STECO: 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.
STECO
Largest movements
- Cash -€32,966
down €32,966 (-21.9%), from €150,480 to €117,514
mainly Net result for the year (-€15,839) and Deferred charges and accrued income (-€11,678)
- Deferred charges and accrued income +€11,678
new in 2025: €11,678
- Reserves -€15,839
down €15,839 (-2.7%), from €582,917 to €567,079
of which Distributable reserves: -€15,839
- Gross operating margin -€156,444
down €156,444, from €145,443 to -€11,001
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 | €654,367 | €633,079 | -€21,288 | -3.3% |
| Fixed assets | 21/28 | €20,044 | €20,044 | = | 0.0% |
| Tangible fixed assets | 22/27 | €20,044 | €20,044 | = | 0.0% |
| Land and buildings | 22 | €20,044 | €20,044 | = | 0.0% |
| Current assets | 29/58 | €634,323 | €613,035 | -€21,288 | -3.4% |
| Amounts receivable within one year | 40/41 | €483,843 | €483,843 | = | 0.0% |
| Other amounts receivable | 41 | €483,843 | €483,843 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €150,480 | €117,514 | -€32,966 | -21.9% |
| Deferred charges and accrued income | 490/1 | - | €11,678 | +€11,678 | |
| Total equity and liabilities | 10/49 | €654,367 | €633,079 | -€21,288 | -3.3% |
| Equity | 10/15 | €644,917 | €629,079 | -€15,839 | -2.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €582,917 | €567,079 | -€15,839 | -2.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €576,717 | €560,879 | -€15,839 | -2.7% |
| Amounts payable | 17/49 | €9,449 | €4,000 | -€5,449 | -57.7% |
| Amounts payable within one year | 42/48 | €9,449 | €4,000 | -€5,449 | -57.7% |
| Trade debts | 44 | €5,449 | €0 | -€5,449 | -100.0% |
| Suppliers | 440/4 | €5,449 | €0 | -€5,449 | -100.0% |
| Other amounts payable | 47/48 | €4,000 | €4,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €5,524 | €4,769 | -€755 | -13.7% |
| Gross operating margin | 9900 | €145,443 | -€11,001 | -€156,444 | |
| Operating profit (loss) | 9901 | €139,919 | -€15,769 | -€155,688 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €50 | €69 | +€20 | +40.3% |
| Recurring financial charges | 65 | €50 | €69 | +€20 | +40.3% |
| Profit (loss) for the period before taxes | 9903 | €139,869 | -€15,839 | -€155,708 | |
| Profit (loss) for the period | 9904 | €139,869 | -€15,839 | -€155,708 | |
| Profit (loss) for the period to be appropriated | 9905 | €139,869 | -€15,839 | -€155,708 |
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 8 October 2026 via checked.be.