STELO CONSULT: 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.
STELO CONSULT
Largest movements
- Current investments -€60,000
down €60,000 (-66.1%), from €90,779 to €30,779
- Cash -€53,471
down €53,471 (-61.4%), from €87,108 to €33,637
mainly Contributions, distributions and other (-€288,495) and Tax, wage and social debts (-€19,756)
- Tangible fixed assets +€5,666
up €5,666 (+17.1%), from €33,219 to €38,885
of which Other tangible fixed assets: +€15,972
- Profit (loss) carried forward -€194,144
no longer reported in 2025 (was €194,144)
- Other debts +€94,149
up €94,149 (+9605.0%), from €980 to €95,130
- Tax, wage and social debts -€19,756
down €19,756 (-62.5%), from €31,613 to €11,857
of which Taxes: -€20,079
- Trade debts +€10,686
up €10,686 (+2797.1%), from €382 to €11,068
- Gross operating margin +€19,143
up €19,143 (+17.1%), from €112,248 to €131,391
- Taxes +€4,300
up €4,300 (+18.7%), from €23,042 to €27,342
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 | €230,119 | €121,054 | -€109,065 | -47.4% |
| Fixed assets | 21/28 | €33,219 | €38,885 | +€5,666 | +17.1% |
| Tangible fixed assets | 22/27 | €33,219 | €38,885 | +€5,666 | +17.1% |
| Plant, machinery and equipment | 23 | €1,352 | €897 | -€456 | -33.7% |
| Furniture and vehicles | 24 | €31,127 | €21,277 | -€9,850 | -31.6% |
| Other tangible fixed assets | 26 | €740 | €16,711 | +€15,972 | +2159.4% |
| Current assets | 29/58 | €196,900 | €82,169 | -€114,731 | -58.3% |
| Amounts receivable within one year | 40/41 | €17,101 | €17,433 | +€332 | +1.9% |
| Trade receivables | 40 | €17,101 | €17,433 | +€332 | +1.9% |
| Current investments | 50/53 | €90,779 | €30,779 | -€60,000 | -66.1% |
| Cash at bank and in hand | 54/58 | €87,108 | €33,637 | -€53,471 | -61.4% |
| Deferred charges and accrued income | 490/1 | €1,913 | €321 | -€1,592 | -83.2% |
| Total equity and liabilities | 10/49 | €230,119 | €121,054 | -€109,065 | -47.4% |
| Equity | 10/15 | €197,144 | €3,000 | -€194,144 | -98.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,144 | - | -€194,144 | |
| Amounts payable | 17/49 | €32,975 | €118,054 | +€85,079 | +258.0% |
| Amounts payable within one year | 42/48 | €32,975 | €118,054 | +€85,079 | +258.0% |
| Trade debts | 44 | €382 | €11,068 | +€10,686 | +2797.1% |
| Suppliers | 440/4 | €382 | €11,068 | +€10,686 | +2797.1% |
| Taxes, remuneration and social security | 45 | €31,613 | €11,857 | -€19,756 | -62.5% |
| Taxes | 450/3 | €31,613 | €11,534 | -€20,079 | -63.5% |
| Remuneration and social security | 454/9 | - | €322 | +€322 | |
| Other amounts payable | 47/48 | €980 | €95,130 | +€94,149 | +9605.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,530 | €10,665 | +€135 | +1.3% |
| Other operating charges | 640/8 | €304 | €439 | +€134 | +44.1% |
| Gross operating margin | 9900 | €112,248 | €131,391 | +€19,143 | +17.1% |
| Operating profit (loss) | 9901 | €101,413 | €120,287 | +€18,874 | +18.6% |
| Financial income | 75/76B | €2,406 | €1,478 | -€928 | -38.6% |
| Recurring financial income | 75 | €2,406 | €1,478 | -€928 | -38.6% |
| Financial charges | 65/66B | €69 | €72 | +€3 | +4.5% |
| Recurring financial charges | 65 | €69 | €72 | +€3 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €103,750 | €121,693 | +€17,943 | +17.3% |
| Income taxes | 67/77 | €23,042 | €27,342 | +€4,300 | +18.7% |
| Profit (loss) for the period | 9904 | €80,708 | €94,351 | +€13,643 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €80,708 | €94,351 | +€13,643 | +16.9% |
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.