Stelno: 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.
Stelno
Largest movements
- Receivables within one year +€20,837
up €20,837 (+15.2%), from €136,986 to €157,823
- Tangible fixed assets +€9,079
up €9,079 (+14.1%), from €64,293 to €73,372
- Cash -€8,896
down €8,896 (-46.2%), from €19,262 to €10,366
mainly Receivables within one year (-€20,837) and Investment in fixed assets (net) (-€10,400)
- Reserves +€10,000
up €10,000 (+47.1%), from €21,230 to €31,230
of which Distributable reserves: +€10,000
- Trade debts +€5,005
up €5,005 (+5303.2%), from €94 to €5,100
- Profit (loss) carried forward +€3,227
up €3,227 (+2.2%), from €144,745 to €147,972
- Gross operating margin -€7,284
down €7,284 (-22.5%), from €32,335 to €25,051
- Taxes -€2,710
down €2,710 (-30.3%), from €8,944 to €6,234
- Depreciation +€420
up €420 (+46.6%), from €901 to €1,321
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 | €220,541 | €241,561 | +€21,020 | +9.5% |
| Fixed assets | 21/28 | €64,293 | €73,372 | +€9,079 | +14.1% |
| Tangible fixed assets | 22/27 | €64,293 | €73,372 | +€9,079 | +14.1% |
| Land and buildings | 22 | €64,293 | €73,372 | +€9,079 | +14.1% |
| Current assets | 29/58 | €156,248 | €168,189 | +€11,941 | +7.6% |
| Amounts receivable within one year | 40/41 | €136,986 | €157,823 | +€20,837 | +15.2% |
| Other amounts receivable | 41 | €136,986 | €157,823 | +€20,837 | +15.2% |
| Cash at bank and in hand | 54/58 | €19,262 | €10,366 | -€8,896 | -46.2% |
| Total equity and liabilities | 10/49 | €220,541 | €241,561 | +€21,020 | +9.5% |
| Equity | 10/15 | €185,064 | €198,291 | +€13,227 | +7.1% |
| Contributions | 10/11 | €19,088 | €19,088 | = | 0.0% |
| Reserves | 13 | €21,230 | €31,230 | +€10,000 | +47.1% |
| Non-distributable reserves | 130/1 | €1,909 | €1,909 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,909 | €1,909 | = | 0.0% |
| Distributable reserves | 133 | €19,322 | €29,322 | +€10,000 | +51.8% |
| Profit (loss) carried forward | 14 | €144,745 | €147,972 | +€3,227 | +2.2% |
| Amounts payable | 17/49 | €35,478 | €43,270 | +€7,793 | +22.0% |
| Amounts payable after more than one year | 17 | €744 | €2,994 | +€2,250 | +302.5% |
| Other amounts payable | 178/9 | €744 | €2,994 | +€2,250 | +302.5% |
| Amounts payable within one year | 42/48 | €34,734 | €40,277 | +€5,543 | +16.0% |
| Trade debts | 44 | €94 | €5,100 | +€5,005 | +5303.2% |
| Suppliers | 440/4 | €94 | €5,100 | +€5,005 | +5303.2% |
| Taxes, remuneration and social security | 45 | €14,639 | €15,177 | +€538 | +3.7% |
| Taxes | 450/3 | €14,639 | €15,177 | +€538 | +3.7% |
| Other amounts payable | 47/48 | €20,000 | €20,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €901 | €1,321 | +€420 | +46.6% |
| Other operating charges | 640/8 | €3,955 | €4,078 | +€123 | +3.1% |
| Gross operating margin | 9900 | €32,335 | €25,051 | -€7,284 | -22.5% |
| Operating profit (loss) | 9901 | €27,479 | €19,652 | -€7,827 | -28.5% |
| Financial charges | 65/66B | €163 | €191 | +€28 | +17.3% |
| Recurring financial charges | 65 | €163 | €191 | +€28 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €27,316 | €19,461 | -€7,855 | -28.8% |
| Income taxes | 67/77 | €8,944 | €6,234 | -€2,710 | -30.3% |
| Profit (loss) for the period | 9904 | €18,372 | €13,227 | -€5,145 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,372 | €13,227 | -€5,145 | -28.0% |
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 12 October 2026 via checked.be.