STELLA CONSULT: 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 CONSULT
Largest movements
- Cash -€51,974
down €51,974 (-49.7%), from €104,543 to €52,570
mainly Contributions, distributions and other (-€58,213) and Receivables within one year (-€6,175)
- Tangible fixed assets -€8,712
down €8,712 (-18.5%), from €47,218 to €38,506
of which Furniture and vehicles: -€4,669
- Receivables within one year +€6,175
up €6,175 (+7.9%), from €77,797 to €83,972
of which Other amounts receivable: +€3,925
- Reserves -€46,404
down €46,404 (-27.4%), from €169,227 to €122,823
- Debts after one year -€6,049
down €6,049 (-51.3%), from €11,796 to €5,747
- Gross operating margin -€8,190
down €8,190 (-17.0%), from €48,050 to €39,861
- Other operating charges +€3,686
up €3,686 (+202%), from €1,822 to €5,508
- Taxes -€2,771
down €2,771 (-27.5%), from €10,064 to €7,292
- Financial charges +€897
up €897 (+15.3%), from €5,851 to €6,748
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 | €234,748 | €181,696 | -€53,052 | -22.6% |
| Fixed assets | 21/28 | €47,218 | €38,506 | -€8,712 | -18.5% |
| Tangible fixed assets | 22/27 | €47,218 | €38,506 | -€8,712 | -18.5% |
| Plant, machinery and equipment | 23 | €4,637 | €3,661 | -€976 | -21.0% |
| Furniture and vehicles | 24 | €18,319 | €13,650 | -€4,669 | -25.5% |
| Other tangible fixed assets | 26 | €24,262 | €21,195 | -€3,067 | -12.6% |
| Current assets | 29/58 | €187,530 | €143,190 | -€44,340 | -23.6% |
| Amounts receivable within one year | 40/41 | €77,797 | €83,972 | +€6,175 | +7.9% |
| Trade receivables | 40 | €30,556 | €32,806 | +€2,250 | +7.4% |
| Other amounts receivable | 41 | €47,241 | €51,166 | +€3,925 | +8.3% |
| Cash at bank and in hand | 54/58 | €104,543 | €52,570 | -€51,974 | -49.7% |
| Deferred charges and accrued income | 490/1 | €5,190 | €6,648 | +€1,458 | +28.1% |
| Total equity and liabilities | 10/49 | €234,748 | €181,696 | -€53,052 | -22.6% |
| Equity | 10/15 | €195,879 | €149,475 | -€46,404 | -23.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €169,227 | €122,823 | -€46,404 | -27.4% |
| Distributable reserves | 133 | €169,227 | €122,823 | -€46,404 | -27.4% |
| Profit (loss) carried forward | 14 | €20,452 | €20,452 | = | 0.0% |
| Amounts payable | 17/49 | €38,869 | €32,221 | -€6,648 | -17.1% |
| Amounts payable after more than one year | 17 | €11,796 | €5,747 | -€6,049 | -51.3% |
| Financial debts | 170/4 | €11,796 | €5,747 | -€6,049 | -51.3% |
| Amounts payable within one year | 42/48 | €27,073 | €26,233 | -€840 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €5,827 | €6,049 | +€222 | +3.8% |
| Trade debts | 44 | €4,565 | €2,342 | -€2,223 | -48.7% |
| Suppliers | 440/4 | €4,565 | €2,342 | -€2,223 | -48.7% |
| Taxes, remuneration and social security | 45 | €16,682 | €17,842 | +€1,160 | +7.0% |
| Taxes | 450/3 | €13,882 | €15,042 | +€1,160 | +8.4% |
| Remuneration and social security | 454/9 | €2,800 | €2,800 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €241 | +€241 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,579 | €9,838 | +€259 | +2.7% |
| Other operating charges | 640/8 | €1,822 | €5,508 | +€3,686 | +202% |
| Gross operating margin | 9900 | €48,050 | €39,861 | -€8,190 | -17.0% |
| Operating profit (loss) | 9901 | €36,650 | €24,515 | -€12,135 | -33.1% |
| Financial income | 75/76B | €1,385 | €1,335 | -€50 | -3.6% |
| Recurring financial income | 75 | €1,385 | €1,335 | -€50 | -3.6% |
| Financial charges | 65/66B | €5,851 | €6,748 | +€897 | +15.3% |
| Recurring financial charges | 65 | €5,851 | €6,748 | +€897 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €32,183 | €19,102 | -€13,082 | -40.6% |
| Income taxes | 67/77 | €10,064 | €7,292 | -€2,771 | -27.5% |
| Profit (loss) for the period | 9904 | €22,120 | €11,809 | -€10,310 | -46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,120 | €11,809 | -€10,310 | -46.6% |
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.