Steel management: 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 management
Largest movements
- Receivables within one year +€30,988
up €30,988 (+50.8%), from €61,050 to €92,039
of which Trade receivables: +€30,718
- Tangible fixed assets -€5,461
down €5,461 (-28.1%), from €19,442 to €13,981
of which Furniture and vehicles: -€4,260
- Cash -€3,551
down €3,551 (-35.1%), from €10,128 to €6,577
mainly Receivables within one year (-€30,988) and Tax, wage and social debts (-€1,946)
- Trade debts +€7,359
new in 2025: €7,359
- Reserves +€6,660
up €6,660 (+15.9%), from €41,908 to €48,568
- Other debts +€5,664
up €5,664 (+19.6%), from €28,899 to €34,564
- Advances received +€4,239
new in 2025: €4,239
- Tax, wage and social debts -€1,946
down €1,946 (-11.6%), from €16,813 to €14,866
of which Taxes: -€5,075
- Gross operating margin -€46,713
down €46,713 (-74.6%), from €62,643 to €15,930
- Taxes -€8,571
down €8,571 (-78.2%), from €10,962 to €2,391
- Depreciation -€2,650
down €2,650 (-32.7%), from €8,111 to €5,461
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 | €90,620 | €112,596 | +€21,976 | +24.3% |
| Fixed assets | 21/28 | €19,442 | €13,981 | -€5,461 | -28.1% |
| Tangible fixed assets | 22/27 | €19,442 | €13,981 | -€5,461 | -28.1% |
| Plant, machinery and equipment | 23 | €2,402 | €1,201 | -€1,201 | -50.0% |
| Furniture and vehicles | 24 | €17,040 | €12,780 | -€4,260 | -25.0% |
| Current assets | 29/58 | €71,178 | €98,615 | +€27,437 | +38.5% |
| Amounts receivable within one year | 40/41 | €61,050 | €92,039 | +€30,988 | +50.8% |
| Trade receivables | 40 | €61,050 | €91,769 | +€30,718 | +50.3% |
| Other amounts receivable | 41 | - | €270 | +€270 | |
| Cash at bank and in hand | 54/58 | €10,128 | €6,577 | -€3,551 | -35.1% |
| Total equity and liabilities | 10/49 | €90,620 | €112,596 | +€21,976 | +24.3% |
| Equity | 10/15 | €44,908 | €51,568 | +€6,660 | +14.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €41,908 | €48,568 | +€6,660 | +15.9% |
| Distributable reserves | 133 | €41,908 | €48,568 | +€6,660 | +15.9% |
| Amounts payable | 17/49 | €45,712 | €61,028 | +€15,316 | +33.5% |
| Amounts payable within one year | 42/48 | €45,712 | €61,028 | +€15,316 | +33.5% |
| Trade debts | 44 | - | €7,359 | +€7,359 | |
| Suppliers | 440/4 | - | €7,359 | +€7,359 | |
| Advances received on contracts in progress | 46 | - | €4,239 | +€4,239 | |
| Taxes, remuneration and social security | 45 | €16,813 | €14,866 | -€1,946 | -11.6% |
| Taxes | 450/3 | €16,813 | €11,738 | -€5,075 | -30.2% |
| Remuneration and social security | 454/9 | - | €3,129 | +€3,129 | |
| Other amounts payable | 47/48 | €28,899 | €34,564 | +€5,664 | +19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,111 | €5,461 | -€2,650 | -32.7% |
| Other operating charges | 640/8 | €1,445 | €1,183 | -€261 | -18.1% |
| Gross operating margin | 9900 | €62,643 | €15,930 | -€46,713 | -74.6% |
| Operating profit (loss) | 9901 | €53,087 | €9,285 | -€43,802 | -82.5% |
| Financial charges | 65/66B | €217 | €234 | +€17 | +7.8% |
| Recurring financial charges | 65 | €217 | €234 | +€17 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €52,870 | €9,051 | -€43,818 | -82.9% |
| Income taxes | 67/77 | €10,962 | €2,391 | -€8,571 | -78.2% |
| Profit (loss) for the period | 9904 | €41,908 | €6,660 | -€35,248 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,908 | €6,660 | -€35,248 | -84.1% |
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 28 October 2026 via checked.be.