STELLO: what changed
Two fiscal 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.
STELLO
Largest movements
- Current investments +€87,509
new in 2025: €87,509
- Cash -€80,391
down €80,391 (-99.4%), from €80,854 to €463
mainly Current investments (-€87,509) and Tax, wage and social debts (-€22,463)
- Receivables within one year -€10,306
down €10,306 (-51.3%), from €20,106 to €9,800
of which Trade receivables: -€20,106
- Tangible fixed assets +€2,692
up €2,692 (+7.9%), from €34,139 to €36,831
of which Plant, machinery and equipment: +€1,572
- Deferred charges and accrued income +€2,028
up €2,028 (+227.4%), from €892 to €2,919
- Tax, wage and social debts -€22,463
down €22,463 (-55.6%), from €40,410 to €17,947
- Reserves +€20,473
up €20,473 (+22.4%), from €91,601 to €112,075
- Trade debts +€3,214
up €3,214 (+744.3%), from €432 to €3,646
- Gross operating margin -€29,048
down €29,048 (-45.8%), from €63,375 to €34,327
- Taxes -€7,956
down €7,956 (-44.6%), from €17,827 to €9,871
- Other operating charges +€1,052
up €1,052 (+77.6%), from €1,356 to €2,408
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 | €135,991 | €137,523 | +€1,532 | +1.1% |
| Fixed assets | 21/28 | €34,139 | €36,831 | +€2,692 | +7.9% |
| Tangible fixed assets | 22/27 | €34,139 | €36,831 | +€2,692 | +7.9% |
| Land and buildings | 22 | €9,917 | €9,696 | -€221 | -2.2% |
| Plant, machinery and equipment | 23 | €15,112 | €16,684 | +€1,572 | +10.4% |
| Furniture and vehicles | 24 | €9,110 | €10,451 | +€1,340 | +14.7% |
| Current assets | 29/58 | €101,851 | €100,692 | -€1,159 | -1.1% |
| Amounts receivable within one year | 40/41 | €20,106 | €9,800 | -€10,306 | -51.3% |
| Trade receivables | 40 | €20,106 | - | -€20,106 | |
| Other amounts receivable | 41 | - | €9,800 | +€9,800 | |
| Current investments | 50/53 | - | €87,509 | +€87,509 | |
| Cash at bank and in hand | 54/58 | €80,854 | €463 | -€80,391 | -99.4% |
| Deferred charges and accrued income | 490/1 | €892 | €2,919 | +€2,028 | +227.4% |
| Total equity and liabilities | 10/49 | €135,991 | €137,523 | +€1,532 | +1.1% |
| Equity | 10/15 | €91,701 | €112,175 | +€20,473 | +22.3% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €91,601 | €112,075 | +€20,473 | +22.4% |
| Distributable reserves | 133 | €91,601 | €112,075 | +€20,473 | +22.4% |
| Amounts payable | 17/49 | €44,289 | €25,349 | -€18,941 | -42.8% |
| Amounts payable within one year | 42/48 | €41,896 | €22,983 | -€18,913 | -45.1% |
| Financial debts | 43 | - | €740 | +€740 | |
| Credit institutions | 430/8 | - | €740 | +€740 | |
| Trade debts | 44 | €432 | €3,646 | +€3,214 | +744.3% |
| Suppliers | 440/4 | €432 | €3,646 | +€3,214 | +744.3% |
| Taxes, remuneration and social security | 45 | €40,410 | €17,947 | -€22,463 | -55.6% |
| Taxes | 450/3 | €40,410 | €17,947 | -€22,463 | -55.6% |
| Other amounts payable | 47/48 | €1,054 | €650 | -€404 | -38.3% |
| Accrued charges and deferred income | 492/3 | €2,394 | €2,366 | -€28 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €841 | €1,263 | +€422 | +50.2% |
| Other operating charges | 640/8 | €1,356 | €2,408 | +€1,052 | +77.6% |
| Gross operating margin | 9900 | €63,375 | €34,327 | -€29,048 | -45.8% |
| Operating profit (loss) | 9901 | €61,178 | €30,656 | -€30,522 | -49.9% |
| Financial income | 75/76B | €390 | €709 | +€319 | +81.8% |
| Recurring financial income | 75 | €390 | €709 | +€319 | +81.8% |
| Financial charges | 65/66B | €409 | €370 | -€38 | -9.3% |
| Recurring financial charges | 65 | €409 | €370 | -€38 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €61,159 | €30,994 | -€30,165 | -49.3% |
| Income taxes | 67/77 | €17,827 | €9,871 | -€7,956 | -44.6% |
| Profit (loss) for the period | 9904 | €43,332 | €21,123 | -€22,209 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,332 | €21,123 | -€22,209 | -51.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.