STEF LEIRS: 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.
STEF LEIRS
Largest movements
- Cash -€30,611
down €30,611 (-37.4%), from €81,784 to €51,173
mainly Other debts (-€18,469) and Contributions, distributions and other (-€11,765)
- Receivables within one year +€7,791
new in 2025: €7,791
- Tangible fixed assets -€6,510
down €6,510 (-52.6%), from €12,380 to €5,870
of which Furniture and vehicles: -€12,380
- Deferred charges and accrued income +€5,638
up €5,638, from €0 to €5,638
- Other debts -€18,469
down €18,469 (-100.0%), from €18,469 to €0
- Debts after one year -€7,703
down €7,703 (-49.0%), from €15,736 to €8,033
- Reserves +€4,713
up €4,713 (+12.0%), from €39,412 to €44,125
- Tax, wage and social debts -€1,872
down €1,872 (-19.9%), from €9,414 to €7,542
of which Taxes: -€3,722
- Depreciation -€844
down €844 (-6.3%), from €13,330 to €12,486
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 | €94,164 | €70,471 | -€23,693 | -25.2% |
| Fixed assets | 21/28 | €12,380 | €5,870 | -€6,510 | -52.6% |
| Tangible fixed assets | 22/27 | €12,380 | €5,870 | -€6,510 | -52.6% |
| Land and buildings | 22 | - | €5,870 | +€5,870 | |
| Furniture and vehicles | 24 | €12,380 | €0 | -€12,380 | -100.0% |
| Current assets | 29/58 | €81,784 | €64,601 | -€17,183 | -21.0% |
| Amounts receivable within one year | 40/41 | - | €7,791 | +€7,791 | |
| Other amounts receivable | 41 | - | €7,791 | +€7,791 | |
| Cash at bank and in hand | 54/58 | €81,784 | €51,173 | -€30,611 | -37.4% |
| Deferred charges and accrued income | 490/1 | €0 | €5,638 | +€5,638 | |
| Total equity and liabilities | 10/49 | €94,164 | €70,471 | -€23,693 | -25.2% |
| Equity | 10/15 | €42,412 | €47,125 | +€4,713 | +11.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €39,412 | €44,125 | +€4,713 | +12.0% |
| Distributable reserves | 133 | €39,412 | €44,125 | +€4,713 | +12.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €51,753 | €23,346 | -€28,406 | -54.9% |
| Amounts payable after more than one year | 17 | €15,736 | €8,033 | -€7,703 | -49.0% |
| Financial debts | 170/4 | €15,736 | €8,033 | -€7,703 | -49.0% |
| Amounts payable within one year | 42/48 | €36,016 | €15,313 | -€20,703 | -57.5% |
| Current portion of amounts payable after more than one year | 42 | €7,387 | €7,703 | +€316 | +4.3% |
| Trade debts | 44 | €746 | €68 | -€678 | -90.9% |
| Suppliers | 440/4 | €746 | €68 | -€678 | -90.9% |
| Taxes, remuneration and social security | 45 | €9,414 | €7,542 | -€1,872 | -19.9% |
| Taxes | 450/3 | €9,414 | €5,692 | -€3,722 | -39.5% |
| Remuneration and social security | 454/9 | €0 | €1,850 | +€1,850 | |
| Other amounts payable | 47/48 | €18,469 | €0 | -€18,469 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,330 | €12,486 | -€844 | -6.3% |
| Other operating charges | 640/8 | €323 | €332 | +€9 | +2.7% |
| Gross operating margin | 9900 | €34,662 | €34,318 | -€344 | -1.0% |
| Operating profit (loss) | 9901 | €21,009 | €21,500 | +€491 | +2.3% |
| Financial income | 75/76B | - | €192 | +€192 | |
| Recurring financial income | 75 | - | €192 | +€192 | |
| Financial charges | 65/66B | €1,273 | €934 | -€338 | -26.6% |
| Recurring financial charges | 65 | €1,273 | €934 | -€338 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €19,736 | €20,757 | +€1,021 | +5.2% |
| Income taxes | 67/77 | €4,192 | €4,279 | +€87 | +2.1% |
| Profit (loss) for the period | 9904 | €15,544 | €16,478 | +€934 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,544 | €16,478 | +€934 | +6.0% |
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 12 October 2026 via checked.be.