Steenie: 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.
Steenie
Largest movements
- Tangible fixed assets -€69,907
down €69,907 (-52.5%), from €133,076 to €63,169
of which Furniture and vehicles: -€62,540
- Cash +€59,716
up €59,716 (+96.1%), from €62,172 to €121,888
mainly Net result for the year (+€102,507) and Investment in fixed assets (net) (+€55,072)
- Receivables within one year +€38,049
up €38,049 (+66.9%), from €56,894 to €94,943
of which Trade receivables: +€55,969
- Other debts +€53,068
new in 2025: €53,068
- Debts after one year -€20,265
no longer reported in 2025 (was €20,265)
- Current portion of long-term debt -€14,426
down €14,426 (-50.2%), from €28,734 to €14,308
- Reserves +€12,986
up €12,986 (+3.7%), from €349,398 to €362,384
of which Distributable reserves: +€12,986
- Tax, wage and social debts -€8,841
down €8,841 (-43.3%), from €20,413 to €11,572
- Gross operating margin -€18,740
down €18,740 (-10.3%), from €181,771 to €163,031
- Depreciation -€10,472
down €10,472 (-41.4%), from €25,306 to €14,835
- Taxes +€2,116
up €2,116 (+5.0%), from €42,302 to €44,419
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 | €457,431 | €482,342 | +€24,910 | +5.4% |
| Fixed assets | 21/28 | €133,076 | €63,169 | -€69,907 | -52.5% |
| Tangible fixed assets | 22/27 | €133,076 | €63,169 | -€69,907 | -52.5% |
| Land and buildings | 22 | €39,317 | €35,169 | -€4,147 | -10.5% |
| Plant, machinery and equipment | 23 | €21,914 | €18,695 | -€3,220 | -14.7% |
| Furniture and vehicles | 24 | €71,845 | €9,305 | -€62,540 | -87.0% |
| Current assets | 29/58 | €324,355 | €419,172 | +€94,817 | +29.2% |
| Amounts receivable after more than one year | 29 | €46,578 | €43,776 | -€2,802 | -6.0% |
| Other amounts receivable | 291 | €46,578 | €43,776 | -€2,802 | -6.0% |
| Amounts receivable within one year | 40/41 | €56,894 | €94,943 | +€38,049 | +66.9% |
| Trade receivables | 40 | €33,307 | €89,276 | +€55,969 | +168.0% |
| Other amounts receivable | 41 | €23,586 | €5,667 | -€17,920 | -76.0% |
| Current investments | 50/53 | €158,711 | €155,391 | -€3,320 | -2.1% |
| Cash at bank and in hand | 54/58 | €62,172 | €121,888 | +€59,716 | +96.1% |
| Deferred charges and accrued income | 490/1 | - | €3,174 | +€3,174 | |
| Total equity and liabilities | 10/49 | €457,431 | €482,342 | +€24,910 | +5.4% |
| Equity | 10/15 | €369,696 | €382,682 | +€12,986 | +3.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €349,398 | €362,384 | +€12,986 | +3.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,250 | €20,250 | = | 0.0% |
| Distributable reserves | 133 | €327,148 | €340,134 | +€12,986 | +4.0% |
| Profit (loss) carried forward | 14 | €298 | €298 | = | 0.0% |
| Amounts payable | 17/49 | €87,735 | €99,659 | +€11,924 | +13.6% |
| Amounts payable after more than one year | 17 | €20,265 | - | -€20,265 | |
| Financial debts | 170/4 | €20,265 | - | -€20,265 | |
| Amounts payable within one year | 42/48 | €67,470 | €99,659 | +€32,189 | +47.7% |
| Current portion of amounts payable after more than one year | 42 | €28,734 | €14,308 | -€14,426 | -50.2% |
| Financial debts | 43 | €16,333 | €19,833 | +€3,500 | +21.4% |
| Credit institutions | 430/8 | €16,333 | €19,833 | +€3,500 | +21.4% |
| Trade debts | 44 | €1,990 | €879 | -€1,111 | -55.8% |
| Suppliers | 440/4 | €1,990 | €879 | -€1,111 | -55.8% |
| Taxes, remuneration and social security | 45 | €20,413 | €11,572 | -€8,841 | -43.3% |
| Taxes | 450/3 | €20,413 | €11,572 | -€8,841 | -43.3% |
| Other amounts payable | 47/48 | - | €53,068 | +€53,068 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,306 | €14,835 | -€10,472 | -41.4% |
| Other operating charges | 640/8 | €1,310 | €1,430 | +€120 | +9.2% |
| Non-recurring operating charges | 66A | €18,822 | €714 | -€18,107 | -96.2% |
| Gross operating margin | 9900 | €181,771 | €163,031 | -€18,740 | -10.3% |
| Operating profit (loss) | 9901 | €136,333 | €146,053 | +€9,719 | +7.1% |
| Financial income | 75/76B | €3,916 | €3,924 | +€8 | +0.2% |
| Recurring financial income | 75 | €3,916 | €3,924 | +€8 | +0.2% |
| Financial charges | 65/66B | €3,348 | €3,051 | -€297 | -8.9% |
| Recurring financial charges | 65 | €3,348 | €3,051 | -€297 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €136,901 | €146,925 | +€10,024 | +7.3% |
| Income taxes | 67/77 | €42,302 | €44,419 | +€2,116 | +5.0% |
| Profit (loss) for the period | 9904 | €94,599 | €102,507 | +€7,908 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €94,599 | €102,507 | +€7,908 | +8.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.