STEEL CUBE: 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.
STEEL CUBE
Largest movements
- Cash +€17,879
up €17,879 (+25.7%), from €69,549 to €87,428
mainly Net result for the year (+€62,272) and Depreciation (+€42,231)
- Reserves +€62,272
up €62,272 (+19.2%), from €323,812 to €386,084
of which Distributable reserves: +€62,272
- Debts after one year -€55,226
down €55,226 (-8.7%), from €637,067 to €581,841
- Depreciation -€25,905
down €25,905 (-38.0%), from €68,136 to €42,231
- Gross operating margin +€6,567
up €6,567 (+4.5%), from €145,715 to €152,283
- Taxes +€5,168
up €5,168 (+27.1%), from €19,046 to €24,215
- Other operating charges +€1,555
up €1,555 (+29.2%), from €5,318 to €6,874
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 | €1,090,770 | €1,101,163 | +€10,392 | +1.0% |
| Fixed assets | 21/28 | €995,766 | €994,637 | -€1,129 | -0.1% |
| Tangible fixed assets | 22/27 | €995,766 | €994,637 | -€1,129 | -0.1% |
| Land and buildings | 22 | €969,125 | €975,498 | +€6,373 | +0.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €26,641 | €19,140 | -€7,502 | -28.2% |
| Current assets | 29/58 | €95,004 | €106,525 | +€11,521 | +12.1% |
| Amounts receivable within one year | 40/41 | €25,456 | €19,098 | -€6,358 | -25.0% |
| Trade receivables | 40 | €19,502 | €19,098 | -€404 | -2.1% |
| Other amounts receivable | 41 | €5,954 | €0 | -€5,954 | -100% |
| Cash at bank and in hand | 54/58 | €69,549 | €87,428 | +€17,879 | +25.7% |
| Total equity and liabilities | 10/49 | €1,090,770 | €1,101,163 | +€10,392 | +1.0% |
| Equity | 10/15 | €343,812 | €406,084 | +€62,272 | +18.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €323,812 | €386,084 | +€62,272 | +19.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €321,812 | €384,084 | +€62,272 | +19.4% |
| Amounts payable | 17/49 | €746,959 | €695,079 | -€51,880 | -6.9% |
| Amounts payable after more than one year | 17 | €637,067 | €581,841 | -€55,226 | -8.7% |
| Financial debts | 170/4 | €637,067 | €581,841 | -€55,226 | -8.7% |
| Amounts payable within one year | 42/48 | €109,892 | €113,237 | +€3,345 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €53,957 | €55,226 | +€1,268 | +2.4% |
| Trade debts | 44 | €1,090 | €699 | -€391 | -35.9% |
| Suppliers | 440/4 | €1,090 | €699 | -€391 | -35.9% |
| Taxes, remuneration and social security | 45 | €8,639 | €14,109 | +€5,469 | +63.3% |
| Taxes | 450/3 | €8,639 | €14,109 | +€5,469 | +63.3% |
| Other amounts payable | 47/48 | €46,205 | €43,204 | -€3,001 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,136 | €42,231 | -€25,905 | -38.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€307 | -€307 | |
| Other operating charges | 640/8 | €5,318 | €6,874 | +€1,555 | +29.2% |
| Gross operating margin | 9900 | €145,715 | €152,283 | +€6,567 | +4.5% |
| Operating profit (loss) | 9901 | €72,261 | €103,485 | +€31,224 | +43.2% |
| Financial income | 75/76B | €26 | €12 | -€13 | -51.1% |
| Recurring financial income | 75 | €26 | €12 | -€13 | -51.1% |
| Financial charges | 65/66B | €16,567 | €17,010 | +€443 | +2.7% |
| Recurring financial charges | 65 | €16,567 | €17,010 | +€443 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €55,720 | €86,487 | +€30,767 | +55.2% |
| Income taxes | 67/77 | €19,046 | €24,215 | +€5,168 | +27.1% |
| Profit (loss) for the period | 9904 | €36,674 | €62,272 | +€25,599 | +69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,674 | €62,272 | +€25,599 | +69.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.