DI STEFANO: 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.
DI STEFANO
Largest movements
- Cash -€51,712
down €51,712 (-87.4%), from €59,170 to €7,457
mainly Investment in fixed assets (net) (-€63,890) and Net result for the year (-€52,696)
- Tangible fixed assets +€29,452
up €29,452 (+6.0%), from €489,803 to €519,255
- Receivables after one year +€10,715
up €10,715 (+58.0%), from €18,462 to €29,177
- Deferred charges and accrued income +€7,166
up €7,166 (+431%), from €1,663 to €8,829
- Debts after one year +€70,457
up €70,457 (+14.2%), from €495,089 to €565,546
- Profit (loss) carried forward -€52,696
down €52,696 (-81.3%), from -€64,783 to -€117,480
- Trade debts -€24,646
down €24,646 (-74.0%), from €33,325 to €8,679
- Other operating charges +€25,223
up €25,223 (+161%), from €15,703 to €40,927
- Gross operating margin +€25,107
up €25,107 (+160%), from €15,697 to €40,804
- Depreciation +€7,864
up €7,864 (+32.0%), from €24,573 to €32,437
- Financial charges -€2,445
down €2,445 (-10.5%), from €23,301 to €20,855
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 | €569,097 | €566,718 | -€2,379 | -0.4% |
| Fixed assets | 21/28 | €489,803 | €521,255 | +€31,452 | +6.4% |
| Tangible fixed assets | 22/27 | €489,803 | €519,255 | +€29,452 | +6.0% |
| Land and buildings | 22 | €489,803 | €519,255 | +€29,452 | +6.0% |
| Financial fixed assets | 28 | - | €2,000 | +€2,000 | |
| Current assets | 29/58 | €79,294 | €45,463 | -€33,832 | -42.7% |
| Amounts receivable after more than one year | 29 | €18,462 | €29,177 | +€10,715 | +58.0% |
| Other amounts receivable | 291 | €18,462 | €29,177 | +€10,715 | +58.0% |
| Cash at bank and in hand | 54/58 | €59,170 | €7,457 | -€51,712 | -87.4% |
| Deferred charges and accrued income | 490/1 | €1,663 | €8,829 | +€7,166 | +431% |
| Total equity and liabilities | 10/49 | €569,097 | €566,718 | -€2,379 | -0.4% |
| Equity | 10/15 | €14,517 | -€38,180 | -€52,696 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €17,300 | €17,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €11,100 | €11,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,783 | -€117,480 | -€52,696 | -81.3% |
| Amounts payable | 17/49 | €554,581 | €604,898 | +€50,317 | +9.1% |
| Amounts payable after more than one year | 17 | €495,089 | €565,546 | +€70,457 | +14.2% |
| Other amounts payable | 178/9 | €495,089 | €565,546 | +€70,457 | +14.2% |
| Amounts payable within one year | 42/48 | €52,808 | €31,551 | -€21,258 | -40.3% |
| Trade debts | 44 | €33,325 | €8,679 | -€24,646 | -74.0% |
| Suppliers | 440/4 | €33,325 | €8,679 | -€24,646 | -74.0% |
| Other amounts payable | 47/48 | €19,483 | €22,872 | +€3,389 | +17.4% |
| Accrued charges and deferred income | 492/3 | €6,683 | €7,801 | +€1,117 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,573 | €32,437 | +€7,864 | +32.0% |
| Other operating charges | 640/8 | €15,703 | €40,927 | +€25,223 | +161% |
| Gross operating margin | 9900 | €15,697 | €40,804 | +€25,107 | +160% |
| Operating profit (loss) | 9901 | -€24,579 | -€32,560 | -€7,980 | -32.5% |
| Financial income | 75/76B | €862 | €720 | -€141 | -16.4% |
| Recurring financial income | 75 | €862 | €720 | -€141 | -16.4% |
| Financial charges | 65/66B | €23,301 | €20,855 | -€2,445 | -10.5% |
| Recurring financial charges | 65 | €23,301 | €20,855 | -€2,445 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€47,018 | -€52,695 | -€5,676 | -12.1% |
| Income taxes | 67/77 | - | €2 | +€2 | |
| Profit (loss) for the period | 9904 | -€47,018 | -€52,696 | -€5,678 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,018 | -€52,696 | -€5,678 | -12.1% |
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 27 October 2026 via checked.be.