STIELVOL: 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.
STIELVOL
Largest movements
- Deferred charges and accrued income +€93,134
up €93,134 (+2326.8%), from €4,003 to €97,137
- Tangible fixed assets +€49,081
up €49,081 (+464.8%), from €10,559 to €59,640
of which Furniture and vehicles: +€41,509
- Receivables within one year +€48,702
up €48,702 (+110.4%), from €44,107 to €92,808
of which Trade receivables: +€57,585
- Cash +€20,341
up €20,341 (+233.5%), from €8,712 to €29,053
mainly Accrued charges and deferred income (+€103,333) and Net result for the year (+€58,121)
- Accrued charges and deferred income +€103,333
up €103,333, from €0 to €103,333
- Reserves +€56,251
up €56,251 (+141.8%), from €39,659 to €95,910
- Debts after one year +€30,309
up €30,309, from €0 to €30,309
- Trade debts +€17,591
up €17,591 (+85.1%), from €20,673 to €38,264
- Current portion of long-term debt +€7,551
up €7,551 (+1369.1%), from €552 to €8,103
- Gross operating margin +€111,589
up €111,589, from -€23,599 to €87,990
- Taxes +€16,201
up €16,201 (+2950.3%), from €549 to €16,750
- Depreciation +€5,177
up €5,177 (+107.2%), from €4,829 to €10,006
- Financial charges +€928
up €928 (+257.3%), from €361 to €1,288
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 | €76,706 | €290,737 | +€214,031 | +279.0% |
| Fixed assets | 21/28 | €15,460 | €67,113 | +€51,653 | +334.1% |
| Intangible fixed assets | 21 | - | €2,573 | +€2,573 | |
| Tangible fixed assets | 22/27 | €10,559 | €59,640 | +€49,081 | +464.8% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €960 | €4,742 | +€3,782 | +393.7% |
| Furniture and vehicles | 24 | €9,599 | €51,107 | +€41,509 | +432.4% |
| Other tangible fixed assets | 26 | - | €3,790 | +€3,790 | |
| Financial fixed assets | 28 | €4,901 | €4,901 | = | 0.0% |
| Current assets | 29/58 | €61,246 | €223,624 | +€162,378 | +265.1% |
| Stocks and contracts in progress | 3 | €4,425 | €4,625 | +€200 | +4.5% |
| Stocks | 30/36 | €4,425 | €4,625 | +€200 | +4.5% |
| Amounts receivable within one year | 40/41 | €44,107 | €92,808 | +€48,702 | +110.4% |
| Trade receivables | 40 | €34,579 | €92,164 | +€57,585 | +166.5% |
| Other amounts receivable | 41 | €9,528 | €644 | -€8,884 | -93.2% |
| Cash at bank and in hand | 54/58 | €8,712 | €29,053 | +€20,341 | +233.5% |
| Deferred charges and accrued income | 490/1 | €4,003 | €97,137 | +€93,134 | +2326.8% |
| Total equity and liabilities | 10/49 | €76,706 | €290,737 | +€214,031 | +279.0% |
| Equity | 10/15 | €39,289 | €97,410 | +€58,121 | +147.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €39,659 | €95,910 | +€56,251 | +141.8% |
| Distributable reserves | 133 | €39,659 | €95,910 | +€56,251 | +141.8% |
| Profit (loss) carried forward | 14 | -€1,870 | €0 | +€1,870 | |
| Amounts payable | 17/49 | €37,417 | €193,327 | +€155,910 | +416.7% |
| Amounts payable after more than one year | 17 | €0 | €30,309 | +€30,309 | |
| Financial debts | 170/4 | €0 | €30,309 | +€30,309 | |
| Amounts payable within one year | 42/48 | €37,417 | €59,684 | +€22,268 | +59.5% |
| Current portion of amounts payable after more than one year | 42 | €552 | €8,103 | +€7,551 | +1369.1% |
| Financial debts | 43 | €4,414 | €5,288 | +€874 | +19.8% |
| Credit institutions | 430/8 | €4,414 | €5,288 | +€874 | +19.8% |
| Trade debts | 44 | €20,673 | €38,264 | +€17,591 | +85.1% |
| Suppliers | 440/4 | €20,673 | €38,264 | +€17,591 | +85.1% |
| Taxes, remuneration and social security | 45 | €11,481 | €6,310 | -€5,171 | -45.0% |
| Taxes | 450/3 | €11,481 | €6,310 | -€5,171 | -45.0% |
| Other amounts payable | 47/48 | €297 | €1,719 | +€1,422 | +479.3% |
| Accrued charges and deferred income | 492/3 | €0 | €103,333 | +€103,333 | |
| Non-recurring operating income | 76A | €918 | €9,089 | +€8,171 | +890.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,829 | €10,006 | +€5,177 | +107.2% |
| Other operating charges | 640/8 | €2,679 | €2,807 | +€128 | +4.8% |
| Non-recurring operating charges | 66A | €406 | €0 | -€406 | -100.0% |
| Gross operating margin | 9900 | -€23,599 | €87,990 | +€111,589 | |
| Operating profit (loss) | 9901 | -€31,513 | €75,177 | +€106,690 | |
| Financial income | 75/76B | €1,636 | €983 | -€653 | -39.9% |
| Recurring financial income | 75 | €1,636 | €983 | -€653 | -39.9% |
| Financial charges | 65/66B | €361 | €1,288 | +€928 | +257.3% |
| Recurring financial charges | 65 | €361 | €1,288 | +€928 | +257.3% |
| Profit (loss) for the period before taxes | 9903 | -€30,238 | €74,871 | +€105,109 | |
| Income taxes | 67/77 | €549 | €16,750 | +€16,201 | +2950.3% |
| Profit (loss) for the period | 9904 | -€30,788 | €58,121 | +€88,908 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,788 | €58,121 | +€88,908 |
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 11 October 2026 via checked.be.