STEELONE: 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.
STEELONE
Largest movements
- Receivables within one year +€369,258
up €369,258 (+32.5%), from €1.1m to €1.5m
of which Trade receivables: +€405,784
- Stocks and contracts -€152,666
down €152,666 (-57.6%), from €265,051 to €112,385
- Cash +€145,039
up €145,039 (+121%), from €119,501 to €264,540
mainly Trade debts (+€331,986) and Stocks and contracts (+€152,666)
- Trade debts +€331,986
up €331,986 (+60.0%), from €553,013 to €884,999
- Profit (loss) carried forward +€20,983
up €20,983 (+4.3%), from €483,834 to €504,817
- Gross operating margin -€311,316
down €311,316 (-72.6%), from €428,768 to €117,452
- Taxes -€82,602
down €82,602 (-91.5%), from €90,299 to €7,697
- Financial charges -€12,851
down €12,851 (-16.5%), from €77,749 to €64,898
- Staff costs +€9,922
new in 2025: €9,922
- Depreciation +€7,415
up €7,415 (+238%), from €3,111 to €10,526
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 | €1,554,520 | €1,906,634 | +€352,115 | +22.7% |
| Fixed assets | 21/28 | €34,335 | €23,809 | -€10,526 | -30.7% |
| Tangible fixed assets | 22/27 | €28,050 | €17,524 | -€10,526 | -37.5% |
| Plant, machinery and equipment | 23 | €1,035 | €29 | -€1,006 | -97.2% |
| Furniture and vehicles | 24 | €27,015 | €17,495 | -€9,520 | -35.2% |
| Financial fixed assets | 28 | €6,285 | €6,285 | = | 0.0% |
| Current assets | 29/58 | €1,520,184 | €1,882,825 | +€362,641 | +23.9% |
| Stocks and contracts in progress | 3 | €265,051 | €112,385 | -€152,666 | -57.6% |
| Stocks | 30/36 | €265,051 | €112,385 | -€152,666 | -57.6% |
| Amounts receivable within one year | 40/41 | €1,134,882 | €1,504,140 | +€369,258 | +32.5% |
| Trade receivables | 40 | €915,344 | €1,321,128 | +€405,784 | +44.3% |
| Other amounts receivable | 41 | €219,539 | €183,012 | -€36,526 | -16.6% |
| Cash at bank and in hand | 54/58 | €119,501 | €264,540 | +€145,039 | +121% |
| Deferred charges and accrued income | 490/1 | €751 | €1,760 | +€1,010 | +135% |
| Total equity and liabilities | 10/49 | €1,554,520 | €1,906,634 | +€352,115 | +22.7% |
| Equity | 10/15 | €903,955 | €924,939 | +€20,983 | +2.3% |
| Contributions | 10/11 | €420,121 | €420,121 | = | 0.0% |
| Contributions outside capital | 11 | €420,121 | - | -€420,121 | |
| Other | 1109/19 | €420,121 | - | -€420,121 | |
| Profit (loss) carried forward | 14 | €483,834 | €504,817 | +€20,983 | +4.3% |
| Amounts payable | 17/49 | €650,565 | €981,696 | +€331,131 | +50.9% |
| Amounts payable within one year | 42/48 | €650,565 | €981,696 | +€331,131 | +50.9% |
| Trade debts | 44 | €553,013 | €884,999 | +€331,986 | +60.0% |
| Suppliers | 440/4 | €553,013 | €884,999 | +€331,986 | +60.0% |
| Taxes, remuneration and social security | 45 | €97,552 | €96,061 | -€1,490 | -1.5% |
| Taxes | 450/3 | €90,299 | €88,523 | -€1,776 | -2.0% |
| Remuneration and social security | 454/9 | €7,253 | €7,538 | +€285 | +3.9% |
| Other amounts payable | 47/48 | - | €635 | +€635 | |
| Remuneration, social security and pensions | 62 | - | €9,922 | +€9,922 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,111 | €10,526 | +€7,415 | +238% |
| Other operating charges | 640/8 | €3,468 | €3,426 | -€42 | -1.2% |
| Gross operating margin | 9900 | €428,768 | €117,452 | -€311,316 | -72.6% |
| Operating profit (loss) | 9901 | €422,190 | €93,579 | -€328,611 | -77.8% |
| Financial income | 75/76B | €612 | €0 | -€612 | -100.0% |
| Recurring financial income | 75 | €612 | €0 | -€612 | -100.0% |
| Financial charges | 65/66B | €77,749 | €64,898 | -€12,851 | -16.5% |
| Recurring financial charges | 65 | €77,749 | €64,898 | -€12,851 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €345,053 | €28,681 | -€316,373 | -91.7% |
| Income taxes | 67/77 | €90,299 | €7,697 | -€82,602 | -91.5% |
| Profit (loss) for the period | 9904 | €254,754 | €20,983 | -€233,771 | -91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €254,754 | €20,983 | -€233,771 | -91.8% |
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 19 October 2026 via checked.be.