STEDECO: 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.
STEDECO
Largest movements
- Tangible fixed assets -€44,400
down €44,400 (-100%), from €44,400 to €0
- Profit (loss) carried forward -€44,712
down €44,712 (-123%), from -€36,392 to -€81,104
- Other debts +€1,128
up €1,128 (+1.9%), from €60,413 to €61,541
- Trade debts -€587
no longer reported in 2025 (was €587)
- Depreciation +€14,100
up €14,100 (+140%), from €10,100 to €24,200
- Purchases and services +€235
new in 2025: €235
- Gross operating margin -€88
down €88 (-59.9%), from -€147 to -€235
- Financial charges +€63
new in 2025: €63
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €45,059 | €888 | -€44,171 | -98.0% |
| Fixed assets | 21/28 | €44,531 | €124 | -€44,407 | -99.7% |
| Tangible fixed assets | 22/27 | €44,400 | €0 | -€44,400 | -100% |
| Land and buildings | 22 | €44,400 | €0 | -€44,400 | -100% |
| Financial fixed assets | 28 | €131 | €124 | -€7 | -5.3% |
| Current assets | 29/58 | €528 | €764 | +€236 | +44.7% |
| Amounts receivable within one year | 40/41 | €472 | €472 | = | 0.0% |
| Other amounts receivable | 41 | €472 | €472 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €56 | €292 | +€236 | +421% |
| Total equity and liabilities | 10/49 | €45,059 | €888 | -€44,171 | -98.0% |
| Equity | 10/15 | -€15,941 | -€60,653 | -€44,712 | -280% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,392 | -€81,104 | -€44,712 | -123% |
| Amounts payable | 17/49 | €61,000 | €61,541 | +€541 | +0.9% |
| Amounts payable within one year | 42/48 | €61,000 | €61,541 | +€541 | +0.9% |
| Trade debts | 44 | €587 | - | -€587 | |
| Suppliers | 440/4 | €587 | - | -€587 | |
| Other amounts payable | 47/48 | €60,413 | €61,541 | +€1,128 | +1.9% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €235 | +€235 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,100 | €24,200 | +€14,100 | +140% |
| Gross operating margin | 9900 | -€147 | -€235 | -€88 | -59.9% |
| Operating profit (loss) | 9901 | -€10,247 | -€24,435 | -€14,188 | -138% |
| Financial charges | 65/66B | - | €63 | +€63 | |
| Recurring financial charges | 65 | - | €63 | +€63 | |
| Profit (loss) for the period before taxes | 9903 | -€10,247 | -€24,498 | -€14,251 | -139% |
| Profit (loss) for the period | 9904 | -€10,247 | -€24,498 | -€14,251 | -139% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,247 | -€24,498 | -€14,251 | -139% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.