STEELAND: 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.
STEELAND
Largest movements
- Receivables within one year +€32,681
up €32,681 (+180.4%), from €18,115 to €50,796
of which Trade receivables: +€33,056
- Cash -€27,120
down €27,120 (-60.7%), from €44,649 to €17,529
mainly Receivables within one year (-€32,681) and Investment in fixed assets (net) (-€27,571)
- Tangible fixed assets +€10,585
up €10,585 (+8.8%), from €120,171 to €130,756
of which Land and buildings: +€19,961
- Reserves +€20,331
up €20,331 (+22.7%), from €89,633 to €109,964
of which Distributable reserves: +€20,331
- Debts after one year -€11,354
down €11,354 (-24.8%), from €45,796 to €34,442
- Tax, wage and social debts +€5,694
up €5,694 (+542.3%), from €1,050 to €6,744
- Other debts +€3,080
up €3,080 (+90.2%), from €3,415 to €6,495
- Purchases and services -€52,861
down €52,861 (-22.2%), from €238,425 to €185,564
- Turnover -€35,486
down €35,486 (-13.1%), from €271,116 to €235,630
- Gross operating margin +€17,225
up €17,225 (+52.4%), from €32,841 to €50,066
- Taxes +€5,017
up €5,017 (+134.6%), from €3,727 to €8,744
- Financial charges -€3,273
down €3,273 (-57.9%), from €5,653 to €2,380
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 | €183,831 | €200,093 | +€16,262 | +8.8% |
| Fixed assets | 21/28 | €120,171 | €130,756 | +€10,585 | +8.8% |
| Tangible fixed assets | 22/27 | €120,171 | €130,756 | +€10,585 | +8.8% |
| Land and buildings | 22 | €84,211 | €104,172 | +€19,961 | +23.7% |
| Plant, machinery and equipment | 23 | €2,504 | €1,819 | -€685 | -27.4% |
| Furniture and vehicles | 24 | €33,456 | €24,765 | -€8,691 | -26.0% |
| Current assets | 29/58 | €63,660 | €69,337 | +€5,677 | +8.9% |
| Amounts receivable within one year | 40/41 | €18,115 | €50,796 | +€32,681 | +180.4% |
| Trade receivables | 40 | €16,717 | €49,773 | +€33,056 | +197.7% |
| Other amounts receivable | 41 | €1,398 | €1,023 | -€375 | -26.8% |
| Cash at bank and in hand | 54/58 | €44,649 | €17,529 | -€27,120 | -60.7% |
| Deferred charges and accrued income | 490/1 | €896 | €1,012 | +€116 | +12.9% |
| Total equity and liabilities | 10/49 | €183,831 | €200,093 | +€16,262 | +8.8% |
| Equity | 10/15 | €108,233 | €128,564 | +€20,331 | +18.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,633 | €109,964 | +€20,331 | +22.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,674 | €1,674 | = | 0.0% |
| Distributable reserves | 133 | €86,099 | €106,430 | +€20,331 | +23.6% |
| Amounts payable | 17/49 | €75,598 | €71,529 | -€4,069 | -5.4% |
| Amounts payable after more than one year | 17 | €45,796 | €34,442 | -€11,354 | -24.8% |
| Financial debts | 170/4 | €45,796 | €34,442 | -€11,354 | -24.8% |
| Amounts payable within one year | 42/48 | €27,127 | €36,194 | +€9,067 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €10,990 | €11,354 | +€364 | +3.3% |
| Trade debts | 44 | €11,672 | €11,601 | -€71 | -0.6% |
| Suppliers | 440/4 | €11,672 | €11,601 | -€71 | -0.6% |
| Taxes, remuneration and social security | 45 | €1,050 | €6,744 | +€5,694 | +542.3% |
| Taxes | 450/3 | €1,050 | €6,744 | +€5,694 | +542.3% |
| Other amounts payable | 47/48 | €3,415 | €6,495 | +€3,080 | +90.2% |
| Accrued charges and deferred income | 492/3 | €2,675 | €893 | -€1,782 | -66.6% |
| Turnover | 70 | €271,116 | €235,630 | -€35,486 | -13.1% |
| Non-recurring operating income | 76A | €150 | - | -€150 | |
| Goods, raw materials, services and sundry goods | 60/61 | €238,425 | €185,564 | -€52,861 | -22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,090 | €16,986 | +€896 | +5.6% |
| Other operating charges | 640/8 | €591 | €1,223 | +€632 | +106.9% |
| Gross operating margin | 9900 | €32,841 | €50,066 | +€17,225 | +52.4% |
| Operating profit (loss) | 9901 | €16,160 | €31,857 | +€15,697 | +97.1% |
| Financial income | 75/76B | €1,641 | €2,098 | +€457 | +27.8% |
| Recurring financial income | 75 | €1,641 | €2,098 | +€457 | +27.8% |
| Financial charges | 65/66B | €5,653 | €2,380 | -€3,273 | -57.9% |
| Recurring financial charges | 65 | €5,653 | €2,380 | -€3,273 | -57.9% |
| Profit (loss) for the period before taxes | 9903 | €12,148 | €31,575 | +€19,427 | +159.9% |
| Income taxes | 67/77 | €3,727 | €8,744 | +€5,017 | +134.6% |
| Profit (loss) for the period | 9904 | €8,421 | €22,831 | +€14,410 | +171.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,421 | €22,831 | +€14,410 | +171.1% |
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 5 October 2026 via checked.be.