DE STER: 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 STER
Largest movements
- Cash -€267,042
down €267,042 (-83.9%), from €318,425 to €51,383
mainly Current investments (-€253,450) and Net result for the year (-€102,346)
- Current investments +€253,450
new in 2025: €253,450
- Tangible fixed assets -€90,603
down €90,603 (-8.5%), from €1.1m to €972,485
of which Land and buildings: -€74,829
- Receivables within one year +€22,740
up €22,740 (+46.8%), from €48,636 to €71,376
of which Trade receivables: +€24,895
- Profit (loss) carried forward -€102,346
down €102,346 (-21.6%), from -€473,379 to -€575,725
- Gross operating margin -€129,045
down €129,045 (-98.2%), from €131,398 to €2,353
- Staff costs -€11,759
down €11,759 (-56.9%), from €20,661 to €8,902
- Other operating charges -€1,887
down €1,887 (-37.7%), from €5,002 to €3,115
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 | €1,459,104 | €1,368,411 | -€90,693 | -6.2% |
| Fixed assets | 21/28 | €1,063,088 | €972,485 | -€90,603 | -8.5% |
| Tangible fixed assets | 22/27 | €1,063,088 | €972,485 | -€90,603 | -8.5% |
| Land and buildings | 22 | €973,994 | €899,166 | -€74,829 | -7.7% |
| Plant, machinery and equipment | 23 | €78,326 | €64,907 | -€13,420 | -17.1% |
| Furniture and vehicles | 24 | €10,767 | €8,413 | -€2,355 | -21.9% |
| Current assets | 29/58 | €396,016 | €395,926 | -€90 | 0.0% |
| Stocks and contracts in progress | 3 | €12,948 | €14,375 | +€1,427 | +11.0% |
| Stocks | 30/36 | €12,948 | €14,375 | +€1,427 | +11.0% |
| Amounts receivable within one year | 40/41 | €48,636 | €71,376 | +€22,740 | +46.8% |
| Trade receivables | 40 | €42,124 | €67,019 | +€24,895 | +59.1% |
| Other amounts receivable | 41 | €6,512 | €4,357 | -€2,155 | -33.1% |
| Current investments | 50/53 | - | €253,450 | +€253,450 | |
| Cash at bank and in hand | 54/58 | €318,425 | €51,383 | -€267,042 | -83.9% |
| Deferred charges and accrued income | 490/1 | €16,006 | €5,341 | -€10,665 | -66.6% |
| Total equity and liabilities | 10/49 | €1,459,104 | €1,368,411 | -€90,693 | -6.2% |
| Equity | 10/15 | -€73,379 | -€175,725 | -€102,346 | -139% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€473,379 | -€575,725 | -€102,346 | -21.6% |
| Amounts payable | 17/49 | €1,532,483 | €1,544,136 | +€11,653 | +0.8% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,482,483 | €1,494,136 | +€11,653 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €30 | €1,055 | +€1,025 | +3,419% |
| Credit institutions | 430/8 | €30 | €1,055 | +€1,025 | +3,419% |
| Trade debts | 44 | €12,979 | €22,854 | +€9,875 | +76.1% |
| Suppliers | 440/4 | €12,979 | €22,854 | +€9,875 | +76.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €6,271 | €5,178 | -€1,093 | -17.4% |
| Taxes | 450/3 | €0 | €320 | +€320 | |
| Remuneration and social security | 454/9 | €6,271 | €4,858 | -€1,413 | -22.5% |
| Other amounts payable | 47/48 | €1,463,203 | €1,465,048 | +€1,845 | +0.1% |
| Remuneration, social security and pensions | 62 | €20,661 | €8,902 | -€11,759 | -56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,290 | €95,343 | +€53 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,002 | €3,115 | -€1,887 | -37.7% |
| Gross operating margin | 9900 | €131,398 | €2,353 | -€129,045 | -98.2% |
| Operating profit (loss) | 9901 | €10,445 | -€105,007 | -€115,452 | |
| Financial income | 75/76B | €2,113 | €3,208 | +€1,095 | +51.8% |
| Recurring financial income | 75 | €2,113 | €3,208 | +€1,095 | +51.8% |
| Financial charges | 65/66B | €1,029 | €548 | -€481 | -46.8% |
| Recurring financial charges | 65 | €1,029 | €548 | -€481 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €11,530 | -€102,346 | -€113,876 | |
| Profit (loss) for the period | 9904 | €11,530 | -€102,346 | -€113,876 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,530 | -€102,346 | -€113,876 |
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 18 October 2026 via checked.be.