STELINE: what changed
Two fiscal 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.
STELINE
Largest movements
- Tangible fixed assets -€21,561
down €21,561 (-5.5%), from €389,400 to €367,839
of which Land and buildings: -€18,279
- Cash +€4,994
up €4,994 (+24.5%), from €20,396 to €25,390
mainly Depreciation (+€31,102) and Net result for the year (+€25,334)
- Other debts -€38,259
down €38,259 (-9.4%), from €408,098 to €369,839
- Profit (loss) carried forward +€25,334
up €25,334 (+47.8%), from -€52,952 to -€27,618
- Debts after one year -€5,083
down €5,083 (-61.3%), from €8,288 to €3,205
- Trade debts +€4,496
up €4,496 (+41.5%), from €10,821 to €15,316
- Gross operating margin +€13,731
up €13,731 (+27.6%), from €49,735 to €63,466
- Depreciation -€11,488
down €11,488 (-27.0%), from €42,590 to €31,102
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.
Cash bridge derived
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 | €417,989 | €403,443 | -€14,547 | -3.5% |
| Fixed assets | 21/28 | €390,377 | €368,816 | -€21,561 | -5.5% |
| Tangible fixed assets | 22/27 | €389,400 | €367,839 | -€21,561 | -5.5% |
| Land and buildings | 22 | €372,258 | €353,979 | -€18,279 | -4.9% |
| Plant, machinery and equipment | 23 | €9,397 | €6,443 | -€2,954 | -31.4% |
| Furniture and vehicles | 24 | €527 | €2,339 | +€1,811 | +343.4% |
| Other tangible fixed assets | 26 | €7,217 | €5,079 | -€2,138 | -29.6% |
| Financial fixed assets | 28 | €977 | €977 | = | 0.0% |
| Current assets | 29/58 | €27,613 | €34,627 | +€7,014 | +25.4% |
| Stocks and contracts in progress | 3 | €1,018 | €1,945 | +€927 | +91.1% |
| Stocks | 30/36 | €1,018 | €1,945 | +€927 | +91.1% |
| Amounts receivable within one year | 40/41 | €46 | €1,146 | +€1,100 | +2370.2% |
| Trade receivables | 40 | €46 | €493 | +€447 | +962.8% |
| Other amounts receivable | 41 | - | €653 | +€653 | |
| Cash at bank and in hand | 54/58 | €20,396 | €25,390 | +€4,994 | +24.5% |
| Deferred charges and accrued income | 490/1 | €6,152 | €6,146 | -€7 | -0.1% |
| Total equity and liabilities | 10/49 | €417,989 | €403,443 | -€14,547 | -3.5% |
| Equity | 10/15 | -€15,766 | €9,568 | +€25,334 | |
| Contributions | 10/11 | €37,186 | €37,186 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,952 | -€27,618 | +€25,334 | +47.8% |
| Amounts payable | 17/49 | €433,756 | €393,875 | -€39,881 | -9.2% |
| Amounts payable after more than one year | 17 | €8,288 | €3,205 | -€5,083 | -61.3% |
| Financial debts | 170/4 | €8,288 | €3,205 | -€5,083 | -61.3% |
| Amounts payable within one year | 42/48 | €425,467 | €390,669 | -€34,798 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €4,864 | €5,083 | +€219 | +4.5% |
| Trade debts | 44 | €10,821 | €15,316 | +€4,496 | +41.5% |
| Suppliers | 440/4 | €10,821 | €15,316 | +€4,496 | +41.5% |
| Taxes, remuneration and social security | 45 | €1,684 | €431 | -€1,253 | -74.4% |
| Taxes | 450/3 | €1,684 | €431 | -€1,253 | -74.4% |
| Other amounts payable | 47/48 | €408,098 | €369,839 | -€38,259 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,590 | €31,102 | -€11,488 | -27.0% |
| Other operating charges | 640/8 | €5,532 | €5,803 | +€271 | +4.9% |
| Gross operating margin | 9900 | €49,735 | €63,466 | +€13,731 | +27.6% |
| Operating profit (loss) | 9901 | €1,613 | €26,561 | +€24,948 | +1546.4% |
| Financial income | 75/76B | €45 | €70 | +€25 | +55.1% |
| Recurring financial income | 75 | €45 | €70 | +€25 | +55.1% |
| Financial charges | 65/66B | €1,141 | €866 | -€275 | -24.1% |
| Recurring financial charges | 65 | €1,141 | €866 | -€275 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €517 | €25,765 | +€25,248 | +4881.0% |
| Income taxes | 67/77 | €179 | €431 | +€252 | +140.5% |
| Profit (loss) for the period | 9904 | €338 | €25,334 | +€24,996 | +7394.4% |
| Profit (loss) for the period to be appropriated | 9905 | €338 | €25,334 | +€24,996 | +7394.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.