ETABLISSEMENTS STECKER: what changed
ETABLISSEMENTS STECKER
Largest movements
- Cash +€239,224
up €239,224 (+49.7%), from €481,341 to €720,565
mainly Other debts (+€166,000) and Stocks and contracts (+€109,663)
- Stocks and contracts -€109,663
down €109,663 (-9.6%), from €1.1m to €1.0m
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year -€64,356
down €64,356 (-73.1%), from €87,997 to €23,641
of which Trade receivables: -€40,118
- Tangible fixed assets -€43,988
down €43,988 (-5.1%), from €858,657 to €814,669
of which Plant, machinery and equipment: -€35,084
- Reserves -€228,080
down €228,080 (-17.0%), from €1.3m to €1.1m
- Other debts +€166,000
up €166,000 (+139%), from €119,048 to €285,048
- Debts after one year -€33,621
down €33,621 (-11.3%), from €298,403 to €264,782
- Tax, wage and social debts -€32,756
down €32,756 (-14.6%), from €224,769 to €192,013
of which Remuneration and social security: -€38,678
- Other operating charges +€83,257
up €83,257 (+588%), from €14,161 to €97,419
- Write-downs -€82,905
down €82,905, from €358 to -€82,547
- Taxes +€40,125
up €40,125 (+787%), from €5,100 to €45,225
- Gross operating margin +€29,702
up €29,702 (+3.1%), from €956,263 to €985,964
- Staff costs -€21,840
down €21,840 (-2.8%), from €768,858 to €747,018
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,729,388 | €2,659,810 | -€69,578 | -2.5% |
| Fixed assets | 21/28 | €913,565 | €863,877 | -€49,688 | -5.4% |
| Intangible fixed assets | 21 | €54,907 | €49,207 | -€5,700 | -10.4% |
| Tangible fixed assets | 22/27 | €858,657 | €814,669 | -€43,988 | -5.1% |
| Land and buildings | 22 | €702,661 | €683,844 | -€18,817 | -2.7% |
| Plant, machinery and equipment | 23 | €104,146 | €69,061 | -€35,084 | -33.7% |
| Furniture and vehicles | 24 | €51,851 | €61,765 | +€9,913 | +19.1% |
| Current assets | 29/58 | €1,815,823 | €1,795,933 | -€19,890 | -1.1% |
| Stocks and contracts in progress | 3 | €1,139,242 | €1,029,579 | -€109,663 | -9.6% |
| Stocks | 30/36 | €1,139,242 | €1,029,579 | -€109,663 | -9.6% |
| Amounts receivable within one year | 40/41 | €87,997 | €23,641 | -€64,356 | -73.1% |
| Trade receivables | 40 | €63,759 | €23,641 | -€40,118 | -62.9% |
| Other amounts receivable | 41 | €24,237 | - | -€24,237 | |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €481,341 | €720,565 | +€239,224 | +49.7% |
| Deferred charges and accrued income | 490/1 | €7,243 | €22,149 | +€14,905 | +206% |
| Total equity and liabilities | 10/49 | €2,729,388 | €2,659,810 | -€69,578 | -2.5% |
| Equity | 10/15 | €1,998,063 | €1,769,983 | -€228,080 | -11.4% |
| Contributions | 10/11 | €33,466 | €33,466 | = | 0.0% |
| Reserves | 13 | €1,341,995 | €1,113,915 | -€228,080 | -17.0% |
| Distributable reserves | 133 | €1,341,995 | €1,113,915 | -€228,080 | -17.0% |
| Profit (loss) carried forward | 14 | €622,603 | €622,603 | = | 0.0% |
| Amounts payable | 17/49 | €731,325 | €889,827 | +€158,502 | +21.7% |
| Amounts payable after more than one year | 17 | €298,403 | €264,782 | -€33,621 | -11.3% |
| Financial debts | 170/4 | €298,403 | €264,782 | -€33,621 | -11.3% |
| Amounts payable within one year | 42/48 | €432,922 | €625,044 | +€192,123 | +44.4% |
| Current portion of amounts payable after more than one year | 42 | €66,421 | €75,225 | +€8,804 | +13.3% |
| Trade debts | 44 | €22,684 | €46,746 | +€24,062 | +106% |
| Suppliers | 440/4 | €22,684 | €46,746 | +€24,062 | +106% |
| Advances received on contracts in progress | 46 | - | €26,013 | +€26,013 | |
| Taxes, remuneration and social security | 45 | €224,769 | €192,013 | -€32,756 | -14.6% |
| Taxes | 450/3 | €106,710 | €112,632 | +€5,922 | +5.5% |
| Remuneration and social security | 454/9 | €118,059 | €79,381 | -€38,678 | -32.8% |
| Other amounts payable | 47/48 | €119,048 | €285,048 | +€166,000 | +139% |
| Non-recurring operating income | 76A | - | €26,000 | +€26,000 | |
| Remuneration, social security and pensions | 62 | €768,858 | €747,018 | -€21,840 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,862 | €108,258 | -€604 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €358 | -€82,547 | -€82,905 | |
| Other operating charges | 640/8 | €14,161 | €97,419 | +€83,257 | +588% |
| Non-recurring operating charges | 66A | €98 | - | -€98 | |
| Gross operating margin | 9900 | €956,263 | €985,964 | +€29,702 | +3.1% |
| Operating profit (loss) | 9901 | €63,925 | €115,817 | +€51,892 | +81.2% |
| Financial income | 75/76B | €57,601 | €60,902 | +€3,301 | +5.7% |
| Recurring financial income | 75 | €57,601 | €60,902 | +€3,301 | +5.7% |
| Financial charges | 65/66B | €44,126 | €59,574 | +€15,448 | +35.0% |
| Recurring financial charges | 65 | €44,126 | €59,574 | +€15,448 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €77,400 | €117,145 | +€39,745 | +51.4% |
| Income taxes | 67/77 | €5,100 | €45,225 | +€40,125 | +787% |
| Profit (loss) for the period | 9904 | €72,300 | €71,920 | -€380 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €72,300 | €71,920 | -€380 | -0.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.