STEELS CONSTRUCTIONS: 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.
What changed
STEELS CONSTRUCTIONS
NACE 46.711, Wholesale of cars and light vans (up to 3.5 tonnes)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€969,910
2024 · €754,952+€214,958
Equity
€4.4m
2024 · €3.5m+€869,910
Cash
€1.3m
2024 · €960,410+€352,738
Balance sheet total
€39.5m
2024 · €36.9m+€2.6m
Largest movements
Assets
- Tangible fixed assets +€2.0m
up €2.0m (+66.6%), from €3.0m to €5.0m
of which Furniture and vehicles: +€2.0m
- Receivables within one year +€809,468
up €809,468 (+4.3%), from €19.0m to €19.8m
of which Other amounts receivable: +€2.2m
Equity and liabilities
- Advances received +€2.2m
up €2.2m (+143.8%), from €1.5m to €3.7m
- Other debts +€1.8m
up €1.8m (+90.0%), from €2.0m to €3.8m
- Trade debts -€1.5m
down €1.5m (-37.7%), from €3.9m to €2.4m
- Short-term financial debts -€1.4m
down €1.4m (-20.3%), from €7.1m to €5.6m
- Reserves +€868,221
up €868,221 (+25.4%), from €3.4m to €4.3m
of which Distributable reserves: +€700,000
Income statement
- Goods and materials -€3.9m
down €3.9m (-7.7%), from €50.4m to €46.5m
of which Purchases: -€5.7m
- Turnover -€3.2m
down €3.2m (-5.8%), from €55.0m to €51.8m
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.
Result 2024
€754,952
Turnover
-€3.2m
Other operating income
+€64,496
Goods and materials
+€3.9m
Services and other goods
-€195,233
Staff costs
-€72,400
Depreciation
-€337,340
Write-downs
+€69,025
Other operating charges
+€77,940
Financial income
+€10,759
Financial charges
+€6,781
Taxes
-€56,009
Deferred taxes and other
-€4,189
Result 2025
€969,910
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.
From operations
+€5.0m
Investment
-€3.1m
Financing
-€1.6m
Cash 2024
€960,410
From operations (derived)
+€5.0m
Net result for the year
+€969,910
Depreciation
+€1.1m
Stocks and contracts
+€286,540
Receivables within one year
-€809,468
Deferred charges and accrued income
+€256,525
Provisions
+€6,957
Trade debts
-€1.5m
Tax, wage and social debts
+€348,616
Advances received
+€2.2m
Other debts
+€1.8m
Accrued charges and deferred income
+€369,970
Investment (derived)
-€3.1m
Investment in fixed assets (net)
-€3.1m
Financing
-€1.6m
Debts after one year
-€18,200
Short-term financial debts
-€1.4m
Contributions, distributions and other
-€100,000
Cash 2025
€1.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,911,192 | €39,532,230 | +€2.6m | +7.1% |
| Fixed assets | 21/28 | €3,010,351 | €5,012,248 | +€2.0m | +66.5% |
| Intangible fixed assets | 21 | €12,069 | €7,872 | -€4,197 | -34.8% |
| Tangible fixed assets | 22/27 | €2,994,497 | €4,990,126 | +€2.0m | +66.6% |
| Plant, machinery and equipment | 23 | €179,867 | €212,032 | +€32,165 | +17.9% |
| Furniture and vehicles | 24 | €2,588,902 | €4,557,333 | +€2.0m | +76.0% |
| Other tangible fixed assets | 26 | €225,729 | €220,761 | -€4,968 | -2.2% |
| Financial fixed assets | 28 | €3,785 | €14,250 | +€10,465 | +276.5% |
| Other financial fixed assets | 284/8 | €3,785 | €14,250 | +€10,465 | +276.5% |
| Amounts receivable and cash guarantees | 285/8 | €3,785 | €14,250 | +€10,465 | +276.5% |
| Current assets | 29/58 | €33,900,841 | €34,519,982 | +€619,141 | +1.8% |
| Stocks and contracts in progress | 3 | €13,315,048 | €13,028,508 | -€286,540 | -2.2% |
| Stocks | 30/36 | €13,315,048 | €13,028,508 | -€286,540 | -2.2% |
| Raw materials and consumables | 30/31 | €172,298 | €157,775 | -€14,523 | -8.4% |
| Work in progress | 32 | - | €32,460 | +€32,460 | |
| Goods purchased for resale | 34 | €13,142,750 | €12,838,273 | -€304,477 | -2.3% |
| Amounts receivable within one year | 40/41 | €19,019,058 | €19,828,526 | +€809,468 | +4.3% |
| Trade receivables | 40 | €7,303,361 | €5,939,792 | -€1.4m | -18.7% |
| Other amounts receivable | 41 | €11,715,696 | €13,888,734 | +€2.2m | +18.5% |
| Cash at bank and in hand | 54/58 | €960,410 | €1,313,147 | +€352,738 | +36.7% |
| Deferred charges and accrued income | 490/1 | €606,326 | €349,801 | -€256,525 | -42.3% |
| Total equity and liabilities | 10/49 | €36,911,192 | €39,532,230 | +€2.6m | +7.1% |
| Equity | 10/15 | €3,544,345 | €4,414,255 | +€869,910 | +24.5% |
| Contributions | 10/11 | €121,600 | €121,600 | = | 0.0% |
