STEDO: 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.
STEDO
Largest movements
- Cash +€139,286
up €139,286 (+26.0%), from €535,255 to €674,541
mainly Net result for the year (+€103,132) and Receivables within one year (+€63,633)
- Receivables within one year -€63,633
down €63,633 (-55.4%), from €114,879 to €51,245
of which Trade receivables: -€74,029
- Tangible fixed assets -€14,520
down €14,520 (-29.4%), from €49,330 to €34,811
of which Furniture and vehicles: -€13,833
- Reserves +€103,132
up €103,132 (+17.0%), from €605,224 to €708,356
of which Distributable reserves: +€103,132
- Tax, wage and social debts -€42,533
down €42,533 (-63.7%), from €66,823 to €24,290
of which Taxes: -€58,069
- Gross operating margin -€111,720
down €111,720 (-40.7%), from €274,785 to €163,065
- Taxes -€37,407
down €37,407 (-45.6%), from €82,011 to €44,604
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 | €700,945 | €762,133 | +€61,188 | +8.7% |
| Fixed assets | 21/28 | €49,330 | €34,811 | -€14,520 | -29.4% |
| Tangible fixed assets | 22/27 | €49,330 | €34,811 | -€14,520 | -29.4% |
| Plant, machinery and equipment | 23 | €687 | - | -€687 | |
| Furniture and vehicles | 24 | €48,644 | €34,811 | -€13,833 | -28.4% |
| Current assets | 29/58 | €651,615 | €727,323 | +€75,708 | +11.6% |
| Amounts receivable within one year | 40/41 | €114,879 | €51,245 | -€63,633 | -55.4% |
| Trade receivables | 40 | €114,879 | €40,849 | -€74,029 | -64.4% |
| Other amounts receivable | 41 | - | €10,396 | +€10,396 | |
| Cash at bank and in hand | 54/58 | €535,255 | €674,541 | +€139,286 | +26.0% |
| Deferred charges and accrued income | 490/1 | €1,481 | €1,536 | +€55 | +3.7% |
| Total equity and liabilities | 10/49 | €700,945 | €762,133 | +€61,188 | +8.7% |
| Equity | 10/15 | €623,824 | €726,956 | +€103,132 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €605,224 | €708,356 | +€103,132 | +17.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €603,364 | €706,496 | +€103,132 | +17.1% |
| Amounts payable | 17/49 | €77,121 | €35,177 | -€41,944 | -54.4% |
| Amounts payable within one year | 42/48 | €77,121 | €35,177 | -€41,944 | -54.4% |
| Trade debts | 44 | €675 | €1,279 | +€604 | +89.4% |
| Suppliers | 440/4 | €675 | €1,279 | +€604 | +89.4% |
| Taxes, remuneration and social security | 45 | €66,823 | €24,290 | -€42,533 | -63.7% |
| Taxes | 450/3 | €66,823 | €8,754 | -€58,069 | -86.9% |
| Remuneration and social security | 454/9 | - | €15,536 | +€15,536 | |
| Other amounts payable | 47/48 | €9,623 | €9,608 | -€15 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,662 | €14,520 | -€143 | -1.0% |
| Other operating charges | 640/8 | €505 | €661 | +€156 | +30.8% |
| Gross operating margin | 9900 | €274,785 | €163,065 | -€111,720 | -40.7% |
| Operating profit (loss) | 9901 | €259,617 | €147,884 | -€111,733 | -43.0% |
| Financial charges | 65/66B | €172 | €148 | -€24 | -14.0% |
| Recurring financial charges | 65 | €172 | €148 | -€24 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €259,445 | €147,736 | -€111,709 | -43.1% |
| Income taxes | 67/77 | €82,011 | €44,604 | -€37,407 | -45.6% |
| Profit (loss) for the period | 9904 | €177,434 | €103,132 | -€74,302 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €177,434 | €103,132 | -€74,302 | -41.9% |
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.