STELOTRANS: 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.
STELOTRANS
Largest movements
- Cash +€7,286
up €7,286 (+29.7%), from €24,544 to €31,829
mainly Depreciation (+€12,949) and Net result for the year (+€9,260)
- Tangible fixed assets -€6,739
down €6,739 (-12.2%), from €55,224 to €48,486
of which Land and buildings: -€6,653
- Receivables within one year -€4,105
down €4,105 (-10.8%), from €38,136 to €34,031
of which Trade receivables: -€2,267
- Debts after one year -€11,161
down €11,161 (-34.0%), from €32,873 to €21,712
- Reserves +€9,260
up €9,260 (+43.4%), from €21,335 to €30,595
- Current portion of long-term debt -€7,207
down €7,207 (-38.0%), from €18,977 to €11,770
- Trade debts +€4,105
up €4,105 (+194%), from €2,121 to €6,226
- Depreciation -€14,413
down €14,413 (-52.7%), from €27,362 to €12,949
- Gross operating margin -€10,396
down €10,396 (-24.2%), from €43,003 to €32,607
- Taxes +€2,998
up €2,998 (+1,855%), from €162 to €3,160
- Financial charges -€808
down €808 (-18.6%), from €4,341 to €3,533
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.
Derived cash bridge
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 | €127,547 | €122,734 | -€4,813 | -3.8% |
| Fixed assets | 21/28 | €62,887 | €56,148 | -€6,739 | -10.7% |
| Tangible fixed assets | 22/27 | €55,224 | €48,486 | -€6,739 | -12.2% |
| Land and buildings | 22 | €44,350 | €37,697 | -€6,653 | -15.0% |
| Plant, machinery and equipment | 23 | €4,468 | €2,180 | -€2,288 | -51.2% |
| Furniture and vehicles | 24 | €6,406 | €8,609 | +€2,203 | +34.4% |
| Financial fixed assets | 28 | €7,662 | €7,662 | = | 0.0% |
| Current assets | 29/58 | €64,660 | €66,586 | +€1,926 | +3.0% |
| Amounts receivable within one year | 40/41 | €38,136 | €34,031 | -€4,105 | -10.8% |
| Trade receivables | 40 | €36,298 | €34,031 | -€2,267 | -6.2% |
| Other amounts receivable | 41 | €1,838 | €0 | -€1,838 | -100% |
| Cash at bank and in hand | 54/58 | €24,544 | €31,829 | +€7,286 | +29.7% |
| Deferred charges and accrued income | 490/1 | €1,981 | €726 | -€1,255 | -63.4% |
| Total equity and liabilities | 10/49 | €127,547 | €122,734 | -€4,813 | -3.8% |
| Equity | 10/15 | €71,253 | €80,513 | +€9,260 | +13.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €21,335 | €30,595 | +€9,260 | +43.4% |
| Distributable reserves | 133 | €21,335 | €30,595 | +€9,260 | +43.4% |
| Profit (loss) carried forward | 14 | €31,326 | €31,326 | = | 0.0% |
| Amounts payable | 17/49 | €56,294 | €42,221 | -€14,073 | -25.0% |
| Amounts payable after more than one year | 17 | €32,873 | €21,712 | -€11,161 | -34.0% |
| Financial debts | 170/4 | €32,873 | €21,712 | -€11,161 | -34.0% |
| Amounts payable within one year | 42/48 | €23,421 | €20,509 | -€2,911 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €18,977 | €11,770 | -€7,207 | -38.0% |
| Trade debts | 44 | €2,121 | €6,226 | +€4,105 | +194% |
| Suppliers | 440/4 | €2,121 | €6,226 | +€4,105 | +194% |
| Taxes, remuneration and social security | 45 | €2,149 | €2,416 | +€267 | +12.4% |
| Taxes | 450/3 | €2,149 | €2,416 | +€267 | +12.4% |
| Other amounts payable | 47/48 | €174 | €97 | -€77 | -44.3% |
| Non-recurring operating income | 76A | €5,412 | €6,714 | +€1,302 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,362 | €12,949 | -€14,413 | -52.7% |
| Other operating charges | 640/8 | €3,883 | €3,710 | -€173 | -4.5% |
| Non-recurring operating charges | 66A | €51 | €0 | -€51 | -100% |
| Gross operating margin | 9900 | €43,003 | €32,607 | -€10,396 | -24.2% |
| Operating profit (loss) | 9901 | €11,706 | €15,947 | +€4,241 | +36.2% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €4,341 | €3,533 | -€808 | -18.6% |
| Recurring financial charges | 65 | €4,341 | €3,533 | -€808 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €7,365 | €12,420 | +€5,055 | +68.6% |
| Income taxes | 67/77 | €162 | €3,160 | +€2,998 | +1,855% |
| Profit (loss) for the period | 9904 | €7,203 | €9,260 | +€2,057 | +28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,203 | €9,260 | +€2,057 | +28.6% |
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 19 October 2026 via checked.be.