STEF Logistics Courcelles: 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 Logistics Courcelles
Largest movements
- Receivables within one year -€321,304
down €321,304 (-27.6%), from €1.2m to €844,113
of which Trade receivables: -€411,409
- Tangible fixed assets -€167,041
down €167,041 (-16.9%), from €990,503 to €823,462
of which Furniture and vehicles: -€135,544
- Stocks and contracts -€26,326
down €26,326 (-16.7%), from €157,664 to €131,338
- Profit (loss) carried forward -€3.3m
down €3.3m, from €538,656 to -€2.8m
- Provisions +€3.1m
up €3.1m (+59223.5%), from €5,294 to €3.1m
- Other debts -€264,726
no longer reported in 2025 (was €264,726)
- Tax, wage and social debts -€206,851
down €206,851 (-31.2%), from €662,607 to €455,755
of which Remuneration and social security: -€122,437
- Trade debts +€142,366
up €142,366 (+16.5%), from €863,603 to €1.0m
- Financial charges +€3.4m
up €3.4m (+8437.0%), from €40,386 to €3.4m
of which Non-recurring financial charges: +€3.4m
- Staff costs -€460,612
down €460,612 (-13.0%), from €3.5m to €3.1m
- Turnover -€415,758
down €415,758 (-6.3%), from €6.6m to €6.2m
- Other operating income -€286,343
down €286,343 (-50.4%), from €568,056 to €281,713
- Services and other goods +€206,472
up €206,472 (+8.2%), from €2.5m to €2.7m
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,403,588 | €1,888,647 | -€514,941 | -21.4% |
| Fixed assets | 21/28 | €1,080,508 | €913,197 | -€167,311 | -15.5% |
| Tangible fixed assets | 22/27 | €990,503 | €823,462 | -€167,041 | -16.9% |
| Land and buildings | 22 | €51,180 | €45,818 | -€5,362 | -10.5% |
| Plant, machinery and equipment | 23 | €315,152 | €289,018 | -€26,134 | -8.3% |
| Furniture and vehicles | 24 | €624,171 | €488,627 | -€135,544 | -21.7% |
| Financial fixed assets | 28 | €90,005 | €89,735 | -€270 | -0.3% |
| Other financial fixed assets | 284/8 | €90,005 | €89,735 | -€270 | -0.3% |
| Amounts receivable and cash guarantees | 285/8 | €90,005 | €89,735 | -€270 | -0.3% |
| Current assets | 29/58 | €1,323,081 | €975,450 | -€347,630 | -26.3% |
| Stocks and contracts in progress | 3 | €157,664 | €131,338 | -€26,326 | -16.7% |
| Stocks | 30/36 | €157,664 | €131,338 | -€26,326 | -16.7% |
| Raw materials and consumables | 30/31 | €157,664 | €131,338 | -€26,326 | -16.7% |
| Amounts receivable within one year | 40/41 | €1,165,417 | €844,113 | -€321,304 | -27.6% |
| Trade receivables | 40 | €1,049,462 | €638,053 | -€411,409 | -39.2% |
| Other amounts receivable | 41 | €115,955 | €206,060 | +€90,105 | +77.7% |
| Total equity and liabilities | 10/49 | €2,403,588 | €1,888,647 | -€514,941 | -21.4% |
| Equity | 10/15 | €607,359 | -€2,713,664 | -€3.3m | |
| Contributions | 10/11 | €62,457 | €62,457 | = | 0.0% |
| Capital | 10 | €62,457 | €62,457 | = | 0.0% |
| Issued capital | 100 | €62,457 | €62,457 | = | 0.0% |
| Reserves | 13 | €6,246 | €6,245 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €6,246 | €6,245 | -€0 | 0.0% |
| Legal reserve | 130 | €6,246 | €6,245 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €538,656 | -€2,782,366 | -€3.3m | |
| Provisions and deferred taxes | 16 | €5,294 | €3,140,587 | +€3.1m | +59223.5% |
