STEELPLUS: 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.
STEELPLUS
Largest movements
- Current investments -€550,000
down €550,000 (-100.0%), from €550,000 to €0
- Tangible fixed assets +€385,159
up €385,159 (+29.6%), from €1.3m to €1.7m
of which Land and buildings: +€385,834
- Cash +€141,618
up €141,618 (+534.3%), from €26,507 to €168,126
mainly Current investments (+€550,000) and Depreciation (+€45,269)
- Receivables after one year -€40,000
down €40,000 (-97.4%), from €41,081 to €1,081
- Profit (loss) carried forward -€57,415
down €57,415 (-71.9%), from -€79,885 to -€137,300
- Gross operating margin -€280,465
down €280,465, from €269,250 to -€11,215
- Financial income -€10,805
down €10,805 (-65.9%), from €16,403 to €5,598
- Depreciation +€5,632
up €5,632 (+14.2%), from €39,636 to €45,269
- Other operating charges +€5,621
up €5,621 (+125.2%), from €4,489 to €10,110
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 | €1,926,886 | €1,867,138 | -€59,748 | -3.1% |
| Fixed assets | 21/28 | €1,299,747 | €1,684,906 | +€385,159 | +29.6% |
| Tangible fixed assets | 22/27 | €1,299,747 | €1,684,906 | +€385,159 | +29.6% |
| Land and buildings | 22 | €1,298,075 | €1,683,909 | +€385,834 | +29.7% |
| Furniture and vehicles | 24 | €1,672 | €997 | -€675 | -40.4% |
| Current assets | 29/58 | €627,138 | €182,231 | -€444,907 | -70.9% |
| Amounts receivable after more than one year | 29 | €41,081 | €1,081 | -€40,000 | -97.4% |
| Other amounts receivable | 291 | €41,081 | €1,081 | -€40,000 | -97.4% |
| Amounts receivable within one year | 40/41 | €9,550 | €12,965 | +€3,416 | +35.8% |
| Other amounts receivable | 41 | €9,550 | €12,965 | +€3,416 | +35.8% |
| Current investments | 50/53 | €550,000 | €0 | -€550,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €26,507 | €168,126 | +€141,618 | +534.3% |
| Deferred charges and accrued income | 490/1 | €0 | €59 | +€59 | |
| Total equity and liabilities | 10/49 | €1,926,886 | €1,867,138 | -€59,748 | -3.1% |
| Equity | 10/15 | €1,850,744 | €1,791,117 | -€59,628 | -3.2% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €1,820,629 | €1,818,417 | -€2,213 | -0.1% |
| Tax-exempt reserves | 132 | €220,629 | €218,417 | -€2,213 | -1.0% |
| Distributable reserves | 133 | €1,600,000 | €1,600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,885 | -€137,300 | -€57,415 | -71.9% |
| Provisions and deferred taxes | 16 | €73,543 | €72,806 | -€738 | -1.0% |
| Deferred taxes | 168 | €73,543 | €72,806 | -€738 | -1.0% |
| Amounts payable | 17/49 | €2,598 | €3,215 | +€617 | +23.8% |
| Amounts payable within one year | 42/48 | €2,598 | €3,215 | +€617 | +23.8% |
| Trade debts | 44 | €618 | €1,235 | +€617 | +99.9% |
| Suppliers | 440/4 | €618 | €1,235 | +€617 | +99.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,980 | €1,980 | = | 0.0% |
| Non-recurring operating income | 76A | €294,172 | €0 | -€294,172 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,636 | €45,269 | +€5,632 | +14.2% |
| Other operating charges | 640/8 | €4,489 | €10,110 | +€5,621 | +125.2% |
| Gross operating margin | 9900 | €269,250 | -€11,215 | -€280,465 | |
| Operating profit (loss) | 9901 | €225,125 | -€66,593 | -€291,718 | |
| Financial income | 75/76B | €16,403 | €5,598 | -€10,805 | -65.9% |
| Recurring financial income | 75 | €16,403 | €5,598 | -€10,805 | -65.9% |
| Financial charges | 65/66B | €2,785 | €123 | -€2,663 | -95.6% |
| Recurring financial charges | 65 | €2,785 | €123 | -€2,663 | -95.6% |
| Profit (loss) for the period before taxes | 9903 | €238,743 | -€61,118 | -€299,861 | |
| Transfer from deferred taxes | 780 | - | €738 | +€738 | |
| Transfer to deferred taxes | 680 | €73,543 | €0 | -€73,543 | -100.0% |
| Income taxes | 67/77 | €1,070 | -€753 | -€1,822 | |
| Profit (loss) for the period | 9904 | €164,130 | -€59,628 | -€223,758 | |
| Transfer from tax-exempt reserves | 789 | - | €2,213 | +€2,213 | |
| Transfer to tax-exempt reserves | 689 | €220,629 | €0 | -€220,629 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,500 | -€57,415 | -€916 | -1.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.