STEDENHUYS: 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.
What changed
STEDENHUYS
NACE 91.210, Libraries, archives, museums and other cultural activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€384,444
2024 · -€91,975+€476,419
Equity
€576,029
2024 · €191,585+€384,444
Cash
€556,343
2024 · €307,915+€248,428
Balance sheet total
€9.1m
2024 · €9.0m+€73,490
Largest movements
Assets
- Cash +€248,428
up €248,428 (+80.7%), from €307,915 to €556,343
mainly Net result for the year (+€384,444) and Depreciation (+€162,530)
- Tangible fixed assets -€138,530
down €138,530 (-1.8%), from €7.9m to €7.7m
of which Land and buildings: -€137,774
Equity and liabilities
- Reserves +€384,444
up €384,444 (+420%), from €91,585 to €476,029
of which Distributable reserves: +€384,444
- Debts after one year -€361,960
down €361,960 (-5.9%), from €6.1m to €5.8m
Income statement
- Depreciation -€404,185
down €404,185 (-71.3%), from €566,715 to €162,530
- Gross operating margin +€197,339
up €197,339 (+29.6%), from €667,402 to €864,740
- Taxes +€117,098
new in 2025: €117,098
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.
Result 2024
-€91,975
Gross operating margin
+€197,339
Staff costs
+€4,775
Depreciation
+€404,185
Write-downs
+€2,500
Other operating charges
-€3,904
Financial income
-€2,772
Financial charges
-€8,605
Taxes
-€117,098
Result 2025
€384,444
raises the resultlowers the result
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.
From operations
+€604,555
Investment
€0
Financing
-€356,127
Cash 2024
€307,915
From operations (derived)
+€604,555
Net result for the year
+€384,444
Depreciation
+€162,530
Receivables within one year
+€72,755
Deferred charges and accrued income
-€60,347
Smaller working-capital items
-€37
Tax, wage and social debts
+€42,098
Accrued charges and deferred income
+€3,112
Financing
-€356,127
Debts after one year
-€361,960
Current portion of long-term debt
+€5,833
Cash 2025
€556,343
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,028,249 | €9,101,739 | +€73,490 | +0.8% |
| Fixed assets | 21/28 | €8,409,036 | €8,246,506 | -€162,530 | -1.9% |
| Intangible fixed assets | 21 | €534,378 | €510,378 | -€24,000 | -4.5% |
| Tangible fixed assets | 22/27 | €7,874,658 | €7,736,128 | -€138,530 | -1.8% |
| Land and buildings | 22 | €7,871,761 | €7,733,987 | -€137,774 | -1.8% |
| Furniture and vehicles | 24 | €2,897 | €2,141 | -€756 | -26.1% |
| Current assets | 29/58 | €619,213 | €855,234 | +€236,020 | +38.1% |
| Stocks and contracts in progress | 3 | €7,518 | €7,518 | = | 0.0% |
| Stocks | 30/36 | €7,518 | €7,518 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €229,751 | €156,996 | -€72,755 | -31.7% |
| Trade receivables | 40 | €2,070 | €3,618 | +€1,548 | +74.8% |
| Other amounts receivable | 41 | €227,682 | €153,378 | -€74,303 | -32.6% |
| Cash at bank and in hand | 54/58 | €307,915 | €556,343 | +€248,428 | +80.7% |
| Deferred charges and accrued income | 490/1 | €74,029 | €134,376 | +€60,347 | +81.5% |
| Total equity and liabilities | 10/49 | €9,028,249 | €9,101,739 | +€73,490 | +0.8% |
| Equity | 10/15 | €191,585 | €576,029 | +€384,444 | +201% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €91,585 | €476,029 | +€384,444 | +420% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €81,585 | €466,029 | +€384,444 | +471% |
| Amounts payable | 17/49 | €8,836,665 | €8,525,711 | -€310,954 | -3.5% |
| Amounts payable after more than one year | 17 | €6,134,736 | €5,772,776 | -€361,960 | -5.9% |
| Financial debts | 170/4 | €6,134,736 | €5,772,776 | -€361,960 | -5.9% |
| Amounts payable within one year | 42/48 | €2,614,063 | €2,661,956 | +€47,893 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €378,354 | €384,187 | +€5,833 | +1.5% |
| Trade debts | 44 | €20,564 | €20,487 | -€77 | -0.4% |
| Suppliers | 440/4 | €20,564 | €20,487 | -€77 | -0.4% |
| Taxes, remuneration and social security | 45 | €842 | €42,940 | +€42,098 | +5,001% |
| Taxes | 450/3 | €842 | €42,940 | +€42,098 | +5,001% |
| Other amounts payable | 47/48 | €2,214,302 | €2,214,342 | +€40 | 0.0% |
| Accrued charges and deferred income | 492/3 | €87,866 | €90,978 | +€3,112 | +3.5% |
| Remuneration, social security and pensions | 62 | €4,775 | - | -€4,775 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €566,715 | €162,530 | -€404,185 | -71.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,500 | - | -€2,500 | |
| Other operating charges | 640/8 | €44,167 | €48,071 | +€3,904 | +8.8% |
| Gross operating margin | 9900 | €667,402 | €864,740 | +€197,339 | +29.6% |
| Operating profit (loss) | 9901 | €49,245 | €654,139 | +€604,894 | +1,228% |
| Financial income | 75/76B | €2,772 | - | -€2,772 | |
| Recurring financial income | 75 | €2,772 | - | -€2,772 | |
| Financial charges | 65/66B | €143,991 | €152,597 | +€8,605 | +6.0% |
| Recurring financial charges | 65 | €143,991 | €152,597 | +€8,605 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | -€91,975 | €501,542 | +€593,517 | |
| Income taxes | 67/77 | - | €117,098 | +€117,098 | |
| Profit (loss) for the period | 9904 | -€91,975 | €384,444 | +€476,419 | |
| Profit (loss) for the period to be appropriated | 9905 | -€91,975 | €384,444 | +€476,419 |
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 20 October 2026 via checked.be.