STEELANDT: 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.
STEELANDT
Largest movements
- Receivables within one year +€49,720
up €49,720 (+12.9%), from €386,900 to €436,619
of which Trade receivables: +€49,677
- Tangible fixed assets -€34,889
down €34,889 (-8.8%), from €395,563 to €360,674
of which Land and buildings: -€34,855
- Profit (loss) carried forward +€24,130
up €24,130 (+54.6%), from -€44,189 to -€20,058
- Debts after one year -€22,615
down €22,615 (-3.5%), from €651,252 to €628,637
of which Other amounts payable: -€567,362
- Other debts +€11,787
up €11,787 (+17.9%), from €66,021 to €77,807
- Gross operating margin +€90,752
up €90,752, from -€16,887 to €73,865
- Other operating charges +€3,077
up €3,077 (+40.0%), from €7,685 to €10,762
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 | €1,116,460 | €1,129,190 | +€12,730 | +1.1% |
| Fixed assets | 21/28 | €395,588 | €360,699 | -€34,889 | -8.8% |
| Tangible fixed assets | 22/27 | €395,563 | €360,674 | -€34,889 | -8.8% |
| Land and buildings | 22 | €391,590 | €356,736 | -€34,855 | -8.9% |
| Plant, machinery and equipment | 23 | €3,785 | €2,710 | -€1,074 | -28.4% |
| Furniture and vehicles | 24 | €188 | €1,228 | +€1,040 | +553% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €720,872 | €768,491 | +€47,619 | +6.6% |
| Stocks and contracts in progress | 3 | €331,270 | €327,770 | -€3,500 | -1.1% |
| Stocks | 30/36 | €331,270 | €327,770 | -€3,500 | -1.1% |
| Amounts receivable within one year | 40/41 | €386,900 | €436,619 | +€49,720 | +12.9% |
| Trade receivables | 40 | €386,900 | €436,577 | +€49,677 | +12.8% |
| Other amounts receivable | 41 | - | €42 | +€42 | |
| Cash at bank and in hand | 54/58 | €871 | €3,852 | +€2,981 | +342% |
| Deferred charges and accrued income | 490/1 | €1,832 | €250 | -€1,582 | -86.4% |
| Total equity and liabilities | 10/49 | €1,116,460 | €1,129,190 | +€12,730 | +1.1% |
| Equity | 10/15 | -€33,846 | -€9,715 | +€24,130 | +71.3% |
| Contributions | 10/11 | €7,445 | €7,445 | = | 0.0% |
| Reserves | 13 | €2,898 | €2,898 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,898 | €2,898 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€44,189 | -€20,058 | +€24,130 | +54.6% |
| Amounts payable | 17/49 | €1,150,306 | €1,138,905 | -€11,401 | -1.0% |
| Amounts payable after more than one year | 17 | €651,252 | €628,637 | -€22,615 | -3.5% |
| Financial debts | 170/4 | €83,891 | €628,637 | +€544,747 | +649% |
| Other amounts payable | 178/9 | €567,362 | - | -€567,362 | |
| Amounts payable within one year | 42/48 | €499,054 | €509,998 | +€10,944 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €32,615 | €22,615 | -€10,000 | -30.7% |
| Trade debts | 44 | €396,158 | €404,477 | +€8,319 | +2.1% |
| Suppliers | 440/4 | €396,158 | €404,477 | +€8,319 | +2.1% |
| Taxes, remuneration and social security | 45 | €4,260 | €5,098 | +€838 | +19.7% |
| Taxes | 450/3 | €4,260 | €5,098 | +€838 | +19.7% |
| Other amounts payable | 47/48 | €66,021 | €77,807 | +€11,787 | +17.9% |
| Accrued charges and deferred income | 492/3 | €0 | €270 | +€270 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,116 | €36,125 | +€9 | 0.0% |
| Other operating charges | 640/8 | €7,685 | €10,762 | +€3,077 | +40.0% |
| Gross operating margin | 9900 | -€16,887 | €73,865 | +€90,752 | |
| Operating profit (loss) | 9901 | -€60,688 | €26,978 | +€87,665 | |
| Financial income | 75/76B | €13 | €0 | -€13 | -100% |
| Recurring financial income | 75 | €13 | €0 | -€13 | -100% |
| Financial charges | 65/66B | €3,457 | €2,847 | -€609 | -17.6% |
| Recurring financial charges | 65 | €3,457 | €2,847 | -€609 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | -€64,131 | €24,130 | +€88,261 | |
| Profit (loss) for the period | 9904 | -€64,131 | €24,130 | +€88,261 | |
| Profit (loss) for the period to be appropriated | 9905 | -€64,131 | €24,130 | +€88,261 |
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 27 October 2026 via checked.be.