STEF OPTIEK: 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 OPTIEK
Largest movements
- Cash -€51,861
down €51,861 (-60.5%), from €85,751 to €33,891
mainly Contributions, distributions and other (-€50,000) and Trade debts (-€30,099)
- Tangible fixed assets +€10,909
up €10,909 (+18.8%), from €57,922 to €68,831
of which Furniture and vehicles: +€9,732
- Receivables within one year +€2,827
up €2,827 (+97.2%), from €2,909 to €5,736
of which Trade receivables: +€2,611
- Trade debts -€30,099
no longer reported in 2025 (was €30,099)
- Reserves -€12,471
down €12,471 (-10.1%), from €123,192 to €110,721
- Tax, wage and social debts +€4,367
up €4,367 (+170.6%), from €2,560 to €6,927
- Depreciation -€2,518
down €2,518 (-22.7%), from €11,098 to €8,580
- Gross operating margin +€1,377
up €1,377 (+2.5%), from €55,464 to €56,841
- Taxes +€846
up €846 (+6.9%), from €12,324 to €13,170
- Financial income +€738
up €738 (+33.4%), from €2,206 to €2,944
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 | €180,694 | €142,490 | -€38,203 | -21.1% |
| Fixed assets | 21/28 | €57,922 | €68,831 | +€10,909 | +18.8% |
| Tangible fixed assets | 22/27 | €57,922 | €68,831 | +€10,909 | +18.8% |
| Plant, machinery and equipment | 23 | €3,230 | €4,790 | +€1,560 | +48.3% |
| Furniture and vehicles | 24 | €52,250 | €61,982 | +€9,732 | +18.6% |
| Other tangible fixed assets | 26 | €2,442 | €2,059 | -€383 | -15.7% |
| Current assets | 29/58 | €122,772 | €73,660 | -€49,112 | -40.0% |
| Stocks and contracts in progress | 3 | €31,512 | €31,433 | -€79 | -0.3% |
| Stocks | 30/36 | €31,512 | €31,433 | -€79 | -0.3% |
| Amounts receivable within one year | 40/41 | €2,909 | €5,736 | +€2,827 | +97.2% |
| Trade receivables | 40 | - | €2,611 | +€2,611 | |
| Other amounts receivable | 41 | €2,909 | €3,125 | +€216 | +7.4% |
| Cash at bank and in hand | 54/58 | €85,751 | €33,891 | -€51,861 | -60.5% |
| Deferred charges and accrued income | 490/1 | €2,600 | €2,600 | = | 0.0% |
| Total equity and liabilities | 10/49 | €180,694 | €142,490 | -€38,203 | -21.1% |
| Equity | 10/15 | €143,192 | €130,721 | -€12,471 | -8.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €123,192 | €110,721 | -€12,471 | -10.1% |
| Distributable reserves | 133 | €123,192 | €110,721 | -€12,471 | -10.1% |
| Amounts payable | 17/49 | €37,502 | €11,770 | -€25,732 | -68.6% |
| Amounts payable within one year | 42/48 | €37,502 | €11,770 | -€25,732 | -68.6% |
| Trade debts | 44 | €30,099 | - | -€30,099 | |
| Suppliers | 440/4 | €30,099 | - | -€30,099 | |
| Taxes, remuneration and social security | 45 | €2,560 | €6,927 | +€4,367 | +170.6% |
| Taxes | 450/3 | €2,560 | €6,927 | +€4,367 | +170.6% |
| Other amounts payable | 47/48 | €4,842 | €4,842 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,479 | +€2,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,098 | €8,580 | -€2,518 | -22.7% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €55,464 | €56,841 | +€1,377 | +2.5% |
| Operating profit (loss) | 9901 | €43,915 | €47,795 | +€3,880 | +8.8% |
| Financial income | 75/76B | €2,206 | €2,944 | +€738 | +33.4% |
| Recurring financial income | 75 | €2,206 | €2,944 | +€738 | +33.4% |
| Financial charges | 65/66B | - | €41 | +€41 | |
| Recurring financial charges | 65 | - | €41 | +€41 | |
| Profit (loss) for the period before taxes | 9903 | €46,121 | €50,699 | +€4,577 | +9.9% |
| Income taxes | 67/77 | €12,324 | €13,170 | +€846 | +6.9% |
| Profit (loss) for the period | 9904 | €33,798 | €37,529 | +€3,731 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,798 | €37,529 | +€3,731 | +11.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.