STECOM: 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.
STECOM
Largest movements
- Tangible fixed assets -€22,861
down €22,861 (-15.3%), from €149,847 to €126,986
of which Furniture and vehicles: -€38,727
- Cash -€3,569
down €3,569 (-63.2%), from €5,649 to €2,080
mainly Debts after one year (-€16,100) and Other debts (-€5,809)
- Receivables within one year +€2,706
up €2,706 (+9.5%), from €28,556 to €31,262
of which Trade receivables: +€9,920
- Debts after one year -€16,100
down €16,100 (-24.5%), from €65,599 to €49,499
of which Financial debts: -€16,100
- Other debts -€5,809
down €5,809 (-31.6%), from €18,373 to €12,564
- Trade debts -€5,200
down €5,200 (-14.9%), from €34,950 to €29,750
- Depreciation +€10,592
up €10,592 (+66.7%), from €15,886 to €26,478
- Gross operating margin -€4,364
down €4,364 (-10.2%), from €42,639 to €38,275
- Taxes -€2,155
down €2,155 (-61.2%), from €3,520 to €1,365
- Financial charges +€1,798
up €1,798 (+130.5%), from €1,379 to €3,177
- Other operating charges -€790
down €790 (-20.8%), from €3,793 to €3,004
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 | €188,725 | €164,490 | -€24,235 | -12.8% |
| Fixed assets | 21/28 | €149,847 | €126,986 | -€22,861 | -15.3% |
| Tangible fixed assets | 22/27 | €149,847 | €126,986 | -€22,861 | -15.3% |
| Land and buildings | 22 | €18,955 | €34,449 | +€15,494 | +81.7% |
| Plant, machinery and equipment | 23 | €33,717 | €34,089 | +€372 | +1.1% |
| Furniture and vehicles | 24 | €97,175 | €58,447 | -€38,727 | -39.9% |
| Current assets | 29/58 | €38,879 | €37,504 | -€1,374 | -3.5% |
| Amounts receivable within one year | 40/41 | €28,556 | €31,262 | +€2,706 | +9.5% |
| Trade receivables | 40 | €21,342 | €31,262 | +€9,920 | +46.5% |
| Other amounts receivable | 41 | €7,214 | - | -€7,214 | |
| Cash at bank and in hand | 54/58 | €5,649 | €2,080 | -€3,569 | -63.2% |
| Deferred charges and accrued income | 490/1 | €4,674 | €4,162 | -€512 | -11.0% |
| Total equity and liabilities | 10/49 | €188,725 | €164,490 | -€24,235 | -12.8% |
| Equity | 10/15 | €45,046 | €45,805 | +€758 | +1.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €35,046 | €35,805 | +€758 | +2.2% |
| Distributable reserves | 133 | €35,046 | €35,805 | +€758 | +2.2% |
| Amounts payable | 17/49 | €143,679 | €118,685 | -€24,994 | -17.4% |
| Amounts payable after more than one year | 17 | €65,599 | €49,499 | -€16,100 | -24.5% |
| Financial debts | 170/4 | €55,599 | €39,499 | -€16,100 | -29.0% |
| Other amounts payable | 178/9 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €78,080 | €69,187 | -€8,894 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €15,356 | €16,100 | +€745 | +4.8% |
| Trade debts | 44 | €34,950 | €29,750 | -€5,200 | -14.9% |
| Suppliers | 440/4 | €34,950 | €29,750 | -€5,200 | -14.9% |
| Taxes, remuneration and social security | 45 | €9,402 | €10,773 | +€1,371 | +14.6% |
| Taxes | 450/3 | €9,402 | €10,773 | +€1,371 | +14.6% |
| Other amounts payable | 47/48 | €18,373 | €12,564 | -€5,809 | -31.6% |
| Remuneration, social security and pensions | 62 | €1,879 | €2,015 | +€137 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,886 | €26,478 | +€10,592 | +66.7% |
| Other operating charges | 640/8 | €3,793 | €3,004 | -€790 | -20.8% |
| Non-recurring operating charges | 66A | - | €1,504 | +€1,504 | |
| Gross operating margin | 9900 | €42,639 | €38,275 | -€4,364 | -10.2% |
| Operating profit (loss) | 9901 | €21,081 | €5,274 | -€15,807 | -75.0% |
| Financial income | 75/76B | €138 | €26 | -€112 | -81.4% |
| Recurring financial income | 75 | €138 | €26 | -€112 | -81.4% |
| Financial charges | 65/66B | €1,379 | €3,177 | +€1,798 | +130.5% |
| Recurring financial charges | 65 | €1,379 | €3,177 | +€1,798 | +130.5% |
| Profit (loss) for the period before taxes | 9903 | €19,840 | €2,123 | -€17,717 | -89.3% |
| Income taxes | 67/77 | €3,520 | €1,365 | -€2,155 | -61.2% |
| Profit (loss) for the period | 9904 | €16,320 | €758 | -€15,562 | -95.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,320 | €758 | -€15,562 | -95.4% |
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 11 October 2026 via checked.be.