Fietsen Stefan: 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.
Fietsen Stefan
Largest movements
- Cash +€27,941
up €27,941 (+29.3%), from €95,462 to €123,403
mainly Net result for the year (+€76,885) and Trade debts (+€22,429)
- Stocks and contracts +€18,540
up €18,540 (+5.9%), from €311,919 to €330,459
- Reserves +€76,500
up €76,500 (+24.3%), from €315,000 to €391,500
- Other debts -€31,262
down €31,262 (-29.8%), from €105,056 to €73,794
- Trade debts +€22,429
up €22,429 (+319%), from €7,024 to €29,453
- Tax, wage and social debts -€18,228
down €18,228 (-69.8%), from €26,117 to €7,888
- Staff costs -€9,166
no longer reported in 2025 (was €9,166)
- Taxes +€3,386
up €3,386 (+12.7%), from €26,765 to €30,151
- Gross operating margin -€3,382
down €3,382 (-3.0%), from €113,784 to €110,402
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 | €469,142 | €513,786 | +€44,645 | +9.5% |
| Fixed assets | 21/28 | €46,714 | €43,901 | -€2,814 | -6.0% |
| Tangible fixed assets | 22/27 | €46,714 | €43,901 | -€2,814 | -6.0% |
| Land and buildings | 22 | €34,263 | €32,745 | -€1,518 | -4.4% |
| Plant, machinery and equipment | 23 | €10,621 | €9,676 | -€945 | -8.9% |
| Furniture and vehicles | 24 | €1,830 | €1,480 | -€350 | -19.1% |
| Current assets | 29/58 | €422,427 | €469,886 | +€47,458 | +11.2% |
| Stocks and contracts in progress | 3 | €311,919 | €330,459 | +€18,540 | +5.9% |
| Stocks | 30/36 | €311,919 | €330,459 | +€18,540 | +5.9% |
| Amounts receivable within one year | 40/41 | €10,960 | €10,972 | +€12 | +0.1% |
| Trade receivables | 40 | €2,938 | €10,651 | +€7,713 | +263% |
| Other amounts receivable | 41 | €8,023 | €321 | -€7,702 | -96.0% |
| Cash at bank and in hand | 54/58 | €95,462 | €123,403 | +€27,941 | +29.3% |
| Deferred charges and accrued income | 490/1 | €4,086 | €5,051 | +€965 | +23.6% |
| Total equity and liabilities | 10/49 | €469,142 | €513,786 | +€44,645 | +9.5% |
| Equity | 10/15 | €324,455 | €401,340 | +€76,885 | +23.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €315,000 | €391,500 | +€76,500 | +24.3% |
| Distributable reserves | 133 | €315,000 | €391,500 | +€76,500 | +24.3% |
| Profit (loss) carried forward | 14 | €7,455 | €7,840 | +€385 | +5.2% |
| Amounts payable | 17/49 | €144,686 | €112,446 | -€32,240 | -22.3% |
| Amounts payable after more than one year | 17 | €1,311 | - | -€1,311 | |
| Financial debts | 170/4 | €1,311 | - | -€1,311 | |
| Amounts payable within one year | 42/48 | €143,375 | €112,446 | -€30,929 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €5,178 | €1,311 | -€3,867 | -74.7% |
| Trade debts | 44 | €7,024 | €29,453 | +€22,429 | +319% |
| Suppliers | 440/4 | €7,024 | €29,453 | +€22,429 | +319% |
| Taxes, remuneration and social security | 45 | €26,117 | €7,888 | -€18,228 | -69.8% |
| Taxes | 450/3 | €26,117 | €7,888 | -€18,228 | -69.8% |
| Other amounts payable | 47/48 | €105,056 | €73,794 | -€31,262 | -29.8% |
| Remuneration, social security and pensions | 62 | €9,166 | - | -€9,166 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,447 | €4,982 | +€535 | +12.0% |
| Other operating charges | 640/8 | €1,112 | €1,257 | +€146 | +13.1% |
| Gross operating margin | 9900 | €113,784 | €110,402 | -€3,382 | -3.0% |
| Operating profit (loss) | 9901 | €99,059 | €104,163 | +€5,104 | +5.2% |
| Financial income | 75/76B | €2,500 | €3,072 | +€572 | +22.9% |
| Recurring financial income | 75 | €2,500 | €3,072 | +€572 | +22.9% |
| Financial charges | 65/66B | €333 | €199 | -€134 | -40.2% |
| Recurring financial charges | 65 | €333 | €199 | -€134 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €101,226 | €107,036 | +€5,810 | +5.7% |
| Income taxes | 67/77 | €26,765 | €30,151 | +€3,386 | +12.7% |
| Profit (loss) for the period | 9904 | €74,461 | €76,885 | +€2,424 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €74,461 | €76,885 | +€2,424 | +3.3% |
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 22 October 2026 via checked.be.