| Reserves | 13 | €3,419,073 | €4,287,295 | +€868,221 | +25.4% |
| Tax-exempt reserves | 132 | €1,219,073 | €1,387,295 | +€168,221 | +13.8% |
| Distributable reserves | 133 | €2,200,000 | €2,900,000 | +€700,000 | +31.8% |
| Profit (loss) carried forward | 14 | €3,672 | €5,361 | +€1,689 | +46.0% |
| Provisions and deferred taxes | 16 | €17,634 | €24,591 | +€6,957 | +39.5% |
| Deferred taxes | 168 | €17,634 | €24,591 | +€6,957 | +39.5% |
| Amounts payable | 17/49 | €33,349,212 | €35,093,383 | +€1.7m | +5.2% |
| Amounts payable after more than one year | 17 | €18,471,334 | €18,453,134 | -€18,200 | -0.1% |
| Financial debts | 170/4 | €18,471,334 | €18,453,134 | -€18,200 | -0.1% |
| Credit institutions | 173 | €121,334 | €103,134 | -€18,200 | -15.0% |
| Other loans | 174 | €18,350,000 | €18,350,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,544,837 | €15,937,238 | +€1.4m | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €18,200 | €18,200 | = | 0.0% |
| Financial debts | 43 | €7,050,721 | €5,617,201 | -€1.4m | -20.3% |
| Credit institutions | 430/8 | €7,050,721 | €5,617,201 | -€1.4m | -20.3% |
| Trade debts | 44 | €3,929,898 | €2,447,147 | -€1.5m | -37.7% |
| Suppliers | 440/4 | €3,929,898 | €2,447,147 | -€1.5m | -37.7% |
| Advances received on contracts in progress | 46 | €1,517,126 | €3,698,146 | +€2.2m | +143.8% |
| Taxes, remuneration and social security | 45 | €52,279 | €400,895 | +€348,616 | +666.8% |
| Taxes | 450/3 | €13,950 | €328,787 | +€314,836 | +2256.8% |
| Remuneration and social security | 454/9 | €38,328 | €72,108 | +€33,780 | +88.1% |
| Other amounts payable | 47/48 | €1,976,613 | €3,755,649 | +€1.8m | +90.0% |
| Accrued charges and deferred income | 492/3 | €333,042 | €703,012 | +€369,970 | +111.1% |
| Operating income | 70/76A | €55,515,787 | €52,365,304 | -€3.2m | -5.7% |
| Turnover | 70 | €55,030,590 | €51,815,610 | -€3.2m | -5.8% |
| Other operating income | 74 | €485,197 | €549,693 | +€64,496 | +13.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €54,154,187 | €50,746,087 | -€3.4m | -6.3% |
| Goods for resale, raw materials and consumables | 60 | €50,353,903 | €46,487,796 | -€3.9m | -7.7% |
| Purchases | 600/8 | €51,884,438 | €46,201,256 | -€5.7m | -11.0% |
| Change in stocks: decrease (increase) | 609 | -€1,530,534 | €286,540 | +€1.8m | |
| Services and other goods | 61 | €2,287,308 | €2,482,541 | +€195,233 | +8.5% |
| Remuneration, social security and pensions | 62 | €522,924 | €595,324 | +€72,400 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €734,055 | €1,071,395 | +€337,340 | +46.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €62,873 | -€6,152 | -€69,025 | |
| Other operating charges | 640/8 | €193,124 | €115,184 | -€77,940 | -40.4% |
| Operating profit (loss) | 9901 | €1,361,600 | €1,619,216 | +€257,616 | +18.9% |
| Financial income | 75/76B | €51,329 | €62,088 | +€10,759 | +21.0% |
| Recurring financial income | 75 | €51,329 | €62,088 | +€10,759 | +21.0% |
| Income from current assets | 751 | €39,301 | €48,859 | +€9,558 | +24.3% |
| Other financial income | 752/9 | €12,028 | €13,229 | +€1,201 | +10.0% |
| Financial charges | 65/66B | €431,447 | €424,666 | -€6,781 | -1.6% |
| Recurring financial charges | 65 | €431,447 | €424,666 | -€6,781 | -1.6% |
| Debt charges | 650 | €416,251 | €400,907 | -€15,344 | -3.7% |
| Other financial charges | 652/9 | €15,196 | €23,759 | +€8,563 | +56.4% |
| Profit (loss) for the period before taxes | 9903 | €981,482 | €1,256,638 | +€275,156 | +28.0% |
| Transfer from deferred taxes | 780 | €836 | €1,543 | +€707 | +84.5% |
| Transfer to deferred taxes | 680 | €3,604 | €8,500 | +€4,896 | +135.8% |
| Income taxes | 67/77 | €223,762 | €279,771 | +€56,009 | +25.0% |
| Taxes | 670/3 | €223,762 | €279,771 | +€56,009 | +25.0% |
| Profit (loss) for the period | 9904 | €754,952 | €969,910 | +€214,958 | +28.5% |
| Transfer from tax-exempt reserves | 789 | €162,488 | €173,029 | +€10,540 | +6.5% |
| Transfer to tax-exempt reserves | 689 | €326,563 | €341,250 | +€14,687 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €590,877 | €801,689 | +€210,812 | +35.7% |
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 4 October 2026 via checked.be.