STIELATELIER: 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.
STIELATELIER
Largest movements
- Tangible fixed assets +€349,224
up €349,224 (+218.7%), from €159,718 to €508,941
of which Land and buildings: +€330,551
- Cash -€182,126
down €182,126 (-83.1%), from €219,079 to €36,953
mainly Investment in fixed assets (net) (-€367,152) and Contributions, distributions and other (-€94,118)
- Receivables within one year -€128,740
down €128,740 (-74.9%), from €171,952 to €43,212
of which Trade receivables: -€132,844
- Debts after one year +€124,823
up €124,823 (+63.7%), from €195,809 to €320,632
- Tax, wage and social debts -€43,522
down €43,522 (-80.4%), from €54,137 to €10,615
of which Taxes: -€43,652
- Other debts -€40,301
down €40,301 (-59.1%), from €68,218 to €27,917
- Reserves -€30,103
down €30,103 (-13.1%), from €229,909 to €199,806
- Current portion of long-term debt +€18,608
new in 2025: €18,608
- Gross operating margin -€46,079
down €46,079 (-25.3%), from €182,460 to €136,382
- Taxes -€29,084
down €29,084 (-70.0%), from €41,558 to €12,474
- Depreciation +€14,163
up €14,163 (+376.2%), from €3,765 to €17,929
- Financial charges +€9,426
up €9,426 (+234.4%), from €4,021 to €13,446
- Staff costs -€4,802
down €4,802 (-14.8%), from €32,397 to €27,595
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 | €551,074 | €590,054 | +€38,981 | +7.1% |
| Fixed assets | 21/28 | €159,718 | €508,941 | +€349,224 | +218.7% |
| Tangible fixed assets | 22/27 | €159,718 | €508,941 | +€349,224 | +218.7% |
| Land and buildings | 22 | €153,000 | €483,551 | +€330,551 | +216.0% |
| Plant, machinery and equipment | 23 | €1,497 | €19,054 | +€17,557 | +1173.1% |
| Furniture and vehicles | 24 | €5,221 | €6,337 | +€1,116 | +21.4% |
| Current assets | 29/58 | €391,356 | €81,113 | -€310,243 | -79.3% |
| Amounts receivable within one year | 40/41 | €171,952 | €43,212 | -€128,740 | -74.9% |
| Trade receivables | 40 | €161,030 | €28,186 | -€132,844 | -82.5% |
| Other amounts receivable | 41 | €10,922 | €15,026 | +€4,104 | +37.6% |
| Cash at bank and in hand | 54/58 | €219,079 | €36,953 | -€182,126 | -83.1% |
| Deferred charges and accrued income | 490/1 | €325 | €948 | +€623 | +191.8% |
| Total equity and liabilities | 10/49 | €551,074 | €590,054 | +€38,981 | +7.1% |
| Equity | 10/15 | €232,909 | €202,806 | -€30,103 | -12.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €229,909 | €199,806 | -€30,103 | -13.1% |
| Distributable reserves | 133 | €229,909 | €199,806 | -€30,103 | -13.1% |
| Amounts payable | 17/49 | €318,164 | €387,248 | +€69,084 | +21.7% |
| Amounts payable after more than one year | 17 | €195,809 | €320,632 | +€124,823 | +63.7% |
| Financial debts | 170/4 | €195,809 | €320,632 | +€124,823 | +63.7% |
| Amounts payable within one year | 42/48 | €122,355 | €66,616 | -€55,739 | -45.6% |
| Current portion of amounts payable after more than one year | 42 | - | €18,608 | +€18,608 | |
| Trade debts | 44 | - | €9,477 | +€9,477 | |
| Suppliers | 440/4 | - | €9,477 | +€9,477 | |
| Taxes, remuneration and social security | 45 | €54,137 | €10,615 | -€43,522 | -80.4% |
| Taxes | 450/3 | €49,285 | €5,633 | -€43,652 | -88.6% |
| Remuneration and social security | 454/9 | €4,852 | €4,982 | +€130 | +2.7% |
| Other amounts payable | 47/48 | €68,218 | €27,917 | -€40,301 | -59.1% |
| Remuneration, social security and pensions | 62 | €32,397 | €27,595 | -€4,802 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,765 | €17,929 | +€14,163 | +376.2% |
| Other operating charges | 640/8 | €654 | €1,391 | +€736 | +112.5% |
| Gross operating margin | 9900 | €182,460 | €136,382 | -€46,079 | -25.3% |
| Operating profit (loss) | 9901 | €145,644 | €89,467 | -€56,177 | -38.6% |
| Financial income | 75/76B | €44 | €468 | +€424 | +965.6% |
| Recurring financial income | 75 | €44 | €468 | +€424 | +965.6% |
| Financial charges | 65/66B | €4,021 | €13,446 | +€9,426 | +234.4% |
| Recurring financial charges | 65 | €4,021 | €13,446 | +€9,426 | +234.4% |
| Profit (loss) for the period before taxes | 9903 | €141,667 | €76,489 | -€65,178 | -46.0% |
| Income taxes | 67/77 | €41,558 | €12,474 | -€29,084 | -70.0% |
| Profit (loss) for the period | 9904 | €100,109 | €64,015 | -€36,094 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €100,109 | €64,015 | -€36,094 | -36.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.