STEELDUXX: 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.
STEELDUXX
Largest movements
- Current investments -€1.0m
down €1.0m (-71.9%), from €1.4m to €394,493
- Cash +€447,067
up €447,067 (+20.0%), from €2.2m to €2.7m
mainly Net result for the year (+€1.3m) and Current investments (+€1.0m)
- Receivables within one year -€255,936
down €255,936 (-3.9%), from €6.6m to €6.3m
of which Other amounts receivable: -€729,873
- Accrued charges and deferred income -€1.7m
down €1.7m (-62.9%), from €2.7m to €1.0m
- Reserves +€1.3m
up €1.3m (+29.5%), from €4.3m to €5.5m
of which Distributable reserves: +€832,287
- Current portion of long-term debt -€450,850
no longer reported in 2025 (was €450,850)
- Trade debts +€184,600
up €184,600 (+5.9%), from €3.1m to €3.3m
- Gross operating margin +€200,165
up €200,165 (+5.9%), from €3.4m to €3.6m
- Depreciation +€85,726
up €85,726 (+83.8%), from €102,329 to €188,055
- Financial income -€81,115
down €81,115 (-40.5%), from €200,515 to €119,400
of which Financial income: -€105,800
- Financial charges +€72,002
up €72,002 (+157.9%), from €45,611 to €117,613
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 | €11,110,675 | €10,349,366 | -€761,309 | -6.9% |
| Fixed assets | 21/28 | €850,915 | €919,214 | +€68,299 | +8.0% |
| Intangible fixed assets | 21 | €304,916 | €404,078 | +€99,162 | +32.5% |
| Tangible fixed assets | 22/27 | €519,916 | €489,054 | -€30,863 | -5.9% |
| Land and buildings | 22 | €9,584 | €2,423 | -€7,161 | -74.7% |
| Plant, machinery and equipment | 23 | €13,662 | €43,491 | +€29,829 | +218.3% |
| Furniture and vehicles | 24 | €496,671 | €443,140 | -€53,530 | -10.8% |
| Financial fixed assets | 28 | €26,083 | €26,083 | = | 0.0% |
| Current assets | 29/58 | €10,259,760 | €9,430,152 | -€829,608 | -8.1% |
| Amounts receivable within one year | 40/41 | €6,587,490 | €6,331,554 | -€255,936 | -3.9% |
| Trade receivables | 40 | €5,282,977 | €5,756,913 | +€473,937 | +9.0% |
| Other amounts receivable | 41 | €1,304,513 | €574,641 | -€729,873 | -55.9% |
| Current investments | 50/53 | €1,405,296 | €394,493 | -€1.0m | -71.9% |
| Cash at bank and in hand | 54/58 | €2,239,016 | €2,686,084 | +€447,067 | +20.0% |
| Deferred charges and accrued income | 490/1 | €27,958 | €18,021 | -€9,937 | -35.5% |
| Total equity and liabilities | 10/49 | €11,110,675 | €10,349,366 | -€761,309 | -6.9% |
| Equity | 10/15 | €4,598,122 | €5,851,409 | +€1.3m | +27.3% |
| Contributions | 10/11 | €343,000 | €343,000 | = | 0.0% |
| Capital | 10 | €343,000 | €343,000 | = | 0.0% |
| Issued capital | 100 | €343,000 | €343,000 | = | 0.0% |
| Reserves | 13 | €4,255,122 | €5,508,409 | +€1.3m | +29.5% |
| Non-distributable reserves | 130/1 | €34,300 | €34,300 | = | 0.0% |
| Legal reserve | 130 | €34,300 | €34,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €465,625 | €886,625 | +€421,000 | +90.4% |
| Distributable reserves | 133 | €3,755,197 | €4,587,484 | +€832,287 | +22.2% |
| Amounts payable | 17/49 | €6,512,553 | €4,497,957 | -€2.0m | -30.9% |
| Amounts payable within one year | 42/48 | €3,774,711 | €3,483,142 | -€291,569 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €450,850 | - | -€450,850 | |
| Trade debts | 44 | €3,142,789 | €3,327,389 | +€184,600 | +5.9% |
| Suppliers | 440/4 | €3,142,789 | €3,327,389 | +€184,600 | +5.9% |
| Taxes, remuneration and social security | 45 | €180,512 | €155,753 | -€24,759 | -13.7% |
| Remuneration and social security | 454/9 | €180,512 | €155,753 | -€24,759 | -13.7% |
| Other amounts payable | 47/48 | €561 | - | -€561 | |
| Accrued charges and deferred income | 492/3 | €2,737,842 | €1,014,815 | -€1.7m | -62.9% |
| Remuneration, social security and pensions | 62 | €1,596,254 | €1,615,771 | +€19,517 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,329 | €188,055 | +€85,726 | +83.8% |
| Other operating charges | 640/8 | €43,903 | €11,748 | -€32,155 | -73.2% |
| Non-recurring operating charges | 66A | €10,356 | €4,202 | -€6,154 | -59.4% |
| Gross operating margin | 9900 | €3,399,019 | €3,599,184 | +€200,165 | +5.9% |
| Operating profit (loss) | 9901 | €1,646,178 | €1,779,409 | +€133,230 | +8.1% |
| Financial income | 75/76B | €200,515 | €119,400 | -€81,115 | -40.5% |
| Recurring financial income | 75 | €200,515 | €94,715 | -€105,800 | -52.8% |
| Non-recurring financial income | 76B | - | €24,684 | +€24,684 | |
| Financial charges | 65/66B | €45,611 | €117,613 | +€72,002 | +157.9% |
| Recurring financial charges | 65 | €45,611 | €117,613 | +€72,002 | +157.9% |
| Profit (loss) for the period before taxes | 9903 | €1,801,082 | €1,781,195 | -€19,887 | -1.1% |
| Income taxes | 67/77 | €473,334 | €464,791 | -€8,543 | -1.8% |
| Profit (loss) for the period | 9904 | €1,327,748 | €1,316,404 | -€11,344 | -0.9% |
| Transfer from tax-exempt reserves | 789 | €84,200 | - | -€84,200 | |
| Transfer to tax-exempt reserves | 689 | - | €421,000 | +€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,411,948 | €895,404 | -€516,544 | -36.6% |
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 12 October 2026 via checked.be.