STEBARO: 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.
STEBARO
Largest movements
- Tangible fixed assets +€108,271
up €108,271 (+25.9%), from €418,640 to €526,910
of which Land and buildings: +€77,670
- Cash -€90,038
down €90,038 (-58.5%), from €153,807 to €63,769
mainly Investment in fixed assets (net) (-€133,390) and Other debts (-€15,000)
- Current investments -€43,700
down €43,700 (-25.3%), from €172,763 to €129,063
- Debts after one year +€18,353
up €18,353 (+13.3%), from €138,021 to €156,374
- Other debts -€15,000
down €15,000 (-100.0%), from €15,000 to €0
- Trade debts -€14,985
down €14,985 (-74.9%), from €20,001 to €5,016
- Gross operating margin -€38,120
down €38,120 (-48.7%), from €78,242 to €40,122
- Depreciation -€14,284
down €14,284 (-36.3%), from €39,404 to €25,119
- Financial income -€6,891
down €6,891 (-46.3%), from €14,893 to €8,002
- Taxes -€3,315
down €3,315 (-100.0%), from €3,315 to €0
- Financial charges +€1,494
up €1,494 (+29.1%), from €5,136 to €6,630
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 | €785,548 | €756,878 | -€28,670 | -3.6% |
| Fixed assets | 21/28 | €418,640 | €526,910 | +€108,271 | +25.9% |
| Tangible fixed assets | 22/27 | €418,640 | €526,910 | +€108,271 | +25.9% |
| Land and buildings | 22 | €398,297 | €475,967 | +€77,670 | +19.5% |
| Plant, machinery and equipment | 23 | €17,551 | €10,678 | -€6,872 | -39.2% |
| Furniture and vehicles | 24 | €2,792 | €40,265 | +€37,473 | +1342.2% |
| Current assets | 29/58 | €366,908 | €229,968 | -€136,940 | -37.3% |
| Stocks and contracts in progress | 3 | €16,592 | €13,500 | -€3,092 | -18.6% |
| Stocks | 30/36 | €16,592 | €13,500 | -€3,092 | -18.6% |
| Amounts receivable within one year | 40/41 | €23,403 | €20,445 | -€2,957 | -12.6% |
| Trade receivables | 40 | €8,449 | €388 | -€8,061 | -95.4% |
| Other amounts receivable | 41 | €14,953 | €20,057 | +€5,104 | +34.1% |
| Current investments | 50/53 | €172,763 | €129,063 | -€43,700 | -25.3% |
| Cash at bank and in hand | 54/58 | €153,807 | €63,769 | -€90,038 | -58.5% |
| Deferred charges and accrued income | 490/1 | €344 | €3,190 | +€2,846 | +827.8% |
| Total equity and liabilities | 10/49 | €785,548 | €756,878 | -€28,670 | -3.6% |
| Equity | 10/15 | €580,596 | €573,967 | -€6,628 | -1.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €85,847 | €85,847 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,650 | €14,650 | = | 0.0% |
| Distributable reserves | 133 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €432,775 | €426,147 | -€6,628 | -1.5% |
| Amounts payable | 17/49 | €204,952 | €182,910 | -€22,042 | -10.8% |
| Amounts payable after more than one year | 17 | €138,021 | €156,374 | +€18,353 | +13.3% |
| Financial debts | 170/4 | €138,021 | €156,374 | +€18,353 | +13.3% |
| Amounts payable within one year | 42/48 | €66,931 | €26,536 | -€40,395 | -60.4% |
| Current portion of amounts payable after more than one year | 42 | €26,875 | €21,433 | -€5,443 | -20.3% |
| Financial debts | 43 | €5,000 | €0 | -€5,000 | -100.0% |
| Credit institutions | 430/8 | €5,000 | €0 | -€5,000 | -100.0% |
| Trade debts | 44 | €20,001 | €5,016 | -€14,985 | -74.9% |
| Suppliers | 440/4 | €20,001 | €5,016 | -€14,985 | -74.9% |
| Taxes, remuneration and social security | 45 | €55 | €88 | +€33 | +60.7% |
| Taxes | 450/3 | €55 | €88 | +€33 | +60.7% |
| Other amounts payable | 47/48 | €15,000 | €0 | -€15,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,404 | €25,119 | -€14,284 | -36.3% |
| Other operating charges | 640/8 | €22,409 | €23,003 | +€593 | +2.6% |
| Gross operating margin | 9900 | €78,242 | €40,122 | -€38,120 | -48.7% |
| Operating profit (loss) | 9901 | €16,429 | -€8,000 | -€24,429 | |
| Financial income | 75/76B | €14,893 | €8,002 | -€6,891 | -46.3% |
| Recurring financial income | 75 | €14,893 | €8,002 | -€6,891 | -46.3% |
| Financial charges | 65/66B | €5,136 | €6,630 | +€1,494 | +29.1% |
| Recurring financial charges | 65 | €5,136 | €6,630 | +€1,494 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €26,186 | -€6,628 | -€32,815 | |
| Income taxes | 67/77 | €3,315 | €0 | -€3,315 | -100.0% |
| Profit (loss) for the period | 9904 | €22,871 | -€6,628 | -€29,499 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,871 | -€6,628 | -€29,499 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.