€5,036 | -18.3% |
| Cash at bank and in hand | 54/58 | €614 | - | -€614 | |
| Deferred charges and accrued income | 490/1 | €1,942 | €1,661 | -€281 | -14.5% |
| Total equity and liabilities | 10/49 | €58,596 | €80,274 | +€21,678 | +37.0% |
| Equity | 10/15 | €35,512 | €29,912 | -€5,600 | -15.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,512 | €4,912 | -€5,600 | -53.3% |
| Amounts payable | 17/49 | €23,083 | €50,361 | +€27,278 | +118% |
| Amounts payable within one year | 42/48 | €23,083 | €50,361 | +€27,278 | +118% |
| Current portion of amounts payable after more than one year | 42 | €4,721 | - | -€4,721 | |
| Financial debts | 43 | - | €8,422 | +€8,422 | |
| Credit institutions | 430/8 | - | €5,567 | +€5,567 | |
| Other loans | 439 | - | €2,854 | +€2,854 | |
| Trade debts | 44 | €6,551 | €23,108 | +€16,557 | +253% |
| Suppliers | 440/4 | €6,551 | €23,108 | +€16,557 | +253% |
| Taxes, remuneration and social security | 45 | €5,448 | €5,311 | -€137 | -2.5% |
| Taxes | 450/3 | €5,448 | €5,311 | -€137 | -2.5% |
| Other amounts payable | 47/48 | €6,363 | €13,521 | +€7,158 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €543 | €1,107 | +€565 | +104% |
| Other operating charges | 640/8 | €1,351 | €1,496 | +€145 | +10.8% |
| Gross operating margin | 9900 | €6,784 | €5,239 | -€1,545 | -22.8% |
| Operating profit (loss) | 9901 | €4,891 | €2,636 | -€2,255 | -46.1% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €4,977 | €7,065 | +€2,088 | +41.9% |
| Recurring financial charges | 65 | €4,977 | €7,065 | +€2,088 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | -€85 | -€4,429 | -€4,344 | -5,098% |
| Income taxes | 67/77 | €626 | €1,171 | +€545 | +87.1% |
| Profit (loss) for the period | 9904 | -€711 | -€5,600 | -€4,889 | -688% |
| Profit (loss) for the period to be appropriated | 9905 | -€711 | -€5,600 | -€4,889 | -688% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.