DATA - STEEL: 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.
DATA - STEEL
Largest movements
- Cash -€45,348
down €45,348 (-54.9%), from €82,649 to €37,301
- Financial fixed assets +€23,086
up €23,086 (+16.4%), from €140,750 to €163,836
- Receivables within one year +€7,001
up €7,001 (+33.5%), from €20,888 to €27,889
of which Trade receivables: +€16,052
- Tangible fixed assets +€3,795
up €3,795, from €0 to €3,795
of which Furniture and vehicles: +€3,795
- Profit (loss) carried forward -€6,039
down €6,039 (-4.1%), from €147,505 to €141,466
- Financial income +€13,639
up €13,639 (+285.7%), from €4,773 to €18,413
- Gross operating margin -€13,022
down €13,022 (-50.8%), from €25,632 to €12,610
- Turnover -€5,586
down €5,586 (-6.2%), from €89,775 to €84,189
- Purchases and services -€5,373
down €5,373 (-6.4%), from €83,571 to €78,198
- Financial charges -€1,801
down €1,801 (-69.6%), from €2,587 to €785
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €244,287 | €234,696 | -€9,591 | -3.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €140,750 | €167,632 | +€26,882 | +19.1% |
| Tangible fixed assets | 22/27 | €0 | €3,795 | +€3,795 | |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €3,795 | +€3,795 | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €140,750 | €163,836 | +€23,086 | +16.4% |
| Current assets | 29/58 | €103,537 | €67,065 | -€36,473 | -35.2% |
| Amounts receivable within one year | 40/41 | €20,888 | €27,889 | +€7,001 | +33.5% |
| Trade receivables | 40 | €10,581 | €26,634 | +€16,052 | +151.7% |
| Other amounts receivable | 41 | €10,307 | €1,255 | -€9,052 | -87.8% |
| Cash at bank and in hand | 54/58 | €82,649 | €37,301 | -€45,348 | -54.9% |
| Deferred charges and accrued income | 490/1 | - | €1,875 | +€1,875 | |
| Total equity and liabilities | 10/49 | €244,287 | €234,696 | -€9,591 | -3.9% |
| Equity | 10/15 | €212,506 | €206,467 | -€6,039 | -2.8% |
| Contributions | 10/11 | €65,001 | €65,001 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €147,505 | €141,466 | -€6,039 | -4.1% |
| Amounts payable | 17/49 | €31,781 | €28,229 | -€3,552 | -11.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €31,781 | €28,229 | -€3,552 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €15,631 | €14,279 | -€1,352 | -8.6% |
| Taxes | 450/3 | €15,631 | €14,279 | -€1,352 | -8.6% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €16,150 | €13,950 | -€2,200 | -13.6% |
| Turnover | 70 | €89,775 | €84,189 | -€5,586 | -6.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €83,571 | €78,198 | -€5,373 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €281 | +€281 | |
| Other operating charges | 640/8 | €220 | €440 | +€220 | +100.0% |
| Gross operating margin | 9900 | €25,632 | €12,610 | -€13,022 | -50.8% |
| Operating profit (loss) | 9901 | €25,412 | €11,888 | -€13,524 | -53.2% |
| Financial income | 75/76B | €4,773 | €18,413 | +€13,639 | +285.7% |
| Recurring financial income | 75 | €4,773 | €18,413 | +€13,639 | +285.7% |
| Financial charges | 65/66B | €2,587 | €785 | -€1,801 | -69.6% |
| Recurring financial charges | 65 | €2,587 | €785 | -€1,801 | -69.6% |
| Profit (loss) for the period before taxes | 9903 | €27,599 | €29,516 | +€1,917 | +6.9% |
| Income taxes | 67/77 | €9,583 | €8,907 | -€676 | -7.1% |
| Profit (loss) for the period | 9904 | €18,015 | €20,609 | +€2,594 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,015 | €20,609 | +€2,594 | +14.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 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.