| Provisions for liabilities and charges | 160/5 | €5,294 | €3,140,587 | +€3.1m | +59223.5% |
| Other liabilities and charges | 164/5 | €5,294 | €3,140,587 | +€3.1m | +59223.5% |
| Amounts payable | 17/49 | €1,790,935 | €1,461,724 | -€329,211 | -18.4% |
| Amounts payable within one year | 42/48 | €1,790,935 | €1,461,724 | -€329,211 | -18.4% |
| Trade debts | 44 | €863,603 | €1,005,969 | +€142,366 | +16.5% |
| Suppliers | 440/4 | €863,603 | €1,005,969 | +€142,366 | +16.5% |
| Taxes, remuneration and social security | 45 | €662,607 | €455,755 | -€206,851 | -31.2% |
| Taxes | 450/3 | €97,522 | €13,107 | -€84,415 | -86.6% |
| Remuneration and social security | 454/9 | €565,085 | €442,648 | -€122,437 | -21.7% |
| Other amounts payable | 47/48 | €264,726 | - | -€264,726 | |
| Operating income | 70/76A | €7,213,355 | €6,511,254 | -€702,101 | -9.7% |
| Turnover | 70 | €6,645,299 | €6,229,541 | -€415,758 | -6.3% |
| Other operating income | 74 | €568,056 | €281,713 | -€286,343 | -50.4% |
| Operating charges | 60/66A | €6,785,660 | €6,345,948 | -€439,713 | -6.5% |
| Goods for resale, raw materials and consumables | 60 | €452,501 | €252,392 | -€200,109 | -44.2% |
| Purchases | 600/8 | €349,176 | €225,845 | -€123,330 | -35.3% |
| Change in stocks: decrease (increase) | 609 | €103,326 | €26,547 | -€76,779 | -74.3% |
| Services and other goods | 61 | €2,525,694 | €2,732,166 | +€206,472 | +8.2% |
| Remuneration, social security and pensions | 62 | €3,547,421 | €3,086,809 | -€460,612 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,526 | €201,248 | -€17,278 | -7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,044 | €17,000 | +€23,044 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,364 | - | +€1,364 | |
| Other operating charges | 640/8 | €48,926 | €56,332 | +€7,407 | +15.1% |
| Operating profit (loss) | 9901 | €427,695 | €165,307 | -€262,388 | -61.3% |
| Financial income | 75/76B | €11,345 | €12,955 | +€1,610 | +14.2% |
| Recurring financial income | 75 | €11,345 | €1,675 | -€9,669 | -85.2% |
| Other financial income | 752/9 | €11,345 | €1,675 | -€9,669 | -85.2% |
| Non-recurring financial income | 76B | - | €11,279 | +€11,279 | |
| Financial charges | 65/66B | €40,386 | €3,447,760 | +€3.4m | +8437.0% |
| Recurring financial charges | 65 | €39,136 | €8,177 | -€30,959 | -79.1% |
| Debt charges | 650 | €33,997 | €5,846 | -€28,151 | -82.8% |
| Other financial charges | 652/9 | €5,140 | €2,331 | -€2,808 | -54.6% |
| Non-recurring financial charges | 66B | €1,250 | €3,439,583 | +€3.4m | +275066.6% |
| Profit (loss) for the period before taxes | 9903 | €398,654 | -€3,269,498 | -€3.7m | |
| Income taxes | 67/77 | -€3,960 | €51,524 | +€55,484 | |
| Taxes | 670/3 | €137,163 | €51,524 | -€85,640 | -62.4% |
| Tax adjustments and reversals of tax provisions | 77 | €141,124 | - | -€141,124 | |
| Profit (loss) for the period | 9904 | €402,614 | -€3,321,022 | -€3.7m | |
| Profit (loss) for the period to be appropriated | 9905 | €402,614 | -€3,321,022 | -€3.7m |
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 10 October 2026 via checked.be.