STE-LO: what changed
Two fiscal 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-LO
Largest movements
- Receivables within one year +€320,568
up €320,568 (+1447.5%), from €22,147 to €342,715
of which Other amounts receivable: +€336,298
- Cash -€171,046
down €171,046 (-61.8%), from €276,744 to €105,698
mainly Receivables within one year (-€320,568) and Contributions, distributions and other (-€117,794)
- Tangible fixed assets +€10,205
up €10,205 (+192.5%), from €5,301 to €15,506
of which Furniture and vehicles: +€5,311
- Profit (loss) carried forward +€75,488
up €75,488 (+27.8%), from €271,624 to €347,111
- Other debts +€73,138
new in 2025: €73,138
- Trade debts +€8,352
up €8,352 (+16112.0%), from €52 to €8,404
- Gross operating margin -€20,640
down €20,640 (-7.4%), from €277,051 to €256,410
- Taxes -€4,296
down €4,296 (-6.7%), from €64,080 to €59,785
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 | €305,839 | €465,671 | +€159,832 | +52.3% |
| Fixed assets | 21/28 | €5,301 | €15,506 | +€10,205 | +192.5% |
| Tangible fixed assets | 22/27 | €5,301 | €15,506 | +€10,205 | +192.5% |
| Plant, machinery and equipment | 23 | €509 | €166 | -€344 | -67.5% |
| Furniture and vehicles | 24 | €4,792 | €10,103 | +€5,311 | +110.8% |
| Other tangible fixed assets | 26 | - | €5,238 | +€5,238 | |
| Current assets | 29/58 | €300,537 | €450,165 | +€149,627 | +49.8% |
| Amounts receivable within one year | 40/41 | €22,147 | €342,715 | +€320,568 | +1447.5% |
| Trade receivables | 40 | €15,730 | - | -€15,730 | |
| Other amounts receivable | 41 | €6,417 | €342,715 | +€336,298 | +5240.8% |
| Cash at bank and in hand | 54/58 | €276,744 | €105,698 | -€171,046 | -61.8% |
| Deferred charges and accrued income | 490/1 | €1,647 | €1,752 | +€105 | +6.4% |
| Total equity and liabilities | 10/49 | €305,839 | €465,671 | +€159,832 | +52.3% |
| Equity | 10/15 | €292,084 | €367,571 | +€75,488 | +25.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €271,624 | €347,111 | +€75,488 | +27.8% |
| Amounts payable | 17/49 | €13,755 | €98,100 | +€84,345 | +613.2% |
| Amounts payable within one year | 42/48 | €13,755 | €98,100 | +€84,345 | +613.2% |
| Trade debts | 44 | €52 | €8,404 | +€8,352 | +16112.0% |
| Suppliers | 440/4 | €52 | €8,404 | +€8,352 | +16112.0% |
| Taxes, remuneration and social security | 45 | €13,703 | €16,558 | +€2,855 | +20.8% |
| Taxes | 450/3 | €13,703 | €16,558 | +€2,855 | +20.8% |
| Other amounts payable | 47/48 | - | €73,138 | +€73,138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,639 | €4,059 | +€419 | +11.5% |
| Other operating charges | 640/8 | €778 | €379 | -€400 | -51.4% |
| Gross operating margin | 9900 | €277,051 | €256,410 | -€20,640 | -7.4% |
| Operating profit (loss) | 9901 | €272,633 | €251,973 | -€20,660 | -7.6% |
| Financial income | 75/76B | €667 | €2,085 | +€1,418 | +212.5% |
| Recurring financial income | 75 | €667 | €2,085 | +€1,418 | +212.5% |
| Financial charges | 65/66B | €257 | €991 | +€735 | +286.1% |
| Recurring financial charges | 65 | €257 | €991 | +€735 | +286.1% |
| Profit (loss) for the period before taxes | 9903 | €273,043 | €253,066 | -€19,977 | -7.3% |
| Income taxes | 67/77 | €64,080 | €59,785 | -€4,296 | -6.7% |
| Profit (loss) for the period | 9904 | €208,963 | €193,282 | -€15,681 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €208,963 | €193,282 | -€15,681 | -7.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.