STEELPAN: 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.
STEELPAN
Largest movements
- Cash +€11,858
up €11,858 (+29.0%), from €40,928 to €52,786
mainly Depreciation (+€10,312) and Net result for the year (+€7,922)
- Tangible fixed assets -€7,427
down €7,427 (-22.4%), from €33,155 to €25,728
of which Furniture and vehicles: -€7,074
- Deferred charges and accrued income -€6,017
down €6,017 (-84.0%), from €7,161 to €1,144
- Receivables within one year -€5,326
down €5,326 (-39.2%), from €13,583 to €8,258
of which Trade receivables: -€3,322
- Reserves +€7,922
up €7,922 (+13.6%), from €58,109 to €66,031
- Contributions -€7,500
no longer reported in 2025 (was €7,500)
- Accrued charges and deferred income -€6,100
no longer reported in 2025 (was €6,100)
- Debts after one year -€5,090
down €5,090 (-45.2%), from €11,252 to €6,163
- Trade debts +€3,873
up €3,873 (+203%), from €1,907 to €5,780
- Gross operating margin +€2,570
up €2,570 (+12.3%), from €20,943 to €23,513
- Taxes +€1,156
up €1,156 (+43.2%), from €2,675 to €3,831
- Depreciation -€537
down €537 (-5.0%), from €10,850 to €10,312
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 | €95,227 | €87,916 | -€7,311 | -7.7% |
| Fixed assets | 21/28 | €33,555 | €25,728 | -€7,827 | -23.3% |
| Intangible fixed assets | 21 | €400 | - | -€400 | |
| Tangible fixed assets | 22/27 | €33,155 | €25,728 | -€7,427 | -22.4% |
| Furniture and vehicles | 24 | €29,749 | €22,676 | -€7,074 | -23.8% |
| Other tangible fixed assets | 26 | €3,405 | €3,052 | -€353 | -10.4% |
| Current assets | 29/58 | €61,672 | €62,189 | +€516 | +0.8% |
| Amounts receivable within one year | 40/41 | €13,583 | €8,258 | -€5,326 | -39.2% |
| Trade receivables | 40 | €10,388 | €7,066 | -€3,322 | -32.0% |
| Other amounts receivable | 41 | €3,195 | €1,192 | -€2,003 | -62.7% |
| Cash at bank and in hand | 54/58 | €40,928 | €52,786 | +€11,858 | +29.0% |
| Deferred charges and accrued income | 490/1 | €7,161 | €1,144 | -€6,017 | -84.0% |
| Total equity and liabilities | 10/49 | €95,227 | €87,916 | -€7,311 | -7.7% |
| Equity | 10/15 | €65,609 | €66,031 | +€422 | +0.6% |
| Contributions | 10/11 | €7,500 | - | -€7,500 | |
| Reserves | 13 | €58,109 | €66,031 | +€7,922 | +13.6% |
| Distributable reserves | 133 | €58,109 | €66,031 | +€7,922 | +13.6% |
| Amounts payable | 17/49 | €29,618 | €21,885 | -€7,733 | -26.1% |
| Amounts payable after more than one year | 17 | €11,252 | €6,163 | -€5,090 | -45.2% |
| Financial debts | 170/4 | €11,252 | €6,163 | -€5,090 | -45.2% |
| Amounts payable within one year | 42/48 | €12,265 | €15,722 | +€3,457 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €4,918 | €5,090 | +€172 | +3.5% |
| Trade debts | 44 | €1,907 | €5,780 | +€3,873 | +203% |
| Suppliers | 440/4 | €1,907 | €5,780 | +€3,873 | +203% |
| Taxes, remuneration and social security | 45 | €5,440 | €4,852 | -€588 | -10.8% |
| Taxes | 450/3 | €5,440 | €4,852 | -€588 | -10.8% |
| Accrued charges and deferred income | 492/3 | €6,100 | - | -€6,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,850 | €10,312 | -€537 | -5.0% |
| Other operating charges | 640/8 | €834 | €919 | +€85 | +10.2% |
| Gross operating margin | 9900 | €20,943 | €23,513 | +€2,570 | +12.3% |
| Operating profit (loss) | 9901 | €9,259 | €12,282 | +€3,023 | +32.7% |
| Financial income | 75/76B | €0 | €2 | +€2 | +12,100% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +12,100% |
| Financial charges | 65/66B | €672 | €533 | -€139 | -20.7% |
| Recurring financial charges | 65 | €672 | €533 | -€139 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €8,588 | €11,752 | +€3,165 | +36.9% |
| Income taxes | 67/77 | €2,675 | €3,831 | +€1,156 | +43.2% |
| Profit (loss) for the period | 9904 | €5,913 | €7,922 | +€2,009 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,913 | €7,922 | +€2,009 | +34.0% |
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 28 October 2026 via checked.be.