STEEN MGMT: 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.
STEEN MGMT
Largest movements
- Tangible fixed assets +€949,200
new in 2025: €949,200
- Cash +€25,496
up €25,496 (+42.1%), from €60,524 to €86,020
mainly Debts after one year (+€870,308) and Net result for the year (+€56,826)
- Debts after one year +€870,308
new in 2025: €870,308
- Reserves +€56,826
up €56,826 (+80.5%), from €70,579 to €127,406
- Current portion of long-term debt +€40,580
new in 2025: €40,580
- Gross operating margin +€128,495
up €128,495 (+145.3%), from €88,456 to €216,951
- Other operating charges +€114,659
up €114,659 (+49528.6%), from €232 to €114,890
- Financial charges +€16,166
new in 2025: €16,166
- Depreciation +€15,719
new in 2025: €15,719
- Taxes -€4,186
down €4,186 (-23.7%), from €17,645 to €13,459
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 | €102,699 | €1,089,433 | +€986,734 | +960.8% |
| Fixed assets | 21/28 | - | €954,200 | +€954,200 | |
| Tangible fixed assets | 22/27 | - | €949,200 | +€949,200 | |
| Land and buildings | 22 | - | €949,200 | +€949,200 | |
| Financial fixed assets | 28 | - | €5,000 | +€5,000 | |
| Current assets | 29/58 | €102,699 | €135,233 | +€32,534 | +31.7% |
| Amounts receivable within one year | 40/41 | €42,175 | €47,932 | +€5,757 | +13.7% |
| Trade receivables | 40 | €42,175 | €43,240 | +€1,065 | +2.5% |
| Other amounts receivable | 41 | - | €4,692 | +€4,692 | |
| Cash at bank and in hand | 54/58 | €60,524 | €86,020 | +€25,496 | +42.1% |
| Deferred charges and accrued income | 490/1 | - | €1,280 | +€1,280 | |
| Total equity and liabilities | 10/49 | €102,699 | €1,089,433 | +€986,734 | +960.8% |
| Equity | 10/15 | €75,579 | €132,406 | +€56,826 | +75.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €70,579 | €127,406 | +€56,826 | +80.5% |
| Distributable reserves | 133 | €70,579 | €127,406 | +€56,826 | +80.5% |
| Amounts payable | 17/49 | €27,120 | €957,027 | +€929,907 | +3428.9% |
| Amounts payable after more than one year | 17 | - | €870,308 | +€870,308 | |
| Financial debts | 170/4 | - | €870,308 | +€870,308 | |
| Amounts payable within one year | 42/48 | €27,120 | €86,719 | +€59,599 | +219.8% |
| Current portion of amounts payable after more than one year | 42 | - | €40,580 | +€40,580 | |
| Trade debts | 44 | €3,455 | €8,009 | +€4,554 | +131.8% |
| Suppliers | 440/4 | €3,455 | €8,009 | +€4,554 | +131.8% |
| Taxes, remuneration and social security | 45 | €22,584 | €31,518 | +€8,934 | +39.6% |
| Taxes | 450/3 | €22,584 | €31,518 | +€8,934 | +39.6% |
| Other amounts payable | 47/48 | €1,081 | €6,611 | +€5,530 | +511.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €15,719 | +€15,719 | |
| Other operating charges | 640/8 | €232 | €114,890 | +€114,659 | +49528.6% |
| Gross operating margin | 9900 | €88,456 | €216,951 | +€128,495 | +145.3% |
| Operating profit (loss) | 9901 | €88,224 | €86,341 | -€1,883 | -2.1% |
| Financial income | 75/76B | - | €110 | +€110 | |
| Recurring financial income | 75 | - | €110 | +€110 | |
| Financial charges | 65/66B | - | €16,166 | +€16,166 | |
| Recurring financial charges | 65 | - | €16,166 | +€16,166 | |
| Profit (loss) for the period before taxes | 9903 | €88,224 | €70,285 | -€17,939 | -20.3% |
| Income taxes | 67/77 | €17,645 | €13,459 | -€4,186 | -23.7% |
| Profit (loss) for the period | 9904 | €70,579 | €56,826 | -€13,753 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,579 | €56,826 | -€13,753 | -19.5% |
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 12 October 2026 via checked.be.