STEDIPHAR: 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.
STEDIPHAR
Largest movements
- Cash -€654,199
down €654,199 (-92.4%), from €708,064 to €53,865
mainly Current investments (-€300,000) and Other debts (-€225,422)
- Current investments +€300,000
new in 2025: €300,000
- Receivables within one year +€141,343
up €141,343 (+44.4%), from €317,989 to €459,333
of which Other amounts receivable: +€235,300
- Other debts -€225,422
down €225,422 (-37.0%), from €608,737 to €383,316
- Reserves +€27,443
up €27,443 (+10.2%), from €269,500 to €296,943
- Tax, wage and social debts -€19,341
down €19,341 (-46.3%), from €41,770 to €22,429
of which Taxes: -€17,156
- Gross operating margin +€41,144
up €41,144 (+11.8%), from €350,070 to €391,214
- Staff costs +€34,288
up €34,288 (+30.8%), from €111,465 to €145,753
- Financial income -€22,281
down €22,281 (-58.2%), from €38,265 to €15,984
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,302,501 | €1,085,810 | -€216,692 | -16.6% |
| Fixed assets | 21/28 | €58,092 | €65,959 | +€7,867 | +13.5% |
| Intangible fixed assets | 21 | - | €3,163 | +€3,163 | |
| Tangible fixed assets | 22/27 | €57,453 | €62,057 | +€4,603 | +8.0% |
| Land and buildings | 22 | €35,082 | €33,970 | -€1,112 | -3.2% |
| Plant, machinery and equipment | 23 | €13,668 | €22,164 | +€8,497 | +62.2% |
| Furniture and vehicles | 24 | €8,703 | €5,923 | -€2,781 | -31.9% |
| Financial fixed assets | 28 | €639 | €739 | +€100 | +15.6% |
| Current assets | 29/58 | €1,244,409 | €1,019,851 | -€224,559 | -18.0% |
| Stocks and contracts in progress | 3 | €190,649 | €184,541 | -€6,108 | -3.2% |
| Stocks | 30/36 | €190,649 | €184,541 | -€6,108 | -3.2% |
| Amounts receivable within one year | 40/41 | €317,989 | €459,333 | +€141,343 | +44.4% |
| Trade receivables | 40 | €279,420 | €185,463 | -€93,957 | -33.6% |
| Other amounts receivable | 41 | €38,569 | €273,870 | +€235,300 | +610% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €708,064 | €53,865 | -€654,199 | -92.4% |
| Deferred charges and accrued income | 490/1 | €27,707 | €22,112 | -€5,595 | -20.2% |
| Total equity and liabilities | 10/49 | €1,302,501 | €1,085,810 | -€216,692 | -16.6% |
| Equity | 10/15 | €297,892 | €325,335 | +€27,443 | +9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €269,500 | €296,943 | +€27,443 | +10.2% |
| Distributable reserves | 133 | €269,500 | €296,943 | +€27,443 | +10.2% |
| Profit (loss) carried forward | 14 | €9,792 | €9,792 | = | 0.0% |
| Amounts payable | 17/49 | €1,004,610 | €760,475 | -€244,135 | -24.3% |
| Amounts payable within one year | 42/48 | €1,004,456 | €760,320 | -€244,136 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | - | €10,105 | +€10,105 | |
| Trade debts | 44 | €353,948 | €344,469 | -€9,479 | -2.7% |
| Suppliers | 440/4 | €353,948 | €344,469 | -€9,479 | -2.7% |
| Taxes, remuneration and social security | 45 | €41,770 | €22,429 | -€19,341 | -46.3% |
| Taxes | 450/3 | €21,677 | €4,521 | -€17,156 | -79.1% |
| Remuneration and social security | 454/9 | €20,093 | €17,908 | -€2,185 | -10.9% |
| Other amounts payable | 47/48 | €608,737 | €383,316 | -€225,422 | -37.0% |
| Accrued charges and deferred income | 492/3 | €154 | €155 | +€1 | +0.9% |
| Remuneration, social security and pensions | 62 | €111,465 | €145,753 | +€34,288 | +30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,665 | €10,987 | +€2,321 | +26.8% |
| Other operating charges | 640/8 | €4,391 | €4,991 | +€600 | +13.7% |
| Gross operating margin | 9900 | €350,070 | €391,214 | +€41,144 | +11.8% |
| Operating profit (loss) | 9901 | €225,549 | €229,484 | +€3,934 | +1.7% |
| Financial income | 75/76B | €38,265 | €15,984 | -€22,281 | -58.2% |
| Recurring financial income | 75 | €38,265 | €15,984 | -€22,281 | -58.2% |
| Financial charges | 65/66B | €19,269 | €20,108 | +€839 | +4.4% |
| Recurring financial charges | 65 | €19,269 | €20,108 | +€839 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €244,546 | €225,360 | -€19,185 | -7.8% |
| Income taxes | 67/77 | €18,377 | €17,917 | -€460 | -2.5% |
| Profit (loss) for the period | 9904 | €226,168 | €207,443 | -€18,725 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €226,168 | €207,443 | -€18,725 | -8.3% |
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 14 October 2026 via checked.be.