STEEL ENGINEERING: 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 ENGINEERING
Largest movements
- Cash -€26,390
down €26,390 (-86.0%), from €30,678 to €4,288
mainly Debts after one year (-€26,356) and Receivables within one year (-€14,042)
- Tangible fixed assets -€20,461
down €20,461 (-27.4%), from €74,754 to €54,293
- Receivables within one year +€14,042
up €14,042 (+42.1%), from €33,375 to €47,417
of which Trade receivables: +€13,132
- Deferred charges and accrued income -€5,065
down €5,065 (-33.7%), from €15,033 to €9,968
- Intangible fixed assets -€2,085
down €2,085 (-57.3%), from €3,641 to €1,557
- Debts after one year -€26,356
down €26,356 (-47.9%), from €55,071 to €28,715
- Profit (loss) carried forward -€10,506
down €10,506 (-38.7%), from €27,123 to €16,617
- Accrued charges and deferred income +€9,563
new in 2025: €9,563
- Trade debts -€5,551
down €5,551 (-33.1%), from €16,785 to €11,235
- Tax, wage and social debts -€2,980
down €2,980 (-36.9%), from €8,078 to €5,098
- Gross operating margin -€27,169
down €27,169 (-61.5%), from €44,153 to €16,984
- Taxes -€5,461
down €5,461, from €5,367 to -€94
- Financial charges -€1,762
down €1,762 (-31.1%), from €5,672 to €3,911
- Depreciation -€678
down €678 (-2.9%), from €23,224 to €22,546
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 | €157,844 | €117,885 | -€39,959 | -25.3% |
| Fixed assets | 21/28 | €78,758 | €56,212 | -€22,546 | -28.6% |
| Intangible fixed assets | 21 | €3,641 | €1,557 | -€2,085 | -57.3% |
| Tangible fixed assets | 22/27 | €74,754 | €54,293 | -€20,461 | -27.4% |
| Land and buildings | 22 | €52,319 | €42,425 | -€9,894 | -18.9% |
| Plant, machinery and equipment | 23 | €878 | €618 | -€260 | -29.6% |
| Furniture and vehicles | 24 | €2,747 | €968 | -€1,778 | -64.8% |
| Leasing and similar rights | 25 | €18,810 | €10,281 | -€8,529 | -45.3% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €79,086 | €61,673 | -€17,413 | -22.0% |
| Amounts receivable within one year | 40/41 | €33,375 | €47,417 | +€14,042 | +42.1% |
| Trade receivables | 40 | €25,189 | €38,321 | +€13,132 | +52.1% |
| Other amounts receivable | 41 | €8,186 | €9,096 | +€909 | +11.1% |
| Cash at bank and in hand | 54/58 | €30,678 | €4,288 | -€26,390 | -86.0% |
| Deferred charges and accrued income | 490/1 | €15,033 | €9,968 | -€5,065 | -33.7% |
| Total equity and liabilities | 10/49 | €157,844 | €117,885 | -€39,959 | -25.3% |
| Equity | 10/15 | €46,741 | €35,772 | -€10,969 | -23.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €10,640 | €10,640 | = | 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 | €8,780 | €8,780 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,123 | €16,617 | -€10,506 | -38.7% |
| Investment grants | 15 | €2,777 | €2,314 | -€463 | -16.7% |
| Amounts payable | 17/49 | €111,104 | €82,113 | -€28,991 | -26.1% |
| Amounts payable after more than one year | 17 | €55,071 | €28,715 | -€26,356 | -47.9% |
| Financial debts | 170/4 | €55,071 | €28,715 | -€26,356 | -47.9% |
| Amounts payable within one year | 42/48 | €56,033 | €43,835 | -€12,197 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €28,170 | €27,044 | -€1,126 | -4.0% |
| Financial debts | 43 | €3,000 | €459 | -€2,541 | -84.7% |
| Credit institutions | 430/8 | €3,000 | €459 | -€2,541 | -84.7% |
| Trade debts | 44 | €16,785 | €11,235 | -€5,551 | -33.1% |
| Suppliers | 440/4 | €16,785 | €11,235 | -€5,551 | -33.1% |
| Taxes, remuneration and social security | 45 | €8,078 | €5,098 | -€2,980 | -36.9% |
| Taxes | 450/3 | €8,078 | €5,098 | -€2,980 | -36.9% |
| Accrued charges and deferred income | 492/3 | - | €9,563 | +€9,563 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,224 | €22,546 | -€678 | -2.9% |
| Other operating charges | 640/8 | €1,908 | €1,995 | +€86 | +4.5% |
| Gross operating margin | 9900 | €44,153 | €16,984 | -€27,169 | -61.5% |
| Operating profit (loss) | 9901 | €19,020 | -€7,556 | -€26,577 | |
| Financial income | 75/76B | €812 | €867 | +€55 | +6.7% |
| Recurring financial income | 75 | €812 | €867 | +€55 | +6.7% |
| Financial charges | 65/66B | €5,672 | €3,911 | -€1,762 | -31.1% |
| Recurring financial charges | 65 | €5,672 | €3,911 | -€1,762 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €14,160 | -€10,600 | -€24,760 | |
| Income taxes | 67/77 | €5,367 | -€94 | -€5,461 | |
| Profit (loss) for the period | 9904 | €8,793 | -€10,506 | -€19,299 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,793 | -€10,506 | -€19,299 |
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 26 October 2026 via checked.be.