FG STESO: 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.
FG STESO
Largest movements
- Tangible fixed assets -€42,182
down €42,182 (-8.2%), from €513,807 to €471,625
of which Land and buildings: -€40,701
- Cash +€20,834
up €20,834 (+59.6%), from €34,928 to €55,763
mainly Depreciation (+€47,182) and Net result for the year (+€22,355)
- Debts after one year -€42,481
down €42,481 (-10.9%), from €389,447 to €346,966
- Reserves +€22,355
up €22,355 (+39.3%), from €56,950 to €79,306
- Tax, wage and social debts +€8,529
up €8,529 (+177%), from €4,826 to €13,355
- Other debts -€6,327
down €6,327 (-7.6%), from €82,937 to €76,611
- Gross operating margin +€21,428
up €21,428 (+26.9%), from €79,511 to €100,939
- Taxes +€8,027
up €8,027 (+203%), from €3,954 to €11,981
- Depreciation -€1,334
down €1,334 (-2.8%), from €48,516 to €47,182
- Financial charges -€1,269
down €1,269 (-10.1%), from €12,517 to €11,248
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 | €590,177 | €577,927 | -€12,250 | -2.1% |
| Fixed assets | 21/28 | €513,807 | €471,625 | -€42,182 | -8.2% |
| Tangible fixed assets | 22/27 | €513,807 | €471,625 | -€42,182 | -8.2% |
| Land and buildings | 22 | €509,576 | €468,875 | -€40,701 | -8.0% |
| Plant, machinery and equipment | 23 | €301 | €31 | -€270 | -89.6% |
| Furniture and vehicles | 24 | €3,930 | €2,718 | -€1,212 | -30.8% |
| Current assets | 29/58 | €76,370 | €106,302 | +€29,932 | +39.2% |
| Stocks and contracts in progress | 3 | €40,000 | €44,298 | +€4,298 | +10.7% |
| Stocks | 30/36 | €40,000 | €44,298 | +€4,298 | +10.7% |
| Amounts receivable within one year | 40/41 | €163 | €0 | -€163 | -100% |
| Other amounts receivable | 41 | €163 | €0 | -€163 | -100% |
| Cash at bank and in hand | 54/58 | €34,928 | €55,763 | +€20,834 | +59.6% |
| Deferred charges and accrued income | 490/1 | €1,279 | €6,242 | +€4,963 | +388% |
| Total equity and liabilities | 10/49 | €590,177 | €577,927 | -€12,250 | -2.1% |
| Equity | 10/15 | €76,950 | €99,306 | +€22,355 | +29.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €56,950 | €79,306 | +€22,355 | +39.3% |
| Distributable reserves | 133 | €56,950 | €79,306 | +€22,355 | +39.3% |
| Amounts payable | 17/49 | €513,227 | €478,621 | -€34,605 | -6.7% |
| Amounts payable after more than one year | 17 | €389,447 | €346,966 | -€42,481 | -10.9% |
| Financial debts | 170/4 | €389,447 | €346,966 | -€42,481 | -10.9% |
| Amounts payable within one year | 42/48 | €123,780 | €131,655 | +€7,876 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €33,535 | €34,798 | +€1,263 | +3.8% |
| Trade debts | 44 | €2,481 | €6,892 | +€4,410 | +178% |
| Suppliers | 440/4 | €2,481 | €6,892 | +€4,410 | +178% |
| Taxes, remuneration and social security | 45 | €4,826 | €13,355 | +€8,529 | +177% |
| Taxes | 450/3 | €4,826 | €13,355 | +€8,529 | +177% |
| Other amounts payable | 47/48 | €82,937 | €76,611 | -€6,327 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,516 | €47,182 | -€1,334 | -2.8% |
| Other operating charges | 640/8 | €7,774 | €8,172 | +€398 | +5.1% |
| Gross operating margin | 9900 | €79,511 | €100,939 | +€21,428 | +26.9% |
| Operating profit (loss) | 9901 | €23,221 | €45,584 | +€22,364 | +96.3% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100% |
| Financial charges | 65/66B | €12,517 | €11,248 | -€1,269 | -10.1% |
| Recurring financial charges | 65 | €12,517 | €11,248 | -€1,269 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €10,706 | €34,336 | +€23,631 | +221% |
| Income taxes | 67/77 | €3,954 | €11,981 | +€8,027 | +203% |
| Profit (loss) for the period | 9904 | €6,752 | €22,355 | +€15,604 | +231% |
| Profit (loss) for the period to be appropriated | 9905 | €6,752 | €22,355 | +€15,604 | +231% |
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 19 October 2026 via checked.be.