STEELO: 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.
STEELO
Largest movements
- Tangible fixed assets -€7,388
down €7,388 (-54.6%), from €13,528 to €6,140
- Cash -€1,344
down €1,344 (-52.4%), from €2,564 to €1,220
mainly Trade debts (-€5,474) and Net result for the year (-€3,579)
- Receivables within one year -€827
down €827 (-72.6%), from €1,140 to €313
of which Other amounts receivable: -€667
- Formation expenses -€308
down €308 (-92.3%), from €333 to €26
- Trade debts -€5,474
down €5,474 (-75.7%), from €7,231 to €1,757
- Profit (loss) carried forward -€3,579
down €3,579 (-21.5%), from -€16,657 to -€20,236
- Other debts -€1,715
down €1,715 (-7.8%), from €22,090 to €20,376
- Tax, wage and social debts +€900
up €900 (+100.0%), from €900 to €1,800
- Depreciation -€1,968
down €1,968 (-74.0%), from €2,660 to €692
- Purchases and services -€1,874
down €1,874 (-8.6%), from €21,895 to €20,021
- Turnover -€1,816
down €1,816 (-9.1%), from €19,929 to €18,113
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 | €17,565 | €7,697 | -€9,867 | -56.2% |
| Formation expenses | 20 | €333 | €26 | -€308 | -92.3% |
| Fixed assets | 21/28 | €13,528 | €6,140 | -€7,388 | -54.6% |
| Tangible fixed assets | 22/27 | €13,528 | €6,140 | -€7,388 | -54.6% |
| Furniture and vehicles | 24 | €13,528 | €6,140 | -€7,388 | -54.6% |
| Current assets | 29/58 | €3,703 | €1,532 | -€2,171 | -58.6% |
| Amounts receivable within one year | 40/41 | €1,140 | €313 | -€827 | -72.6% |
| Trade receivables | 40 | €160 | - | -€160 | |
| Other amounts receivable | 41 | €980 | €313 | -€667 | -68.1% |
| Cash at bank and in hand | 54/58 | €2,564 | €1,220 | -€1,344 | -52.4% |
| Total equity and liabilities | 10/49 | €17,565 | €7,697 | -€9,867 | -56.2% |
| Equity | 10/15 | -€12,657 | -€16,236 | -€3,579 | -28.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,657 | -€20,236 | -€3,579 | -21.5% |
| Amounts payable | 17/49 | €30,221 | €23,933 | -€6,288 | -20.8% |
| Amounts payable within one year | 42/48 | €30,221 | €23,933 | -€6,288 | -20.8% |
| Trade debts | 44 | €7,231 | €1,757 | -€5,474 | -75.7% |
| Suppliers | 440/4 | €7,231 | €1,757 | -€5,474 | -75.7% |
| Taxes, remuneration and social security | 45 | €900 | €1,800 | +€900 | +100.0% |
| Remuneration and social security | 454/9 | €900 | €1,800 | +€900 | +100.0% |
| Other amounts payable | 47/48 | €22,090 | €20,376 | -€1,715 | -7.8% |
| Turnover | 70 | €19,929 | €18,113 | -€1,816 | -9.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €21,895 | €20,021 | -€1,874 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,660 | €692 | -€1,968 | -74.0% |
| Other operating charges | 640/8 | €730 | €838 | +€108 | +14.8% |
| Gross operating margin | 9900 | -€1,966 | -€1,908 | +€58 | +3.0% |
| Operating profit (loss) | 9901 | -€5,356 | -€3,438 | +€1,918 | +35.8% |
| Financial charges | 65/66B | €138 | €141 | +€3 | +2.0% |
| Recurring financial charges | 65 | €138 | €141 | +€3 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,494 | -€3,579 | +€1,915 | +34.9% |
| Profit (loss) for the period | 9904 | -€5,494 | -€3,579 | +€1,915 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,494 | -€3,579 | +€1,915 | +34.9% |
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.