STECOR FINANCE: 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.
STECOR FINANCE
Largest movements
- Deferred charges and accrued income +€126,651
up €126,651 (+47.3%), from €267,616 to €394,267
- Intangible fixed assets -€119,699
down €119,699 (-11.8%), from €1.0m to €898,236
- Cash -€60,254
down €60,254 (-32.8%), from €183,947 to €123,693
mainly Debts after one year (-€351,325) and Contributions, distributions and other (-€300,000)
- Debts after one year -€351,325
down €351,325 (-53.6%), from €655,032 to €303,706
- Other debts +€298,982
up €298,982 (+99.6%), from €300,090 to €599,072
- Reserves +€131,927
up €131,927 (+50.8%), from €259,868 to €391,796
- Tax, wage and social debts -€92,120
down €92,120 (-73.3%), from €125,590 to €33,470
of which Taxes: -€94,376
- Current portion of long-term debt -€50,828
down €50,828 (-39.5%), from €128,539 to €77,712
- Gross operating margin +€67,607
up €67,607 (+8.0%), from €848,665 to €916,273
- Staff costs -€22,553
down €22,553 (-7.1%), from €317,459 to €294,906
- Financial charges -€10,394
down €10,394 (-27.7%), from €37,475 to €27,081
- Taxes +€10,185
up €10,185 (+42.2%), from €24,111 to €34,296
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 | €1,500,544 | €1,440,314 | -€60,230 | -4.0% |
| Fixed assets | 21/28 | €1,042,236 | €915,537 | -€126,699 | -12.2% |
| Intangible fixed assets | 21 | €1,017,935 | €898,236 | -€119,699 | -11.8% |
| Tangible fixed assets | 22/27 | €24,301 | €17,301 | -€7,000 | -28.8% |
| Furniture and vehicles | 24 | €24,301 | €17,301 | -€7,000 | -28.8% |
| Current assets | 29/58 | €458,308 | €524,777 | +€66,469 | +14.5% |
| Amounts receivable within one year | 40/41 | €6,745 | €6,816 | +€72 | +1.1% |
| Other amounts receivable | 41 | €6,745 | €6,816 | +€72 | +1.1% |
| Cash at bank and in hand | 54/58 | €183,947 | €123,693 | -€60,254 | -32.8% |
| Deferred charges and accrued income | 490/1 | €267,616 | €394,267 | +€126,651 | +47.3% |
| Total equity and liabilities | 10/49 | €1,500,544 | €1,440,314 | -€60,230 | -4.0% |
| Equity | 10/15 | €274,868 | €406,796 | +€131,927 | +48.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €259,868 | €391,796 | +€131,927 | +50.8% |
| Distributable reserves | 133 | €259,868 | €391,796 | +€131,927 | +50.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,225,676 | €1,033,518 | -€192,157 | -15.7% |
| Amounts payable after more than one year | 17 | €655,032 | €303,706 | -€351,325 | -53.6% |
| Financial debts | 170/4 | €655,032 | €303,706 | -€351,325 | -53.6% |
| Amounts payable within one year | 42/48 | €570,644 | €729,265 | +€158,621 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €128,539 | €77,712 | -€50,828 | -39.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €16,424 | €19,011 | +€2,587 | +15.7% |
| Suppliers | 440/4 | €16,424 | €19,011 | +€2,587 | +15.7% |
| Taxes, remuneration and social security | 45 | €125,590 | €33,470 | -€92,120 | -73.3% |
| Taxes | 450/3 | €98,761 | €4,384 | -€94,376 | -95.6% |
| Remuneration and social security | 454/9 | €26,829 | €29,086 | +€2,256 | +8.4% |
| Other amounts payable | 47/48 | €300,090 | €599,072 | +€298,982 | +99.6% |
| Accrued charges and deferred income | 492/3 | - | €547 | +€547 | |
| Remuneration, social security and pensions | 62 | €317,459 | €294,906 | -€22,553 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,699 | €126,699 | = | 0.0% |
| Other operating charges | 640/8 | €1,492 | €2,097 | +€604 | +40.5% |
| Non-recurring operating charges | 66A | €752 | €0 | -€752 | -100% |
| Gross operating margin | 9900 | €848,665 | €916,273 | +€67,607 | +8.0% |
| Operating profit (loss) | 9901 | €402,263 | €492,571 | +€90,308 | +22.4% |
| Financial income | 75/76B | €1,586 | €733 | -€853 | -53.8% |
| Recurring financial income | 75 | €1,586 | €733 | -€853 | -53.8% |
| Financial charges | 65/66B | €37,475 | €27,081 | -€10,394 | -27.7% |
| Recurring financial charges | 65 | €37,475 | €27,081 | -€10,394 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €366,374 | €466,223 | +€99,849 | +27.3% |
| Income taxes | 67/77 | €24,111 | €34,296 | +€10,185 | +42.2% |
| Profit (loss) for the period | 9904 | €342,263 | €431,927 | +€89,664 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €342,263 | €431,927 | +€89,664 | +26.2% |
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 31 October 2026 via checked.be.