BIJ STEFANO: 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.
BIJ STEFANO
Largest movements
- Tangible fixed assets -€18,910
down €18,910 (-5.6%), from €336,397 to €317,487
of which Plant, machinery and equipment: -€12,715
- Cash +€11,768
up €11,768 (+19.4%), from €60,650 to €72,417
mainly Depreciation (+€40,278) and Other debts (+€31,270)
- Stocks and contracts -€5,227
down €5,227 (-15.6%), from €33,497 to €28,270
- Debts after one year -€39,371
down €39,371 (-17.0%), from €231,880 to €192,509
- Other debts +€31,270
up €31,270 (+81.6%), from €38,303 to €69,573
- Profit (loss) carried forward -€15,607
down €15,607 (-68.5%), from €22,772 to €7,165
- Trade debts +€5,949
up €5,949 (+39.7%), from €14,990 to €20,939
- Tax, wage and social debts +€5,591
up €5,591 (+32.9%), from €16,976 to €22,567
of which Remuneration and social security: +€3,303
- Gross operating margin -€5,549
down €5,549 (-2.3%), from €245,948 to €240,399
- Depreciation +€4,561
up €4,561 (+12.8%), from €35,716 to €40,278
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 | €433,172 | €422,294 | -€10,879 | -2.5% |
| Fixed assets | 21/28 | €336,397 | €317,487 | -€18,910 | -5.6% |
| Tangible fixed assets | 22/27 | €336,397 | €317,487 | -€18,910 | -5.6% |
| Land and buildings | 22 | €142,208 | €131,609 | -€10,599 | -7.5% |
| Plant, machinery and equipment | 23 | €174,189 | €161,474 | -€12,715 | -7.3% |
| Furniture and vehicles | 24 | €20,000 | €24,405 | +€4,405 | +22.0% |
| Current assets | 29/58 | €96,775 | €104,806 | +€8,031 | +8.3% |
| Stocks and contracts in progress | 3 | €33,497 | €28,270 | -€5,227 | -15.6% |
| Stocks | 30/36 | €33,497 | €28,270 | -€5,227 | -15.6% |
| Amounts receivable within one year | 40/41 | €2,508 | €3,996 | +€1,488 | +59.3% |
| Trade receivables | 40 | €10 | €0 | -€10 | -100% |
| Other amounts receivable | 41 | €2,498 | €3,996 | +€1,498 | +60.0% |
| Cash at bank and in hand | 54/58 | €60,650 | €72,417 | +€11,768 | +19.4% |
| Deferred charges and accrued income | 490/1 | €121 | €123 | +€2 | +2.0% |
| Total equity and liabilities | 10/49 | €433,172 | €422,294 | -€10,879 | -2.5% |
| Equity | 10/15 | €88,772 | €73,165 | -€15,607 | -17.6% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,772 | €7,165 | -€15,607 | -68.5% |
| Amounts payable | 17/49 | €344,400 | €349,129 | +€4,729 | +1.4% |
| Amounts payable after more than one year | 17 | €231,880 | €192,509 | -€39,371 | -17.0% |
| Financial debts | 170/4 | €231,880 | €192,509 | -€39,371 | -17.0% |
| Amounts payable within one year | 42/48 | €112,520 | €156,620 | +€44,100 | +39.2% |
| Current portion of amounts payable after more than one year | 42 | €38,039 | €39,371 | +€1,333 | +3.5% |
| Financial debts | 43 | €4,212 | €4,170 | -€42 | -1.0% |
| Credit institutions | 430/8 | €4,212 | €4,090 | -€122 | -2.9% |
| Other loans | 439 | - | €80 | +€80 | |
| Trade debts | 44 | €14,990 | €20,939 | +€5,949 | +39.7% |
| Suppliers | 440/4 | €14,990 | €20,939 | +€5,949 | +39.7% |
| Taxes, remuneration and social security | 45 | €16,976 | €22,567 | +€5,591 | +32.9% |
| Taxes | 450/3 | €981 | €3,269 | +€2,288 | +233% |
| Remuneration and social security | 454/9 | €15,995 | €19,298 | +€3,303 | +20.7% |
| Other amounts payable | 47/48 | €38,303 | €69,573 | +€31,270 | +81.6% |
| Remuneration, social security and pensions | 62 | €161,395 | €162,007 | +€612 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,716 | €40,278 | +€4,561 | +12.8% |
| Other operating charges | 640/8 | €4,000 | €4,050 | +€50 | +1.2% |
| Gross operating margin | 9900 | €245,948 | €240,399 | -€5,549 | -2.3% |
| Operating profit (loss) | 9901 | €44,837 | €34,065 | -€10,772 | -24.0% |
| Financial income | 75/76B | €133 | €87 | -€46 | -34.8% |
| Recurring financial income | 75 | €133 | €87 | -€46 | -34.8% |
| Financial charges | 65/66B | €10,970 | €10,784 | -€186 | -1.7% |
| Recurring financial charges | 65 | €10,970 | €10,784 | -€186 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €34,000 | €23,368 | -€10,633 | -31.3% |
| Income taxes | 67/77 | €11,375 | €8,975 | -€2,400 | -21.1% |
| Profit (loss) for the period | 9904 | €22,625 | €14,393 | -€8,233 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,625 | €14,393 | -€8,233 | -36.4% |
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 20 October 2026 via checked.be.