STEBOUW: 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.
STEBOUW
Largest movements
- Receivables within one year +€224,574
up €224,574 (+190.7%), from €117,747 to €342,321
of which Trade receivables: +€278,909
- Tangible fixed assets +€57,603
up €57,603 (+1402.9%), from €4,106 to €61,709
- Cash -€9,486
down €9,486 (-66.2%), from €14,335 to €4,849
mainly Receivables within one year (-€224,574) and Investment in fixed assets (net) (-€73,421)
- Financial fixed assets +€7,500
up €7,500 (+710.2%), from €1,056 to €8,556
- Trade debts +€129,047
up €129,047 (+185.8%), from €69,463 to €198,510
- Profit (loss) carried forward +€53,639
up €53,639 (+9831.9%), from €546 to €54,185
- Debts after one year +€30,404
new in 2025: €30,404
- Reserves +€30,000
up €30,000 (+72.3%), from €41,500 to €71,500
- Tax, wage and social debts +€29,966
up €29,966 (+137.6%), from €21,775 to €51,741
- Gross operating margin +€58,907
up €58,907 (+87.7%), from €67,143 to €126,050
- Taxes +€8,192
up €8,192 (+37.6%), from €21,775 to €29,966
- Depreciation +€6,744
up €6,744 (+428.6%), from €1,573 to €8,318
- Other operating charges +€1,965
up €1,965 (+118.8%), from €1,654 to €3,619
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 | €137,283 | €417,756 | +€280,473 | +204.3% |
| Fixed assets | 21/28 | €5,162 | €70,265 | +€65,103 | +1261.2% |
| Tangible fixed assets | 22/27 | €4,106 | €61,709 | +€57,603 | +1402.9% |
| Furniture and vehicles | 24 | €4,106 | €61,709 | +€57,603 | +1402.9% |
| Financial fixed assets | 28 | €1,056 | €8,556 | +€7,500 | +710.2% |
| Current assets | 29/58 | €132,121 | €347,491 | +€215,370 | +163.0% |
| Amounts receivable within one year | 40/41 | €117,747 | €342,321 | +€224,574 | +190.7% |
| Trade receivables | 40 | €20,815 | €299,724 | +€278,909 | +1339.9% |
| Other amounts receivable | 41 | €96,932 | €42,597 | -€54,335 | -56.1% |
| Cash at bank and in hand | 54/58 | €14,335 | €4,849 | -€9,486 | -66.2% |
| Deferred charges and accrued income | 490/1 | €39 | €321 | +€282 | +715.2% |
| Total equity and liabilities | 10/49 | €137,283 | €417,756 | +€280,473 | +204.3% |
| Equity | 10/15 | €46,046 | €129,685 | +€83,639 | +181.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €41,500 | €71,500 | +€30,000 | +72.3% |
| Distributable reserves | 133 | €41,500 | €71,500 | +€30,000 | +72.3% |
| Profit (loss) carried forward | 14 | €546 | €54,185 | +€53,639 | +9831.9% |
| Amounts payable | 17/49 | €91,237 | €288,071 | +€196,834 | +215.7% |
| Amounts payable after more than one year | 17 | - | €30,404 | +€30,404 | |
| Financial debts | 170/4 | - | €30,404 | +€30,404 | |
| Amounts payable within one year | 42/48 | €91,237 | €257,667 | +€166,429 | +182.4% |
| Current portion of amounts payable after more than one year | 42 | - | €7,416 | +€7,416 | |
| Trade debts | 44 | €69,463 | €198,510 | +€129,047 | +185.8% |
| Suppliers | 440/4 | €69,463 | €198,510 | +€129,047 | +185.8% |
| Taxes, remuneration and social security | 45 | €21,775 | €51,741 | +€29,966 | +137.6% |
| Taxes | 450/3 | €21,775 | €51,741 | +€29,966 | +137.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,573 | €8,318 | +€6,744 | +428.6% |
| Other operating charges | 640/8 | €1,654 | €3,619 | +€1,965 | +118.8% |
| Gross operating margin | 9900 | €67,143 | €126,050 | +€58,907 | +87.7% |
| Operating profit (loss) | 9901 | €63,916 | €114,113 | +€50,197 | +78.5% |
| Financial income | 75/76B | €1,304 | €1,907 | +€603 | +46.2% |
| Recurring financial income | 75 | €1,304 | €1,907 | +€603 | +46.2% |
| Financial charges | 65/66B | €1,400 | €2,414 | +€1,015 | +72.5% |
| Recurring financial charges | 65 | €1,400 | €2,414 | +€1,015 | +72.5% |
| Profit (loss) for the period before taxes | 9903 | €63,820 | €113,605 | +€49,785 | +78.0% |
| Income taxes | 67/77 | €21,775 | €29,966 | +€8,192 | +37.6% |
| Profit (loss) for the period | 9904 | €42,046 | €83,639 | +€41,593 | +98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,046 | €83,639 | +€41,593 | +98.9% |
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 1 October 2026 via checked.be.