STELLENBOSCH: 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.
STELLENBOSCH
Largest movements
- Financial fixed assets +€7.6m
new in 2025: €7.6m
- Receivables within one year +€4.2m
new in 2025: €4.2m
of which Other amounts receivable: +€4.2m
- Debts after one year +€6.0m
new in 2025: €6.0m
- Other debts +€6.0m
new in 2025: €6.0m
- Profit (loss) carried forward -€214,053
down €214,053 (-49589.4%), from -€432 to -€214,484
- Gross operating margin -€136,985
down €136,985 (-39049.2%), from -€351 to -€137,335
- Financial charges +€74,884
up €74,884 (+139970.4%), from €54 to €74,938
- Other operating charges +€1,392
up €1,392 (+359.5%), from €387 to €1,780
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 | €18,556 | €11,885,079 | +€11.9m | +63950.9% |
| Fixed assets | 21/28 | - | €7,610,000 | +€7.6m | |
| Financial fixed assets | 28 | - | €7,610,000 | +€7.6m | |
| Current assets | 29/58 | €18,556 | €4,275,079 | +€4.3m | +22939.2% |
| Amounts receivable within one year | 40/41 | - | €4,221,909 | +€4.2m | |
| Trade receivables | 40 | - | €11,909 | +€11,909 | |
| Other amounts receivable | 41 | - | €4,210,000 | +€4.2m | |
| Cash at bank and in hand | 54/58 | €18,556 | €53,170 | +€34,615 | +186.5% |
| Total equity and liabilities | 10/49 | €18,556 | €11,885,079 | +€11.9m | +63950.9% |
| Equity | 10/15 | €18,168 | -€195,884 | -€214,053 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Share premium | 1100/10 | - | €18,600 | +€18,600 | |
| Profit (loss) carried forward | 14 | -€432 | -€214,484 | -€214,053 | -49589.4% |
| Amounts payable | 17/49 | €387 | €12,080,963 | +€12.1m | +3118855.8% |
| Amounts payable after more than one year | 17 | - | €6,000,000 | +€6.0m | |
| Financial debts | 170/4 | - | €6,000,000 | +€6.0m | |
| Amounts payable within one year | 42/48 | - | €6,006,186 | +€6.0m | |
| Trade debts | 44 | - | €6,186 | +€6,186 | |
| Suppliers | 440/4 | - | €6,186 | +€6,186 | |
| Other amounts payable | 47/48 | - | €6,000,000 | +€6.0m | |
| Accrued charges and deferred income | 492/3 | €387 | €74,778 | +€74,390 | +19205.5% |
| Other operating charges | 640/8 | €387 | €1,780 | +€1,392 | +359.5% |
| Gross operating margin | 9900 | -€351 | -€137,335 | -€136,985 | -39049.2% |
| Operating profit (loss) | 9901 | -€738 | -€139,115 | -€138,377 | -18746.7% |
| Financial charges | 65/66B | €54 | €74,938 | +€74,884 | +139970.4% |
| Recurring financial charges | 65 | €54 | €74,938 | +€74,884 | +139970.4% |
| Profit (loss) for the period before taxes | 9903 | -€792 | -€214,053 | -€213,261 | -26939.2% |
| Profit (loss) for the period | 9904 | -€792 | -€214,053 | -€213,261 | -26939.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€792 | -€214,053 | -€213,261 | -26939.2% |
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.