STELIE: 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.
STELIE
Largest movements
- Current investments +€400,000
up €400,000, from €0 to €400,000
- Cash -€397,311
down €397,311 (-88.9%), from €446,692 to €49,382
mainly Current investments (-€400,000) and Investment in fixed assets (net) (-€115,096)
- Reserves +€116,710
up €116,710 (+23.7%), from €492,902 to €609,612
of which Distributable reserves: +€116,710
- Other debts -€58,820
down €58,820 (-43.6%), from €134,860 to €76,040
- Current portion of long-term debt -€28,739
down €28,739 (-100%), from €28,739 to €0
- Tax, wage and social debts -€28,635
down €28,635 (-63.2%), from €45,344 to €16,709
- Gross operating margin -€102,041
down €102,041 (-26.5%), from €384,342 to €282,301
- Taxes -€44,660
down €44,660 (-47.9%), from €93,195 to €48,535
- Depreciation +€11,566
up €11,566 (+12.6%), from €91,542 to €103,108
- Financial charges -€7,613
down €7,613 (-46.1%), from €16,523 to €8,910
- Financial income -€7,541
down €7,541 (-100.0%), from €7,542 to €1
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 | €2,330,724 | €2,332,556 | +€1,833 | +0.1% |
| Fixed assets | 21/28 | €1,861,386 | €1,873,374 | +€11,988 | +0.6% |
| Tangible fixed assets | 22/27 | €1,860,636 | €1,872,624 | +€11,988 | +0.6% |
| Land and buildings | 22 | €1,767,849 | €1,731,749 | -€36,100 | -2.0% |
| Plant, machinery and equipment | 23 | €5,377 | €3,874 | -€1,502 | -27.9% |
| Furniture and vehicles | 24 | €87,410 | €137,001 | +€49,590 | +56.7% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €469,338 | €459,182 | -€10,155 | -2.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €22,645 | €9,801 | -€12,845 | -56.7% |
| Trade receivables | 40 | €22,645 | €9,801 | -€12,845 | -56.7% |
| Current investments | 50/53 | €0 | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €446,692 | €49,382 | -€397,311 | -88.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,330,724 | €2,332,556 | +€1,833 | +0.1% |
| Equity | 10/15 | €2,109,902 | €2,226,612 | +€116,710 | +5.5% |
| Contributions | 10/11 | €1,617,000 | €1,617,000 | = | 0.0% |
| Capital | 10 | €1,617,000 | €1,617,000 | = | 0.0% |
| Issued capital | 100 | €1,651,000 | €1,651,000 | = | 0.0% |
| Uncalled capital | 101 | €34,000 | €34,000 | = | 0.0% |
| Reserves | 13 | €492,902 | €609,612 | +€116,710 | +23.7% |
| Non-distributable reserves | 130/1 | €165,100 | €165,100 | = | 0.0% |
| Legal reserve | 130 | €165,100 | €165,100 | = | 0.0% |
| Distributable reserves | 133 | €327,802 | €444,512 | +€116,710 | +35.6% |
| Amounts payable | 17/49 | €220,822 | €105,944 | -€114,878 | -52.0% |
| Amounts payable within one year | 42/48 | €220,822 | €105,944 | -€114,878 | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €28,739 | €0 | -€28,739 | -100% |
| Trade debts | 44 | €11,878 | €13,195 | +€1,317 | +11.1% |
| Suppliers | 440/4 | €11,878 | €13,195 | +€1,317 | +11.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €45,344 | €16,709 | -€28,635 | -63.2% |
| Taxes | 450/3 | €45,344 | €16,709 | -€28,635 | -63.2% |
| Other amounts payable | 47/48 | €134,860 | €76,040 | -€58,820 | -43.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €36,944 | +€36,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,542 | €103,108 | +€11,566 | +12.6% |
| Other operating charges | 640/8 | €7,316 | €5,039 | -€2,277 | -31.1% |
| Gross operating margin | 9900 | €384,342 | €282,301 | -€102,041 | -26.5% |
| Operating profit (loss) | 9901 | €285,484 | €174,154 | -€111,331 | -39.0% |
| Financial income | 75/76B | €7,542 | €1 | -€7,541 | -100.0% |
| Recurring financial income | 75 | €7,542 | €1 | -€7,541 | -100.0% |
| Financial charges | 65/66B | €16,523 | €8,910 | -€7,613 | -46.1% |
| Recurring financial charges | 65 | €16,523 | €8,910 | -€7,613 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €276,503 | €165,245 | -€111,258 | -40.2% |
| Income taxes | 67/77 | €93,195 | €48,535 | -€44,660 | -47.9% |
| Profit (loss) for the period | 9904 | €183,308 | €116,710 | -€66,598 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €183,308 | €116,710 | -€66,598 | -36.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.