STEDO: 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.
STEDO
Largest movements
- Receivables within one year -€8,523
down €8,523 (-17.6%), from €48,431 to €39,909
of which Trade receivables: -€7,490
- Tangible fixed assets -€7,704
down €7,704 (-4.6%), from €166,912 to €159,208
- Debts after one year -€22,957
down €22,957 (-23.3%), from €98,525 to €75,568
- Profit (loss) carried forward +€2,810
up €2,810 (+4.7%), from €59,163 to €61,973
- Current portion of long-term debt +€2,322
up €2,322 (+10.2%), from €22,784 to €25,106
- Depreciation -€6,046
down €6,046 (-44.0%), from €13,750 to €7,704
- Gross operating margin -€2,016
down €2,016 (-10.3%), from €19,527 to €17,512
- Financial charges -€1,996
down €1,996 (-24.5%), from €8,142 to €6,146
- Taxes +€559
up €559 (+41.7%), from €1,340 to €1,899
- Other operating charges +€487
up €487 (+108.0%), from €451 to €937
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 | €216,292 | €199,165 | -€17,127 | -7.9% |
| Fixed assets | 21/28 | €166,912 | €159,208 | -€7,704 | -4.6% |
| Tangible fixed assets | 22/27 | €166,912 | €159,208 | -€7,704 | -4.6% |
| Land and buildings | 22 | €166,912 | €159,208 | -€7,704 | -4.6% |
| Current assets | 29/58 | €49,380 | €39,957 | -€9,423 | -19.1% |
| Amounts receivable within one year | 40/41 | €48,431 | €39,909 | -€8,523 | -17.6% |
| Trade receivables | 40 | €9,258 | €1,768 | -€7,490 | -80.9% |
| Other amounts receivable | 41 | €39,173 | €38,141 | -€1,032 | -2.6% |
| Cash at bank and in hand | 54/58 | €14 | €48 | +€34 | +242.4% |
| Deferred charges and accrued income | 490/1 | €934 | - | -€934 | |
| Total equity and liabilities | 10/49 | €216,292 | €199,165 | -€17,127 | -7.9% |
| Equity | 10/15 | €81,077 | €83,888 | +€2,810 | +3.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €15,714 | €15,714 | = | 0.0% |
| 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 | €13,854 | €13,854 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,163 | €61,973 | +€2,810 | +4.7% |
| Amounts payable | 17/49 | €135,214 | €115,278 | -€19,937 | -14.7% |
| Amounts payable after more than one year | 17 | €98,525 | €75,568 | -€22,957 | -23.3% |
| Financial debts | 170/4 | €98,525 | €75,568 | -€22,957 | -23.3% |
| Amounts payable within one year | 42/48 | €36,689 | €39,710 | +€3,021 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €22,784 | €25,106 | +€2,322 | +10.2% |
| Trade debts | 44 | €12,402 | €11,202 | -€1,200 | -9.7% |
| Suppliers | 440/4 | €12,402 | €11,202 | -€1,200 | -9.7% |
| Taxes, remuneration and social security | 45 | €1,503 | €3,402 | +€1,899 | +126.3% |
| Taxes | 450/3 | €1,503 | €3,402 | +€1,899 | +126.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,750 | €7,704 | -€6,046 | -44.0% |
| Other operating charges | 640/8 | €451 | €937 | +€487 | +108.0% |
| Gross operating margin | 9900 | €19,527 | €17,512 | -€2,016 | -10.3% |
| Operating profit (loss) | 9901 | €5,327 | €8,871 | +€3,543 | +66.5% |
| Financial income | 75/76B | €2,233 | €1,985 | -€248 | -11.1% |
| Recurring financial income | 75 | €2,233 | €1,985 | -€248 | -11.1% |
| Financial charges | 65/66B | €8,142 | €6,146 | -€1,996 | -24.5% |
| Recurring financial charges | 65 | €8,142 | €6,146 | -€1,996 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | -€582 | €4,709 | +€5,291 | |
| Income taxes | 67/77 | €1,340 | €1,899 | +€559 | +41.7% |
| Profit (loss) for the period | 9904 | -€1,922 | €2,810 | +€4,732 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,922 | €2,810 | +€4,732 |
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 7 October 2026 via checked.be.