GLASWERKEN DE STEUR: what changed
What changed
GLASWERKEN DE STEUR
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
€194,035
2024 · €179,960+€14,075
Equity
€992,577
2024 · €798,542+€194,035
Cash
€701,423
2024 · €604,779+€96,644
Balance sheet total
€1.1m
2024 · €942,165+€172,872
Largest movements
Assets
- Cash +€96,644
up €96,644 (+16.0%), from €604,779 to €701,423
mainly Net result for the year (+€194,035) and Depreciation (+€69,669)
- Tangible fixed assets +€53,764
up €53,764 (+28.2%), from €190,987 to €244,751
of which Plant, machinery and equipment: +€87,001
- Receivables within one year +€24,358
up €24,358 (+19.8%), from €123,128 to €147,487
of which Trade receivables: +€35,104
Equity and liabilities
- Reserves +€194,035
up €194,035 (+24.9%), from €779,942 to €973,977
of which Distributable reserves: +€194,035
- Debts after one year -€22,812
down €22,812 (-56.2%), from €40,563 to €17,751
- Trade debts +€15,653
up €15,653 (+74.5%), from €21,003 to €36,656
- Tax, wage and social debts -€12,388
down €12,388 (-25.6%), from €48,323 to €35,935
of which Taxes: -€7,588
Income statement
- Gross operating margin +€46,502
up €46,502 (+14.4%), from €323,590 to €370,092
- Write-downs +€25,670
new in 2025: €25,670
- Financial income +€12,260
up €12,260 (+239%), from €5,138 to €17,397
- Depreciation +€11,059
up €11,059 (+18.9%), from €58,611 to €69,669
- Taxes +€6,496
up €6,496 (+8.2%), from €79,231 to €85,727
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.
Result 2024
€179,960
Gross operating margin
+€46,502
Depreciation
-€11,059
Write-downs
-€25,670
Other operating charges
+€227
Other operating items
-€2,428
Financial income
+€12,260
Financial charges
+€738
Taxes
-€6,496
Result 2025
€194,035
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€243,531
Investment
-€123,434
Financing
-€23,454
Cash 2024
€604,779
From operations (derived)
+€243,531
Net result for the year
+€194,035
Depreciation
+€69,669
Stocks and contracts
+€596
Receivables within one year
-€24,358
Deferred charges and accrued income
+€1,299
Trade debts
+€15,653
Tax, wage and social debts
-€12,388
Other debts
-€242
Accrued charges and deferred income
-€733
Investment (derived)
-€123,434
Investment in fixed assets (net)
-€123,434
Financing
-€23,454
Debts after one year
-€22,812
Current portion of long-term debt
-€642
Cash 2025
€701,423
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €942,165 | €1,115,037 | +€172,872 | +18.3% |
| Fixed assets | 21/28 | €190,987 | €244,751 | +€53,764 | +28.2% |
| Tangible fixed assets | 22/27 | €190,987 | €244,751 | +€53,764 | +28.2% |
| Land and buildings | 22 | €17,983 | €11,020 | -€6,963 | -38.7% |
| Plant, machinery and equipment | 23 | €103,950 | €190,951 | +€87,001 | +83.7% |
| Furniture and vehicles | 24 | €69,054 | €42,780 | -€26,274 | -38.0% |
| Current assets | 29/58 | €751,179 | €870,286 | +€119,107 | +15.9% |
| Stocks and contracts in progress | 3 | €19,565 | €18,970 | -€596 | -3.0% |
| Stocks | 30/36 | €19,565 | €18,795 | -€771 | -3.9% |
| Contracts in progress | 37 | - | €175 | +€175 | |
| Amounts receivable within one year | 40/41 | €123,128 | €147,487 | +€24,358 | +19.8% |
| Trade receivables | 40 | €112,225 | €147,329 | +€35,104 | +31.3% |
| Other amounts receivable | 41 | €10,904 | €158 | -€10,746 | -98.6% |
| Cash at bank and in hand | 54/58 | €604,779 | €701,423 | +€96,644 | +16.0% |
| Deferred charges and accrued income | 490/1 | €3,706 | €2,406 | -€1,299 | -35.1% |
| Total equity and liabilities | 10/49 | €942,165 | €1,115,037 | +€172,872 | +18.3% |
| Equity | 10/15 | €798,542 | €992,577 | +€194,035 | +24.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €779,942 | €973,977 | +€194,035 | +24.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €778,082 | €972,117 | +€194,035 | +24.9% |
| Amounts payable | 17/49 | €143,624 | €122,460 | -€21,163 | -14.7% |
| Amounts payable after more than one year | 17 | €40,563 | €17,751 | -€22,812 | -56.2% |
| Financial debts | 170/4 | €40,563 | €17,751 | -€22,812 | -56.2% |
| Amounts payable within one year | 42/48 | €102,323 | €104,705 | +€2,382 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €23,454 | €22,812 | -€642 | -2.7% |
| Trade debts | 44 | €21,003 | €36,656 | +€15,653 | +74.5% |
| Suppliers | 440/4 | €21,003 | €36,656 | +€15,653 | +74.5% |
| Taxes, remuneration and social security | 45 | €48,323 | €35,935 | -€12,388 | -25.6% |
| Taxes | 450/3 | €43,523 | €35,935 | -€7,588 | -17.4% |
| Remuneration and social security | 454/9 | €4,800 | €0 | -€4,800 | -100% |
| Other amounts payable | 47/48 | €9,543 | €9,301 | -€242 | -2.5% |
| Accrued charges and deferred income | 492/3 | €738 | €5 | -€733 | -99.3% |
| Non-recurring operating income | 76A | €19,500 | €7,500 | -€12,000 | -61.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,611 | €69,669 | +€11,059 | +18.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,670 | +€25,670 | |
| Other operating charges | 640/8 | €4,323 | €4,096 | -€227 | -5.2% |
| Non-recurring operating charges | 66A | €2,573 | €5,000 | +€2,428 | +94.4% |
| Gross operating margin | 9900 | €323,590 | €370,092 | +€46,502 | +14.4% |
| Operating profit (loss) | 9901 | €258,084 | €265,657 | +€7,573 | +2.9% |
| Financial income | 75/76B | €5,138 | €17,397 | +€12,260 | +239% |
| Recurring financial income | 75 | €5,138 | €17,397 | +€12,260 | +239% |
| Financial charges | 65/66B | €4,030 | €3,292 | -€738 | -18.3% |
| Recurring financial charges | 65 | €4,030 | €3,292 | -€738 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €259,192 | €279,762 | +€20,570 | +7.9% |
| Income taxes | 67/77 | €79,231 | €85,727 | +€6,496 | +8.2% |
| Profit (loss) for the period | 9904 | €179,960 | €194,035 | +€14,075 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €179,960 | €194,035 | +€14,075 | +7.8% |
Next steps
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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 4 November 2026 via checked.be.