DF STEELING: 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.
DF STEELING
Largest movements
- Cash -€17,220
down €17,220 (-27.2%), from €63,379 to €46,159
mainly Receivables within one year (-€7,407) and Other debts (-€7,280)
- Receivables within one year +€7,407
up €7,407 (+20.2%), from €36,736 to €44,143
of which Other amounts receivable: +€6,902
- Tangible fixed assets -€5,625
down €5,625 (-13.0%), from €43,318 to €37,693
of which Leasing and similar rights: -€5,893
- Profit (loss) carried forward +€8,098
up €8,098 (+10.8%), from €75,132 to €83,230
- Other debts -€7,280
down €7,280 (-81.7%), from €8,910 to €1,630
- Tax, wage and social debts -€6,621
down €6,621 (-49.9%), from €13,256 to €6,635
of which Taxes: -€6,621
- Debts after one year -€5,730
down €5,730 (-27.6%), from €20,756 to €15,026
- Trade debts -€2,530
down €2,530 (-12.2%), from €20,816 to €18,287
- Gross operating margin -€34,396
down €34,396 (-54.7%), from €62,883 to €28,487
- Taxes -€6,944
down €6,944 (-67.2%), from €10,339 to €3,396
- Depreciation +€1,953
up €1,953 (+20.5%), from €9,522 to €11,476
- Financial charges +€676
up €676 (+39.2%), from €1,726 to €2,403
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 | €148,026 | €134,288 | -€13,738 | -9.3% |
| Fixed assets | 21/28 | €43,318 | €37,693 | -€5,625 | -13.0% |
| Tangible fixed assets | 22/27 | €43,318 | €37,693 | -€5,625 | -13.0% |
| Plant, machinery and equipment | 23 | €12,562 | €9,627 | -€2,935 | -23.4% |
| Furniture and vehicles | 24 | €975 | €5,613 | +€4,638 | +476% |
| Leasing and similar rights | 25 | €25,992 | €20,100 | -€5,893 | -22.7% |
| Other tangible fixed assets | 26 | €3,788 | €2,353 | -€1,435 | -37.9% |
| Current assets | 29/58 | €104,708 | €96,595 | -€8,113 | -7.7% |
| Stocks and contracts in progress | 3 | €750 | €1,005 | +€255 | +34.0% |
| Stocks | 30/36 | €750 | €1,005 | +€255 | +34.0% |
| Amounts receivable within one year | 40/41 | €36,736 | €44,143 | +€7,407 | +20.2% |
| Trade receivables | 40 | €36,571 | €37,076 | +€505 | +1.4% |
| Other amounts receivable | 41 | €164 | €7,066 | +€6,902 | +4,203% |
| Cash at bank and in hand | 54/58 | €63,379 | €46,159 | -€17,220 | -27.2% |
| Deferred charges and accrued income | 490/1 | €3,844 | €5,289 | +€1,445 | +37.6% |
| Total equity and liabilities | 10/49 | €148,026 | €134,288 | -€13,738 | -9.3% |
| Equity | 10/15 | €77,632 | €85,730 | +€8,098 | +10.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,132 | €83,230 | +€8,098 | +10.8% |
| Amounts payable | 17/49 | €70,394 | €48,558 | -€21,836 | -31.0% |
| Amounts payable after more than one year | 17 | €20,756 | €15,026 | -€5,730 | -27.6% |
| Financial debts | 170/4 | €20,756 | €15,026 | -€5,730 | -27.6% |
| Amounts payable within one year | 42/48 | €48,328 | €32,282 | -€16,046 | -33.2% |
| Current portion of amounts payable after more than one year | 42 | €5,345 | €5,730 | +€385 | +7.2% |
| Trade debts | 44 | €20,816 | €18,287 | -€2,530 | -12.2% |
| Suppliers | 440/4 | €20,816 | €18,287 | -€2,530 | -12.2% |
| Taxes, remuneration and social security | 45 | €13,256 | €6,635 | -€6,621 | -49.9% |
| Taxes | 450/3 | €13,256 | €6,635 | -€6,621 | -49.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,910 | €1,630 | -€7,280 | -81.7% |
| Accrued charges and deferred income | 492/3 | €1,310 | €1,250 | -€60 | -4.6% |
| Non-recurring operating income | 76A | - | €6,980 | +€6,980 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,522 | €11,476 | +€1,953 | +20.5% |
| Other operating charges | 640/8 | €1,360 | €1,516 | +€156 | +11.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €62,883 | €28,487 | -€34,396 | -54.7% |
| Operating profit (loss) | 9901 | €52,000 | €15,496 | -€36,505 | -70.2% |
| Financial income | 75/76B | €1 | €1 | -€1 | -60.0% |
| Recurring financial income | 75 | €1 | €1 | -€1 | -60.0% |
| Financial charges | 65/66B | €1,726 | €2,403 | +€676 | +39.2% |
| Recurring financial charges | 65 | €1,726 | €2,403 | +€676 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €50,276 | €13,093 | -€37,182 | -74.0% |
| Income taxes | 67/77 | €10,339 | €3,396 | -€6,944 | -67.2% |
| Profit (loss) for the period | 9904 | €39,936 | €9,698 | -€30,238 | -75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,936 | €9,698 | -€30,238 | -75.7% |
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 27 October 2026 via checked.be.