STELLA CHENUT: 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 CHENUT
Largest movements
- Cash -€1,894
no longer reported in 2025 (was €1,894)
mainly Net result for the year (-€3,683) and Investment in fixed assets (net) (-€2,856)
- Tangible fixed assets +€944
up €944 (+28.8%), from €3,280 to €4,224
of which Plant, machinery and equipment: +€1,262
- Stocks and contracts -€115
down €115 (-7.5%), from €1,524 to €1,409
- Profit (loss) carried forward -€3,683
down €3,683 (-78.3%), from -€4,700 to -€8,383
- Short-term financial debts +€3,234
new in 2025: €3,234
- Other debts -€2,748
down €2,748 (-57.3%), from €4,800 to €2,052
- Trade debts +€1,233
up €1,233 (+957.5%), from €129 to €1,362
- Tax, wage and social debts +€863
new in 2025: €863
- Gross operating margin -€2,324
down €2,324 (-64.4%), from €3,606 to €1,282
- Other operating charges +€1,452
up €1,452 (+152.9%), from €950 to €2,402
- Depreciation +€324
up €324 (+20.4%), from €1,588 to €1,912
- Financial charges +€186
up €186 (+35.7%), from €522 to €709
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 | €6,732 | €5,632 | -€1,100 | -16.3% |
| Fixed assets | 21/28 | €3,280 | €4,224 | +€944 | +28.8% |
| Tangible fixed assets | 22/27 | €3,280 | €4,224 | +€944 | +28.8% |
| Plant, machinery and equipment | 23 | €2,743 | €4,005 | +€1,262 | +46.0% |
| Furniture and vehicles | 24 | €537 | €219 | -€318 | -59.2% |
| Current assets | 29/58 | €3,452 | €1,409 | -€2,044 | -59.2% |
| Stocks and contracts in progress | 3 | €1,524 | €1,409 | -€115 | -7.5% |
| Stocks | 30/36 | €1,524 | €1,409 | -€115 | -7.5% |
| Amounts receivable within one year | 40/41 | €34 | - | -€34 | |
| Other amounts receivable | 41 | €34 | - | -€34 | |
| Cash at bank and in hand | 54/58 | €1,894 | - | -€1,894 | |
| Total equity and liabilities | 10/49 | €6,732 | €5,632 | -€1,100 | -16.3% |
| Equity | 10/15 | €1,804 | -€1,879 | -€3,683 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €304 | €304 | = | 0.0% |
| Non-distributable reserves | 130/1 | €304 | €304 | = | 0.0% |
| Reserves not available under the articles | 1311 | €304 | €304 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,700 | -€8,383 | -€3,683 | -78.3% |
| Amounts payable | 17/49 | €4,928 | €7,511 | +€2,583 | +52.4% |
| Amounts payable within one year | 42/48 | €4,928 | €7,511 | +€2,583 | +52.4% |
| Financial debts | 43 | - | €3,234 | +€3,234 | |
| Credit institutions | 430/8 | - | €3,234 | +€3,234 | |
| Trade debts | 44 | €129 | €1,362 | +€1,233 | +957.5% |
| Suppliers | 440/4 | €129 | €1,362 | +€1,233 | +957.5% |
| Taxes, remuneration and social security | 45 | - | €863 | +€863 | |
| Taxes | 450/3 | - | €863 | +€863 | |
| Other amounts payable | 47/48 | €4,800 | €2,052 | -€2,748 | -57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,588 | €1,912 | +€324 | +20.4% |
| Other operating charges | 640/8 | €950 | €2,402 | +€1,452 | +152.9% |
| Gross operating margin | 9900 | €3,606 | €1,282 | -€2,324 | -64.4% |
| Operating profit (loss) | 9901 | €1,068 | -€3,032 | -€4,100 | |
| Financial income | 75/76B | €58 | €58 | +€0 | +0.5% |
| Recurring financial income | 75 | €58 | €58 | +€0 | +0.5% |
| Financial charges | 65/66B | €522 | €709 | +€186 | +35.7% |
| Recurring financial charges | 65 | €522 | €709 | +€186 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €604 | -€3,683 | -€4,286 | |
| Profit (loss) for the period | 9904 | €604 | -€3,683 | -€4,286 | |
| Profit (loss) for the period to be appropriated | 9905 | €604 | -€3,683 | -€4,286 |
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 10 October 2026 via checked.be.