STELO TECH: 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.
STELO TECH
Largest movements
- Financial fixed assets -€150,000
down €150,000 (-19.0%), from €790,000 to €640,000
- Receivables within one year +€103,190
up €103,190 (+35.6%), from €289,835 to €393,025
of which Other amounts receivable: +€71,367
- Tangible fixed assets -€75,868
down €75,868 (-3.4%), from €2.2m to €2.2m
of which Land and buildings: -€71,670
- Cash -€35,514
no longer reported in 2025 (was €35,514)
mainly Other debts (-€367,618) and Debts after one year (-€165,565)
- Reserves +€540,388
up €540,388 (+125.5%), from €430,639 to €971,028
of which Distributable reserves: +€540,388
- Other debts -€367,618
down €367,618 (-88.0%), from €417,618 to €50,000
- Debts after one year -€165,565
down €165,565 (-8.7%), from €1.9m to €1.7m
- Trade debts -€124,333
down €124,333 (-88.0%), from €141,360 to €17,027
- Current portion of long-term debt -€63,984
down €63,984 (-28.8%), from €222,271 to €158,287
- Financial income +€424,218
new in 2025: €424,218
of which Financial income: +€424,218
- Gross operating margin +€22,226
up €22,226 (+7.6%), from €293,477 to €315,702
- Taxes +€12,857
up €12,857 (+34.2%), from €37,576 to €50,433
- Depreciation -€3,977
down €3,977 (-5.0%), from €79,867 to €75,891
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 | €3,363,674 | €3,205,483 | -€158,191 | -4.7% |
| Fixed assets | 21/28 | €3,038,326 | €2,812,458 | -€225,868 | -7.4% |
| Tangible fixed assets | 22/27 | €2,248,326 | €2,172,458 | -€75,868 | -3.4% |
| Land and buildings | 22 | €2,228,448 | €2,156,778 | -€71,670 | -3.2% |
| Furniture and vehicles | 24 | €19,878 | €15,680 | -€4,198 | -21.1% |
| Financial fixed assets | 28 | €790,000 | €640,000 | -€150,000 | -19.0% |
| Current assets | 29/58 | €325,349 | €393,025 | +€67,676 | +20.8% |
| Amounts receivable within one year | 40/41 | €289,835 | €393,025 | +€103,190 | +35.6% |
| Trade receivables | 40 | €126,715 | €158,538 | +€31,823 | +25.1% |
| Other amounts receivable | 41 | €163,121 | €234,488 | +€71,367 | +43.8% |
| Cash at bank and in hand | 54/58 | €35,514 | - | -€35,514 | |
| Total equity and liabilities | 10/49 | €3,363,674 | €3,205,483 | -€158,191 | -4.7% |
| Equity | 10/15 | €567,639 | €1,108,028 | +€540,388 | +95.2% |
| Contributions | 10/11 | €137,000 | €137,000 | = | 0.0% |
| Capital | 10 | €137,000 | €137,000 | = | 0.0% |
| Issued capital | 100 | €137,000 | €137,000 | = | 0.0% |
| Reserves | 13 | €430,639 | €971,028 | +€540,388 | +125.5% |
| Non-distributable reserves | 130/1 | €13,700 | €13,700 | = | 0.0% |
| Legal reserve | 130 | €13,700 | €13,700 | = | 0.0% |
| Distributable reserves | 133 | €416,939 | €957,328 | +€540,388 | +129.6% |
| Amounts payable | 17/49 | €2,796,035 | €2,097,455 | -€698,579 | -25.0% |
| Amounts payable after more than one year | 17 | €1,909,950 | €1,744,385 | -€165,565 | -8.7% |
| Financial debts | 170/4 | €1,909,950 | €1,744,385 | -€165,565 | -8.7% |
| Amounts payable within one year | 42/48 | €886,084 | €353,070 | -€533,014 | -60.2% |
| Current portion of amounts payable after more than one year | 42 | €222,271 | €158,287 | -€63,984 | -28.8% |
| Financial debts | 43 | €47,592 | €69,520 | +€21,929 | +46.1% |
| Credit institutions | 430/8 | €47,592 | €69,520 | +€21,929 | +46.1% |
| Trade debts | 44 | €141,360 | €17,027 | -€124,333 | -88.0% |
| Suppliers | 440/4 | €141,360 | €17,027 | -€124,333 | -88.0% |
| Taxes, remuneration and social security | 45 | €57,244 | €58,236 | +€992 | +1.7% |
| Taxes | 450/3 | €57,244 | €58,236 | +€992 | +1.7% |
| Other amounts payable | 47/48 | €417,618 | €50,000 | -€367,618 | -88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,867 | €75,891 | -€3,977 | -5.0% |
| Other operating charges | 640/8 | €8,140 | €9,492 | +€1,352 | +16.6% |
| Gross operating margin | 9900 | €293,477 | €315,702 | +€22,226 | +7.6% |
| Operating profit (loss) | 9901 | €205,470 | €230,320 | +€24,851 | +12.1% |
| Financial income | 75/76B | - | €424,218 | +€424,218 | |
| Recurring financial income | 75 | - | €424,218 | +€424,218 | |
| Non-recurring financial income | 76B | - | €424,218 | +€424,218 | |
| Financial charges | 65/66B | €66,584 | €63,717 | -€2,867 | -4.3% |
| Recurring financial charges | 65 | €66,584 | €63,717 | -€2,867 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €138,885 | €590,821 | +€451,936 | +325.4% |
| Income taxes | 67/77 | €37,576 | €50,433 | +€12,857 | +34.2% |
| Profit (loss) for the period | 9904 | €101,309 | €540,388 | +€439,079 | +433.4% |
| Profit (loss) for the period to be appropriated | 9905 | €101,309 | €540,388 | +€439,079 | +433.4% |
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 6 October 2026 via checked.be.