STOLER: 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.
STOLER
Largest movements
- Receivables after one year +€69,056
up €69,056 (+22.2%), from €311,650 to €380,706
- Receivables within one year +€39,695
up €39,695 (+76.3%), from €52,027 to €91,722
of which Trade receivables: +€30,202
- Tangible fixed assets -€17,274
down €17,274 (-8.0%), from €216,652 to €199,378
of which Land and buildings: -€22,282
- Reserves +€84,568
up €84,568 (+64.4%), from €131,276 to €215,844
of which Distributable reserves: +€60,000
- Debts after one year +€42,074
up €42,074 (+27.9%), from €150,814 to €192,888
- Tax, wage and social debts -€27,193
down €27,193 (-34.3%), from €79,291 to €52,099
of which Remuneration and social security: -€15,890
- Accrued charges and deferred income -€15,171
down €15,171 (-95.9%), from €15,817 to €646
- Provisions +€8,189
new in 2025: €8,189
- Gross operating margin +€90,076
up €90,076 (+51.9%), from €173,603 to €263,678
- Other operating charges +€9,300
up €9,300 (+38.5%), from €24,138 to €33,438
- Financial charges +€8,937
up €8,937 (+92.9%), from €9,618 to €18,555
- Staff costs +€8,883
up €8,883 (+14.0%), from €63,385 to €72,268
- Taxes +€6,893
up €6,893 (+30.6%), from €22,507 to €29,400
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 | €589,818 | €678,106 | +€88,289 | +15.0% |
| Fixed assets | 21/28 | €219,628 | €202,034 | -€17,594 | -8.0% |
| Intangible fixed assets | 21 | €475 | €155 | -€320 | -67.3% |
| Tangible fixed assets | 22/27 | €216,652 | €199,378 | -€17,274 | -8.0% |
| Land and buildings | 22 | €216,652 | €194,370 | -€22,282 | -10.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €5,008 | +€5,008 | |
| Leasing and similar rights | 25 | - | €0 | = | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €370,190 | €476,073 | +€105,883 | +28.6% |
| Amounts receivable after more than one year | 29 | €311,650 | €380,706 | +€69,056 | +22.2% |
| Other amounts receivable | 291 | €311,650 | €380,706 | +€69,056 | +22.2% |
| Amounts receivable within one year | 40/41 | €52,027 | €91,722 | +€39,695 | +76.3% |
| Trade receivables | 40 | €26,257 | €56,459 | +€30,202 | +115.0% |
| Other amounts receivable | 41 | €25,771 | €35,264 | +€9,493 | +36.8% |
| Cash at bank and in hand | 54/58 | €1,012 | €2,715 | +€1,703 | +168.2% |
| Deferred charges and accrued income | 490/1 | €5,501 | €929 | -€4,572 | -83.1% |
| Total equity and liabilities | 10/49 | €589,818 | €678,106 | +€88,289 | +15.0% |
| Equity | 10/15 | €228,983 | €318,419 | +€89,436 | +39.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,276 | €215,844 | +€84,568 | +64.4% |
| Non-distributable reserves | 130/1 | €131,276 | €131,276 | = | 0.0% |
| Reserves not available under the articles | 1311 | €131,276 | €131,276 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €24,568 | +€24,568 | |
| Distributable reserves | 133 | - | €60,000 | +€60,000 | |
| Profit (loss) carried forward | 14 | €79,107 | €83,975 | +€4,868 | +6.2% |
| Provisions and deferred taxes | 16 | - | €8,189 | +€8,189 | |
| Deferred taxes | 168 | - | €8,189 | +€8,189 | |
| Amounts payable | 17/49 | €360,835 | €351,498 | -€9,337 | -2.6% |
| Amounts payable after more than one year | 17 | €150,814 | €192,888 | +€42,074 | +27.9% |
| Financial debts | 170/4 | €150,814 | €192,888 | +€42,074 | +27.9% |
| Amounts payable within one year | 42/48 | €194,204 | €157,964 | -€36,240 | -18.7% |
| Current portion of amounts payable after more than one year | 42 | €22,401 | €19,503 | -€2,898 | -12.9% |
| Financial debts | 43 | €24,984 | €24,669 | -€315 | -1.3% |
| Credit institutions | 430/8 | €24,984 | €24,669 | -€315 | -1.3% |
| Trade debts | 44 | €34,230 | €29,017 | -€5,212 | -15.2% |
| Suppliers | 440/4 | €34,230 | €29,017 | -€5,212 | -15.2% |
| Advances received on contracts in progress | 46 | €6,897 | €0 | -€6,897 | -100.0% |
| Taxes, remuneration and social security | 45 | €79,291 | €52,099 | -€27,193 | -34.3% |
| Taxes | 450/3 | €57,673 | €46,370 | -€11,302 | -19.6% |
| Remuneration and social security | 454/9 | €21,619 | €5,729 | -€15,890 | -73.5% |
| Other amounts payable | 47/48 | €26,400 | €32,676 | +€6,276 | +23.8% |
| Accrued charges and deferred income | 492/3 | €15,817 | €646 | -€15,171 | -95.9% |
| Remuneration, social security and pensions | 62 | €63,385 | €72,268 | +€8,883 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,539 | €11,559 | -€2,980 | -20.5% |
| Other operating charges | 640/8 | €24,138 | €33,438 | +€9,300 | +38.5% |
| Gross operating margin | 9900 | €173,603 | €263,678 | +€90,076 | +51.9% |
| Operating profit (loss) | 9901 | €71,540 | €146,413 | +€74,873 | +104.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €9,618 | €18,555 | +€8,937 | +92.9% |
| Recurring financial charges | 65 | €9,618 | €18,555 | +€8,937 | +92.9% |
| Profit (loss) for the period before taxes | 9903 | €61,923 | €127,858 | +€65,936 | +106.5% |
| Transfer from deferred taxes | 780 | - | €591 | +€591 | |
| Transfer to deferred taxes | 680 | - | €8,780 | +€8,780 | |
| Income taxes | 67/77 | €22,507 | €29,400 | +€6,893 | +30.6% |
| Profit (loss) for the period | 9904 | €39,416 | €90,269 | +€50,853 | +129.0% |
| Transfer from tax-exempt reserves | 789 | - | €1,773 | +€1,773 | |
| Transfer to tax-exempt reserves | 689 | - | €26,341 | +€26,341 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,416 | €65,701 | +€26,285 | +66.7% |
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 3 October 2026 via checked.be.