STECRI: 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.
STECRI
Largest movements
- Financial fixed assets -€3.2m
down €3.2m (-28.8%), from €11.2m to €8.0m
- Current investments +€2.6m
up €2.6m (+46.8%), from €5.6m to €8.2m
- Receivables within one year +€360,264
up €360,264 (+323%), from €111,459 to €471,723
of which Other amounts receivable: +€210,114
- Reserves +€4.1m
up €4.1m (+34.2%), from €11.9m to €16.0m
- Other debts -€3.8m
down €3.8m (-100%), from €3.8m to €0
- Trade debts -€575,421
down €575,421 (-69.5%), from €828,446 to €253,024
- Gross operating margin +€1.2m
up €1.2m (+33.6%), from €3.6m to €4.8m
- Financial income +€872,599
up €872,599 (+259%), from €336,875 to €1.2m
- Taxes +€416,418
up €416,418 (+36.6%), from €1.1m to €1.6m
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 | €17,201,301 | €17,021,980 | -€179,321 | -1.0% |
| Fixed assets | 21/28 | €11,336,966 | €8,189,646 | -€3.1m | -27.8% |
| Tangible fixed assets | 22/27 | €167,275 | €239,561 | +€72,286 | +43.2% |
| Land and buildings | 22 | €164,784 | €136,049 | -€28,734 | -17.4% |
| Furniture and vehicles | 24 | €2,491 | €103,511 | +€101,020 | +4,055% |
| Financial fixed assets | 28 | €11,169,691 | €7,950,085 | -€3.2m | -28.8% |
| Current assets | 29/58 | €5,864,335 | €8,832,334 | +€3.0m | +50.6% |
| Amounts receivable within one year | 40/41 | €111,459 | €471,723 | +€360,264 | +323% |
| Trade receivables | 40 | €106,297 | €256,447 | +€150,150 | +141% |
| Other amounts receivable | 41 | €5,163 | €215,276 | +€210,114 | +4,070% |
| Current investments | 50/53 | €5,554,899 | €8,155,980 | +€2.6m | +46.8% |
| Cash at bank and in hand | 54/58 | €182,560 | €191,572 | +€9,013 | +4.9% |
| Deferred charges and accrued income | 490/1 | €15,417 | €13,058 | -€2,358 | -15.3% |
| Total equity and liabilities | 10/49 | €17,201,301 | €17,021,980 | -€179,321 | -1.0% |
| Equity | 10/15 | €12,492,011 | €16,571,961 | +€4.1m | +32.7% |
| Contributions | 10/11 | €562,400 | €562,400 | = | 0.0% |
| Reserves | 13 | €11,929,611 | €16,009,561 | +€4.1m | +34.2% |
| Distributable reserves | 133 | €11,929,611 | €16,009,561 | +€4.1m | +34.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,709,290 | €450,019 | -€4.3m | -90.4% |
| Amounts payable within one year | 42/48 | €4,709,290 | €449,011 | -€4.3m | -90.5% |
| Trade debts | 44 | €828,446 | €253,024 | -€575,421 | -69.5% |
| Suppliers | 440/4 | €828,446 | €253,024 | -€575,421 | -69.5% |
| Taxes, remuneration and social security | 45 | €80,411 | €195,986 | +€115,575 | +144% |
| Taxes | 450/3 | €62,993 | €181,330 | +€118,336 | +188% |
| Remuneration and social security | 454/9 | €17,418 | €14,657 | -€2,762 | -15.9% |
| Other amounts payable | 47/48 | €3,800,433 | €0 | -€3.8m | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €1,008 | +€1,008 | |
| Non-recurring operating income | 76A | - | €531,079 | +€531,079 | |
| Remuneration, social security and pensions | 62 | €46,439 | €40,143 | -€6,296 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,340 | €43,773 | +€21,434 | +95.9% |
| Other operating charges | 640/8 | €12,574 | €6,225 | -€6,350 | -50.5% |
| Gross operating margin | 9900 | €3,567,231 | €4,767,020 | +€1.2m | +33.6% |
| Operating profit (loss) | 9901 | €3,485,879 | €4,676,879 | +€1.2m | +34.2% |
| Financial income | 75/76B | €336,875 | €1,209,475 | +€872,599 | +259% |
| Recurring financial income | 75 | €336,875 | €1,209,475 | +€872,599 | +259% |
| Financial charges | 65/66B | €230,087 | €253,493 | +€23,406 | +10.2% |
| Recurring financial charges | 65 | €230,087 | €253,493 | +€23,406 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €3,592,667 | €5,632,861 | +€2.0m | +56.8% |
| Income taxes | 67/77 | €1,136,493 | €1,552,911 | +€416,418 | +36.6% |
| Profit (loss) for the period | 9904 | €2,456,174 | €4,079,950 | +€1.6m | +66.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,456,174 | €4,079,950 | +€1.6m | +66.1% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.