DECEUNINCK STEPHAN: 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.
DECEUNINCK STEPHAN
Largest movements
- Receivables within one year -€56,505
down €56,505 (-24.0%), from €235,272 to €178,767
of which Trade receivables: -€63,111
- Cash -€44,633
down €44,633 (-65.1%), from €68,582 to €23,950
mainly Debts after one year (-€38,421) and Tax, wage and social debts (-€29,707)
- Financial fixed assets +€17,373
up €17,373 (+8,820%), from €197 to €17,570
- Debts after one year -€38,421
down €38,421 (-94.7%), from €40,590 to €2,168
- Tax, wage and social debts -€29,707
down €29,707 (-81.0%), from €36,685 to €6,979
of which Taxes: -€29,675
- Reserves +€29,104
up €29,104 (+7.5%), from €386,266 to €415,370
of which Distributable reserves: +€29,104
- Trade debts -€27,188
down €27,188 (-27.2%), from €99,887 to €72,699
- Short-term financial debts -€25,000
down €25,000 (-27.8%), from €90,000 to €65,000
- Gross operating margin -€127,864
down €127,864 (-45.6%), from €280,483 to €152,619
- Staff costs -€49,805
down €49,805 (-40.5%), from €123,019 to €73,214
- Taxes -€23,894
down €23,894 (-66.5%), from €35,911 to €12,017
- Write-downs +€8,180
new in 2025: €8,180
- Other operating charges +€6,217
up €6,217 (+61.3%), from €10,144 to €16,360
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 | €748,676 | €654,231 | -€94,444 | -12.6% |
| Fixed assets | 21/28 | €413,732 | €426,687 | +€12,955 | +3.1% |
| Tangible fixed assets | 22/27 | €413,535 | €409,116 | -€4,419 | -1.1% |
| Land and buildings | 22 | €409,542 | €403,885 | -€5,657 | -1.4% |
| Plant, machinery and equipment | 23 | €1,901 | €2,931 | +€1,030 | +54.2% |
| Furniture and vehicles | 24 | €2,092 | €2,301 | +€209 | +10.0% |
| Financial fixed assets | 28 | €197 | €17,570 | +€17,373 | +8,820% |
| Current assets | 29/58 | €334,943 | €227,544 | -€107,399 | -32.1% |
| Stocks and contracts in progress | 3 | €10,732 | €7,923 | -€2,809 | -26.2% |
| Stocks | 30/36 | €10,732 | €7,923 | -€2,809 | -26.2% |
| Amounts receivable within one year | 40/41 | €235,272 | €178,767 | -€56,505 | -24.0% |
| Trade receivables | 40 | €226,537 | €163,425 | -€63,111 | -27.9% |
| Other amounts receivable | 41 | €8,735 | €15,342 | +€6,607 | +75.6% |
| Cash at bank and in hand | 54/58 | €68,582 | €23,950 | -€44,633 | -65.1% |
| Deferred charges and accrued income | 490/1 | €20,357 | €16,904 | -€3,453 | -17.0% |
| Total equity and liabilities | 10/49 | €748,676 | €654,231 | -€94,444 | -12.6% |
| Equity | 10/15 | €436,266 | €465,370 | +€29,104 | +6.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €386,266 | €415,370 | +€29,104 | +7.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €386,266 | €415,370 | +€29,104 | +7.5% |
| Amounts payable | 17/49 | €312,410 | €188,861 | -€123,549 | -39.5% |
| Amounts payable after more than one year | 17 | €40,590 | €2,168 | -€38,421 | -94.7% |
| Financial debts | 170/4 | €40,590 | €2,168 | -€38,421 | -94.7% |
| Amounts payable within one year | 42/48 | €268,170 | €183,099 | -€85,071 | -31.7% |
| Current portion of amounts payable after more than one year | 42 | €41,598 | €38,421 | -€3,176 | -7.6% |
| Financial debts | 43 | €90,000 | €65,000 | -€25,000 | -27.8% |
| Credit institutions | 430/8 | €90,000 | €65,000 | -€25,000 | -27.8% |
| Trade debts | 44 | €99,887 | €72,699 | -€27,188 | -27.2% |
| Suppliers | 440/4 | €99,887 | €72,699 | -€27,188 | -27.2% |
| Taxes, remuneration and social security | 45 | €36,685 | €6,979 | -€29,707 | -81.0% |
| Taxes | 450/3 | €33,692 | €4,017 | -€29,675 | -88.1% |
| Remuneration and social security | 454/9 | €2,994 | €2,962 | -€32 | -1.1% |
| Accrued charges and deferred income | 492/3 | €3,650 | €3,594 | -€56 | -1.5% |
| Non-recurring operating income | 76A | €16,529 | €0 | -€16,529 | -100% |
| Remuneration, social security and pensions | 62 | €123,019 | €73,214 | -€49,805 | -40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,143 | €7,703 | +€561 | +7.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,180 | +€8,180 | |
| Other operating charges | 640/8 | €10,144 | €16,360 | +€6,217 | +61.3% |
| Gross operating margin | 9900 | €280,483 | €152,619 | -€127,864 | -45.6% |
| Operating profit (loss) | 9901 | €140,177 | €47,161 | -€93,016 | -66.4% |
| Financial income | 75/76B | €195 | €342 | +€147 | +75.6% |
| Recurring financial income | 75 | €195 | €342 | +€147 | +75.6% |
| Financial charges | 65/66B | €7,033 | €6,381 | -€652 | -9.3% |
| Recurring financial charges | 65 | €7,033 | €6,381 | -€652 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €133,339 | €41,121 | -€92,218 | -69.2% |
| Income taxes | 67/77 | €35,911 | €12,017 | -€23,894 | -66.5% |
| Profit (loss) for the period | 9904 | €97,428 | €29,104 | -€68,324 | -70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €97,428 | €29,104 | -€68,324 | -70.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.