Stieldoors: 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.
Stieldoors
Largest movements
- Cash +€52,062
up €52,062 (+49.8%), from €104,608 to €156,670
mainly Net result for the year (+€64,249) and Depreciation (+€26,969)
- Receivables within one year -€4,493
down €4,493 (-65.8%), from €6,825 to €2,332
- Profit (loss) carried forward +€64,249
up €64,249 (+77.6%), from €82,750 to €146,999
- Debts after one year -€14,771
down €14,771 (-30.4%), from €48,601 to €33,831
- Other debts -€4,780
down €4,780 (-13.1%), from €36,547 to €31,767
- Trade debts +€4,683
new in 2025: €4,683
- Tax, wage and social debts -€4,181
down €4,181 (-17.6%), from €23,803 to €19,622
- Gross operating margin +€28,106
up €28,106 (+33.9%), from €83,024 to €111,130
- Taxes +€4,784
up €4,784 (+41.4%), from €11,566 to €16,350
- Depreciation +€3,506
up €3,506 (+14.9%), from €23,463 to €26,969
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 | €206,259 | €253,057 | +€46,798 | +22.7% |
| Fixed assets | 21/28 | €91,207 | €90,435 | -€771 | -0.8% |
| Tangible fixed assets | 22/27 | €91,207 | €90,435 | -€771 | -0.8% |
| Land and buildings | 22 | €6,185 | €19,958 | +€13,773 | +222.7% |
| Plant, machinery and equipment | 23 | €10,243 | €15,252 | +€5,009 | +48.9% |
| Furniture and vehicles | 24 | €74,778 | €55,225 | -€19,553 | -26.1% |
| Current assets | 29/58 | €115,052 | €162,622 | +€47,569 | +41.3% |
| Stocks and contracts in progress | 3 | €3,620 | €3,620 | = | 0.0% |
| Stocks | 30/36 | €3,620 | €3,620 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,825 | €2,332 | -€4,493 | -65.8% |
| Trade receivables | 40 | €6,825 | €2,332 | -€4,493 | -65.8% |
| Cash at bank and in hand | 54/58 | €104,608 | €156,670 | +€52,062 | +49.8% |
| Total equity and liabilities | 10/49 | €206,259 | €253,057 | +€46,798 | +22.7% |
| Equity | 10/15 | €85,250 | €149,499 | +€64,249 | +75.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Capital | 10 | €2,500 | €2,500 | = | 0.0% |
| Issued capital | 100 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,750 | €146,999 | +€64,249 | +77.6% |
| Amounts payable | 17/49 | €121,010 | €103,558 | -€17,451 | -14.4% |
| Amounts payable after more than one year | 17 | €48,601 | €33,831 | -€14,771 | -30.4% |
| Financial debts | 170/4 | €48,601 | €33,831 | -€14,771 | -30.4% |
| Amounts payable within one year | 42/48 | €72,408 | €69,727 | -€2,681 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €12,058 | €13,655 | +€1,597 | +13.2% |
| Trade debts | 44 | - | €4,683 | +€4,683 | |
| Suppliers | 440/4 | - | €4,683 | +€4,683 | |
| Taxes, remuneration and social security | 45 | €23,803 | €19,622 | -€4,181 | -17.6% |
| Taxes | 450/3 | €23,803 | €19,622 | -€4,181 | -17.6% |
| Other amounts payable | 47/48 | €36,547 | €31,767 | -€4,780 | -13.1% |
| Non-recurring operating income | 76A | €3,271 | - | -€3,271 | |
| Remuneration, social security and pensions | 62 | - | €887 | +€887 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,463 | €26,969 | +€3,506 | +14.9% |
| Other operating charges | 640/8 | €422 | €633 | +€212 | +50.2% |
| Gross operating margin | 9900 | €83,024 | €111,130 | +€28,106 | +33.9% |
| Operating profit (loss) | 9901 | €59,139 | €82,640 | +€23,501 | +39.7% |
| Financial income | 75/76B | €195 | - | -€195 | |
| Recurring financial income | 75 | €195 | - | -€195 | |
| Financial charges | 65/66B | €1,950 | €2,041 | +€91 | +4.7% |
| Recurring financial charges | 65 | €1,950 | €2,041 | +€91 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €57,384 | €80,599 | +€23,215 | +40.5% |
| Income taxes | 67/77 | €11,566 | €16,350 | +€4,784 | +41.4% |
| Profit (loss) for the period | 9904 | €45,818 | €64,249 | +€18,431 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,818 | €64,249 | +€18,431 | +40.2% |
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 7 October 2026 via checked.be.