STECI: 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.
STECI
Largest movements
- Cash +€80,294
up €80,294 (+71.1%), from €112,909 to €193,203
mainly Other debts (+€159,619) and Net result for the year (+€102,924)
- Current investments +€16,850
up €16,850 (+1,685%), from €1,000 to €17,850
- Tangible fixed assets -€16,198
down €16,198 (-5.5%), from €292,388 to €276,190
of which Land and buildings: -€10,888
- Other debts +€159,619
up €159,619 (+371%), from €43,006 to €202,625
- Reserves -€57,079
down €57,079 (-100%), from €57,079 to €0
- Debts after one year -€29,764
down €29,764 (-13.6%), from €218,980 to €189,216
- Tax, wage and social debts +€9,329
up €9,329 (+37.6%), from €24,835 to €34,164
of which Taxes: +€8,952
- Staff costs +€30,852
up €30,852 (+35.8%), from €86,093 to €116,945
- Gross operating margin +€19,164
up €19,164 (+7.2%), from €265,224 to €284,389
- Taxes +€4,330
up €4,330 (+13.3%), from €32,470 to €36,800
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 | €424,514 | €508,984 | +€84,470 | +19.9% |
| Fixed assets | 21/28 | €306,046 | €284,847 | -€21,198 | -6.9% |
| Intangible fixed assets | 21 | €13,658 | €8,658 | -€5,000 | -36.6% |
| Tangible fixed assets | 22/27 | €292,388 | €276,190 | -€16,198 | -5.5% |
| Land and buildings | 22 | €261,988 | €251,101 | -€10,888 | -4.2% |
| Plant, machinery and equipment | 23 | €28,768 | €24,265 | -€4,504 | -15.7% |
| Furniture and vehicles | 24 | €1,631 | €825 | -€806 | -49.4% |
| Current assets | 29/58 | €118,469 | €224,136 | +€105,668 | +89.2% |
| Stocks and contracts in progress | 3 | €2,670 | €5,129 | +€2,459 | +92.1% |
| Stocks | 30/36 | €2,670 | €5,129 | +€2,459 | +92.1% |
| Amounts receivable within one year | 40/41 | €522 | €1,683 | +€1,161 | +222% |
| Trade receivables | 40 | €468 | €193 | -€275 | -58.8% |
| Other amounts receivable | 41 | €54 | €1,490 | +€1,436 | +2,657% |
| Current investments | 50/53 | €1,000 | €17,850 | +€16,850 | +1,685% |
| Cash at bank and in hand | 54/58 | €112,909 | €193,203 | +€80,294 | +71.1% |
| Deferred charges and accrued income | 490/1 | €1,368 | €6,272 | +€4,904 | +359% |
| Total equity and liabilities | 10/49 | €424,514 | €508,984 | +€84,470 | +19.9% |
| Equity | 10/15 | €81,079 | €24,000 | -€57,079 | -70.4% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €57,079 | €0 | -€57,079 | -100% |
| Distributable reserves | 133 | €57,079 | €0 | -€57,079 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €343,435 | €484,984 | +€141,549 | +41.2% |
| Amounts payable after more than one year | 17 | €218,980 | €189,216 | -€29,764 | -13.6% |
| Financial debts | 170/4 | €218,980 | €189,216 | -€29,764 | -13.6% |
| Amounts payable within one year | 42/48 | €124,456 | €295,001 | +€170,545 | +137% |
| Current portion of amounts payable after more than one year | 42 | €29,440 | €29,764 | +€324 | +1.1% |
| Financial debts | 43 | €5,970 | €8,459 | +€2,490 | +41.7% |
| Other loans | 439 | €5,970 | €8,459 | +€2,490 | +41.7% |
| Trade debts | 44 | €21,206 | €19,989 | -€1,217 | -5.7% |
| Suppliers | 440/4 | €21,206 | €19,989 | -€1,217 | -5.7% |
| Taxes, remuneration and social security | 45 | €24,835 | €34,164 | +€9,329 | +37.6% |
| Taxes | 450/3 | €10,080 | €19,032 | +€8,952 | +88.8% |
| Remuneration and social security | 454/9 | €14,755 | €15,132 | +€377 | +2.6% |
| Other amounts payable | 47/48 | €43,006 | €202,625 | +€159,619 | +371% |
| Accrued charges and deferred income | 492/3 | - | €768 | +€768 | |
| Non-recurring operating income | 76A | €7,550 | €0 | -€7,550 | -100% |
| Remuneration, social security and pensions | 62 | €86,093 | €116,945 | +€30,852 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,687 | €22,801 | +€114 | +0.5% |
| Other operating charges | 640/8 | €4,007 | €3,001 | -€1,006 | -25.1% |
| Gross operating margin | 9900 | €265,224 | €284,389 | +€19,164 | +7.2% |
| Operating profit (loss) | 9901 | €152,438 | €141,641 | -€10,796 | -7.1% |
| Financial income | 75/76B | €2,121 | €2,651 | +€529 | +25.0% |
| Recurring financial income | 75 | €2,121 | €2,651 | +€529 | +25.0% |
| Financial charges | 65/66B | €3,640 | €4,568 | +€928 | +25.5% |
| Recurring financial charges | 65 | €3,640 | €4,568 | +€928 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €150,919 | €139,724 | -€11,195 | -7.4% |
| Income taxes | 67/77 | €32,470 | €36,800 | +€4,330 | +13.3% |
| Profit (loss) for the period | 9904 | €118,448 | €102,924 | -€15,525 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €118,448 | €102,924 | -€15,525 | -13.1% |
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 21 October 2026 via checked.be.