Stelune: 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.
Stelune
Largest movements
- Tangible fixed assets +€230,541
up €230,541 (+10.2%), from €2.3m to €2.5m
of which Land and buildings: +€212,598
- Other debts +€307,578
up €307,578, from €0 to €307,578
- Profit (loss) carried forward -€86,189
down €86,189 (-19.1%), from -€451,451 to -€537,641
- Depreciation +€19,343
up €19,343 (+23.4%), from €82,725 to €102,068
- Gross operating margin +€14,913
up €14,913 (+85.6%), from €17,422 to €32,335
- Other operating charges +€5,327
up €5,327 (+51.8%), from €10,278 to €15,605
- Financial charges +€977
up €977 (+2200.3%), from €44 to €1,022
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 | €2,312,150 | €2,529,110 | +€216,960 | +9.4% |
| Fixed assets | 21/28 | €2,269,126 | €2,499,666 | +€230,541 | +10.2% |
| Tangible fixed assets | 22/27 | €2,269,126 | €2,499,666 | +€230,541 | +10.2% |
| Land and buildings | 22 | €2,120,730 | €2,333,328 | +€212,598 | +10.0% |
| Plant, machinery and equipment | 23 | €85,081 | €88,386 | +€3,306 | +3.9% |
| Furniture and vehicles | 24 | €49,834 | €65,877 | +€16,043 | +32.2% |
| Other tangible fixed assets | 26 | €13,482 | €12,075 | -€1,406 | -10.4% |
| Current assets | 29/58 | €43,024 | €29,443 | -€13,581 | -31.6% |
| Amounts receivable within one year | 40/41 | €11,365 | €11,992 | +€627 | +5.5% |
| Trade receivables | 40 | €4,829 | €5,098 | +€269 | +5.6% |
| Other amounts receivable | 41 | €6,536 | €6,895 | +€358 | +5.5% |
| Current investments | 50/53 | - | €423 | +€423 | |
| Cash at bank and in hand | 54/58 | €26,885 | €8,719 | -€18,166 | -67.6% |
| Deferred charges and accrued income | 490/1 | €4,774 | €8,309 | +€3,535 | +74.0% |
| Total equity and liabilities | 10/49 | €2,312,150 | €2,529,110 | +€216,960 | +9.4% |
| Equity | 10/15 | -€391,720 | -€477,909 | -€86,189 | -22.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €53,532 | €53,532 | = | 0.0% |
| Distributable reserves | 133 | €53,532 | €53,532 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€451,451 | -€537,641 | -€86,189 | -19.1% |
| Amounts payable | 17/49 | €2,703,870 | €3,007,019 | +€303,149 | +11.2% |
| Amounts payable after more than one year | 17 | €2,659,558 | €2,659,558 | = | 0.0% |
| Financial debts | 170/4 | €2,659,558 | €2,659,558 | = | 0.0% |
| Amounts payable within one year | 42/48 | €44,312 | €347,461 | +€303,149 | +684.1% |
| Trade debts | 44 | €31,300 | €27,286 | -€4,015 | -12.8% |
| Suppliers | 440/4 | €31,300 | €27,286 | -€4,015 | -12.8% |
| Advances received on contracts in progress | 46 | €13,012 | €12,453 | -€559 | -4.3% |
| Taxes, remuneration and social security | 45 | - | €144 | +€144 | |
| Taxes | 450/3 | - | €144 | +€144 | |
| Other amounts payable | 47/48 | €0 | €307,578 | +€307,578 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,725 | €102,068 | +€19,343 | +23.4% |
| Other operating charges | 640/8 | €10,278 | €15,605 | +€5,327 | +51.8% |
| Gross operating margin | 9900 | €17,422 | €32,335 | +€14,913 | +85.6% |
| Operating profit (loss) | 9901 | -€75,581 | -€85,339 | -€9,757 | -12.9% |
| Financial income | 75/76B | €0 | €171 | +€171 | +121914.3% |
| Recurring financial income | 75 | €0 | €171 | +€171 | +121914.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €44 | €1,022 | +€977 | +2200.3% |
| Recurring financial charges | 65 | €44 | €1,022 | +€977 | +2200.3% |
| Profit (loss) for the period before taxes | 9903 | -€75,626 | -€86,189 | -€10,564 | -14.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€75,626 | -€86,189 | -€10,564 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€75,626 | -€86,189 | -€10,564 | -14.0% |
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 5 October 2026 via checked.be.