STELEO: 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.
STELEO
Largest movements
- Tangible fixed assets -€20,454
down €20,454 (-24.7%), from €82,859 to €62,405
- Receivables within one year -€14,812
down €14,812 (-64.7%), from €22,880 to €8,067
of which Other amounts receivable: -€14,957
- Profit (loss) carried forward -€16,028
down €16,028, from €439 to -€15,589
- Debts after one year -€13,250
down €13,250 (-19.6%), from €67,596 to €54,347
- Current portion of long-term debt -€3,106
down €3,106 (-14.1%), from €22,033 to €18,928
- Trade debts -€1,463
down €1,463 (-20.7%), from €7,062 to €5,599
- Gross operating margin -€17,696
down €17,696 (-67.1%), from €26,368 to €8,672
- Depreciation +€4,660
up €4,660 (+27.7%), from €16,826 to €21,486
- Other operating charges -€1,372
down €1,372 (-64.8%), from €2,118 to €745
- Financial income +€878
up €878 (+189%), from €465 to €1,343
- Taxes -€745
down €745 (-87.8%), from €848 to €103
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 | €107,324 | €72,530 | -€34,794 | -32.4% |
| Fixed assets | 21/28 | €83,771 | €64,298 | -€19,474 | -23.2% |
| Intangible fixed assets | 21 | €912 | €1,893 | +€981 | +107% |
| Tangible fixed assets | 22/27 | €82,859 | €62,405 | -€20,454 | -24.7% |
| Land and buildings | 22 | €30,259 | €26,986 | -€3,273 | -10.8% |
| Plant, machinery and equipment | 23 | €9,319 | €710 | -€8,610 | -92.4% |
| Furniture and vehicles | 24 | €38,748 | €30,795 | -€7,953 | -20.5% |
| Other tangible fixed assets | 26 | €4,532 | €3,913 | -€619 | -13.7% |
| Current assets | 29/58 | €23,552 | €8,232 | -€15,320 | -65.0% |
| Amounts receivable within one year | 40/41 | €22,880 | €8,067 | -€14,812 | -64.7% |
| Trade receivables | 40 | €3,698 | €3,842 | +€144 | +3.9% |
| Other amounts receivable | 41 | €19,182 | €4,225 | -€14,957 | -78.0% |
| Cash at bank and in hand | 54/58 | €672 | €164 | -€508 | -75.6% |
| Total equity and liabilities | 10/49 | €107,324 | €72,530 | -€34,794 | -32.4% |
| Equity | 10/15 | €3,439 | -€12,589 | -€16,028 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €439 | -€15,589 | -€16,028 | |
| Amounts payable | 17/49 | €103,884 | €85,119 | -€18,766 | -18.1% |
| Amounts payable after more than one year | 17 | €67,596 | €54,347 | -€13,250 | -19.6% |
| Financial debts | 170/4 | €67,596 | €54,347 | -€13,250 | -19.6% |
| Amounts payable within one year | 42/48 | €36,288 | €30,772 | -€5,516 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €22,033 | €18,928 | -€3,106 | -14.1% |
| Trade debts | 44 | €7,062 | €5,599 | -€1,463 | -20.7% |
| Suppliers | 440/4 | €7,062 | €5,599 | -€1,463 | -20.7% |
| Taxes, remuneration and social security | 45 | €7,193 | €6,246 | -€947 | -13.2% |
| Taxes | 450/3 | €3,953 | €6,246 | +€2,292 | +58.0% |
| Remuneration and social security | 454/9 | €3,240 | €0 | -€3,240 | -100% |
| Non-recurring operating income | 76A | €33,032 | €0 | -€33,032 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,826 | €21,486 | +€4,660 | +27.7% |
| Other operating charges | 640/8 | €2,118 | €745 | -€1,372 | -64.8% |
| Non-recurring operating charges | 66A | €3,220 | €0 | -€3,220 | -100% |
| Gross operating margin | 9900 | €26,368 | €8,672 | -€17,696 | -67.1% |
| Operating profit (loss) | 9901 | €4,205 | -€13,559 | -€17,764 | |
| Financial income | 75/76B | €465 | €1,343 | +€878 | +189% |
| Recurring financial income | 75 | €465 | €1,343 | +€878 | +189% |
| Financial charges | 65/66B | €4,188 | €3,709 | -€478 | -11.4% |
| Recurring financial charges | 65 | €4,188 | €3,709 | -€478 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €482 | -€15,925 | -€16,407 | |
| Income taxes | 67/77 | €848 | €103 | -€745 | -87.8% |
| Profit (loss) for the period | 9904 | -€366 | -€16,028 | -€15,662 | -4,276% |
| Profit (loss) for the period to be appropriated | 9905 | -€366 | -€16,028 | -€15,662 | -4,276% |
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 15 October 2026 via checked.be.