STEELDERM: 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.
STEELDERM
Largest movements
- Tangible fixed assets -€23,199
down €23,199 (-4.9%), from €474,419 to €451,220
of which Land and buildings: -€20,808
- Intangible fixed assets -€15,000
down €15,000 (-23.5%), from €63,750 to €48,750
- Receivables within one year -€13,359
down €13,359 (-7.5%), from €177,463 to €164,104
of which Other amounts receivable: -€22,983
- Debts after one year -€57,713
down €57,713 (-11.1%), from €521,676 to €463,963
- Profit (loss) carried forward -€18,919
down €18,919 (-9.4%), from €201,558 to €182,639
- Contributions +€15,600
up €15,600 (+520.0%), from €3,000 to €18,600
- Current portion of long-term debt +€14,732
up €14,732 (+34.3%), from €42,981 to €57,713
- Gross operating margin +€6,405
up €6,405 (+4.5%), from €143,366 to €149,771
- Depreciation -€4,052
down €4,052 (-9.1%), from €44,361 to €40,309
- Taxes +€2,718
up €2,718 (+12.3%), from €22,158 to €24,876
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 | €785,228 | €739,516 | -€45,712 | -5.8% |
| Fixed assets | 21/28 | €538,169 | €499,970 | -€38,199 | -7.1% |
| Intangible fixed assets | 21 | €63,750 | €48,750 | -€15,000 | -23.5% |
| Tangible fixed assets | 22/27 | €474,419 | €451,220 | -€23,199 | -4.9% |
| Land and buildings | 22 | €466,140 | €445,333 | -€20,808 | -4.5% |
| Furniture and vehicles | 24 | €8,278 | €5,887 | -€2,392 | -28.9% |
| Current assets | 29/58 | €247,060 | €239,546 | -€7,513 | -3.0% |
| Amounts receivable within one year | 40/41 | €177,463 | €164,104 | -€13,359 | -7.5% |
| Trade receivables | 40 | - | €9,623 | +€9,623 | |
| Other amounts receivable | 41 | €177,463 | €154,481 | -€22,983 | -13.0% |
| Cash at bank and in hand | 54/58 | €58,966 | €64,753 | +€5,788 | +9.8% |
| Deferred charges and accrued income | 490/1 | €10,630 | €10,689 | +€59 | +0.6% |
| Total equity and liabilities | 10/49 | €785,228 | €739,516 | -€45,712 | -5.8% |
| Equity | 10/15 | €204,558 | €201,239 | -€3,319 | -1.6% |
| Contributions | 10/11 | €3,000 | €18,600 | +€15,600 | +520.0% |
| Profit (loss) carried forward | 14 | €201,558 | €182,639 | -€18,919 | -9.4% |
| Amounts payable | 17/49 | €580,670 | €538,276 | -€42,394 | -7.3% |
| Amounts payable after more than one year | 17 | €521,676 | €463,963 | -€57,713 | -11.1% |
| Financial debts | 170/4 | €521,676 | €463,963 | -€57,713 | -11.1% |
| Amounts payable within one year | 42/48 | €58,994 | €74,314 | +€15,320 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €42,981 | €57,713 | +€14,732 | +34.3% |
| Trade debts | 44 | €3,080 | €5,687 | +€2,607 | +84.6% |
| Suppliers | 440/4 | €3,080 | €5,687 | +€2,607 | +84.6% |
| Taxes, remuneration and social security | 45 | €12,932 | €10,913 | -€2,019 | -15.6% |
| Taxes | 450/3 | €12,932 | €10,913 | -€2,019 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,361 | €40,309 | -€4,052 | -9.1% |
| Other operating charges | 640/8 | €3,644 | €3,550 | -€93 | -2.6% |
| Gross operating margin | 9900 | €143,366 | €149,771 | +€6,405 | +4.5% |
| Operating profit (loss) | 9901 | €95,362 | €105,912 | +€10,550 | +11.1% |
| Financial income | 75/76B | €9,910 | €9,247 | -€663 | -6.7% |
| Recurring financial income | 75 | €9,910 | €9,247 | -€663 | -6.7% |
| Financial charges | 65/66B | €9,860 | €9,202 | -€658 | -6.7% |
| Recurring financial charges | 65 | €9,860 | €9,202 | -€658 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €95,412 | €105,957 | +€10,545 | +11.1% |
| Income taxes | 67/77 | €22,158 | €24,876 | +€2,718 | +12.3% |
| Profit (loss) for the period | 9904 | €73,254 | €81,081 | +€7,827 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,254 | €81,081 | +€7,827 | +10.7% |
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 7 October 2026 via checked.be.