STE.CE: 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.
STE.CE
Largest movements
- Cash +€86,803
up €86,803 (+92.2%), from €94,160 to €180,963
mainly Net result for the year (+€44,903) and Other debts (+€36,902)
- Receivables within one year -€22,925
down €22,925 (-47.5%), from €48,311 to €25,386
of which Trade receivables: -€25,735
- Tangible fixed assets -€17,853
down €17,853 (-29.9%), from €59,700 to €41,847
- Other debts +€36,902
up €36,902 (+67.1%), from €54,959 to €91,861
- Tax, wage and social debts +€8,264
up €8,264 (+84.3%), from €9,803 to €18,067
- Gross operating margin +€31,242
up €31,242 (+64.6%), from €48,336 to €79,578
- Taxes +€4,379
up €4,379 (+56.1%), from €7,811 to €12,190
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 | €202,171 | €248,196 | +€46,026 | +22.8% |
| Fixed assets | 21/28 | €59,700 | €41,847 | -€17,853 | -29.9% |
| Tangible fixed assets | 22/27 | €59,700 | €41,847 | -€17,853 | -29.9% |
| Furniture and vehicles | 24 | €59,700 | €41,847 | -€17,853 | -29.9% |
| Current assets | 29/58 | €142,471 | €206,349 | +€63,878 | +44.8% |
| Amounts receivable within one year | 40/41 | €48,311 | €25,386 | -€22,925 | -47.5% |
| Trade receivables | 40 | €44,122 | €18,387 | -€25,735 | -58.3% |
| Other amounts receivable | 41 | €4,189 | €6,999 | +€2,810 | +67.1% |
| Cash at bank and in hand | 54/58 | €94,160 | €180,963 | +€86,803 | +92.2% |
| Total equity and liabilities | 10/49 | €202,171 | €248,196 | +€46,026 | +22.8% |
| Equity | 10/15 | €137,124 | €136,891 | -€233 | -0.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €131,891 | €131,891 | = | 0.0% |
| Distributable reserves | 133 | €131,891 | €131,891 | = | 0.0% |
| Profit (loss) carried forward | 14 | €233 | - | -€233 | |
| Amounts payable | 17/49 | €65,047 | €111,306 | +€46,259 | +71.1% |
| Amounts payable within one year | 42/48 | €65,047 | €111,306 | +€46,259 | +71.1% |
| Trade debts | 44 | €285 | €1,378 | +€1,092 | +382.7% |
| Suppliers | 440/4 | €285 | €1,378 | +€1,092 | +382.7% |
| Taxes, remuneration and social security | 45 | €9,803 | €18,067 | +€8,264 | +84.3% |
| Taxes | 450/3 | €9,803 | €18,067 | +€8,264 | +84.3% |
| Other amounts payable | 47/48 | €54,959 | €91,861 | +€36,902 | +67.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,853 | €17,853 | = | 0.0% |
| Other operating charges | 640/8 | €1,121 | €893 | -€228 | -20.3% |
| Gross operating margin | 9900 | €48,336 | €79,578 | +€31,242 | +64.6% |
| Operating profit (loss) | 9901 | €29,363 | €60,833 | +€31,470 | +107.2% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €3,539 | €3,746 | +€207 | +5.8% |
| Recurring financial charges | 65 | €3,539 | €3,746 | +€207 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €25,823 | €57,093 | +€31,270 | +121.1% |
| Income taxes | 67/77 | €7,811 | €12,190 | +€4,379 | +56.1% |
| Profit (loss) for the period | 9904 | €18,012 | €44,903 | +€26,891 | +149.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,012 | €44,903 | +€26,891 | +149.3% |
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 9 October 2026 via checked.be.