STEDI: 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.
STEDI
Largest movements
- Cash +€35,115
up €35,115 (+45.3%), from €77,555 to €112,670
mainly Net result for the year (+€100,551) and Depreciation (+€13,471)
- Tangible fixed assets -€13,471
down €13,471 (-41.5%), from €32,463 to €18,992
of which Furniture and vehicles: -€12,851
- Receivables within one year +€2,454
up €2,454 (+4.6%), from €53,335 to €55,789
of which Trade receivables: +€6,220
- Deferred charges and accrued income -€1,922
down €1,922 (-42.8%), from €4,489 to €2,567
- Profit (loss) carried forward +€100,551
up €100,551 (+772.1%), from €13,023 to €113,573
- Other debts -€78,274
down €78,274 (-96.5%), from €81,085 to €2,811
- Gross operating margin +€23,016
up €23,016 (+18.1%), from €126,870 to €149,885
- Other operating charges -€7,344
down €7,344 (-86.1%), from €8,533 to €1,190
- Depreciation +€5,737
up €5,737 (+74.2%), from €7,734 to €13,471
- Taxes +€2,993
up €2,993 (+9.7%), from €30,980 to €33,973
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 | €167,842 | €190,018 | +€22,175 | +13.2% |
| Fixed assets | 21/28 | €32,463 | €18,992 | -€13,471 | -41.5% |
| Tangible fixed assets | 22/27 | €32,463 | €18,992 | -€13,471 | -41.5% |
| Land and buildings | 22 | €5,150 | €5,150 | = | 0.0% |
| Plant, machinery and equipment | 23 | €620 | €0 | -€620 | -100.0% |
| Furniture and vehicles | 24 | €26,693 | €13,842 | -€12,851 | -48.1% |
| Current assets | 29/58 | €135,379 | €171,025 | +€35,646 | +26.3% |
| Amounts receivable within one year | 40/41 | €53,335 | €55,789 | +€2,454 | +4.6% |
| Trade receivables | 40 | €49,569 | €55,789 | +€6,220 | +12.5% |
| Other amounts receivable | 41 | €3,766 | €0 | -€3,766 | -100.0% |
| Cash at bank and in hand | 54/58 | €77,555 | €112,670 | +€35,115 | +45.3% |
| Deferred charges and accrued income | 490/1 | €4,489 | €2,567 | -€1,922 | -42.8% |
| Total equity and liabilities | 10/49 | €167,842 | €190,018 | +€22,175 | +13.2% |
| Equity | 10/15 | €75,383 | €175,933 | +€100,551 | +133.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,760 | €43,760 | = | 0.0% |
| Distributable reserves | 133 | €43,760 | €43,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,023 | €113,573 | +€100,551 | +772.1% |
| Amounts payable | 17/49 | €92,460 | €14,085 | -€78,375 | -84.8% |
| Amounts payable within one year | 42/48 | €92,460 | €14,085 | -€78,375 | -84.8% |
| Trade debts | 44 | €7,058 | €5,242 | -€1,817 | -25.7% |
| Suppliers | 440/4 | €7,058 | €5,242 | -€1,817 | -25.7% |
| Advances received on contracts in progress | 46 | €950 | €950 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,366 | €5,082 | +€1,715 | +51.0% |
| Taxes | 450/3 | €3,366 | €5,082 | +€1,715 | +51.0% |
| Other amounts payable | 47/48 | €81,085 | €2,811 | -€78,274 | -96.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €295 | +€295 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,734 | €13,471 | +€5,737 | +74.2% |
| Other operating charges | 640/8 | €8,533 | €1,190 | -€7,344 | -86.1% |
| Gross operating margin | 9900 | €126,870 | €149,885 | +€23,016 | +18.1% |
| Operating profit (loss) | 9901 | €110,602 | €134,930 | +€24,328 | +22.0% |
| Financial income | 75/76B | €346 | €645 | +€299 | +86.3% |
| Recurring financial income | 75 | €346 | €645 | +€299 | +86.3% |
| Financial charges | 65/66B | €858 | €1,052 | +€194 | +22.6% |
| Recurring financial charges | 65 | €858 | €1,052 | +€194 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | €110,090 | €134,523 | +€24,433 | +22.2% |
| Income taxes | 67/77 | €30,980 | €33,973 | +€2,993 | +9.7% |
| Profit (loss) for the period | 9904 | €79,111 | €100,551 | +€21,440 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €79,111 | €100,551 | +€21,440 | +27.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.