STEEVAST: 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.
STEEVAST
Largest movements
- Current investments -€766,472
down €766,472 (-100%), from €766,472 to €0
- Tangible fixed assets +€402,973
up €402,973 (+35.0%), from €1.2m to €1.6m
of which Land and buildings: +€328,434
- Cash +€324,938
up €324,938 (+1,223%), from €26,579 to €351,517
mainly Current investments (+€766,472) and Net result for the year (+€129,692)
- Provisions -€70,481
down €70,481 (-100%), from €70,481 to €0
of which Provisions for liabilities and charges: -€70,481
- Reserves +€39,072
up €39,072 (+3.5%), from €1.1m to €1.2m
of which Distributable reserves: +€39,072
- Accrued charges and deferred income +€31,573
up €31,573 (+360%), from €8,769 to €40,343
- Tax, wage and social debts -€29,398
down €29,398 (-39.0%), from €75,436 to €46,038
- Other debts -€20,468
down €20,468 (-3.4%), from €602,339 to €581,871
- Gross operating margin -€425,234
down €425,234 (-61.8%), from €687,823 to €262,589
- Taxes -€220,176
down €220,176 (-77.9%), from €282,622 to €62,446
- Provisions -€70,481
new in 2025: -€70,481
- Financial income +€20,116
up €20,116 (+746%), from €2,696 to €22,812
- Depreciation +€11,618
up €11,618 (+13.8%), from €84,254 to €95,872
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.
Derived cash bridge
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 | €2,020,270 | €1,974,687 | -€45,584 | -2.3% |
| Fixed assets | 21/28 | €1,150,943 | €1,553,916 | +€402,973 | +35.0% |
| Tangible fixed assets | 22/27 | €1,150,943 | €1,553,916 | +€402,973 | +35.0% |
| Land and buildings | 22 | €1,132,192 | €1,460,625 | +€328,434 | +29.0% |
| Plant, machinery and equipment | 23 | €2,451 | €5,510 | +€3,059 | +125% |
| Furniture and vehicles | 24 | €16,300 | €87,780 | +€71,480 | +439% |
| Current assets | 29/58 | €869,327 | €420,771 | -€448,557 | -51.6% |
| Amounts receivable within one year | 40/41 | €64,687 | €60,956 | -€3,731 | -5.8% |
| Trade receivables | 40 | €64,606 | €60,925 | -€3,680 | -5.7% |
| Other amounts receivable | 41 | €81 | €31 | -€50 | -62.0% |
| Current investments | 50/53 | €766,472 | €0 | -€766,472 | -100% |
| Cash at bank and in hand | 54/58 | €26,579 | €351,517 | +€324,938 | +1,223% |
| Deferred charges and accrued income | 490/1 | €11,590 | €8,297 | -€3,293 | -28.4% |
| Total equity and liabilities | 10/49 | €2,020,270 | €1,974,687 | -€45,584 | -2.3% |
| Equity | 10/15 | €1,245,625 | €1,284,697 | +€39,072 | +3.1% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €1,121,625 | €1,160,697 | +€39,072 | +3.5% |
| Non-distributable reserves | 130/1 | €31,957 | €31,957 | = | 0.0% |
| Legal reserve | 130 | €31,957 | €31,957 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €1,089,668 | €1,128,740 | +€39,072 | +3.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €70,481 | €0 | -€70,481 | -100% |
| Provisions for liabilities and charges | 160/5 | €70,481 | €0 | -€70,481 | -100% |
| Pensions and similar obligations | 160 | €70,481 | €0 | -€70,481 | -100% |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €704,165 | €689,989 | -€14,176 | -2.0% |
| Amounts payable within one year | 42/48 | €695,396 | €649,647 | -€45,749 | -6.6% |
| Financial debts | 43 | €394 | €80 | -€314 | -79.6% |
| Credit institutions | 430/8 | €394 | €80 | -€314 | -79.6% |
| Trade debts | 44 | €2,227 | €4,703 | +€2,476 | +111% |
| Suppliers | 440/4 | €2,227 | €4,703 | +€2,476 | +111% |
| Advances received on contracts in progress | 46 | €15,000 | €16,954 | +€1,954 | +13.0% |
| Taxes, remuneration and social security | 45 | €75,436 | €46,038 | -€29,398 | -39.0% |
| Taxes | 450/3 | €75,436 | €46,038 | -€29,398 | -39.0% |
| Other amounts payable | 47/48 | €602,339 | €581,871 | -€20,468 | -3.4% |
| Accrued charges and deferred income | 492/3 | €8,769 | €40,343 | +€31,573 | +360% |
| Non-recurring operating income | 76A | €510,061 | €0 | -€510,061 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,254 | €95,872 | +€11,618 | +13.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€70,481 | -€70,481 | |
| Other operating charges | 640/8 | €15,990 | €22,787 | +€6,797 | +42.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €687,823 | €262,589 | -€425,234 | -61.8% |
| Operating profit (loss) | 9901 | €587,579 | €214,410 | -€373,169 | -63.5% |
| Financial income | 75/76B | €2,696 | €22,812 | +€20,116 | +746% |
| Recurring financial income | 75 | €2,696 | €22,812 | +€20,116 | +746% |
| Financial charges | 65/66B | €38,267 | €45,083 | +€6,816 | +17.8% |
| Recurring financial charges | 65 | €38,267 | €45,083 | +€6,816 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €552,008 | €192,138 | -€359,870 | -65.2% |
| Transfer from deferred taxes | 780 | €83,079 | €0 | -€83,079 | -100% |
| Income taxes | 67/77 | €282,622 | €62,446 | -€220,176 | -77.9% |
| Profit (loss) for the period | 9904 | €352,465 | €129,692 | -€222,773 | -63.2% |
| Transfer from tax-exempt reserves | 789 | €249,237 | €0 | -€249,237 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €601,702 | €129,692 | -€472,010 | -78.4% |
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 27 October 2026 via checked.be.