STEENBOSCH: 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.
STEENBOSCH
Largest movements
- Cash +€112,516
up €112,516 (+104.7%), from €107,443 to €219,959
mainly Net result for the year (+€139,853) and Other debts (+€6,902)
- Current investments +€38,436
up €38,436 (+8.5%), from €449,752 to €488,188
- Reserves +€138,187
up €138,187 (+26.1%), from €529,036 to €667,222
of which Tax-exempt reserves: +€75,780
- Gross operating margin +€37,525
up €37,525 (+25.5%), from €147,288 to €184,813
- Taxes +€9,528
up €9,528 (+23.3%), from €40,876 to €50,404
- Financial income +€6,567
up €6,567 (+99.8%), from €6,578 to €13,145
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 | €569,567 | €719,219 | +€149,652 | +26.3% |
| Fixed assets | 21/28 | €10,552 | €5,724 | -€4,828 | -45.8% |
| Tangible fixed assets | 22/27 | €10,552 | €5,724 | -€4,828 | -45.8% |
| Furniture and vehicles | 24 | €8,131 | €4,156 | -€3,975 | -48.9% |
| Other tangible fixed assets | 26 | €2,421 | €1,568 | -€853 | -35.2% |
| Current assets | 29/58 | €559,015 | €713,495 | +€154,480 | +27.6% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €449,752 | €488,188 | +€38,436 | +8.5% |
| Cash at bank and in hand | 54/58 | €107,443 | €219,959 | +€112,516 | +104.7% |
| Deferred charges and accrued income | 490/1 | €1,820 | €5,348 | +€3,528 | +193.9% |
| Total equity and liabilities | 10/49 | €569,567 | €719,219 | +€149,652 | +26.3% |
| Equity | 10/15 | €530,036 | €668,222 | +€138,187 | +26.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €529,036 | €667,222 | +€138,187 | +26.1% |
| Tax-exempt reserves | 132 | €92,620 | €168,400 | +€75,780 | +81.8% |
| Distributable reserves | 133 | €436,416 | €498,822 | +€62,407 | +14.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €39,531 | €50,997 | +€11,466 | +29.0% |
| Amounts payable within one year | 42/48 | €38,521 | €50,635 | +€12,114 | +31.4% |
| Trade debts | 44 | €1,287 | €286 | -€1,001 | -77.8% |
| Suppliers | 440/4 | €1,287 | €286 | -€1,001 | -77.8% |
| Taxes, remuneration and social security | 45 | €24,470 | €30,683 | +€6,213 | +25.4% |
| Taxes | 450/3 | €24,470 | €30,683 | +€6,213 | +25.4% |
| Other amounts payable | 47/48 | €12,764 | €19,666 | +€6,902 | +54.1% |
| Accrued charges and deferred income | 492/3 | €1,010 | €362 | -€648 | -64.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,042 | €4,828 | +€785 | +19.4% |
| Other operating charges | 640/8 | €1,012 | €793 | -€219 | -21.7% |
| Gross operating margin | 9900 | €147,288 | €184,813 | +€37,525 | +25.5% |
| Operating profit (loss) | 9901 | €142,233 | €179,193 | +€36,959 | +26.0% |
| Financial income | 75/76B | €6,578 | €13,145 | +€6,567 | +99.8% |
| Recurring financial income | 75 | €6,578 | €13,145 | +€6,567 | +99.8% |
| Financial charges | 65/66B | €1,015 | €2,082 | +€1,066 | +105.0% |
| Recurring financial charges | 65 | €1,015 | €2,082 | +€1,066 | +105.0% |
| Profit (loss) for the period before taxes | 9903 | €147,796 | €190,256 | +€42,460 | +28.7% |
| Income taxes | 67/77 | €40,876 | €50,404 | +€9,528 | +23.3% |
| Profit (loss) for the period | 9904 | €106,920 | €139,853 | +€32,932 | +30.8% |
| Transfer to tax-exempt reserves | 689 | €46,310 | €75,780 | +€29,470 | +63.6% |
| Profit (loss) for the period to be appropriated | 9905 | €60,610 | €64,073 | +€3,462 | +5.7% |
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 5 October 2026 via checked.be.