IMMO STEPPUS: 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.
IMMO STEPPUS
Largest movements
- Stocks and contracts +€489,467
up €489,467 (+31.0%), from €1.6m to €2.1m
- Tangible fixed assets -€183,445
down €183,445 (-6.2%), from €3.0m to €2.8m
of which Land and buildings: -€180,428
- Receivables within one year -€95,041
down €95,041 (-67.9%), from €140,041 to €45,000
of which Other amounts receivable: -€82,041
- Cash +€93,661
up €93,661 (+194.3%), from €48,201 to €141,863
mainly Debts after one year (+€202,539) and Depreciation (+€167,712)
- Deferred charges and accrued income -€74,014
down €74,014 (-93.7%), from €78,955 to €4,941
- Debts after one year +€202,539
up €202,539 (+5.1%), from €4.0m to €4.2m
- Tax, wage and social debts +€89,306
up €89,306 (+226.4%), from €39,440 to €128,746
- Reserves -€85,468
down €85,468 (-27.4%), from €311,818 to €226,350
of which Distributable reserves: -€85,468
- Financial charges +€44,347
up €44,347 (+47.5%), from €93,289 to €137,635
- Gross operating margin -€29,356
down €29,356 (-10.3%), from €286,124 to €256,768
- Other operating charges +€20,383
up €20,383 (+124.8%), from €16,335 to €36,718
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.
Cash bridge derived
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 | €4,807,534 | €5,041,222 | +€233,688 | +4.9% |
| Fixed assets | 21/28 | €2,961,073 | €2,780,687 | -€180,385 | -6.1% |
| Tangible fixed assets | 22/27 | €2,956,844 | €2,773,398 | -€183,445 | -6.2% |
| Land and buildings | 22 | €2,952,970 | €2,772,542 | -€180,428 | -6.1% |
| Plant, machinery and equipment | 23 | €3,874 | €857 | -€3,017 | -77.9% |
| Financial fixed assets | 28 | €4,229 | €7,289 | +€3,060 | +72.4% |
| Current assets | 29/58 | €1,846,461 | €2,260,535 | +€414,073 | +22.4% |
| Stocks and contracts in progress | 3 | €1,579,264 | €2,068,731 | +€489,467 | +31.0% |
| Stocks | 30/36 | €1,579,264 | €2,068,731 | +€489,467 | +31.0% |
| Amounts receivable within one year | 40/41 | €140,041 | €45,000 | -€95,041 | -67.9% |
| Trade receivables | 40 | €58,000 | €45,000 | -€13,000 | -22.4% |
| Other amounts receivable | 41 | €82,041 | - | -€82,041 | |
| Cash at bank and in hand | 54/58 | €48,201 | €141,863 | +€93,661 | +194.3% |
| Deferred charges and accrued income | 490/1 | €78,955 | €4,941 | -€74,014 | -93.7% |
| Total equity and liabilities | 10/49 | €4,807,534 | €5,041,222 | +€233,688 | +4.9% |
| Equity | 10/15 | €373,818 | €288,350 | -€85,468 | -22.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €311,818 | €226,350 | -€85,468 | -27.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €305,618 | €220,150 | -€85,468 | -28.0% |
| Amounts payable | 17/49 | €4,433,716 | €4,752,872 | +€319,156 | +7.2% |
| Amounts payable after more than one year | 17 | €3,975,820 | €4,178,359 | +€202,539 | +5.1% |
| Financial debts | 170/4 | €3,975,820 | €4,178,359 | +€202,539 | +5.1% |
| Amounts payable within one year | 42/48 | €450,716 | €558,665 | +€107,949 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €289,454 | €290,461 | +€1,007 | +0.3% |
| Trade debts | 44 | €21,385 | €32,865 | +€11,480 | +53.7% |
| Suppliers | 440/4 | €21,385 | €32,865 | +€11,480 | +53.7% |
| Taxes, remuneration and social security | 45 | €39,440 | €128,746 | +€89,306 | +226.4% |
| Taxes | 450/3 | €39,440 | €128,746 | +€89,306 | +226.4% |
| Other amounts payable | 47/48 | €100,437 | €106,594 | +€6,156 | +6.1% |
| Accrued charges and deferred income | 492/3 | €7,180 | €15,848 | +€8,667 | +120.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,911 | €167,712 | -€1,199 | -0.7% |
| Other operating charges | 640/8 | €16,335 | €36,718 | +€20,383 | +124.8% |
| Gross operating margin | 9900 | €286,124 | €256,768 | -€29,356 | -10.3% |
| Operating profit (loss) | 9901 | €100,879 | €52,338 | -€48,540 | -48.1% |
| Financial income | 75/76B | €17 | €0 | -€17 | -99.9% |
| Recurring financial income | 75 | €17 | €0 | -€17 | -99.9% |
| Financial charges | 65/66B | €93,289 | €137,635 | +€44,347 | +47.5% |
| Recurring financial charges | 65 | €93,289 | €137,635 | +€44,347 | +47.5% |
| Profit (loss) for the period before taxes | 9903 | €7,607 | -€85,297 | -€92,903 | |
| Income taxes | 67/77 | €1,902 | €171 | -€1,731 | -91.0% |
| Profit (loss) for the period | 9904 | €5,705 | -€85,468 | -€91,173 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,705 | -€85,468 | -€91,173 |
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 11 October 2026 via checked.be.