STECO PROJECTS: 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.
STECO PROJECTS
Largest movements
- Cash +€300,473
up €300,473 (+373%), from €80,614 to €381,087
mainly Current investments (+€200,000) and Net result for the year (+€70,817)
- Current investments -€200,000
down €200,000 (-57.2%), from €349,518 to €149,518
- Stocks and contracts -€50,263
down €50,263 (-54.1%), from €92,845 to €42,582
- Tangible fixed assets -€21,522
down €21,522 (-9.8%), from €219,674 to €198,153
of which Land and buildings: -€13,823
- Receivables within one year +€20,342
up €20,342 (+55.4%), from €36,713 to €57,055
of which Trade receivables: +€32,061
- Reserves +€70,817
up €70,817 (+12.7%), from €556,407 to €627,224
- Debts after one year -€14,800
down €14,800 (-14.8%), from €99,664 to €84,864
- Tax, wage and social debts -€11,141
down €11,141 (-44.5%), from €25,022 to €13,880
of which Taxes: -€8,780
- Trade debts +€10,212
up €10,212 (+14.7%), from €69,506 to €79,718
- Gross operating margin +€8,263
up €8,263 (+6.4%), from €128,269 to €136,532
- Taxes +€4,807
up €4,807 (+21.0%), from €22,863 to €27,670
- Depreciation -€4,128
down €4,128 (-16.1%), from €25,650 to €21,522
- Financial income +€2,572
up €2,572 (+28.7%), from €8,949 to €11,521
- Financial charges -€2,163
down €2,163 (-62.6%), from €3,455 to €1,291
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 | €782,832 | €833,960 | +€51,128 | +6.5% |
| Fixed assets | 21/28 | €219,674 | €198,153 | -€21,522 | -9.8% |
| Tangible fixed assets | 22/27 | €219,674 | €198,153 | -€21,522 | -9.8% |
| Land and buildings | 22 | €189,072 | €175,248 | -€13,823 | -7.3% |
| Plant, machinery and equipment | 23 | €1,541 | €1,017 | -€525 | -34.0% |
| Furniture and vehicles | 24 | €29,061 | €21,887 | -€7,173 | -24.7% |
| Current assets | 29/58 | €563,158 | €635,808 | +€72,649 | +12.9% |
| Stocks and contracts in progress | 3 | €92,845 | €42,582 | -€50,263 | -54.1% |
| Stocks | 30/36 | €92,845 | €42,582 | -€50,263 | -54.1% |
| Amounts receivable within one year | 40/41 | €36,713 | €57,055 | +€20,342 | +55.4% |
| Trade receivables | 40 | €19,498 | €51,560 | +€32,061 | +164% |
| Other amounts receivable | 41 | €17,215 | €5,495 | -€11,720 | -68.1% |
| Current investments | 50/53 | €349,518 | €149,518 | -€200,000 | -57.2% |
| Cash at bank and in hand | 54/58 | €80,614 | €381,087 | +€300,473 | +373% |
| Deferred charges and accrued income | 490/1 | €3,469 | €5,566 | +€2,097 | +60.5% |
| Total equity and liabilities | 10/49 | €782,832 | €833,960 | +€51,128 | +6.5% |
| Equity | 10/15 | €568,807 | €639,624 | +€70,817 | +12.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €556,407 | €627,224 | +€70,817 | +12.7% |
| Distributable reserves | 133 | €556,407 | €627,224 | +€70,817 | +12.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €214,025 | €194,336 | -€19,689 | -9.2% |
| Amounts payable after more than one year | 17 | €99,664 | €84,864 | -€14,800 | -14.8% |
| Financial debts | 170/4 | €99,664 | €84,864 | -€14,800 | -14.8% |
| Amounts payable within one year | 42/48 | €114,361 | €109,472 | -€4,889 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €14,612 | €14,800 | +€188 | +1.3% |
| Financial debts | 43 | €319 | €180 | -€139 | -43.6% |
| Credit institutions | 430/8 | €319 | €180 | -€139 | -43.6% |
| Trade debts | 44 | €69,506 | €79,718 | +€10,212 | +14.7% |
| Suppliers | 440/4 | €69,506 | €79,718 | +€10,212 | +14.7% |
| Advances received on contracts in progress | 46 | €4,055 | €0 | -€4,055 | -100% |
| Taxes, remuneration and social security | 45 | €25,022 | €13,880 | -€11,141 | -44.5% |
| Taxes | 450/3 | €18,911 | €10,131 | -€8,780 | -46.4% |
| Remuneration and social security | 454/9 | €6,111 | €3,749 | -€2,362 | -38.6% |
| Other amounts payable | 47/48 | €846 | €893 | +€47 | +5.5% |
| Non-recurring operating income | 76A | €0 | €2,599 | +€2,599 | |
| Remuneration, social security and pensions | 62 | €24,088 | €24,851 | +€764 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,650 | €21,522 | -€4,128 | -16.1% |
| Other operating charges | 640/8 | €2,171 | €1,902 | -€269 | -12.4% |
| Gross operating margin | 9900 | €128,269 | €136,532 | +€8,263 | +6.4% |
| Operating profit (loss) | 9901 | €76,360 | €88,257 | +€11,897 | +15.6% |
| Financial income | 75/76B | €8,949 | €11,521 | +€2,572 | +28.7% |
| Recurring financial income | 75 | €8,949 | €11,521 | +€2,572 | +28.7% |
| Financial charges | 65/66B | €3,455 | €1,291 | -€2,163 | -62.6% |
| Recurring financial charges | 65 | €3,455 | €1,291 | -€2,163 | -62.6% |
| Profit (loss) for the period before taxes | 9903 | €81,854 | €98,487 | +€16,632 | +20.3% |
| Income taxes | 67/77 | €22,863 | €27,670 | +€4,807 | +21.0% |
| Profit (loss) for the period | 9904 | €58,991 | €70,817 | +€11,826 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,991 | €70,817 | +€11,826 | +20.0% |
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 13 October 2026 via checked.be.