stebra: 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.
stebra
Largest movements
- Cash +€85,278
up €85,278 (+60.0%), from €142,133 to €227,411
mainly Net result for the year (+€89,293) and Depreciation (+€13,724)
- Tangible fixed assets -€13,724
down €13,724 (-20.4%), from €67,271 to €53,546
- Reserves +€88,460
up €88,460 (+64.7%), from €136,724 to €225,184
- Tax, wage and social debts -€20,624
down €20,624 (-33.5%), from €61,476 to €40,851
- Gross operating margin -€78,212
down €78,212 (-35.6%), from €219,676 to €141,464
- Taxes -€22,036
down €22,036 (-38.2%), from €57,666 to €35,630
- Other operating charges -€20,431
down €20,431 (-88.7%), from €23,025 to €2,594
- Depreciation +€12,374
up €12,374 (+916.7%), from €1,350 to €13,724
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 | €221,983 | €291,814 | +€69,832 | +31.5% |
| Fixed assets | 21/28 | €67,271 | €53,546 | -€13,724 | -20.4% |
| Tangible fixed assets | 22/27 | €67,271 | €53,546 | -€13,724 | -20.4% |
| Furniture and vehicles | 24 | €67,271 | €53,546 | -€13,724 | -20.4% |
| Current assets | 29/58 | €154,712 | €238,268 | +€83,556 | +54.0% |
| Amounts receivable within one year | 40/41 | €9,680 | €10,027 | +€347 | +3.6% |
| Trade receivables | 40 | €9,680 | €10,027 | +€347 | +3.6% |
| Cash at bank and in hand | 54/58 | €142,133 | €227,411 | +€85,278 | +60.0% |
| Deferred charges and accrued income | 490/1 | €2,899 | €831 | -€2,069 | -71.3% |
| Total equity and liabilities | 10/49 | €221,983 | €291,814 | +€69,832 | +31.5% |
| Equity | 10/15 | €156,724 | €245,184 | +€88,460 | +56.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €136,724 | €225,184 | +€88,460 | +64.7% |
| Distributable reserves | 133 | €136,724 | €225,184 | +€88,460 | +64.7% |
| Amounts payable | 17/49 | €65,259 | €46,630 | -€18,629 | -28.5% |
| Amounts payable within one year | 42/48 | €65,259 | €46,630 | -€18,629 | -28.5% |
| Trade debts | 44 | €62 | €795 | +€733 | +1181.6% |
| Suppliers | 440/4 | €62 | €795 | +€733 | +1181.6% |
| Taxes, remuneration and social security | 45 | €61,476 | €40,851 | -€20,624 | -33.5% |
| Taxes | 450/3 | €61,476 | €40,851 | -€20,624 | -33.5% |
| Other amounts payable | 47/48 | €3,721 | €4,984 | +€1,263 | +33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,350 | €13,724 | +€12,374 | +916.7% |
| Other operating charges | 640/8 | €23,025 | €2,594 | -€20,431 | -88.7% |
| Gross operating margin | 9900 | €219,676 | €141,464 | -€78,212 | -35.6% |
| Operating profit (loss) | 9901 | €195,301 | €125,146 | -€70,156 | -35.9% |
| Financial charges | 65/66B | €53 | €222 | +€170 | +321.9% |
| Recurring financial charges | 65 | €53 | €43 | -€10 | -18.5% |
| Non-recurring financial charges | 66B | - | €179 | +€179 | |
| Profit (loss) for the period before taxes | 9903 | €195,249 | €124,923 | -€70,325 | -36.0% |
| Income taxes | 67/77 | €57,666 | €35,630 | -€22,036 | -38.2% |
| Profit (loss) for the period | 9904 | €137,583 | €89,293 | -€48,289 | -35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €137,583 | €89,293 | -€48,289 | -35.1% |
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 10 October 2026 via checked.be.