STECH: 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.
STECH
Largest movements
- Cash +€57,142
up €57,142 (+35.6%), from €160,502 to €217,644
mainly Other debts (+€124,047) and Net result for the year (+€59,455)
- Tangible fixed assets -€15,408
down €15,408 (-29.0%), from €53,217 to €37,809
of which Leasing and similar rights: -€14,163
- Other debts +€124,047
up €124,047 (+877%), from €14,137 to €138,184
- Reserves -€70,545
down €70,545 (-52.3%), from €134,784 to €64,239
of which Distributable reserves: -€70,545
- Debts after one year -€14,576
down €14,576 (-39.8%), from €36,597 to €22,021
- Trade debts -€8,533
down €8,533 (-95.9%), from €8,901 to €367
- Contributions +€6,200
up €6,200 (+50.0%), from €12,400 to €18,600
- Gross operating margin +€18,812
up €18,812 (+24.8%), from €75,943 to €94,755
- Taxes +€3,418
up €3,418 (+27.6%), from €12,397 to €15,815
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 | €238,179 | €279,469 | +€41,290 | +17.3% |
| Fixed assets | 21/28 | €53,217 | €37,809 | -€15,408 | -29.0% |
| Tangible fixed assets | 22/27 | €53,217 | €37,809 | -€15,408 | -29.0% |
| Plant, machinery and equipment | 23 | €1,846 | €1,573 | -€273 | -14.8% |
| Furniture and vehicles | 24 | €4,498 | €3,526 | -€972 | -21.6% |
| Leasing and similar rights | 25 | €46,873 | €32,710 | -€14,163 | -30.2% |
| Current assets | 29/58 | €184,962 | €241,660 | +€56,698 | +30.7% |
| Amounts receivable within one year | 40/41 | €24,069 | €23,590 | -€479 | -2.0% |
| Trade receivables | 40 | €24,027 | €23,548 | -€479 | -2.0% |
| Other amounts receivable | 41 | €42 | €42 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €160,502 | €217,644 | +€57,142 | +35.6% |
| Deferred charges and accrued income | 490/1 | €391 | €426 | +€35 | +8.9% |
| Total equity and liabilities | 10/49 | €238,179 | €279,469 | +€41,290 | +17.3% |
| Equity | 10/15 | €147,184 | €82,839 | -€64,345 | -43.7% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €134,784 | €64,239 | -€70,545 | -52.3% |
| Non-distributable reserves | 130/1 | €1,698 | €1,698 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,698 | €1,698 | = | 0.0% |
| Distributable reserves | 133 | €133,086 | €62,541 | -€70,545 | -53.0% |
| Amounts payable | 17/49 | €90,996 | €196,630 | +€105,634 | +116% |
| Amounts payable after more than one year | 17 | €36,597 | €22,021 | -€14,576 | -39.8% |
| Financial debts | 170/4 | €36,597 | €22,021 | -€14,576 | -39.8% |
| Amounts payable within one year | 42/48 | €54,398 | €174,609 | +€120,210 | +221% |
| Current portion of amounts payable after more than one year | 42 | €13,997 | €14,576 | +€579 | +4.1% |
| Trade debts | 44 | €8,901 | €367 | -€8,533 | -95.9% |
| Suppliers | 440/4 | €8,901 | €367 | -€8,533 | -95.9% |
| Taxes, remuneration and social security | 45 | €17,363 | €21,481 | +€4,118 | +23.7% |
| Taxes | 450/3 | €15,148 | €19,225 | +€4,077 | +26.9% |
| Remuneration and social security | 454/9 | €2,215 | €2,256 | +€40 | +1.8% |
| Other amounts payable | 47/48 | €14,137 | €138,184 | +€124,047 | +877% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,800 | €15,408 | +€608 | +4.1% |
| Other operating charges | 640/8 | €1,711 | €2,065 | +€353 | +20.6% |
| Gross operating margin | 9900 | €75,943 | €94,755 | +€18,812 | +24.8% |
| Operating profit (loss) | 9901 | €59,432 | €77,282 | +€17,850 | +30.0% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €1,384 | €2,012 | +€628 | +45.4% |
| Recurring financial charges | 65 | €1,384 | €2,012 | +€628 | +45.4% |
| Profit (loss) for the period before taxes | 9903 | €58,053 | €75,270 | +€17,217 | +29.7% |
| Income taxes | 67/77 | €12,397 | €15,815 | +€3,418 | +27.6% |
| Profit (loss) for the period | 9904 | €45,657 | €59,455 | +€13,799 | +30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,657 | €59,455 | +€13,799 | +30.2% |
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 18 October 2026 via checked.be.