STEFAAN WERA: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
STEFAAN WERA
Largest movements
- Receivables after one year -€15,000
no longer reported in 2025 (was €15,000)
- Receivables within one year +€14,019
up €14,019 (+285%), from €4,919 to €18,938
of which Other amounts receivable: +€15,768
- Financial fixed assets +€10,005
up €10,005 (+10.4%), from €95,896 to €105,901
- Tangible fixed assets -€7,458
down €7,458 (-19.2%), from €38,743 to €31,285
of which Furniture and vehicles: -€7,458
- Cash -€3,260
down €3,260 (-12.7%), from €25,617 to €22,357
mainly Net result for the year (-€16,331) and Receivables within one year (-€14,019)
- Other debts +€18,210
up €18,210 (+38.2%), from €47,704 to €65,914
- Profit (loss) carried forward -€16,331
down €16,331, from €6,818 to -€9,513
- Gross operating margin -€23,586
down €23,586, from €14,970 to -€8,616
- Financial income -€21,016
down €21,016 (-99.4%), from €21,135 to €119
- Taxes -€10,778
down €10,778 (-98.4%), from €10,952 to €174
- Depreciation +€6,709
up €6,709 (+896%), from €749 to €7,458
- Financial charges -€1,305
down €1,305 (-86.6%), from €1,507 to €202
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 | €233,970 | €232,828 | -€1,142 | -0.5% |
| Fixed assets | 21/28 | €134,639 | €137,186 | +€2,547 | +1.9% |
| Tangible fixed assets | 22/27 | €38,743 | €31,285 | -€7,458 | -19.2% |
| Land and buildings | 22 | €2,076 | €2,076 | = | 0.0% |
| Furniture and vehicles | 24 | €36,667 | €29,209 | -€7,458 | -20.3% |
| Financial fixed assets | 28 | €95,896 | €105,901 | +€10,005 | +10.4% |
| Current assets | 29/58 | €99,331 | €95,642 | -€3,689 | -3.7% |
| Amounts receivable after more than one year | 29 | €15,000 | - | -€15,000 | |
| Other amounts receivable | 291 | €15,000 | - | -€15,000 | |
| Amounts receivable within one year | 40/41 | €4,919 | €18,938 | +€14,019 | +285% |
| Trade receivables | 40 | €2,354 | €605 | -€1,749 | -74.3% |
| Other amounts receivable | 41 | €2,565 | €18,333 | +€15,768 | +615% |
| Current investments | 50/53 | €52,398 | €52,398 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €25,617 | €22,357 | -€3,260 | -12.7% |
| Deferred charges and accrued income | 490/1 | €1,397 | €1,949 | +€552 | +39.5% |
| Total equity and liabilities | 10/49 | €233,970 | €232,828 | -€1,142 | -0.5% |
| Equity | 10/15 | €182,632 | €166,301 | -€16,331 | -8.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €163,414 | €163,414 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,890 | €3,890 | = | 0.0% |
| Distributable reserves | 133 | €159,524 | €159,524 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,818 | -€9,513 | -€16,331 | |
| Amounts payable | 17/49 | €51,338 | €66,527 | +€15,189 | +29.6% |
| Amounts payable within one year | 42/48 | €51,338 | €66,527 | +€15,189 | +29.6% |
| Trade debts | 44 | €1,090 | €224 | -€866 | -79.4% |
| Suppliers | 440/4 | €1,090 | €224 | -€866 | -79.4% |
| Taxes, remuneration and social security | 45 | €2,544 | €389 | -€2,155 | -84.7% |
| Taxes | 450/3 | €2,544 | €389 | -€2,155 | -84.7% |
| Other amounts payable | 47/48 | €47,704 | €65,914 | +€18,210 | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €749 | €7,458 | +€6,709 | +896% |
| Gross operating margin | 9900 | €14,970 | -€8,616 | -€23,586 | |
| Operating profit (loss) | 9901 | €14,221 | -€16,074 | -€30,295 | |
| Financial income | 75/76B | €21,135 | €119 | -€21,016 | -99.4% |
| Recurring financial income | 75 | €21,135 | €119 | -€21,016 | -99.4% |
| Financial charges | 65/66B | €1,507 | €202 | -€1,305 | -86.6% |
| Recurring financial charges | 65 | €1,507 | €202 | -€1,305 | -86.6% |
| Profit (loss) for the period before taxes | 9903 | €33,849 | -€16,157 | -€50,006 | |
| Income taxes | 67/77 | €10,952 | €174 | -€10,778 | -98.4% |
| Profit (loss) for the period | 9904 | €22,897 | -€16,331 | -€39,228 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,897 | -€16,331 | -€39,228 |
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 1 November 2026 via checked.be.