STEDAA: 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.
STEDAA
Largest movements
- Tangible fixed assets +€179,283
new in 2025: €179,283
of which Land and buildings: +€129,000
- Reserves +€181,076
up €181,076 (+17.3%), from €1.0m to €1.2m
- Debts after one year +€20,827
up €20,827 (+3.9%), from €527,611 to €548,438
- Other operating charges +€20,244
up €20,244 (+1,816%), from €1,115 to €21,359
- Gross operating margin +€15,504
up €15,504 (+20.9%), from €74,314 to €89,819
- Financial charges +€8,190
up €8,190 (+63.2%), from €12,967 to €21,157
- Financial income +€2,506
up €2,506 (+1.6%), from €160,196 to €162,702
- Taxes -€2,115
down €2,115 (-16.0%), from €13,244 to €11,130
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 | €1,803,107 | €1,995,902 | +€192,795 | +10.7% |
| Fixed assets | 21/28 | €1,588,989 | €1,768,272 | +€179,283 | +11.3% |
| Tangible fixed assets | 22/27 | - | €179,283 | +€179,283 | |
| Land and buildings | 22 | - | €129,000 | +€129,000 | |
| Assets under construction and advance payments | 27 | - | €50,283 | +€50,283 | |
| Financial fixed assets | 28 | €1,588,989 | €1,588,989 | = | 0.0% |
| Current assets | 29/58 | €214,118 | €227,630 | +€13,512 | +6.3% |
| Amounts receivable after more than one year | 29 | €159,253 | €176,716 | +€17,463 | +11.0% |
| Other amounts receivable | 291 | €159,253 | €176,716 | +€17,463 | +11.0% |
| Amounts receivable within one year | 40/41 | €11,490 | €4,424 | -€7,066 | -61.5% |
| Trade receivables | 40 | €0 | €554 | +€554 | |
| Other amounts receivable | 41 | €11,490 | €3,870 | -€7,620 | -66.3% |
| Cash at bank and in hand | 54/58 | €41,704 | €44,818 | +€3,114 | +7.5% |
| Deferred charges and accrued income | 490/1 | €1,672 | €1,672 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,803,107 | €1,995,902 | +€192,795 | +10.7% |
| Equity | 10/15 | €1,095,226 | €1,276,303 | +€181,076 | +16.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,045,226 | €1,226,303 | +€181,076 | +17.3% |
| Distributable reserves | 133 | €1,045,226 | €1,226,303 | +€181,076 | +17.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €707,881 | €719,599 | +€11,718 | +1.7% |
| Amounts payable after more than one year | 17 | €527,611 | €548,438 | +€20,827 | +3.9% |
| Other amounts payable | 178/9 | €527,611 | €548,438 | +€20,827 | +3.9% |
| Amounts payable within one year | 42/48 | €180,269 | €171,160 | -€9,109 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €11,764 | €3,333 | -€8,431 | -71.7% |
| Suppliers | 440/4 | €11,764 | €3,333 | -€8,431 | -71.7% |
| Advances received on contracts in progress | 46 | €156,000 | €156,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €12,506 | €11,828 | -€678 | -5.4% |
| Taxes | 450/3 | €12,506 | €11,828 | -€678 | -5.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €1,115 | €21,359 | +€20,244 | +1,816% |
| Gross operating margin | 9900 | €74,314 | €89,819 | +€15,504 | +20.9% |
| Operating profit (loss) | 9901 | €73,200 | €68,460 | -€4,740 | -6.5% |
| Financial income | 75/76B | €160,196 | €162,702 | +€2,506 | +1.6% |
| Recurring financial income | 75 | €160,196 | €162,702 | +€2,506 | +1.6% |
| Financial charges | 65/66B | €12,967 | €21,157 | +€8,190 | +63.2% |
| Recurring financial charges | 65 | €12,967 | €21,157 | +€8,190 | +63.2% |
| Profit (loss) for the period before taxes | 9903 | €220,429 | €210,005 | -€10,424 | -4.7% |
| Income taxes | 67/77 | €13,244 | €11,130 | -€2,115 | -16.0% |
| Profit (loss) for the period | 9904 | €207,185 | €198,875 | -€8,310 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €207,185 | €198,875 | -€8,310 | -4.0% |
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 23 October 2026 via checked.be.