S.T.E.C.S.: what changed
What changed
S.T.E.C.S.
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€88,324
2024 · -€84,779+€173,102
Equity
€124,137
2024 · €47,814+€76,324
Cash
€40,816
2024 · €17+€40,799
Balance sheet total
€214,790
2024 · €155,130+€59,660
Largest movements
Assets
- Cash +€40,799
up €40,799 (+238,174%), from €17 to €40,816
mainly Net result for the year (+€88,324) and Depreciation (+€19,223)
- Stocks and contracts +€15,718
up €15,718 (+128%), from €12,268 to €27,986
- Receivables within one year +€10,604
up €10,604 (+21.1%), from €50,300 to €60,904
of which Trade receivables: +€13,114
- Tangible fixed assets -€6,247
down €6,247 (-7.3%), from €86,097 to €79,850
of which Furniture and vehicles: -€8,921
Equity and liabilities
- Profit (loss) carried forward +€76,324
up €76,324 (+279%), from €27,354 to €103,677
- Debts after one year -€12,364
down €12,364 (-41.0%), from €30,170 to €17,806
- Short-term financial debts -€10,151
no longer reported in 2025 (was €10,151)
- Tax, wage and social debts -€5,540
down €5,540 (-55.5%), from €9,979 to €4,439
of which Taxes: -€7,578
- Current portion of long-term debt +€5,485
up €5,485 (+32.4%), from €16,952 to €22,437
Income statement
- Gross operating margin +€193,097
up €193,097, from -€19,623 to €173,475
- Staff costs +€42,461
up €42,461 (+836%), from €5,079 to €47,541
- Financial charges -€37,203
down €37,203 (-91.6%), from €40,637 to €3,433
- Taxes +€15,071
up €15,071 (+1,262%), from €1,195 to €16,266
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
-€84,779
Gross operating margin
+€193,097
Staff costs
-€42,461
Depreciation
+€1,429
Other operating charges
-€204
Financial income
-€891
Financial charges
+€37,203
Taxes
-€15,071
Result 2025
€88,324
raises the resultlowers the result
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
+€81,345
Investment
-€11,516
Financing
-€29,030
Cash 2024
€17
From operations (derived)
+€81,345
Net result for the year
+€88,324
Depreciation
+€19,223
Stocks and contracts
-€15,718
Receivables within one year
-€10,604
Deferred charges and accrued income
-€246
Trade debts
+€2,011
Tax, wage and social debts
-€5,540
Advances received
+€3,846
Accrued charges and deferred income
+€50
Investment (derived)
-€11,516
Investment in fixed assets (net)
-€11,516
Financing
-€29,030
Debts after one year
-€12,364
Current portion of long-term debt
+€5,485
Short-term financial debts
-€10,151
Contributions, distributions and other
-€12,000
Cash 2025
€40,816
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,130 | €214,790 | +€59,660 | +38.5% |
| Fixed assets | 21/28 | €89,501 | €81,794 | -€7,707 | -8.6% |
| Intangible fixed assets | 21 | €3,355 | €1,895 | -€1,460 | -43.5% |
| Tangible fixed assets | 22/27 | €86,097 | €79,850 | -€6,247 | -7.3% |
| Land and buildings | 22 | €46,952 | €44,705 | -€2,247 | -4.8% |
| Plant, machinery and equipment | 23 | €4,233 | €9,154 | +€4,921 | +116% |
| Furniture and vehicles | 24 | €34,912 | €25,991 | -€8,921 | -25.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €65,629 | €132,996 | +€67,367 | +103% |
| Stocks and contracts in progress | 3 | €12,268 | €27,986 | +€15,718 | +128% |
| Stocks | 30/36 | €12,268 | €27,986 | +€15,718 | +128% |
| Amounts receivable within one year | 40/41 | €50,300 | €60,904 | +€10,604 | +21.1% |
| Trade receivables | 40 | €23,084 | €36,198 | +€13,114 | +56.8% |
| Other amounts receivable | 41 | €27,216 | €24,706 | -€2,510 | -9.2% |
| Cash at bank and in hand | 54/58 | €17 | €40,816 | +€40,799 | +238,174% |
| Deferred charges and accrued income | 490/1 | €3,043 | €3,289 | +€246 | +8.1% |
| Total equity and liabilities | 10/49 | €155,130 | €214,790 | +€59,660 | +38.5% |
| Equity | 10/15 | €47,814 | €124,137 | +€76,324 | +160% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,354 | €103,677 | +€76,324 | +279% |
| Amounts payable | 17/49 | €107,316 | €90,653 | -€16,663 | -15.5% |
| Amounts payable after more than one year | 17 | €30,170 | €17,806 | -€12,364 | -41.0% |
| Financial debts | 170/4 | €30,170 | €17,806 | -€12,364 | -41.0% |
| Amounts payable within one year | 42/48 | €77,146 | €72,797 | -€4,349 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €16,952 | €22,437 | +€5,485 | +32.4% |
| Financial debts | 43 | €10,151 | - | -€10,151 | |
| Credit institutions | 430/8 | €10,151 | - | -€10,151 | |
| Trade debts | 44 | €39,910 | €41,921 | +€2,011 | +5.0% |
| Suppliers | 440/4 | €39,910 | €41,921 | +€2,011 | +5.0% |
| Advances received on contracts in progress | 46 | €154 | €4,000 | +€3,846 | +2,502% |
| Taxes, remuneration and social security | 45 | €9,979 | €4,439 | -€5,540 | -55.5% |
| Taxes | 450/3 | €8,178 | €599 | -€7,578 | -92.7% |
| Remuneration and social security | 454/9 | €1,801 | €3,839 | +€2,038 | +113% |
| Accrued charges and deferred income | 492/3 | - | €50 | +€50 | |
| Non-recurring operating income | 76A | - | €10,950 | +€10,950 | |
| Remuneration, social security and pensions | 62 | €5,079 | €47,541 | +€42,461 | +836% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,652 | €19,223 | -€1,429 | -6.9% |
| Other operating charges | 640/8 | €1,877 | €2,081 | +€204 | +10.8% |
| Gross operating margin | 9900 | -€19,623 | €173,475 | +€193,097 | |
| Operating profit (loss) | 9901 | -€47,232 | €104,630 | +€151,862 | |
| Financial income | 75/76B | €4,284 | €3,393 | -€891 | -20.8% |
| Recurring financial income | 75 | €4,284 | €3,393 | -€891 | -20.8% |
| Financial charges | 65/66B | €40,637 | €3,433 | -€37,203 | -91.6% |
| Recurring financial charges | 65 | €40,637 | €3,433 | -€37,203 | -91.6% |
| Profit (loss) for the period before taxes | 9903 | -€83,584 | €104,589 | +€188,174 | |
| Income taxes | 67/77 | €1,195 | €16,266 | +€15,071 | +1,262% |
| Profit (loss) for the period | 9904 | -€84,779 | €88,324 | +€173,102 | |
| Profit (loss) for the period to be appropriated | 9905 | -€84,779 | €88,324 | +€173,102 |
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 5 November 2026 via checked.be.