ELEVEN STEENS: 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.
ELEVEN STEENS
Largest movements
- Tangible fixed assets -€67,445
down €67,445 (-4.4%), from €1.5m to €1.5m
- Profit (loss) carried forward -€96,186
down €96,186 (-13.5%), from -€712,727 to -€808,913
- Other debts +€29,661
up €29,661 (+1.6%), from €1.9m to €1.9m
- Other operating charges -€7,426
down €7,426 (-27.4%), from €27,141 to €19,715
- Financial charges -€4,046
down €4,046 (-40.6%), from €9,965 to €5,920
- Gross operating margin -€747
down €747 (-31.7%), from -€2,359 to -€3,106
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 | €1,567,742 | €1,502,132 | -€65,610 | -4.2% |
| Fixed assets | 21/28 | €1,544,474 | €1,477,029 | -€67,445 | -4.4% |
| Tangible fixed assets | 22/27 | €1,544,474 | €1,477,029 | -€67,445 | -4.4% |
| Land and buildings | 22 | €1,544,474 | €1,477,029 | -€67,445 | -4.4% |
| Current assets | 29/58 | €23,268 | €25,103 | +€1,836 | +7.9% |
| Amounts receivable within one year | 40/41 | €22,082 | €22,435 | +€354 | +1.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €22,082 | €22,435 | +€354 | +1.6% |
| Cash at bank and in hand | 54/58 | €1,186 | €2,668 | +€1,482 | +125% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,567,742 | €1,502,132 | -€65,610 | -4.2% |
| Equity | 10/15 | -€312,727 | -€408,913 | -€96,186 | -30.8% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€712,727 | -€808,913 | -€96,186 | -13.5% |
| Amounts payable | 17/49 | €1,880,468 | €1,911,045 | +€30,576 | +1.6% |
| Amounts payable within one year | 42/48 | €1,880,468 | €1,910,046 | +€29,578 | +1.6% |
| Trade debts | 44 | €2,323 | €2,240 | -€83 | -3.6% |
| Suppliers | 440/4 | €2,323 | €2,240 | -€83 | -3.6% |
| Other amounts payable | 47/48 | €1,878,145 | €1,907,806 | +€29,661 | +1.6% |
| Accrued charges and deferred income | 492/3 | - | €998 | +€998 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,445 | €67,445 | = | 0.0% |
| Other operating charges | 640/8 | €27,141 | €19,715 | -€7,426 | -27.4% |
| Gross operating margin | 9900 | -€2,359 | -€3,106 | -€747 | -31.7% |
| Operating profit (loss) | 9901 | -€96,945 | -€90,267 | +€6,679 | +6.9% |
| Financial charges | 65/66B | €9,965 | €5,920 | -€4,046 | -40.6% |
| Recurring financial charges | 65 | €9,965 | €5,920 | -€4,046 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | -€106,911 | -€96,186 | +€10,725 | +10.0% |
| Profit (loss) for the period | 9904 | -€106,911 | -€96,186 | +€10,725 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€106,911 | -€96,186 | +€10,725 | +10.0% |
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 29 October 2026 via checked.be.