DEVAN STEIGERBOUW: 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.
DEVAN STEIGERBOUW
Largest movements
- Tangible fixed assets -€99,655
down €99,655 (-11.9%), from €838,888 to €739,233
of which Plant, machinery and equipment: -€103,639
- Deferred charges and accrued income +€14,348
up €14,348 (+601.0%), from €2,387 to €16,735
- Receivables within one year -€13,868
down €13,868 (-5.2%), from €267,660 to €253,792
of which Trade receivables: -€13,170
- Debts after one year -€142,131
down €142,131 (-29.6%), from €480,778 to €338,647
- Other debts -€104,083
down €104,083 (-100.0%), from €104,083 to €0
- Short-term financial debts +€100,000
up €100,000 (+55.6%), from €180,000 to €280,000
- Trade debts +€39,547
up €39,547 (+59.5%), from €66,446 to €105,993
- Tax, wage and social debts -€25,973
down €25,973 (-18.6%), from €139,373 to €113,401
of which Remuneration and social security: -€15,105
- Gross operating margin -€64,307
down €64,307 (-7.0%), from €912,357 to €848,050
- Depreciation +€30,584
up €30,584 (+9.2%), from €330,771 to €361,354
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.
Cash bridge derived
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 | €1,297,824 | €1,204,147 | -€93,677 | -7.2% |
| Fixed assets | 21/28 | €839,283 | €739,503 | -€99,780 | -11.9% |
| Tangible fixed assets | 22/27 | €838,888 | €739,233 | -€99,655 | -11.9% |
| Plant, machinery and equipment | 23 | €454,824 | €351,184 | -€103,639 | -22.8% |
| Furniture and vehicles | 24 | €56,978 | €42,640 | -€14,339 | -25.2% |
| Leasing and similar rights | 25 | €327,087 | €345,410 | +€18,323 | +5.6% |
| Financial fixed assets | 28 | €395 | €270 | -€125 | -31.6% |
| Current assets | 29/58 | €458,541 | €464,643 | +€6,103 | +1.3% |
| Amounts receivable within one year | 40/41 | €267,660 | €253,792 | -€13,868 | -5.2% |
| Trade receivables | 40 | €266,772 | €253,602 | -€13,170 | -4.9% |
| Other amounts receivable | 41 | €887 | €190 | -€697 | -78.6% |
| Cash at bank and in hand | 54/58 | €188,494 | €194,116 | +€5,623 | +3.0% |
| Deferred charges and accrued income | 490/1 | €2,387 | €16,735 | +€14,348 | +601.0% |
| Total equity and liabilities | 10/49 | €1,297,824 | €1,204,147 | -€93,677 | -7.2% |
| Equity | 10/15 | €78,273 | €97,746 | +€19,473 | +24.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €58,273 | €77,746 | +€19,473 | +33.4% |
| Tax-exempt reserves | 132 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €52,273 | €71,746 | +€19,473 | +37.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,219,552 | €1,106,401 | -€113,150 | -9.3% |
| Amounts payable after more than one year | 17 | €480,778 | €338,647 | -€142,131 | -29.6% |
| Financial debts | 170/4 | €480,778 | €338,647 | -€142,131 | -29.6% |
| Amounts payable within one year | 42/48 | €738,273 | €766,969 | +€28,696 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €248,371 | €267,575 | +€19,204 | +7.7% |
| Financial debts | 43 | €180,000 | €280,000 | +€100,000 | +55.6% |
| Credit institutions | 430/8 | €180,000 | €280,000 | +€100,000 | +55.6% |
| Trade debts | 44 | €66,446 | €105,993 | +€39,547 | +59.5% |
| Suppliers | 440/4 | €66,446 | €105,993 | +€39,547 | +59.5% |
| Taxes, remuneration and social security | 45 | €139,373 | €113,401 | -€25,973 | -18.6% |
| Taxes | 450/3 | €112,769 | €101,902 | -€10,867 | -9.6% |
| Remuneration and social security | 454/9 | €26,604 | €11,498 | -€15,105 | -56.8% |
| Other amounts payable | 47/48 | €104,083 | €0 | -€104,083 | -100.0% |
| Accrued charges and deferred income | 492/3 | €501 | €785 | +€284 | +56.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €404,988 | €398,285 | -€6,703 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330,771 | €361,354 | +€30,584 | +9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €776 | €4,947 | +€4,171 | +537.4% |
| Other operating charges | 640/8 | €13,581 | €5,549 | -€8,032 | -59.1% |
| Gross operating margin | 9900 | €912,357 | €848,050 | -€64,307 | -7.0% |
| Operating profit (loss) | 9901 | €162,241 | €77,914 | -€84,327 | -52.0% |
| Financial income | 75/76B | €196 | €119 | -€77 | -39.3% |
| Recurring financial income | 75 | €196 | €119 | -€77 | -39.3% |
| Financial charges | 65/66B | €54,816 | €55,004 | +€188 | +0.3% |
| Recurring financial charges | 65 | €54,816 | €55,004 | +€188 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €107,621 | €23,029 | -€84,592 | -78.6% |
| Income taxes | 67/77 | - | €3,556 | +€3,556 | |
| Profit (loss) for the period | 9904 | €107,621 | €19,473 | -€88,147 | -81.9% |
| Transfer from tax-exempt reserves | 789 | €84,200 | €0 | -€84,200 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €191,821 | €19,473 | -€172,347 | -89.8% |
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 10 October 2026 via checked.be.