STOKED: 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.
STOKED
Largest movements
- Tangible fixed assets +€424,401
up €424,401 (+841%), from €50,469 to €474,870
of which Land and buildings: +€425,987
- Stocks and contracts -€215,670
down €215,670 (-24.0%), from €899,213 to €683,543
- Cash +€154,590
up €154,590 (+87.3%), from €177,027 to €331,617
mainly Debts after one year (+€377,065) and Stocks and contracts (+€215,670)
- Receivables within one year +€114,228
up €114,228 (+74.4%), from €153,622 to €267,850
of which Trade receivables: +€109,060
- Debts after one year +€377,065
up €377,065 (+1,132%), from €33,314 to €410,379
- Current portion of long-term debt +€95,496
up €95,496 (+11.8%), from €806,137 to €901,633
- Other debts +€78,333
up €78,333 (+43.9%), from €178,462 to €256,795
- Trade debts -€44,246
down €44,246 (-28.4%), from €155,658 to €111,412
- Tax, wage and social debts -€43,454
down €43,454 (-43.7%), from €99,356 to €55,902
of which Taxes: -€24,274
- Staff costs -€53,915
down €53,915 (-37.3%), from €144,373 to €90,458
- Write-downs -€50,000
new in 2025: -€50,000
- Financial charges -€30,225
down €30,225 (-43.8%), from €69,056 to €38,830
- Gross operating margin +€19,956
up €19,956 (+22.5%), from €88,764 to €108,720
- Depreciation +€6,249
up €6,249 (+64.6%), from €9,670 to €15,920
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 | €1,283,348 | €1,759,096 | +€475,748 | +37.1% |
| Fixed assets | 21/28 | €52,224 | €476,025 | +€423,801 | +811% |
| Intangible fixed assets | 21 | €1,756 | €1,156 | -€600 | -34.2% |
| Tangible fixed assets | 22/27 | €50,469 | €474,870 | +€424,401 | +841% |
| Land and buildings | 22 | €10,021 | €436,008 | +€425,987 | +4,251% |
| Plant, machinery and equipment | 23 | €18,302 | €16,021 | -€2,281 | -12.5% |
| Furniture and vehicles | 24 | €22,146 | €22,841 | +€695 | +3.1% |
| Current assets | 29/58 | €1,231,123 | €1,283,070 | +€51,947 | +4.2% |
| Stocks and contracts in progress | 3 | €899,213 | €683,543 | -€215,670 | -24.0% |
| Stocks | 30/36 | €899,213 | €683,543 | -€215,670 | -24.0% |
| Amounts receivable within one year | 40/41 | €153,622 | €267,850 | +€114,228 | +74.4% |
| Trade receivables | 40 | €150,000 | €259,060 | +€109,060 | +72.7% |
| Other amounts receivable | 41 | €3,622 | €8,790 | +€5,168 | +143% |
| Cash at bank and in hand | 54/58 | €177,027 | €331,617 | +€154,590 | +87.3% |
| Deferred charges and accrued income | 490/1 | €1,261 | €61 | -€1,200 | -95.2% |
| Total equity and liabilities | 10/49 | €1,283,348 | €1,759,096 | +€475,748 | +37.1% |
| Equity | 10/15 | €8,140 | €20,299 | +€12,159 | +149% |
| Contributions | 10/11 | €118,100 | €118,100 | = | 0.0% |
| Reserves | 13 | €4,360 | €4,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,360 | €4,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,360 | €4,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€114,320 | -€102,161 | +€12,159 | +10.6% |
| Amounts payable | 17/49 | €1,275,208 | €1,738,797 | +€463,589 | +36.4% |
| Amounts payable after more than one year | 17 | €33,314 | €410,379 | +€377,065 | +1,132% |
| Financial debts | 170/4 | €33,314 | €410,379 | +€377,065 | +1,132% |
| Amounts payable within one year | 42/48 | €1,241,893 | €1,328,418 | +€86,524 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €806,137 | €901,633 | +€95,496 | +11.8% |
| Financial debts | 43 | €2,280 | €2,321 | +€41 | +1.8% |
| Credit institutions | 430/8 | €2,280 | €2,321 | +€41 | +1.8% |
| Trade debts | 44 | €155,658 | €111,412 | -€44,246 | -28.4% |
| Suppliers | 440/4 | €155,658 | €111,412 | -€44,246 | -28.4% |
| Advances received on contracts in progress | 46 | - | €355 | +€355 | |
| Taxes, remuneration and social security | 45 | €99,356 | €55,902 | -€43,454 | -43.7% |
| Taxes | 450/3 | €68,471 | €44,198 | -€24,274 | -35.5% |
| Remuneration and social security | 454/9 | €30,885 | €11,705 | -€19,181 | -62.1% |
| Other amounts payable | 47/48 | €178,462 | €256,795 | +€78,333 | +43.9% |
| Remuneration, social security and pensions | 62 | €144,373 | €90,458 | -€53,915 | -37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,670 | €15,920 | +€6,249 | +64.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€50,000 | -€50,000 | |
| Other operating charges | 640/8 | €1,090 | €1,580 | +€490 | +44.9% |
| Gross operating margin | 9900 | €88,764 | €108,720 | +€19,956 | +22.5% |
| Operating profit (loss) | 9901 | -€66,370 | €50,762 | +€117,132 | |
| Financial income | 75/76B | €1,303 | €227 | -€1,076 | -82.6% |
| Recurring financial income | 75 | €1,303 | €227 | -€1,076 | -82.6% |
| Financial charges | 65/66B | €69,056 | €38,830 | -€30,225 | -43.8% |
| Recurring financial charges | 65 | €69,056 | €38,830 | -€30,225 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | -€134,123 | €12,159 | +€146,282 | |
| Income taxes | 67/77 | -€0 | - | +€0 | |
| Profit (loss) for the period | 9904 | -€134,123 | €12,159 | +€146,281 | |
| Profit (loss) for the period to be appropriated | 9905 | -€134,123 | €12,159 | +€146,281 |
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 24 October 2026 via checked.be.