DE SCHEPPER STEFAAN: 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.
DE SCHEPPER STEFAAN
Largest movements
- Cash +€182,988
up €182,988 (+631%), from €29,019 to €212,007
mainly Net result for the year (+€404,091) and Depreciation (+€228,023)
- Tangible fixed assets -€122,946
down €122,946 (-5.7%), from €2.2m to €2.0m
of which Land and buildings: -€80,322
- Receivables within one year +€117,592
up €117,592 (+22.4%), from €524,073 to €641,665
of which Trade receivables: +€117,592
- Reserves +€404,091
up €404,091 (+27.1%), from €1.5m to €1.9m
of which Distributable reserves: +€404,091
- Other debts -€236,831
down €236,831 (-66.5%), from €356,132 to €119,301
- Short-term financial debts -€200,000
down €200,000 (-40.0%), from €500,000 to €300,000
- Current portion of long-term debt +€175,128
up €175,128 (+76.1%), from €230,168 to €405,296
- Debts after one year +€76,848
up €76,848 (+7.5%), from €1.0m to €1.1m
- Gross operating margin +€79,218
up €79,218 (+6.8%), from €1.2m to €1.3m
- Staff costs +€36,120
up €36,120 (+10.5%), from €343,387 to €379,508
- Depreciation +€33,100
up €33,100 (+17.0%), from €194,923 to €228,023
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 | €3,909,892 | €4,055,356 | +€145,465 | +3.7% |
| Fixed assets | 21/28 | €2,155,492 | €2,032,546 | -€122,946 | -5.7% |
| Tangible fixed assets | 22/27 | €2,155,442 | €2,032,496 | -€122,946 | -5.7% |
| Land and buildings | 22 | €1,686,627 | €1,606,305 | -€80,322 | -4.8% |
| Plant, machinery and equipment | 23 | €176,760 | €130,449 | -€46,312 | -26.2% |
| Furniture and vehicles | 24 | €292,055 | €295,742 | +€3,687 | +1.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,754,400 | €2,022,811 | +€268,411 | +15.3% |
| Stocks and contracts in progress | 3 | €1,201,307 | €1,169,139 | -€32,169 | -2.7% |
| Stocks | 30/36 | €1,201,307 | €1,169,139 | -€32,169 | -2.7% |
| Amounts receivable within one year | 40/41 | €524,073 | €641,665 | +€117,592 | +22.4% |
| Trade receivables | 40 | €524,073 | €641,665 | +€117,592 | +22.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €29,019 | €212,007 | +€182,988 | +631% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,909,892 | €4,055,356 | +€145,465 | +3.7% |
| Equity | 10/15 | €1,509,529 | €1,913,620 | +€404,091 | +26.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,490,937 | €1,895,028 | +€404,091 | +27.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,500 | €14,500 | = | 0.0% |
| Distributable reserves | 133 | €1,474,578 | €1,878,669 | +€404,091 | +27.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,400,363 | €2,141,736 | -€258,626 | -10.8% |
| Amounts payable after more than one year | 17 | €1,022,192 | €1,099,041 | +€76,848 | +7.5% |
| Financial debts | 170/4 | €1,022,192 | €1,099,041 | +€76,848 | +7.5% |
| Amounts payable within one year | 42/48 | €1,378,170 | €1,042,696 | -€335,474 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €230,168 | €405,296 | +€175,128 | +76.1% |
| Financial debts | 43 | €500,000 | €300,000 | -€200,000 | -40.0% |
| Credit institutions | 430/8 | €500,000 | €300,000 | -€200,000 | -40.0% |
| Trade debts | 44 | €138,311 | €105,525 | -€32,785 | -23.7% |
| Suppliers | 440/4 | €138,311 | €105,525 | -€32,785 | -23.7% |
| Taxes, remuneration and social security | 45 | €153,560 | €112,573 | -€40,986 | -26.7% |
| Taxes | 450/3 | €126,283 | €73,792 | -€52,492 | -41.6% |
| Remuneration and social security | 454/9 | €27,276 | €38,782 | +€11,506 | +42.2% |
| Other amounts payable | 47/48 | €356,132 | €119,301 | -€236,831 | -66.5% |
| Remuneration, social security and pensions | 62 | €343,387 | €379,508 | +€36,120 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194,923 | €228,023 | +€33,100 | +17.0% |
| Other operating charges | 640/8 | €26,440 | €32,167 | +€5,728 | +21.7% |
| Gross operating margin | 9900 | €1,171,342 | €1,250,560 | +€79,218 | +6.8% |
| Operating profit (loss) | 9901 | €606,592 | €610,862 | +€4,270 | +0.7% |
| Financial income | 75/76B | €28,093 | €36,101 | +€8,007 | +28.5% |
| Recurring financial income | 75 | €28,093 | €36,101 | +€8,007 | +28.5% |
| Financial charges | 65/66B | €48,277 | €58,163 | +€9,885 | +20.5% |
| Recurring financial charges | 65 | €48,277 | €58,163 | +€9,885 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €586,408 | €588,800 | +€2,392 | +0.4% |
| Income taxes | 67/77 | €184,071 | €184,709 | +€638 | +0.3% |
| Profit (loss) for the period | 9904 | €402,337 | €404,091 | +€1,754 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €402,337 | €404,091 | +€1,754 | +0.4% |
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.