STELLAR ENERGY: 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.
STELLAR ENERGY
Largest movements
- Receivables within one year +€22,943
up €22,943 (+32.8%), from €70,002 to €92,945
of which Other amounts receivable: +€16,347
- Cash -€22,470
down €22,470 (-47.2%), from €47,656 to €25,186
mainly Debts after one year (-€58,970) and Receivables within one year (-€22,943)
- Debts after one year -€58,970
down €58,970 (-16.6%), from €355,893 to €296,923
- Short-term financial debts +€25,000
new in 2025: €25,000
- Tax, wage and social debts +€22,228
up €22,228 (+191%), from €11,615 to €33,842
of which Remuneration and social security: +€19,773
- Reserves +€13,400
new in 2025: €13,400
- Other debts -€11,832
down €11,832 (-5.9%), from €198,861 to €187,029
- Staff costs +€178,653
up €178,653 (+546%), from €32,744 to €211,397
- Gross operating margin +€144,915
up €144,915 (+168%), from €86,073 to €230,988
- Financial income +€21,115
up €21,115 (+1,040%), from €2,030 to €23,145
- Financial charges +€6,201
up €6,201 (+62.4%), from €9,942 to €16,143
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 | €680,039 | €680,185 | +€147 | 0.0% |
| Fixed assets | 21/28 | €561,944 | €561,992 | +€48 | 0.0% |
| Tangible fixed assets | 22/27 | €11,944 | €11,992 | +€48 | +0.4% |
| Plant, machinery and equipment | 23 | €7,189 | €8,296 | +€1,107 | +15.4% |
| Other tangible fixed assets | 26 | €4,755 | €3,696 | -€1,059 | -22.3% |
| Financial fixed assets | 28 | €550,000 | €550,000 | = | 0.0% |
| Current assets | 29/58 | €118,095 | €118,193 | +€98 | +0.1% |
| Amounts receivable within one year | 40/41 | €70,002 | €92,945 | +€22,943 | +32.8% |
| Trade receivables | 40 | €33,636 | €40,232 | +€6,596 | +19.6% |
| Other amounts receivable | 41 | €36,366 | €52,713 | +€16,347 | +45.0% |
| Cash at bank and in hand | 54/58 | €47,656 | €25,186 | -€22,470 | -47.2% |
| Deferred charges and accrued income | 490/1 | €437 | €62 | -€375 | -85.9% |
| Total equity and liabilities | 10/49 | €680,039 | €680,185 | +€147 | 0.0% |
| Equity | 10/15 | €49,628 | €63,033 | +€13,405 | +27.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | - | €13,400 | +€13,400 | |
| Distributable reserves | 133 | - | €13,400 | +€13,400 | |
| Profit (loss) carried forward | 14 | €34,628 | €34,633 | +€5 | 0.0% |
| Amounts payable | 17/49 | €630,411 | €617,152 | -€13,259 | -2.1% |
| Amounts payable after more than one year | 17 | €355,893 | €296,923 | -€58,970 | -16.6% |
| Financial debts | 170/4 | €355,893 | €296,923 | -€58,970 | -16.6% |
| Amounts payable within one year | 42/48 | €274,518 | €320,229 | +€45,711 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €56,636 | €58,970 | +€2,334 | +4.1% |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €7,407 | €15,387 | +€7,981 | +108% |
| Suppliers | 440/4 | €7,407 | €15,387 | +€7,981 | +108% |
| Taxes, remuneration and social security | 45 | €11,615 | €33,842 | +€22,228 | +191% |
| Taxes | 450/3 | €8,452 | €10,907 | +€2,454 | +29.0% |
| Remuneration and social security | 454/9 | €3,162 | €22,936 | +€19,773 | +625% |
| Other amounts payable | 47/48 | €198,861 | €187,029 | -€11,832 | -5.9% |
| Remuneration, social security and pensions | 62 | €32,744 | €211,397 | +€178,653 | +546% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,442 | €3,011 | +€1,569 | +109% |
| Other operating charges | 640/8 | €691 | €1,812 | +€1,121 | +162% |
| Gross operating margin | 9900 | €86,073 | €230,988 | +€144,915 | +168% |
| Operating profit (loss) | 9901 | €51,197 | €14,768 | -€36,428 | -71.2% |
| Financial income | 75/76B | €2,030 | €23,145 | +€21,115 | +1,040% |
| Recurring financial income | 75 | €2,030 | €23,145 | +€21,115 | +1,040% |
| Financial charges | 65/66B | €9,942 | €16,143 | +€6,201 | +62.4% |
| Recurring financial charges | 65 | €9,942 | €16,143 | +€6,201 | +62.4% |
| Profit (loss) for the period before taxes | 9903 | €43,285 | €21,771 | -€21,514 | -49.7% |
| Income taxes | 67/77 | €8,657 | €8,365 | -€292 | -3.4% |
| Profit (loss) for the period | 9904 | €34,628 | €13,405 | -€21,223 | -61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,628 | €13,405 | -€21,223 | -61.3% |
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 26 October 2026 via checked.be.