STELLATO: 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.
STELLATO
Largest movements
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Cash +€119,421
up €119,421 (+153.3%), from €77,887 to €197,308
mainly Current investments (+€125,000) and Depreciation (+€23,004)
- Tangible fixed assets -€19,273
down €19,273 (-3.9%), from €496,082 to €476,809
of which Land and buildings: -€21,657
- Profit (loss) carried forward -€15,120
down €15,120, from €1,550 to -€13,570
- Gross operating margin -€46,521
down €46,521 (-91.7%), from €50,752 to €4,231
- Taxes -€8,883
no longer reported in 2025 (was €8,883)
- Financial income +€4,322
up €4,322 (+3457.6%), from €125 to €4,447
- Depreciation +€687
up €687 (+3.1%), from €22,317 to €23,004
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 | €700,317 | €676,752 | -€23,565 | -3.4% |
| Fixed assets | 21/28 | €496,082 | €476,809 | -€19,273 | -3.9% |
| Tangible fixed assets | 22/27 | €496,082 | €476,809 | -€19,273 | -3.9% |
| Land and buildings | 22 | €479,572 | €457,915 | -€21,657 | -4.5% |
| Plant, machinery and equipment | 23 | €4,787 | €5,280 | +€493 | +10.3% |
| Furniture and vehicles | 24 | €780 | €2,671 | +€1,891 | +242.4% |
| Other tangible fixed assets | 26 | €10,943 | €10,943 | = | 0.0% |
| Current assets | 29/58 | €204,235 | €199,943 | -€4,292 | -2.1% |
| Amounts receivable within one year | 40/41 | - | €1,221 | +€1,221 | |
| Other amounts receivable | 41 | - | €1,221 | +€1,221 | |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €77,887 | €197,308 | +€119,421 | +153.3% |
| Deferred charges and accrued income | 490/1 | €1,348 | €1,414 | +€66 | +4.9% |
| Total equity and liabilities | 10/49 | €700,317 | €676,752 | -€23,565 | -3.4% |
| Equity | 10/15 | €614,781 | €594,369 | -€20,412 | -3.3% |
| Contributions | 10/11 | €251,500 | €251,500 | = | 0.0% |
| Reserves | 13 | €361,731 | €356,439 | -€5,292 | -1.5% |
| Non-distributable reserves | 130/1 | €8,527 | €8,527 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,527 | €8,527 | = | 0.0% |
| Tax-exempt reserves | 132 | €107,600 | €102,308 | -€5,292 | -4.9% |
| Distributable reserves | 133 | €245,604 | €245,604 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,550 | -€13,570 | -€15,120 | |
| Provisions and deferred taxes | 16 | €24,737 | €23,520 | -€1,217 | -4.9% |
| Deferred taxes | 168 | €24,737 | €23,520 | -€1,217 | -4.9% |
| Amounts payable | 17/49 | €60,799 | €58,863 | -€1,936 | -3.2% |
| Amounts payable within one year | 42/48 | €54,815 | €55,314 | +€499 | +0.9% |
| Trade debts | 44 | - | €780 | +€780 | |
| Suppliers | 440/4 | - | €780 | +€780 | |
| Taxes, remuneration and social security | 45 | €2,285 | €2,285 | = | 0.0% |
| Taxes | 450/3 | €2,285 | €2,285 | = | 0.0% |
| Other amounts payable | 47/48 | €52,530 | €52,249 | -€281 | -0.5% |
| Accrued charges and deferred income | 492/3 | €5,984 | €3,549 | -€2,435 | -40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,317 | €23,004 | +€687 | +3.1% |
| Other operating charges | 640/8 | €3,053 | €3,547 | +€494 | +16.2% |
| Gross operating margin | 9900 | €50,752 | €4,231 | -€46,521 | -91.7% |
| Operating profit (loss) | 9901 | €25,382 | -€22,320 | -€47,702 | |
| Financial income | 75/76B | €125 | €4,447 | +€4,322 | +3457.6% |
| Recurring financial income | 75 | €125 | €4,447 | +€4,322 | +3457.6% |
| Financial charges | 65/66B | €4,096 | €3,755 | -€341 | -8.3% |
| Recurring financial charges | 65 | €4,096 | €3,755 | -€341 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €21,411 | -€21,628 | -€43,039 | |
| Transfer from deferred taxes | 780 | €1,216 | €1,216 | = | 0.0% |
| Income taxes | 67/77 | €8,883 | - | -€8,883 | |
| Profit (loss) for the period | 9904 | €13,744 | -€20,412 | -€34,156 | |
| Transfer from tax-exempt reserves | 789 | €5,292 | €5,292 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,036 | -€15,120 | -€34,156 |
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 11 October 2026 via checked.be.