Stebar: 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.
Stebar
Largest movements
- Receivables within one year -€24,746
down €24,746 (-95.6%), from €25,897 to €1,151
of which Trade receivables: -€21,962
- Stocks and contracts +€3,014
up €3,014 (+31.5%), from €9,558 to €12,572
- Deferred charges and accrued income +€2,923
up €2,923 (+63.1%), from €4,632 to €7,554
- Cash +€1,276
up €1,276 (+9.6%), from €13,311 to €14,587
mainly Receivables within one year (+€24,746) and Net result for the year (+€8,889)
- Tangible fixed assets -€709
down €709 (-10.9%), from €6,492 to €5,783
of which Furniture and vehicles: -€1,698
- Trade debts -€33,070
down €33,070 (-59.7%), from €55,361 to €22,291
- Reserves +€8,889
up €8,889 (+478%), from €1,860 to €10,749
- Current portion of long-term debt -€8,230
down €8,230 (-73.5%), from €11,202 to €2,972
- Other debts +€7,244
up €7,244 (+195%), from €3,723 to €10,967
- Tax, wage and social debts +€6,924
up €6,924 (+54.7%), from €12,653 to €19,577
of which Remuneration and social security: +€5,097
- Gross operating margin +€35,330
up €35,330 (+25.1%), from €140,895 to €176,225
- Staff costs +€15,718
up €15,718 (+10.9%), from €143,583 to €159,300
- Depreciation -€14,228
down €14,228 (-83.9%), from €16,951 to €2,723
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 | €64,689 | €46,447 | -€18,242 | -28.2% |
| Fixed assets | 21/28 | €11,292 | €10,583 | -€709 | -6.3% |
| Tangible fixed assets | 22/27 | €6,492 | €5,783 | -€709 | -10.9% |
| Plant, machinery and equipment | 23 | €1,700 | €1,005 | -€696 | -40.9% |
| Furniture and vehicles | 24 | €3,474 | €1,776 | -€1,698 | -48.9% |
| Other tangible fixed assets | 26 | €1,317 | €3,003 | +€1,685 | +128% |
| Financial fixed assets | 28 | €4,800 | €4,800 | = | 0.0% |
| Current assets | 29/58 | €53,398 | €35,864 | -€17,533 | -32.8% |
| Stocks and contracts in progress | 3 | €9,558 | €12,572 | +€3,014 | +31.5% |
| Stocks | 30/36 | €9,558 | €12,572 | +€3,014 | +31.5% |
| Amounts receivable within one year | 40/41 | €25,897 | €1,151 | -€24,746 | -95.6% |
| Trade receivables | 40 | €23,113 | €1,151 | -€21,962 | -95.0% |
| Other amounts receivable | 41 | €2,784 | €0 | -€2,784 | -100% |
| Cash at bank and in hand | 54/58 | €13,311 | €14,587 | +€1,276 | +9.6% |
| Deferred charges and accrued income | 490/1 | €4,632 | €7,554 | +€2,923 | +63.1% |
| Total equity and liabilities | 10/49 | €64,689 | €46,447 | -€18,242 | -28.2% |
| Equity | 10/15 | -€18,250 | -€9,360 | +€8,889 | +48.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €10,749 | +€8,889 | +478% |
| Distributable reserves | 133 | €1,860 | €10,749 | +€8,889 | +478% |
| Profit (loss) carried forward | 14 | -€26,310 | -€26,310 | = | 0.0% |
| Amounts payable | 17/49 | €82,939 | €55,808 | -€27,131 | -32.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €82,939 | €55,808 | -€27,131 | -32.7% |
| Current portion of amounts payable after more than one year | 42 | €11,202 | €2,972 | -€8,230 | -73.5% |
| Trade debts | 44 | €55,361 | €22,291 | -€33,070 | -59.7% |
| Suppliers | 440/4 | €55,361 | €22,291 | -€33,070 | -59.7% |
| Taxes, remuneration and social security | 45 | €12,653 | €19,577 | +€6,924 | +54.7% |
| Taxes | 450/3 | €3,834 | €5,661 | +€1,827 | +47.6% |
| Remuneration and social security | 454/9 | €8,819 | €13,916 | +€5,097 | +57.8% |
| Other amounts payable | 47/48 | €3,723 | €10,967 | +€7,244 | +195% |
| Remuneration, social security and pensions | 62 | €143,583 | €159,300 | +€15,718 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,951 | €2,723 | -€14,228 | -83.9% |
| Other operating charges | 640/8 | €2,232 | €2,303 | +€71 | +3.2% |
| Gross operating margin | 9900 | €140,895 | €176,225 | +€35,330 | +25.1% |
| Operating profit (loss) | 9901 | -€21,871 | €11,898 | +€33,769 | |
| Financial income | 75/76B | €76 | €18 | -€57 | -75.8% |
| Recurring financial income | 75 | €76 | €18 | -€57 | -75.8% |
| Financial charges | 65/66B | €1,528 | €1,880 | +€351 | +23.0% |
| Recurring financial charges | 65 | €1,528 | €1,880 | +€351 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,323 | €10,037 | +€33,360 | |
| Income taxes | 67/77 | €229 | €1,147 | +€918 | +401% |
| Profit (loss) for the period | 9904 | -€23,553 | €8,889 | +€32,442 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,553 | €8,889 | +€32,442 |
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 20 October 2026 via checked.be.