STEF ART CREATIONS: what changed
STEF ART CREATIONS
Largest movements
- Receivables within one year +€8,785
up €8,785 (+347%), from €2,533 to €11,319
of which Trade receivables: +€8,675
- Cash +€3,545
up €3,545 (+91.6%), from €3,868 to €7,413
mainly Short-term financial debts (+€16,996) and Depreciation (+€9,411)
- Stocks and contracts +€3,087
up €3,087 (+147%), from €2,105 to €5,192
- Tangible fixed assets -€2,456
down €2,456 (-14.6%), from €16,810 to €14,354
of which Plant, machinery and equipment: -€1,570
- Financial fixed assets -€550
down €550 (-56.7%), from €970 to €420
- Short-term financial debts +€16,996
up €16,996 (+1,457%), from €1,167 to €18,163
- Profit (loss) carried forward -€4,601
down €4,601 (-73.9%), from €6,227 to €1,626
- Trade debts -€619
down €619 (-8.9%), from €6,940 to €6,320
- Gross operating margin -€10,131
down €10,131 (-47.1%), from €21,495 to €11,364
- Staff costs -€3,317
no longer reported in 2025 (was €3,317)
- Depreciation +€1,943
up €1,943 (+26.0%), from €7,468 to €9,411
- Other operating charges -€1,167
down €1,167 (-39.8%), from €2,930 to €1,763
- Taxes +€853
up €853 (+32.5%), from €2,626 to €3,479
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,661 | €43,646 | +€11,985 | +37.9% |
| Fixed assets | 21/28 | €17,780 | €14,774 | -€3,006 | -16.9% |
| Tangible fixed assets | 22/27 | €16,810 | €14,354 | -€2,456 | -14.6% |
| Plant, machinery and equipment | 23 | €8,088 | €6,518 | -€1,570 | -19.4% |
| Furniture and vehicles | 24 | €8,722 | €7,836 | -€886 | -10.2% |
| Financial fixed assets | 28 | €970 | €420 | -€550 | -56.7% |
| Current assets | 29/58 | €13,881 | €28,872 | +€14,991 | +108% |
| Stocks and contracts in progress | 3 | €2,105 | €5,192 | +€3,087 | +147% |
| Stocks | 30/36 | €2,105 | €5,192 | +€3,087 | +147% |
| Amounts receivable within one year | 40/41 | €2,533 | €11,319 | +€8,785 | +347% |
| Trade receivables | 40 | - | €8,675 | +€8,675 | |
| Other amounts receivable | 41 | €2,533 | €2,643 | +€110 | +4.3% |
| Cash at bank and in hand | 54/58 | €3,868 | €7,413 | +€3,545 | +91.6% |
| Deferred charges and accrued income | 490/1 | €5,375 | €4,949 | -€426 | -7.9% |
| Total equity and liabilities | 10/49 | €31,661 | €43,646 | +€11,985 | +37.9% |
| Equity | 10/15 | €14,227 | €9,626 | -€4,601 | -32.3% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,227 | €1,626 | -€4,601 | -73.9% |
| Amounts payable | 17/49 | €17,434 | €34,020 | +€16,586 | +95.1% |
| Amounts payable within one year | 42/48 | €17,434 | €34,020 | +€16,586 | +95.1% |
| Financial debts | 43 | €1,167 | €18,163 | +€16,996 | +1,457% |
| Credit institutions | 430/8 | €1,167 | €18,163 | +€16,996 | +1,457% |
| Trade debts | 44 | €6,940 | €6,320 | -€619 | -8.9% |
| Suppliers | 440/4 | €6,940 | €6,320 | -€619 | -8.9% |
| Taxes, remuneration and social security | 45 | - | €200 | +€200 | |
| Remuneration and social security | 454/9 | - | €200 | +€200 | |
| Other amounts payable | 47/48 | €9,328 | €9,337 | +€9 | +0.1% |
| Remuneration, social security and pensions | 62 | €3,317 | - | -€3,317 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,468 | €9,411 | +€1,943 | +26.0% |
| Other operating charges | 640/8 | €2,930 | €1,763 | -€1,167 | -39.8% |
| Gross operating margin | 9900 | €21,495 | €11,364 | -€10,131 | -47.1% |
| Operating profit (loss) | 9901 | €7,780 | €190 | -€7,591 | -97.6% |
| Financial income | 75/76B | €43 | €30 | -€13 | -29.5% |
| Recurring financial income | 75 | €43 | €30 | -€13 | -29.5% |
| Financial charges | 65/66B | €855 | €1,342 | +€486 | +56.9% |
| Recurring financial charges | 65 | €855 | €1,342 | +€486 | +56.9% |
| Profit (loss) for the period before taxes | 9903 | €6,968 | -€1,122 | -€8,090 | |
| Income taxes | 67/77 | €2,626 | €3,479 | +€853 | +32.5% |
| Profit (loss) for the period | 9904 | €4,341 | -€4,601 | -€8,942 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,341 | -€4,601 | -€8,942 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.