STELKA: 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.
STELKA
Largest movements
- Cash -€12,298
down €12,298 (-80.3%), from €15,319 to €3,021
mainly Net result for the year (-€18,203) and Tax, wage and social debts (-€9,009)
- Receivables within one year -€11,948
down €11,948 (-71.5%), from €16,713 to €4,764
of which Trade receivables: -€10,132
- Tangible fixed assets -€2,291
down €2,291 (-57.6%), from €3,978 to €1,687
of which Furniture and vehicles: -€1,604
- Profit (loss) carried forward -€18,203
down €18,203 (-301%), from -€6,041 to -€24,244
- Tax, wage and social debts -€9,009
no longer reported in 2025 (was €9,009)
of which Remuneration and social security: -€4,756
- Trade debts +€1,178
up €1,178 (+107%), from €1,102 to €2,279
- Current portion of long-term debt -€523
no longer reported in 2025 (was €523)
- Gross operating margin -€42,274
down €42,274, from €26,675 to -€15,599
- Staff costs -€24,391
no longer reported in 2025 (was €24,391)
- Taxes -€3,551
down €3,551, from €2,709 to -€841
- Financial charges -€1,168
down €1,168 (-76.8%), from €1,521 to €353
- Depreciation -€901
down €901 (-28.2%), from €3,192 to €2,291
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 | €39,087 | €12,529 | -€26,558 | -67.9% |
| Fixed assets | 21/28 | €3,978 | €1,687 | -€2,291 | -57.6% |
| Tangible fixed assets | 22/27 | €3,978 | €1,687 | -€2,291 | -57.6% |
| Plant, machinery and equipment | 23 | €2,263 | €1,576 | -€687 | -30.3% |
| Furniture and vehicles | 24 | €1,715 | €111 | -€1,604 | -93.5% |
| Current assets | 29/58 | €35,109 | €10,842 | -€24,267 | -69.1% |
| Amounts receivable within one year | 40/41 | €16,713 | €4,764 | -€11,948 | -71.5% |
| Trade receivables | 40 | €10,132 | - | -€10,132 | |
| Other amounts receivable | 41 | €6,581 | €4,764 | -€1,817 | -27.6% |
| Cash at bank and in hand | 54/58 | €15,319 | €3,021 | -€12,298 | -80.3% |
| Deferred charges and accrued income | 490/1 | €3,078 | €3,057 | -€21 | -0.7% |
| Total equity and liabilities | 10/49 | €39,087 | €12,529 | -€26,558 | -67.9% |
| Equity | 10/15 | €28,453 | €10,250 | -€18,203 | -64.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €28,294 | €28,294 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €26,434 | €26,434 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,041 | -€24,244 | -€18,203 | -301% |
| Amounts payable | 17/49 | €10,634 | €2,279 | -€8,355 | -78.6% |
| Amounts payable within one year | 42/48 | €10,634 | €2,279 | -€8,355 | -78.6% |
| Current portion of amounts payable after more than one year | 42 | €523 | - | -€523 | |
| Trade debts | 44 | €1,102 | €2,279 | +€1,178 | +107% |
| Suppliers | 440/4 | €1,102 | €2,279 | +€1,178 | +107% |
| Taxes, remuneration and social security | 45 | €9,009 | - | -€9,009 | |
| Taxes | 450/3 | €4,253 | - | -€4,253 | |
| Remuneration and social security | 454/9 | €4,756 | - | -€4,756 | |
| Remuneration, social security and pensions | 62 | €24,391 | - | -€24,391 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,192 | €2,291 | -€901 | -28.2% |
| Other operating charges | 640/8 | €902 | €801 | -€101 | -11.2% |
| Gross operating margin | 9900 | €26,675 | -€15,599 | -€42,274 | |
| Operating profit (loss) | 9901 | -€1,811 | -€18,691 | -€16,881 | -932% |
| Financial charges | 65/66B | €1,521 | €353 | -€1,168 | -76.8% |
| Recurring financial charges | 65 | €1,521 | €353 | -€1,168 | -76.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,332 | -€19,045 | -€15,713 | -472% |
| Income taxes | 67/77 | €2,709 | -€841 | -€3,551 | |
| Profit (loss) for the period | 9904 | -€6,041 | -€18,203 | -€12,162 | -201% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,041 | -€18,203 | -€12,162 | -201% |
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 28 October 2026 via checked.be.