Stellar Impact: 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 Impact
Largest movements
- Financial fixed assets -€1.3m
down €1.3m (-6.0%), from €21.0m to €19.8m
- Receivables within one year -€451,573
down €451,573 (-95.4%), from €473,360 to €21,787
- Profit (loss) carried forward -€6.1m
down €6.1m (-22.3%), from -€27.2m to -€33.3m
- Contributions +€4.5m
up €4.5m (+8.8%), from €50.9m to €55.4m
- Financial charges -€7.3m
down €7.3m (-62.1%), from €11.7m to €4.4m
of which Non-recurring financial charges: -€7.3m
- Financial income -€6.1m
down €6.1m (-98.7%), from €6.2m to €81,001
of which Non-recurring financial income: -€5.9m
- Gross operating margin +€162,283
up €162,283 (+8.7%), from -€1.9m to -€1.7m
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 | €23,666,316 | €22,106,153 | -€1.6m | -6.6% |
| Fixed assets | 21/28 | €21,027,526 | €19,762,902 | -€1.3m | -6.0% |
| Intangible fixed assets | 21 | €7,555 | €6,455 | -€1,100 | -14.6% |
| Financial fixed assets | 28 | €21,019,971 | €19,756,446 | -€1.3m | -6.0% |
| Current assets | 29/58 | €2,638,790 | €2,343,251 | -€295,539 | -11.2% |
| Amounts receivable within one year | 40/41 | €473,360 | €21,787 | -€451,573 | -95.4% |
| Other amounts receivable | 41 | €473,360 | €21,787 | -€451,573 | -95.4% |
| Cash at bank and in hand | 54/58 | €2,124,515 | €2,199,967 | +€75,453 | +3.6% |
| Deferred charges and accrued income | 490/1 | €40,915 | €121,497 | +€80,582 | +197% |
| Total equity and liabilities | 10/49 | €23,666,316 | €22,106,153 | -€1.6m | -6.6% |
| Equity | 10/15 | €23,631,721 | €22,069,684 | -€1.6m | -6.6% |
| Contributions | 10/11 | €50,875,000 | €55,375,000 | +€4.5m | +8.8% |
| Capital | 10 | €50,875,000 | €55,375,000 | +€4.5m | +8.8% |
| Issued capital | 100 | €100,000,000 | €100,000,000 | = | 0.0% |
| Uncalled capital | 101 | €49,125,000 | €44,625,000 | -€4.5m | -9.2% |
| Profit (loss) carried forward | 14 | -€27,243,279 | -€33,305,316 | -€6.1m | -22.3% |
| Amounts payable | 17/49 | €34,595 | €36,470 | +€1,874 | +5.4% |
| Amounts payable within one year | 42/48 | €34,580 | €36,446 | +€1,866 | +5.4% |
| Trade debts | 44 | €24,310 | €26,446 | +€2,136 | +8.8% |
| Suppliers | 440/4 | €24,310 | €26,446 | +€2,136 | +8.8% |
| Taxes, remuneration and social security | 45 | €10,000 | €10,000 | = | 0.0% |
| Taxes | 450/3 | €1,500 | €1,500 | = | 0.0% |
| Remuneration and social security | 454/9 | €8,500 | €8,500 | = | 0.0% |
| Other amounts payable | 47/48 | €270 | - | -€270 | |
| Accrued charges and deferred income | 492/3 | €15 | €23 | +€8 | +56.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,100 | €1,100 | -€0 | 0.0% |
| Other operating charges | 640/8 | €5,212 | €998 | -€4,213 | -80.8% |
| Gross operating margin | 9900 | -€1,866,848 | -€1,704,565 | +€162,283 | +8.7% |
| Operating profit (loss) | 9901 | -€1,873,160 | -€1,706,663 | +€166,496 | +8.9% |
| Financial income | 75/76B | €6,192,936 | €81,001 | -€6.1m | -98.7% |
| Recurring financial income | 75 | €266,636 | €81,001 | -€185,635 | -69.6% |
| Non-recurring financial income | 76B | €5,926,300 | - | -€5.9m | |
| Financial charges | 65/66B | €11,696,902 | €4,436,375 | -€7.3m | -62.1% |
| Recurring financial charges | 65 | €587 | €378 | -€210 | -35.7% |
| Non-recurring financial charges | 66B | €11,696,314 | €4,435,997 | -€7.3m | -62.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,377,125 | -€6,062,037 | +€1.3m | +17.8% |
| Profit (loss) for the period | 9904 | -€7,377,125 | -€6,062,037 | +€1.3m | +17.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,377,125 | -€6,062,037 | +€1.3m | +17.8% |
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.