Stella: 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.
Stella
Largest movements
- Receivables within one year +€33,120
up €33,120 (+49.8%), from €66,481 to €99,601
of which Trade receivables: +€31,227
- Cash +€16,583
up €16,583 (+46.4%), from €35,722 to €52,305
mainly Net result for the year (+€51,168) and Tax, wage and social debts (+€8,289)
- Tangible fixed assets -€3,481
down €3,481 (-50.0%), from €6,962 to €3,481
of which Furniture and vehicles: -€2,717
- Deferred charges and accrued income +€3,417
up €3,417 (+858%), from €398 to €3,815
- Reserves +€51,168
up €51,168 (+97.9%), from €52,251 to €103,419
- Other debts -€10,165
down €10,165 (-97.0%), from €10,482 to €316
- Tax, wage and social debts +€8,289
up €8,289 (+61.4%), from €13,506 to €21,794
- Gross operating margin +€54,365
up €54,365 (+248%), from €21,954 to €76,319
- Taxes +€14,922
up €14,922 (+434%), from €3,436 to €18,358
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 | €109,563 | €159,202 | +€49,639 | +45.3% |
| Fixed assets | 21/28 | €6,962 | €3,481 | -€3,481 | -50.0% |
| Tangible fixed assets | 22/27 | €6,962 | €3,481 | -€3,481 | -50.0% |
| Plant, machinery and equipment | 23 | €1,528 | €764 | -€764 | -50.0% |
| Furniture and vehicles | 24 | €5,434 | €2,717 | -€2,717 | -50.0% |
| Current assets | 29/58 | €102,601 | €155,721 | +€53,120 | +51.8% |
| Amounts receivable within one year | 40/41 | €66,481 | €99,601 | +€33,120 | +49.8% |
| Trade receivables | 40 | €61,130 | €92,357 | +€31,227 | +51.1% |
| Other amounts receivable | 41 | €5,351 | €7,244 | +€1,893 | +35.4% |
| Cash at bank and in hand | 54/58 | €35,722 | €52,305 | +€16,583 | +46.4% |
| Deferred charges and accrued income | 490/1 | €398 | €3,815 | +€3,417 | +858% |
| Total equity and liabilities | 10/49 | €109,563 | €159,202 | +€49,639 | +45.3% |
| Equity | 10/15 | €55,251 | €106,419 | +€51,168 | +92.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €52,251 | €103,419 | +€51,168 | +97.9% |
| Distributable reserves | 133 | €52,251 | €103,419 | +€51,168 | +97.9% |
| Amounts payable | 17/49 | €54,312 | €52,783 | -€1,529 | -2.8% |
| Amounts payable within one year | 42/48 | €54,312 | €52,783 | -€1,529 | -2.8% |
| Trade debts | 44 | €29,845 | €30,672 | +€828 | +2.8% |
| Suppliers | 440/4 | €29,845 | €30,672 | +€828 | +2.8% |
| Advances received on contracts in progress | 46 | €480 | - | -€480 | |
| Taxes, remuneration and social security | 45 | €13,506 | €21,794 | +€8,289 | +61.4% |
| Taxes | 450/3 | €13,506 | €21,794 | +€8,289 | +61.4% |
| Other amounts payable | 47/48 | €10,482 | €316 | -€10,165 | -97.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,481 | €3,481 | +€0 | 0.0% |
| Other operating charges | 640/8 | €743 | €1,202 | +€459 | +61.8% |
| Gross operating margin | 9900 | €21,954 | €76,319 | +€54,365 | +248% |
| Operating profit (loss) | 9901 | €17,730 | €71,636 | +€53,906 | +304% |
| Financial income | 75/76B | €323 | €63 | -€260 | -80.4% |
| Recurring financial income | 75 | €323 | €63 | -€260 | -80.4% |
| Financial charges | 65/66B | €2,368 | €2,173 | -€194 | -8.2% |
| Recurring financial charges | 65 | €2,368 | €2,173 | -€194 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €15,685 | €69,526 | +€53,841 | +343% |
| Income taxes | 67/77 | €3,436 | €18,358 | +€14,922 | +434% |
| Profit (loss) for the period | 9904 | €12,249 | €51,168 | +€38,919 | +318% |
| Profit (loss) for the period to be appropriated | 9905 | €12,249 | €51,168 | +€38,919 | +318% |
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 14 October 2026 via checked.be.