STEBERT: 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.
STEBERT
Largest movements
- Receivables within one year +€15,714
up €15,714 (+16.9%), from €93,006 to €108,720
of which Trade receivables: +€25,722
- Cash -€14,534
down €14,534 (-63.0%), from €23,066 to €8,532
mainly Contributions, distributions and other (-€55,545) and Trade debts (-€16,825)
- Deferred charges and accrued income -€5,004
down €5,004 (-35.5%), from €14,099 to €9,096
- Tangible fixed assets -€2,631
down €2,631 (-52.2%), from €5,037 to €2,406
of which Plant, machinery and equipment: -€2,631
- Trade debts -€16,825
down €16,825 (-29.6%), from €56,789 to €39,964
- Other debts +€7,918
up €7,918 (+12.3%), from €64,533 to €72,451
- Tax, wage and social debts +€2,452
up €2,452 (+163%), from €1,500 to €3,952
of which Taxes: +€1,602
- Gross operating margin +€52,264
up €52,264 (+199%), from €26,313 to €78,577
- Taxes +€14,502
up €14,502 (+315%), from €4,600 to €19,102
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 | €141,422 | €134,966 | -€6,455 | -4.6% |
| Fixed assets | 21/28 | €11,250 | €8,618 | -€2,631 | -23.4% |
| Tangible fixed assets | 22/27 | €5,037 | €2,406 | -€2,631 | -52.2% |
| Plant, machinery and equipment | 23 | €5,037 | €2,406 | -€2,631 | -52.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €6,213 | €6,213 | = | 0.0% |
| Current assets | 29/58 | €130,172 | €126,348 | -€3,824 | -2.9% |
| Amounts receivable within one year | 40/41 | €93,006 | €108,720 | +€15,714 | +16.9% |
| Trade receivables | 40 | €77,222 | €102,943 | +€25,722 | +33.3% |
| Other amounts receivable | 41 | €15,784 | €5,777 | -€10,008 | -63.4% |
| Cash at bank and in hand | 54/58 | €23,066 | €8,532 | -€14,534 | -63.0% |
| Deferred charges and accrued income | 490/1 | €14,099 | €9,096 | -€5,004 | -35.5% |
| Total equity and liabilities | 10/49 | €141,422 | €134,966 | -€6,455 | -4.6% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €122,822 | €116,366 | -€6,455 | -5.3% |
| Amounts payable within one year | 42/48 | €122,822 | €116,366 | -€6,455 | -5.3% |
| Trade debts | 44 | €56,789 | €39,964 | -€16,825 | -29.6% |
| Suppliers | 440/4 | €56,789 | €39,964 | -€16,825 | -29.6% |
| Taxes, remuneration and social security | 45 | €1,500 | €3,952 | +€2,452 | +163% |
| Taxes | 450/3 | €1,500 | €3,102 | +€1,602 | +107% |
| Remuneration and social security | 454/9 | €0 | €850 | +€850 | |
| Other amounts payable | 47/48 | €64,533 | €72,451 | +€7,918 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,237 | €2,631 | +€395 | +17.6% |
| Other operating charges | 640/8 | €558 | €1,208 | +€650 | +117% |
| Gross operating margin | 9900 | €26,313 | €78,577 | +€52,264 | +199% |
| Operating profit (loss) | 9901 | €23,518 | €74,737 | +€51,219 | +218% |
| Financial charges | 65/66B | €90 | €90 | = | 0.0% |
| Recurring financial charges | 65 | €90 | €90 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €23,428 | €74,647 | +€51,219 | +219% |
| Income taxes | 67/77 | €4,600 | €19,102 | +€14,502 | +315% |
| Profit (loss) for the period | 9904 | €18,829 | €55,545 | +€36,717 | +195% |
| Profit (loss) for the period to be appropriated | 9905 | €18,829 | €55,545 | +€36,717 | +195% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.