Stelvio: 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.
Stelvio
Largest movements
- Cash +€32,257
up €32,257 (+51.1%), from €63,138 to €95,395
mainly Net result for the year (+€37,342) and Tax, wage and social debts (+€5,403)
- Receivables within one year +€4,509
up €4,509 (+119.1%), from €3,786 to €8,295
- Tangible fixed assets +€1,631
up €1,631 (+54.9%), from €2,970 to €4,601
- Reserves +€37,342
up €37,342 (+101.1%), from €36,936 to €74,278
- Tax, wage and social debts +€5,403
up €5,403 (+24.7%), from €21,897 to €27,300
- Trade debts -€3,294
down €3,294 (-86.4%), from €3,815 to €520
- Gross operating margin +€1,988
up €1,988 (+3.6%), from €55,389 to €57,377
- Depreciation +€787
up €787 (+494.9%), from €159 to €946
- Other operating charges +€631
up €631 (+127.9%), from €493 to €1,124
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 | €69,894 | €108,292 | +€38,398 | +54.9% |
| Fixed assets | 21/28 | €2,970 | €4,601 | +€1,631 | +54.9% |
| Tangible fixed assets | 22/27 | €2,970 | €4,601 | +€1,631 | +54.9% |
| Furniture and vehicles | 24 | €2,970 | €4,601 | +€1,631 | +54.9% |
| Current assets | 29/58 | €66,924 | €103,690 | +€36,766 | +54.9% |
| Amounts receivable within one year | 40/41 | €3,786 | €8,295 | +€4,509 | +119.1% |
| Trade receivables | 40 | €3,786 | €8,295 | +€4,509 | +119.1% |
| Cash at bank and in hand | 54/58 | €63,138 | €95,395 | +€32,257 | +51.1% |
| Total equity and liabilities | 10/49 | €69,894 | €108,292 | +€38,398 | +54.9% |
| Equity | 10/15 | €39,936 | €77,278 | +€37,342 | +93.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €36,936 | €74,278 | +€37,342 | +101.1% |
| Distributable reserves | 133 | €36,936 | €74,278 | +€37,342 | +101.1% |
| Amounts payable | 17/49 | €29,958 | €31,014 | +€1,056 | +3.5% |
| Amounts payable within one year | 42/48 | €27,958 | €29,014 | +€1,056 | +3.8% |
| Trade debts | 44 | €3,815 | €520 | -€3,294 | -86.4% |
| Suppliers | 440/4 | €3,815 | €520 | -€3,294 | -86.4% |
| Taxes, remuneration and social security | 45 | €21,897 | €27,300 | +€5,403 | +24.7% |
| Taxes | 450/3 | €21,897 | €27,300 | +€5,403 | +24.7% |
| Other amounts payable | 47/48 | €2,247 | €1,193 | -€1,053 | -46.9% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159 | €946 | +€787 | +494.9% |
| Other operating charges | 640/8 | €493 | €1,124 | +€631 | +127.9% |
| Gross operating margin | 9900 | €55,389 | €57,377 | +€1,988 | +3.6% |
| Operating profit (loss) | 9901 | €54,736 | €55,306 | +€570 | +1.0% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €43 | €103 | +€61 | +141.9% |
| Recurring financial charges | 65 | €43 | €103 | +€61 | +141.9% |
| Profit (loss) for the period before taxes | 9903 | €54,695 | €55,203 | +€508 | +0.9% |
| Income taxes | 67/77 | €17,760 | €17,861 | +€101 | +0.6% |
| Profit (loss) for the period | 9904 | €36,936 | €37,342 | +€407 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,936 | €37,342 | +€407 | +1.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.