STL & Co: 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.
STL & Co
Largest movements
- Tangible fixed assets +€377,340
up €377,340 (+31.5%), from €1.2m to €1.6m
of which Land and buildings: +€381,282
- Receivables within one year -€59,537
down €59,537 (-39.3%), from €151,419 to €91,882
of which Trade receivables: -€57,526
- Current investments -€44,069
down €44,069 (-31.3%), from €140,776 to €96,707
- Cash -€25,019
down €25,019 (-18.5%), from €135,514 to €110,495
mainly Investment in fixed assets (net) (-€456,243) and Tax, wage and social debts (-€11,526)
- Debts after one year +€189,167
up €189,167 (+19.0%), from €994,412 to €1.2m
of which Financial debts: +€189,167
- Trade debts +€27,399
up €27,399 (+317%), from €8,652 to €36,051
- Depreciation +€22,646
up €22,646 (+40.3%), from €56,257 to €78,903
- Gross operating margin +€21,342
up €21,342 (+20.9%), from €102,075 to €123,417
- Financial charges +€5,465
up €5,465 (+15.2%), from €36,004 to €41,469
- Financial income +€2,093
up €2,093 (+138%), from €1,515 to €3,608
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.
Derived cash bridge
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 | €1,639,332 | €1,876,238 | +€236,906 | +14.5% |
| Fixed assets | 21/28 | €1,196,622 | €1,573,962 | +€377,340 | +31.5% |
| Tangible fixed assets | 22/27 | €1,196,072 | €1,573,412 | +€377,340 | +31.5% |
| Land and buildings | 22 | €1,182,135 | €1,563,417 | +€381,282 | +32.3% |
| Plant, machinery and equipment | 23 | €9,281 | €6,065 | -€3,216 | -34.6% |
| Furniture and vehicles | 24 | €4,656 | €3,930 | -€726 | -15.6% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €442,710 | €302,276 | -€140,434 | -31.7% |
| Amounts receivable within one year | 40/41 | €151,419 | €91,882 | -€59,537 | -39.3% |
| Trade receivables | 40 | €149,010 | €91,484 | -€57,526 | -38.6% |
| Other amounts receivable | 41 | €2,409 | €398 | -€2,011 | -83.5% |
| Current investments | 50/53 | €140,776 | €96,707 | -€44,069 | -31.3% |
| Cash at bank and in hand | 54/58 | €135,514 | €110,495 | -€25,019 | -18.5% |
| Deferred charges and accrued income | 490/1 | €15,001 | €3,192 | -€11,809 | -78.7% |
| Total equity and liabilities | 10/49 | €1,639,332 | €1,876,238 | +€236,906 | +14.5% |
| Equity | 10/15 | €489,598 | €489,862 | +€264 | +0.1% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Revaluation surpluses | 12 | €17,140 | €17,140 | +€0 | 0.0% |
| Reserves | 13 | €77,410 | €77,410 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €174 | €174 | -€0 | -0.1% |
| Distributable reserves | 133 | €77,236 | €77,236 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €45,048 | €45,312 | +€264 | +0.6% |
| Amounts payable | 17/49 | €1,149,735 | €1,386,376 | +€236,642 | +20.6% |
| Amounts payable after more than one year | 17 | €994,412 | €1,183,579 | +€189,167 | +19.0% |
| Financial debts | 170/4 | €993,612 | €1,182,779 | +€189,167 | +19.0% |
| Other amounts payable | 178/9 | €800 | €800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €136,155 | €170,087 | +€33,932 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €60,833 | €60,833 | -€0 | 0.0% |
| Trade debts | 44 | €8,652 | €36,051 | +€27,399 | +317% |
| Suppliers | 440/4 | €8,652 | €36,051 | +€27,399 | +317% |
| Taxes, remuneration and social security | 45 | €13,980 | €2,454 | -€11,526 | -82.4% |
| Taxes | 450/3 | €13,980 | €2,454 | -€11,526 | -82.4% |
| Other amounts payable | 47/48 | €52,690 | €70,749 | +€18,059 | +34.3% |
| Accrued charges and deferred income | 492/3 | €19,167 | €32,710 | +€13,543 | +70.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,257 | €78,903 | +€22,646 | +40.3% |
| Other operating charges | 640/8 | €6,394 | €6,389 | -€5 | -0.1% |
| Gross operating margin | 9900 | €102,075 | €123,417 | +€21,342 | +20.9% |
| Operating profit (loss) | 9901 | €39,424 | €38,125 | -€1,299 | -3.3% |
| Financial income | 75/76B | €1,515 | €3,608 | +€2,093 | +138% |
| Recurring financial income | 75 | €1,515 | €3,608 | +€2,093 | +138% |
| Financial charges | 65/66B | €36,004 | €41,469 | +€5,465 | +15.2% |
| Recurring financial charges | 65 | €36,004 | €41,469 | +€5,465 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | €4,935 | €264 | -€4,671 | -94.7% |
| Profit (loss) for the period | 9904 | €4,935 | €264 | -€4,671 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,935 | €264 | -€4,671 | -94.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.