STELIECO: 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.
STELIECO
Largest movements
- Cash -€52,697
down €52,697 (-37.0%), from €142,481 to €89,784
mainly Net result for the year (-€45,355) and Debts after one year (-€10,000)
- Receivables within one year -€4,299
down €4,299 (-38.8%), from €11,070 to €6,771
of which Trade receivables: -€7,491
- Profit (loss) carried forward -€45,355
down €45,355 (-57.0%), from €79,540 to €34,185
- Debts after one year -€10,000
down €10,000 (-42.9%), from €23,334 to €13,334
- Tax, wage and social debts -€2,084
down €2,084 (-55.1%), from €3,782 to €1,698
- Accrued charges and deferred income -€1,800
down €1,800 (-40.0%), from €4,500 to €2,700
- Gross operating margin -€135,374
down €135,374, from €93,568 to -€41,806
- Depreciation -€42,281
down €42,281 (-99.4%), from €42,524 to €243
- Taxes -€10,547
down €10,547 (-97.2%), from €10,854 to €307
- Staff costs -€5,629
no longer reported in 2025 (was €5,629)
- Financial charges -€1,983
down €1,983 (-45.0%), from €4,407 to €2,424
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 | €155,117 | €96,802 | -€58,315 | -37.6% |
| Fixed assets | 21/28 | €490 | €247 | -€243 | -49.5% |
| Tangible fixed assets | 22/27 | €490 | €247 | -€243 | -49.5% |
| Plant, machinery and equipment | 23 | €161 | - | -€161 | |
| Furniture and vehicles | 24 | €329 | €247 | -€82 | -24.8% |
| Current assets | 29/58 | €154,627 | €96,555 | -€58,072 | -37.6% |
| Amounts receivable within one year | 40/41 | €11,070 | €6,771 | -€4,299 | -38.8% |
| Trade receivables | 40 | €11,070 | €3,579 | -€7,491 | -67.7% |
| Other amounts receivable | 41 | - | €3,193 | +€3,193 | |
| Cash at bank and in hand | 54/58 | €142,481 | €89,784 | -€52,697 | -37.0% |
| Deferred charges and accrued income | 490/1 | €1,076 | - | -€1,076 | |
| Total equity and liabilities | 10/49 | €155,117 | €96,802 | -€58,315 | -37.6% |
| Equity | 10/15 | €111,816 | €66,461 | -€45,355 | -40.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €26,076 | €26,076 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €24,216 | €24,216 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,540 | €34,185 | -€45,355 | -57.0% |
| Amounts payable | 17/49 | €43,301 | €30,341 | -€12,960 | -29.9% |
| Amounts payable after more than one year | 17 | €23,334 | €13,334 | -€10,000 | -42.9% |
| Financial debts | 170/4 | €23,334 | €13,334 | -€10,000 | -42.9% |
| Amounts payable within one year | 42/48 | €15,467 | €14,307 | -€1,160 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €94 | €1,402 | +€1,308 | +1,387% |
| Suppliers | 440/4 | €94 | €1,402 | +€1,308 | +1,387% |
| Taxes, remuneration and social security | 45 | €3,782 | €1,698 | -€2,084 | -55.1% |
| Taxes | 450/3 | €3,782 | €1,698 | -€2,084 | -55.1% |
| Other amounts payable | 47/48 | €1,591 | €1,207 | -€384 | -24.1% |
| Accrued charges and deferred income | 492/3 | €4,500 | €2,700 | -€1,800 | -40.0% |
| Remuneration, social security and pensions | 62 | €5,629 | - | -€5,629 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,524 | €243 | -€42,281 | -99.4% |
| Other operating charges | 640/8 | €710 | €575 | -€135 | -19.1% |
| Non-recurring operating charges | 66A | €5,237 | - | -€5,237 | |
| Gross operating margin | 9900 | €93,568 | -€41,806 | -€135,374 | |
| Operating profit (loss) | 9901 | €39,468 | -€42,623 | -€82,092 | |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €4,407 | €2,424 | -€1,983 | -45.0% |
| Recurring financial charges | 65 | €4,407 | €2,424 | -€1,983 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €35,070 | -€45,047 | -€80,117 | |
| Income taxes | 67/77 | €10,854 | €307 | -€10,547 | -97.2% |
| Profit (loss) for the period | 9904 | €24,216 | -€45,355 | -€69,570 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,216 | -€45,355 | -€69,570 |
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 20 October 2026 via checked.be.