Stedco: 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.
Stedco
Largest movements
- Cash +€51,183
up €51,183 (+3087.1%), from €1,658 to €52,841
mainly Other debts (+€64,687) and Current investments (+€50,000)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year +€17,679
up €17,679 (+145.1%), from €12,182 to €29,861
of which Other amounts receivable: +€19,986
- Tangible fixed assets -€5,870
down €5,870 (-67.9%), from €8,642 to €2,772
of which Furniture and vehicles: -€5,620
- Deferred charges and accrued income +€1,647
new in 2025: €1,647
- Other debts +€64,687
new in 2025: €64,687
- Reserves -€50,834
no longer reported in 2025 (was €50,834)
- Trade debts +€6,183
up €6,183 (+105.2%), from €5,877 to €12,061
- Current portion of long-term debt -€4,485
no longer reported in 2025 (was €4,485)
- Tax, wage and social debts -€1,357
down €1,357 (-21.6%), from €6,287 to €4,929
of which Remuneration and social security: -€2,049
- Gross operating margin +€11,696
up €11,696 (+49.8%), from €23,464 to €35,160
- Taxes +€2,675
up €2,675 (+61.6%), from €4,340 to €7,015
- Depreciation -€1,653
down €1,653 (-20.2%), from €8,183 to €6,530
- Financial income +€735
up €735 (+252.6%), from €291 to €1,027
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 | €72,482 | €87,121 | +€14,640 | +20.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €8,642 | €2,772 | -€5,870 | -67.9% |
| Tangible fixed assets | 22/27 | €8,642 | €2,772 | -€5,870 | -67.9% |
| Plant, machinery and equipment | 23 | €1,539 | €1,289 | -€250 | -16.2% |
| Furniture and vehicles | 24 | €7,103 | €1,483 | -€5,620 | -79.1% |
| Current assets | 29/58 | €63,840 | €84,349 | +€20,510 | +32.1% |
| Amounts receivable within one year | 40/41 | €12,182 | €29,861 | +€17,679 | +145.1% |
| Trade receivables | 40 | €10,131 | €7,824 | -€2,307 | -22.8% |
| Other amounts receivable | 41 | €2,050 | €22,037 | +€19,986 | +974.8% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €1,658 | €52,841 | +€51,183 | +3087.1% |
| Deferred charges and accrued income | 490/1 | - | €1,647 | +€1,647 | |
| Total equity and liabilities | 10/49 | €72,482 | €87,121 | +€14,640 | +20.2% |
| Equity | 10/15 | €55,834 | €5,000 | -€50,834 | -91.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €50,834 | - | -€50,834 | |
| Distributable reserves | 133 | €50,834 | - | -€50,834 | |
| Amounts payable | 17/49 | €16,648 | €82,121 | +€65,473 | +393.3% |
| Amounts payable within one year | 42/48 | €16,648 | €81,677 | +€65,028 | +390.6% |
| Current portion of amounts payable after more than one year | 42 | €4,485 | - | -€4,485 | |
| Trade debts | 44 | €5,877 | €12,061 | +€6,183 | +105.2% |
| Suppliers | 440/4 | €5,877 | €12,061 | +€6,183 | +105.2% |
| Taxes, remuneration and social security | 45 | €6,287 | €4,929 | -€1,357 | -21.6% |
| Taxes | 450/3 | €4,237 | €4,929 | +€692 | +16.3% |
| Remuneration and social security | 454/9 | €2,049 | - | -€2,049 | |
| Other amounts payable | 47/48 | - | €64,687 | +€64,687 | |
| Accrued charges and deferred income | 492/3 | - | €445 | +€445 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,183 | €6,530 | -€1,653 | -20.2% |
| Other operating charges | 640/8 | €767 | €624 | -€143 | -18.6% |
| Gross operating margin | 9900 | €23,464 | €35,160 | +€11,696 | +49.8% |
| Operating profit (loss) | 9901 | €14,514 | €28,005 | +€13,492 | +93.0% |
| Financial income | 75/76B | €291 | €1,027 | +€735 | +252.6% |
| Recurring financial income | 75 | €291 | €1,027 | +€735 | +252.6% |
| Financial charges | 65/66B | €192 | €32 | -€160 | -83.3% |
| Recurring financial charges | 65 | €192 | €32 | -€160 | -83.3% |
| Profit (loss) for the period before taxes | 9903 | €14,613 | €29,000 | +€14,387 | +98.4% |
| Income taxes | 67/77 | €4,340 | €7,015 | +€2,675 | +61.6% |
| Profit (loss) for the period | 9904 | €10,274 | €21,985 | +€11,711 | +114.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,274 | €21,985 | +€11,711 | +114.0% |
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 11 October 2026 via checked.be.