Agentschap M. Stevens: 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.
Agentschap M. Stevens
Largest movements
- Cash -€76,370
down €76,370 (-53.7%), from €142,265 to €65,895
mainly Contributions, distributions and other (-€160,000) and Current investments (-€29,769)
- Current investments +€29,769
new in 2025: €29,769
- Receivables within one year +€16,075
up €16,075 (+285%), from €5,633 to €21,708
of which Trade receivables: +€9,954
- Tangible fixed assets -€10,276
down €10,276 (-16.2%), from €63,260 to €52,984
of which Furniture and vehicles: -€6,340
- Other debts -€23,504
down €23,504 (-34.0%), from €69,078 to €45,574
- Reserves -€16,408
down €16,408 (-9.9%), from €165,846 to €149,438
of which Distributable reserves: -€16,408
- Tax, wage and social debts -€6,182
down €6,182 (-20.8%), from €29,757 to €23,575
of which Remuneration and social security: -€6,182
- Short-term financial debts +€5,000
up €5,000 (+49.4%), from €10,124 to €15,124
- Gross operating margin -€37,476
down €37,476 (-7.5%), from €496,810 to €459,334
- Other operating charges -€16,277
down €16,277 (-93.0%), from €17,505 to €1,228
- Taxes -€6,121
down €6,121 (-11.3%), from €54,367 to €48,246
- Staff costs +€5,622
up €5,622 (+2.3%), from €246,109 to €251,731
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 | €298,935 | €255,384 | -€43,551 | -14.6% |
| Fixed assets | 21/28 | €64,603 | €53,678 | -€10,925 | -16.9% |
| Intangible fixed assets | 21 | €1,343 | €695 | -€649 | -48.3% |
| Tangible fixed assets | 22/27 | €63,260 | €52,984 | -€10,276 | -16.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €33,268 | €26,928 | -€6,340 | -19.1% |
| Other tangible fixed assets | 26 | €29,992 | €26,055 | -€3,937 | -13.1% |
| Current assets | 29/58 | €234,332 | €201,705 | -€32,627 | -13.9% |
| Amounts receivable within one year | 40/41 | €5,633 | €21,708 | +€16,075 | +285% |
| Trade receivables | 40 | - | €9,954 | +€9,954 | |
| Other amounts receivable | 41 | €5,633 | €11,754 | +€6,121 | +109% |
| Current investments | 50/53 | - | €29,769 | +€29,769 | |
| Cash at bank and in hand | 54/58 | €142,265 | €65,895 | -€76,370 | -53.7% |
| Deferred charges and accrued income | 490/1 | €86,434 | €84,334 | -€2,100 | -2.4% |
| Total equity and liabilities | 10/49 | €298,935 | €255,384 | -€43,551 | -14.6% |
| Equity | 10/15 | €184,438 | €168,030 | -€16,408 | -8.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €165,846 | €149,438 | -€16,408 | -9.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €163,987 | €147,579 | -€16,408 | -10.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €114,497 | €87,353 | -€27,144 | -23.7% |
| Amounts payable within one year | 42/48 | €114,497 | €87,353 | -€27,144 | -23.7% |
| Financial debts | 43 | €10,124 | €15,124 | +€5,000 | +49.4% |
| Credit institutions | 430/8 | €10,124 | €15,124 | +€5,000 | +49.4% |
| Trade debts | 44 | €5,538 | €3,080 | -€2,458 | -44.4% |
| Suppliers | 440/4 | €5,538 | €3,080 | -€2,458 | -44.4% |
| Taxes, remuneration and social security | 45 | €29,757 | €23,575 | -€6,182 | -20.8% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €29,757 | €23,575 | -€6,182 | -20.8% |
| Other amounts payable | 47/48 | €69,078 | €45,574 | -€23,504 | -34.0% |
| Remuneration, social security and pensions | 62 | €246,109 | €251,731 | +€5,622 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,102 | €13,194 | -€909 | -6.4% |
| Other operating charges | 640/8 | €17,505 | €1,228 | -€16,277 | -93.0% |
| Gross operating margin | 9900 | €496,810 | €459,334 | -€37,476 | -7.5% |
| Operating profit (loss) | 9901 | €219,094 | €193,181 | -€25,912 | -11.8% |
| Financial income | 75/76B | €417 | €178 | -€239 | -57.3% |
| Recurring financial income | 75 | €417 | €178 | -€239 | -57.3% |
| Financial charges | 65/66B | €1,157 | €1,521 | +€364 | +31.5% |
| Recurring financial charges | 65 | €1,157 | €1,521 | +€364 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €218,354 | €191,838 | -€26,515 | -12.1% |
| Income taxes | 67/77 | €54,367 | €48,246 | -€6,121 | -11.3% |
| Profit (loss) for the period | 9904 | €163,986 | €143,592 | -€20,394 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €163,986 | €143,592 | -€20,394 | -12.4% |
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 26 October 2026 via checked.be.