STEDICOM: what changed
STEDICOM
Largest movements
- Cash +€141,975
up €141,975 (+87.8%), from €161,655 to €303,630
mainly Net result for the year (+€208,629) and Depreciation (+€161,067)
- Receivables within one year +€127,753
up €127,753 (+75.5%), from €169,125 to €296,878
of which Trade receivables: +€70,859
- Tangible fixed assets -€109,221
down €109,221 (-8.8%), from €1.2m to €1.1m
of which Land and buildings: -€69,070
- Reserves +€208,629
up €208,629 (+24.2%), from €861,707 to €1.1m
of which Distributable reserves: +€208,629
- Debts after one year -€72,165
down €72,165 (-11.9%), from €608,246 to €536,081
- Other debts +€29,523
up €29,523 (+23.2%), from €127,495 to €157,018
- Gross operating margin -€173,438
down €173,438 (-20.2%), from €860,335 to €686,897
- Depreciation -€76,623
down €76,623 (-32.2%), from €237,690 to €161,067
- Staff costs -€50,500
down €50,500 (-17.6%), from €287,383 to €236,883
- Taxes -€32,576
down €32,576 (-38.5%), from €84,589 to €52,013
- Financial charges -€11,030
down €11,030 (-34.5%), from €31,979 to €20,949
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,824,224 | €1,992,833 | +€168,609 | +9.2% |
| Fixed assets | 21/28 | €1,242,584 | €1,133,363 | -€109,221 | -8.8% |
| Tangible fixed assets | 22/27 | €1,242,584 | €1,133,363 | -€109,221 | -8.8% |
| Land and buildings | 22 | €1,009,031 | €939,961 | -€69,070 | -6.8% |
| Plant, machinery and equipment | 23 | €109,390 | €93,318 | -€16,072 | -14.7% |
| Furniture and vehicles | 24 | €96,473 | €78,412 | -€18,061 | -18.7% |
| Other tangible fixed assets | 26 | €27,690 | €21,672 | -€6,018 | -21.7% |
| Current assets | 29/58 | €581,640 | €859,470 | +€277,830 | +47.8% |
| Stocks and contracts in progress | 3 | €250,860 | €258,962 | +€8,102 | +3.2% |
| Stocks | 30/36 | €250,860 | €258,962 | +€8,102 | +3.2% |
| Amounts receivable within one year | 40/41 | €169,125 | €296,878 | +€127,753 | +75.5% |
| Trade receivables | 40 | €155,226 | €226,085 | +€70,859 | +45.6% |
| Other amounts receivable | 41 | €13,899 | €70,793 | +€56,894 | +409% |
| Cash at bank and in hand | 54/58 | €161,655 | €303,630 | +€141,975 | +87.8% |
| Total equity and liabilities | 10/49 | €1,824,224 | €1,992,833 | +€168,609 | +9.2% |
| Equity | 10/15 | €867,907 | €1,076,536 | +€208,629 | +24.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €861,707 | €1,070,336 | +€208,629 | +24.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,950 | €35,950 | = | 0.0% |
| Distributable reserves | 133 | €823,897 | €1,032,526 | +€208,629 | +25.3% |
| Amounts payable | 17/49 | €956,317 | €916,297 | -€40,020 | -4.2% |
| Amounts payable after more than one year | 17 | €608,246 | €536,081 | -€72,165 | -11.9% |
| Financial debts | 170/4 | €608,246 | €536,081 | -€72,165 | -11.9% |
| Amounts payable within one year | 42/48 | €348,071 | €380,216 | +€32,145 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €70,266 | €72,165 | +€1,899 | +2.7% |
| Trade debts | 44 | €125,866 | €121,924 | -€3,942 | -3.1% |
| Suppliers | 440/4 | €125,866 | €121,924 | -€3,942 | -3.1% |
| Taxes, remuneration and social security | 45 | €24,444 | €29,109 | +€4,665 | +19.1% |
| Taxes | 450/3 | €14,852 | €14,711 | -€141 | -0.9% |
| Remuneration and social security | 454/9 | €9,592 | €14,398 | +€4,806 | +50.1% |
| Other amounts payable | 47/48 | €127,495 | €157,018 | +€29,523 | +23.2% |
| Remuneration, social security and pensions | 62 | €287,383 | €236,883 | -€50,500 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237,690 | €161,067 | -€76,623 | -32.2% |
| Other operating charges | 640/8 | €6,261 | €8,501 | +€2,240 | +35.8% |
| Gross operating margin | 9900 | €860,335 | €686,897 | -€173,438 | -20.2% |
| Operating profit (loss) | 9901 | €329,001 | €280,446 | -€48,555 | -14.8% |
| Financial income | 75/76B | €3,261 | €1,145 | -€2,116 | -64.9% |
| Recurring financial income | 75 | €3,261 | €1,145 | -€2,116 | -64.9% |
| Financial charges | 65/66B | €31,979 | €20,949 | -€11,030 | -34.5% |
| Recurring financial charges | 65 | €31,979 | €20,949 | -€11,030 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | €300,283 | €260,642 | -€39,641 | -13.2% |
| Income taxes | 67/77 | €84,589 | €52,013 | -€32,576 | -38.5% |
| Profit (loss) for the period | 9904 | €215,694 | €208,629 | -€7,065 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €215,694 | €208,629 | -€7,065 | -3.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.