Stef-Fun: 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.
Stef-Fun
Largest movements
- Receivables within one year -€322,899
down €322,899 (-98.0%), from €329,650 to €6,752
of which Other amounts receivable: -€304,527
- Tangible fixed assets -€163,241
no longer reported in 2025 (was €163,241)
- Financial fixed assets -€91,400
no longer reported in 2025 (was €91,400)
- Profit (loss) carried forward -€412,167
down €412,167 (-803.9%), from -€51,268 to -€463,435
- Debts after one year -€132,347
no longer reported in 2025 (was €132,347)
- Short-term financial debts -€25,620
down €25,620 (-6.2%), from €413,500 to €387,880
- Current portion of long-term debt -€15,670
no longer reported in 2025 (was €15,670)
- Other debts +€13,102
up €13,102 (+36.9%), from €35,472 to €48,574
- Other operating charges +€491,899
up €491,899 (+30082.6%), from €1,635 to €493,534
- Gross operating margin +€193,637
up €193,637, from -€18,435 to €175,202
- Financial charges +€89,321
up €89,321 (+1978.5%), from €4,515 to €93,835
of which Non-recurring financial charges: +€91,400
- Depreciation -€12,626
no longer reported in 2025 (was €12,626)
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 | €584,555 | €12,252 | -€572,303 | -97.9% |
| Fixed assets | 21/28 | €254,641 | - | -€254,641 | |
| Tangible fixed assets | 22/27 | €163,241 | - | -€163,241 | |
| Land and buildings | 22 | €163,241 | - | -€163,241 | |
| Financial fixed assets | 28 | €91,400 | - | -€91,400 | |
| Current assets | 29/58 | €329,915 | €12,252 | -€317,662 | -96.3% |
| Amounts receivable within one year | 40/41 | €329,650 | €6,752 | -€322,899 | -98.0% |
| Trade receivables | 40 | €25,085 | €6,713 | -€18,372 | -73.2% |
| Other amounts receivable | 41 | €304,565 | €39 | -€304,527 | -100.0% |
| Cash at bank and in hand | 54/58 | €264 | €5,402 | +€5,138 | +1944.3% |
| Deferred charges and accrued income | 490/1 | - | €99 | +€99 | |
| Total equity and liabilities | 10/49 | €584,555 | €12,252 | -€572,303 | -97.9% |
| Equity | 10/15 | -€14,971 | -€427,138 | -€412,167 | -2753.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,697 | €17,697 | = | 0.0% |
| Tax-exempt reserves | 132 | €24 | €24 | = | 0.0% |
| Distributable reserves | 133 | €17,673 | €17,673 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,268 | -€463,435 | -€412,167 | -803.9% |
| Amounts payable | 17/49 | €599,527 | €439,391 | -€160,136 | -26.7% |
| Amounts payable after more than one year | 17 | €132,347 | - | -€132,347 | |
| Financial debts | 170/4 | €132,347 | - | -€132,347 | |
| Amounts payable within one year | 42/48 | €467,180 | €439,385 | -€27,796 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €15,670 | - | -€15,670 | |
| Financial debts | 43 | €413,500 | €387,880 | -€25,620 | -6.2% |
| Other loans | 439 | €413,500 | €387,880 | -€25,620 | -6.2% |
| Trade debts | 44 | €177 | €322 | +€144 | +81.2% |
| Suppliers | 440/4 | €177 | €322 | +€144 | +81.2% |
| Taxes, remuneration and social security | 45 | €2,360 | €2,609 | +€249 | +10.5% |
| Taxes | 450/3 | €2,360 | €2,609 | +€249 | +10.5% |
| Other amounts payable | 47/48 | €35,472 | €48,574 | +€13,102 | +36.9% |
| Accrued charges and deferred income | 492/3 | - | €6 | +€6 | |
| Non-recurring operating income | 76A | - | €156,759 | +€156,759 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,626 | - | -€12,626 | |
| Other operating charges | 640/8 | €1,635 | €493,534 | +€491,899 | +30082.6% |
| Gross operating margin | 9900 | -€18,435 | €175,202 | +€193,637 | |
| Operating profit (loss) | 9901 | -€32,696 | -€318,332 | -€285,635 | -873.6% |
| Financial charges | 65/66B | €4,515 | €93,835 | +€89,321 | +1978.5% |
| Recurring financial charges | 65 | €4,515 | €2,435 | -€2,079 | -46.1% |
| Non-recurring financial charges | 66B | - | €91,400 | +€91,400 | |
| Profit (loss) for the period before taxes | 9903 | -€37,211 | -€412,167 | -€374,956 | -1007.7% |
| Profit (loss) for the period | 9904 | -€37,211 | -€412,167 | -€374,956 | -1007.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,211 | -€412,167 | -€374,956 | -1007.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.