STOELEZVOUS: 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.
STOELEZVOUS
Largest movements
- Tangible fixed assets +€44,293
up €44,293 (+10.7%), from €415,395 to €459,689
of which Leasing and similar rights: +€41,609
- Cash -€24,414
down €24,414 (-32.8%), from €74,543 to €50,129
mainly Investment in fixed assets (net) (-€90,122) and Trade debts (-€30,597)
- Receivables within one year -€13,076
down €13,076 (-32.0%), from €40,908 to €27,832
of which Trade receivables: -€10,367
- Stocks and contracts +€5,761
up €5,761 (+32.3%), from €17,816 to €23,577
- Trade debts -€30,597
down €30,597 (-47.0%), from €65,050 to €34,453
- Reserves +€17,818
up €17,818 (+23.8%), from €74,792 to €92,610
- Current portion of long-term debt +€15,937
up €15,937 (+32.2%), from €49,454 to €65,392
- Debts after one year +€13,038
up €13,038 (+3.9%), from €337,904 to €350,942
- Staff costs +€18,136
up €18,136 (+27.6%), from €65,809 to €83,945
- Gross operating margin +€6,559
up €6,559 (+4.1%), from €161,371 to €167,930
- Depreciation +€3,739
up €3,739 (+8.9%), from €42,090 to €45,829
- Taxes -€2,764
down €2,764 (-31.1%), from €8,901 to €6,137
- Financial charges +€1,994
up €1,994 (+27.6%), from €7,225 to €9,219
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 | €549,181 | €561,979 | +€12,798 | +2.3% |
| Fixed assets | 21/28 | €415,395 | €459,689 | +€44,293 | +10.7% |
| Tangible fixed assets | 22/27 | €415,395 | €459,689 | +€44,293 | +10.7% |
| Land and buildings | 22 | €302,838 | €284,502 | -€18,336 | -6.1% |
| Plant, machinery and equipment | 23 | €93,272 | €115,603 | +€22,331 | +23.9% |
| Furniture and vehicles | 24 | €8,262 | €6,952 | -€1,311 | -15.9% |
| Leasing and similar rights | 25 | €11,023 | €52,632 | +€41,609 | +377.5% |
| Current assets | 29/58 | €133,785 | €102,290 | -€31,495 | -23.5% |
| Stocks and contracts in progress | 3 | €17,816 | €23,577 | +€5,761 | +32.3% |
| Stocks | 30/36 | €17,816 | €23,577 | +€5,761 | +32.3% |
| Amounts receivable within one year | 40/41 | €40,908 | €27,832 | -€13,076 | -32.0% |
| Trade receivables | 40 | €17,509 | €7,142 | -€10,367 | -59.2% |
| Other amounts receivable | 41 | €23,400 | €20,690 | -€2,710 | -11.6% |
| Cash at bank and in hand | 54/58 | €74,543 | €50,129 | -€24,414 | -32.8% |
| Deferred charges and accrued income | 490/1 | €518 | €752 | +€234 | +45.2% |
| Total equity and liabilities | 10/49 | €549,181 | €561,979 | +€12,798 | +2.3% |
| Equity | 10/15 | €84,792 | €102,610 | +€17,818 | +21.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €74,792 | €92,610 | +€17,818 | +23.8% |
| Distributable reserves | 133 | €74,792 | €92,610 | +€17,818 | +23.8% |
| Amounts payable | 17/49 | €464,388 | €459,369 | -€5,020 | -1.1% |
| Amounts payable after more than one year | 17 | €337,904 | €350,942 | +€13,038 | +3.9% |
| Financial debts | 170/4 | €337,904 | €350,942 | +€13,038 | +3.9% |
| Amounts payable within one year | 42/48 | €126,235 | €108,177 | -€18,058 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €49,454 | €65,392 | +€15,937 | +32.2% |
| Trade debts | 44 | €65,050 | €34,453 | -€30,597 | -47.0% |
| Suppliers | 440/4 | €65,050 | €34,453 | -€30,597 | -47.0% |
| Advances received on contracts in progress | 46 | €4,845 | €0 | -€4,845 | -100.0% |
| Taxes, remuneration and social security | 45 | €6,884 | €8,332 | +€1,447 | +21.0% |
| Taxes | 450/3 | €1,361 | €4,563 | +€3,202 | +235.4% |
| Remuneration and social security | 454/9 | €5,524 | €3,769 | -€1,755 | -31.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €65,809 | €83,945 | +€18,136 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,090 | €45,829 | +€3,739 | +8.9% |
| Other operating charges | 640/8 | €4,446 | €5,831 | +€1,384 | +31.1% |
| Gross operating margin | 9900 | €161,371 | €167,930 | +€6,559 | +4.1% |
| Operating profit (loss) | 9901 | €49,026 | €32,325 | -€16,701 | -34.1% |
| Financial income | 75/76B | €236 | €849 | +€613 | +260.0% |
| Recurring financial income | 75 | €236 | €849 | +€613 | +260.0% |
| Financial charges | 65/66B | €7,225 | €9,219 | +€1,994 | +27.6% |
| Recurring financial charges | 65 | €7,225 | €9,219 | +€1,994 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €42,037 | €23,955 | -€18,082 | -43.0% |
| Income taxes | 67/77 | €8,901 | €6,137 | -€2,764 | -31.1% |
| Profit (loss) for the period | 9904 | €33,136 | €17,818 | -€15,318 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,136 | €17,818 | -€15,318 | -46.2% |
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.