STOLZ: 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.
STOLZ
Largest movements
- Tangible fixed assets +€444,597
up €444,597 (+19.1%), from €2.3m to €2.8m
of which Land and buildings: +€456,357
- Cash -€304,250
down €304,250 (-35.0%), from €869,171 to €564,922
mainly Investment in fixed assets (net) (-€614,258) and Other debts (-€231,000)
- Stocks and contracts -€233,534
down €233,534 (-11.1%), from €2.1m to €1.9m
- Other debts -€231,000
down €231,000 (-73.3%), from €315,000 to €84,000
- Trade debts +€185,373
up €185,373 (+34.7%), from €534,368 to €719,741
- Debts after one year -€90,133
down €90,133 (-18.2%), from €495,837 to €405,704
- Gross operating margin -€230,830
down €230,830 (-14.4%), from €1.6m to €1.4m
- Other operating charges +€97,777
up €97,777 (+553%), from €17,694 to €115,471
- Staff costs +€49,757
up €49,757 (+5.4%), from €917,383 to €967,140
- Taxes -€42,769
down €42,769 (-80.5%), from €53,135 to €10,366
- Depreciation +€25,750
up €25,750 (+18.4%), from €139,686 to €165,436
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 | €6,475,067 | €6,344,724 | -€130,343 | -2.0% |
| Fixed assets | 21/28 | €2,367,059 | €2,815,881 | +€448,822 | +19.0% |
| Intangible fixed assets | 21 | €36,008 | €40,233 | +€4,225 | +11.7% |
| Tangible fixed assets | 22/27 | €2,330,780 | €2,775,377 | +€444,597 | +19.1% |
| Land and buildings | 22 | €2,300,637 | €2,756,994 | +€456,357 | +19.8% |
| Plant, machinery and equipment | 23 | €14,396 | €6,256 | -€8,140 | -56.5% |
| Furniture and vehicles | 24 | €15,747 | €12,127 | -€3,620 | -23.0% |
| Financial fixed assets | 28 | €271 | €271 | = | 0.0% |
| Current assets | 29/58 | €4,108,008 | €3,528,843 | -€579,165 | -14.1% |
| Stocks and contracts in progress | 3 | €2,098,150 | €1,864,617 | -€233,534 | -11.1% |
| Stocks | 30/36 | €2,098,150 | €1,864,617 | -€233,534 | -11.1% |
| Amounts receivable within one year | 40/41 | €1,086,842 | €1,044,615 | -€42,227 | -3.9% |
| Trade receivables | 40 | €876,487 | €922,341 | +€45,854 | +5.2% |
| Other amounts receivable | 41 | €210,355 | €122,274 | -€88,080 | -41.9% |
| Current investments | 50/53 | €24,945 | €24,945 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €869,171 | €564,922 | -€304,250 | -35.0% |
| Deferred charges and accrued income | 490/1 | €28,899 | €29,744 | +€845 | +2.9% |
| Total equity and liabilities | 10/49 | €6,475,067 | €6,344,724 | -€130,343 | -2.0% |
| Equity | 10/15 | €4,917,423 | €4,928,110 | +€10,687 | +0.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €4,832,626 | €4,850,126 | +€17,500 | +0.4% |
| Tax-exempt reserves | 132 | €126 | €126 | = | 0.0% |
| Distributable reserves | 133 | €4,832,500 | €4,850,000 | +€17,500 | +0.4% |
| Profit (loss) carried forward | 14 | €9,796 | €2,983 | -€6,813 | -69.5% |
| Amounts payable | 17/49 | €1,557,644 | €1,416,614 | -€141,030 | -9.1% |
| Amounts payable after more than one year | 17 | €495,837 | €405,704 | -€90,133 | -18.2% |
| Financial debts | 170/4 | €495,837 | €405,704 | -€90,133 | -18.2% |
| Amounts payable within one year | 42/48 | €1,057,170 | €1,006,273 | -€50,897 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €86,776 | €90,133 | +€3,357 | +3.9% |
| Trade debts | 44 | €534,368 | €719,741 | +€185,373 | +34.7% |
| Suppliers | 440/4 | €534,368 | €719,741 | +€185,373 | +34.7% |
| Taxes, remuneration and social security | 45 | €121,027 | €112,400 | -€8,627 | -7.1% |
| Taxes | 450/3 | - | €3,698 | +€3,698 | |
| Remuneration and social security | 454/9 | €121,027 | €108,701 | -€12,325 | -10.2% |
| Other amounts payable | 47/48 | €315,000 | €84,000 | -€231,000 | -73.3% |
| Accrued charges and deferred income | 492/3 | €4,638 | €4,638 | -€0 | 0.0% |
| Non-recurring operating income | 76A | €27,398 | €11,927 | -€15,472 | -56.5% |
| Remuneration, social security and pensions | 62 | €917,383 | €967,140 | +€49,757 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,686 | €165,436 | +€25,750 | +18.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,390 | - | -€2,390 | |
| Other operating charges | 640/8 | €17,694 | €115,471 | +€97,777 | +553% |
| Gross operating margin | 9900 | €1,606,202 | €1,375,372 | -€230,830 | -14.4% |
| Operating profit (loss) | 9901 | €529,050 | €127,326 | -€401,724 | -75.9% |
| Financial income | 75/76B | €22,240 | €15,629 | -€6,610 | -29.7% |
| Recurring financial income | 75 | €22,240 | €15,629 | -€6,610 | -29.7% |
| Financial charges | 65/66B | €38,657 | €37,902 | -€755 | -2.0% |
| Recurring financial charges | 65 | €38,402 | €37,844 | -€558 | -1.5% |
| Non-recurring financial charges | 66B | €254 | €58 | -€196 | -77.2% |
| Profit (loss) for the period before taxes | 9903 | €512,633 | €105,053 | -€407,580 | -79.5% |
| Income taxes | 67/77 | €53,135 | €10,366 | -€42,769 | -80.5% |
| Profit (loss) for the period | 9904 | €459,498 | €94,687 | -€364,811 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €459,498 | €94,687 | -€364,811 | -79.4% |
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 15 October 2026 via checked.be.