N.V. STENOFER: 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.
N.V. STENOFER
Largest movements
- Receivables within one year +€2.1m
up €2.1m (+96.1%), from €2.2m to €4.3m
of which Trade receivables: +€2.1m
- Stocks and contracts +€1.3m
up €1.3m (+50.7%), from €2.6m to €3.9m
- Cash -€643,711
down €643,711 (-45.0%), from €1.4m to €787,799
mainly Receivables within one year (-€2.1m) and Stocks and contracts (-€1.3m)
- Tangible fixed assets -€106,489
down €106,489 (-6.8%), from €1.6m to €1.5m
of which Plant, machinery and equipment: -€167,738
- Other debts +€2.3m
up €2.3m (+277%), from €812,830 to €3.1m
- Trade debts +€521,780
up €521,780 (+32.1%), from €1.6m to €2.1m
- Debts after one year -€352,681
down €352,681 (-47.4%), from €744,167 to €391,485
- Profit (loss) carried forward +€229,248
up €229,248 (+7.9%), from €2.9m to €3.1m
- Gross operating margin -€332,395
down €332,395 (-25.7%), from €1.3m to €962,837
- Depreciation +€226,190
up €226,190 (+125%), from €181,247 to €407,437
- Taxes -€112,656
down €112,656 (-50.7%), from €222,041 to €109,385
- Staff costs -€48,481
down €48,481 (-22.8%), from €212,520 to €164,038
- Financial charges +€22,016
up €22,016 (+91.0%), from €24,200 to €46,217
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 | €7,805,753 | €10,471,535 | +€2.7m | +34.2% |
| Fixed assets | 21/28 | €1,601,397 | €1,494,908 | -€106,489 | -6.6% |
| Tangible fixed assets | 22/27 | €1,566,582 | €1,460,093 | -€106,489 | -6.8% |
| Plant, machinery and equipment | 23 | €1,322,053 | €1,154,315 | -€167,738 | -12.7% |
| Furniture and vehicles | 24 | €0 | €159,756 | +€159,756 | |
| Other tangible fixed assets | 26 | €244,529 | €146,023 | -€98,506 | -40.3% |
| Financial fixed assets | 28 | €34,814 | €34,814 | = | 0.0% |
| Current assets | 29/58 | €6,204,356 | €8,976,627 | +€2.8m | +44.7% |
| Stocks and contracts in progress | 3 | €2,573,291 | €3,878,116 | +€1.3m | +50.7% |
| Stocks | 30/36 | €2,573,291 | €3,878,116 | +€1.3m | +50.7% |
| Amounts receivable within one year | 40/41 | €2,195,836 | €4,306,994 | +€2.1m | +96.1% |
| Trade receivables | 40 | €2,086,231 | €4,226,712 | +€2.1m | +103% |
| Other amounts receivable | 41 | €109,605 | €80,282 | -€29,323 | -26.8% |
| Cash at bank and in hand | 54/58 | €1,431,511 | €787,799 | -€643,711 | -45.0% |
| Deferred charges and accrued income | 490/1 | €3,718 | €3,718 | = | 0.0% |
| Total equity and liabilities | 10/49 | €7,805,753 | €10,471,535 | +€2.7m | +34.2% |
| Equity | 10/15 | €3,983,461 | €4,212,709 | +€229,248 | +5.8% |
| Contributions | 10/11 | €257,561 | €257,561 | = | 0.0% |
| Capital | 10 | €257,561 | €257,561 | = | 0.0% |
| Issued capital | 100 | €257,561 | €257,561 | = | 0.0% |
| Reserves | 13 | €817,907 | €817,907 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,756 | €25,756 | = | 0.0% |
| Legal reserve | 130 | €25,756 | €25,756 | = | 0.0% |
| Distributable reserves | 133 | €792,151 | €792,151 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,907,992 | €3,137,240 | +€229,248 | +7.9% |
| Amounts payable | 17/49 | €3,822,292 | €6,258,826 | +€2.4m | +63.7% |
| Amounts payable after more than one year | 17 | €744,167 | €391,485 | -€352,681 | -47.4% |
| Financial debts | 170/4 | €744,167 | €391,485 | -€352,681 | -47.4% |
| Amounts payable within one year | 42/48 | €3,048,125 | €5,837,341 | +€2.8m | +91.5% |
| Current portion of amounts payable after more than one year | 42 | €470,000 | €498,094 | +€28,094 | +6.0% |
| Trade debts | 44 | €1,627,338 | €2,149,117 | +€521,780 | +32.1% |
| Suppliers | 440/4 | €1,627,338 | €2,149,117 | +€521,780 | +32.1% |
| Taxes, remuneration and social security | 45 | €137,958 | €124,704 | -€13,254 | -9.6% |
| Taxes | 450/3 | €103,517 | €110,000 | +€6,483 | +6.3% |
| Remuneration and social security | 454/9 | €34,441 | €14,704 | -€19,737 | -57.3% |
| Other amounts payable | 47/48 | €812,830 | €3,065,426 | +€2.3m | +277% |
| Accrued charges and deferred income | 492/3 | €30,000 | €30,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €212,520 | €164,038 | -€48,481 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,247 | €407,437 | +€226,190 | +125% |
| Other operating charges | 640/8 | €28,263 | €31,513 | +€3,250 | +11.5% |
| Gross operating margin | 9900 | €1,295,232 | €962,837 | -€332,395 | -25.7% |
| Operating profit (loss) | 9901 | €873,203 | €359,849 | -€513,354 | -58.8% |
| Financial income | 75/76B | €7,386 | €25,000 | +€17,614 | +238% |
| Recurring financial income | 75 | €7,386 | €0 | -€7,386 | -100.0% |
| Non-recurring financial income | 76B | - | €25,000 | +€25,000 | |
| Financial charges | 65/66B | €24,200 | €46,217 | +€22,016 | +91.0% |
| Recurring financial charges | 65 | €24,200 | €46,217 | +€22,016 | +91.0% |
| Profit (loss) for the period before taxes | 9903 | €856,388 | €338,633 | -€517,755 | -60.5% |
| Income taxes | 67/77 | €222,041 | €109,385 | -€112,656 | -50.7% |
| Profit (loss) for the period | 9904 | €634,347 | €229,248 | -€405,099 | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €634,347 | €229,248 | -€405,099 | -63.9% |
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 14 October 2026 via checked.be.