DR. STEYLEMANS AN: 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.
DR. STEYLEMANS AN
Largest movements
- Cash -€66,934
down €66,934 (-7.4%), from €900,495 to €833,561
mainly Debts after one year (-€37,998) and Other debts (-€37,932)
- Tangible fixed assets -€47,130
down €47,130 (-5.9%), from €800,590 to €753,460
of which Land and buildings: -€25,810
- Receivables within one year +€22,054
up €22,054 (+7.2%), from €306,829 to €328,883
of which Trade receivables: +€45,417
- Debts after one year -€37,998
down €37,998 (-9.4%), from €405,342 to €367,344
- Other debts -€37,932
down €37,932 (-31.5%), from €120,464 to €82,531
- Gross operating margin -€228,054
down €228,054 (-67.8%), from €336,294 to €108,241
- Taxes -€55,906
down €55,906 (-87.9%), from €63,572 to €7,666
- Staff costs -€18,475
down €18,475 (-46.3%), from €39,869 to €21,394
- Depreciation -€9,185
down €9,185 (-12.6%), from €72,771 to €63,586
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 | €2,020,039 | €1,929,207 | -€90,832 | -4.5% |
| Fixed assets | 21/28 | €800,590 | €753,460 | -€47,130 | -5.9% |
| Tangible fixed assets | 22/27 | €800,590 | €753,460 | -€47,130 | -5.9% |
| Land and buildings | 22 | €689,862 | €664,052 | -€25,810 | -3.7% |
| Plant, machinery and equipment | 23 | €97,404 | €79,701 | -€17,703 | -18.2% |
| Furniture and vehicles | 24 | €13,323 | €9,707 | -€3,616 | -27.1% |
| Current assets | 29/58 | €1,219,449 | €1,175,747 | -€43,703 | -3.6% |
| Amounts receivable within one year | 40/41 | €306,829 | €328,883 | +€22,054 | +7.2% |
| Trade receivables | 40 | €12,736 | €58,153 | +€45,417 | +356.6% |
| Other amounts receivable | 41 | €294,093 | €270,730 | -€23,363 | -7.9% |
| Cash at bank and in hand | 54/58 | €900,495 | €833,561 | -€66,934 | -7.4% |
| Deferred charges and accrued income | 490/1 | €12,125 | €13,303 | +€1,178 | +9.7% |
| Total equity and liabilities | 10/49 | €2,020,039 | €1,929,207 | -€90,832 | -4.5% |
| Equity | 10/15 | €1,430,690 | €1,435,850 | +€5,160 | +0.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,416,240 | €1,421,400 | +€5,160 | +0.4% |
| Distributable reserves | 133 | €1,416,240 | €1,421,400 | +€5,160 | +0.4% |
| Profit (loss) carried forward | 14 | €2,050 | €2,050 | +€0 | 0.0% |
| Amounts payable | 17/49 | €589,349 | €493,357 | -€95,993 | -16.3% |
| Amounts payable after more than one year | 17 | €405,342 | €367,344 | -€37,998 | -9.4% |
| Financial debts | 170/4 | €405,342 | €367,344 | -€37,998 | -9.4% |
| Amounts payable within one year | 42/48 | €184,007 | €126,013 | -€57,995 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €37,998 | €37,998 | = | 0.0% |
| Trade debts | 44 | €4,951 | €2,239 | -€2,713 | -54.8% |
| Suppliers | 440/4 | €4,951 | €2,239 | -€2,713 | -54.8% |
| Taxes, remuneration and social security | 45 | €20,594 | €3,244 | -€17,350 | -84.2% |
| Taxes | 450/3 | €14,940 | €1,716 | -€13,224 | -88.5% |
| Remuneration and social security | 454/9 | €5,654 | €1,528 | -€4,126 | -73.0% |
| Other amounts payable | 47/48 | €120,464 | €82,531 | -€37,932 | -31.5% |
| Remuneration, social security and pensions | 62 | €39,869 | €21,394 | -€18,475 | -46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,771 | €63,586 | -€9,185 | -12.6% |
| Other operating charges | 640/8 | €5,489 | €5,652 | +€163 | +3.0% |
| Gross operating margin | 9900 | €336,294 | €108,241 | -€228,054 | -67.8% |
| Operating profit (loss) | 9901 | €218,166 | €17,609 | -€200,557 | -91.9% |
| Financial charges | 65/66B | €5,139 | €4,782 | -€357 | -6.9% |
| Recurring financial charges | 65 | €5,139 | €4,782 | -€357 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €213,027 | €12,827 | -€200,200 | -94.0% |
| Income taxes | 67/77 | €63,572 | €7,666 | -€55,906 | -87.9% |
| Profit (loss) for the period | 9904 | €149,455 | €5,160 | -€144,295 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €149,455 | €5,160 | -€144,295 | -96.5% |
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 12 October 2026 via checked.be.