STEDES: what changed
Two fiscal 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.
STEDES
Largest movements
- Tangible fixed assets -€14,347
down €14,347 (-41.8%), from €34,313 to €19,966
of which Leasing and similar rights: -€11,023
- Cash -€13,989
down €13,989 (-36.2%), from €38,668 to €24,679
mainly Other debts (-€19,440) and Tax, wage and social debts (-€13,213)
- Receivables within one year +€10,394
up €10,394 (+11.3%), from €92,018 to €102,412
of which Other amounts receivable: +€35,433
- Receivables after one year -€9,637
down €9,637 (-61.3%), from €15,710 to €6,073
- Other debts -€19,440
down €19,440 (-95.2%), from €20,412 to €972
- Tax, wage and social debts -€13,213
down €13,213 (-31.0%), from €42,615 to €29,402
- Debts after one year -€8,867
no longer reported in 2024 (was €8,867)
- Current portion of long-term debt +€8,268
up €8,268 (+117.2%), from €7,057 to €15,325
- Profit (loss) carried forward +€4,913
new in 2024: €4,913
- Gross operating margin -€62,212
down €62,212 (-71.4%), from €87,152 to €24,940
- Taxes -€12,422
down €12,422 (-77.7%), from €15,977 to €3,555
- Depreciation -€1,023
down €1,023 (-6.7%), from €15,371 to €14,348
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €181,256 | €153,299 | -€27,957 | -15.4% |
| Fixed assets | 21/28 | €34,313 | €19,966 | -€14,347 | -41.8% |
| Tangible fixed assets | 22/27 | €34,313 | €19,966 | -€14,347 | -41.8% |
| Plant, machinery and equipment | 23 | €5,822 | €4,331 | -€1,491 | -25.6% |
| Furniture and vehicles | 24 | €10,305 | €8,472 | -€1,833 | -17.8% |
| Leasing and similar rights | 25 | €18,186 | €7,163 | -€11,023 | -60.6% |
| Current assets | 29/58 | €146,943 | €133,333 | -€13,610 | -9.3% |
| Amounts receivable after more than one year | 29 | €15,710 | €6,073 | -€9,637 | -61.3% |
| Other amounts receivable | 291 | €15,710 | €6,073 | -€9,637 | -61.3% |
| Amounts receivable within one year | 40/41 | €92,018 | €102,412 | +€10,394 | +11.3% |
| Trade receivables | 40 | €31,032 | €5,993 | -€25,039 | -80.7% |
| Other amounts receivable | 41 | €60,986 | €96,419 | +€35,433 | +58.1% |
| Cash at bank and in hand | 54/58 | €38,668 | €24,679 | -€13,989 | -36.2% |
| Deferred charges and accrued income | 490/1 | €547 | €169 | -€378 | -69.1% |
| Total equity and liabilities | 10/49 | €181,256 | €153,299 | -€27,957 | -15.4% |
| Equity | 10/15 | €101,981 | €106,894 | +€4,913 | +4.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €97,981 | €97,981 | = | 0.0% |
| Distributable reserves | 133 | €97,981 | €97,981 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €4,913 | +€4,913 | |
| Amounts payable | 17/49 | €79,275 | €46,405 | -€32,870 | -41.5% |
| Amounts payable after more than one year | 17 | €8,867 | - | -€8,867 | |
| Financial debts | 170/4 | €8,867 | - | -€8,867 | |
| Amounts payable within one year | 42/48 | €70,408 | €46,405 | -€24,003 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €7,057 | €15,325 | +€8,268 | +117.2% |
| Trade debts | 44 | €324 | €706 | +€382 | +117.9% |
| Suppliers | 440/4 | €324 | €706 | +€382 | +117.9% |
| Taxes, remuneration and social security | 45 | €42,615 | €29,402 | -€13,213 | -31.0% |
| Taxes | 450/3 | €42,615 | €29,402 | -€13,213 | -31.0% |
| Other amounts payable | 47/48 | €20,412 | €972 | -€19,440 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,371 | €14,348 | -€1,023 | -6.7% |
| Other operating charges | 640/8 | €2,388 | €2,044 | -€344 | -14.4% |
| Gross operating margin | 9900 | €87,152 | €24,940 | -€62,212 | -71.4% |
| Operating profit (loss) | 9901 | €69,393 | €8,548 | -€60,845 | -87.7% |
| Financial charges | 65/66B | €780 | €80 | -€700 | -89.7% |
| Recurring financial charges | 65 | €780 | €80 | -€700 | -89.7% |
| Profit (loss) for the period before taxes | 9903 | €68,613 | €8,468 | -€60,145 | -87.7% |
| Income taxes | 67/77 | €15,977 | €3,555 | -€12,422 | -77.7% |
| Profit (loss) for the period | 9904 | €52,636 | €4,913 | -€47,723 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,636 | €4,913 | -€47,723 | -90.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.