Stefan & Co: 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.
Stefan & Co
Largest movements
- Receivables within one year -€59,394
down €59,394 (-54.8%), from €108,419 to €49,026
of which Trade receivables: -€57,806
- Cash -€42,754
down €42,754 (-95.5%), from €44,761 to €2,007
mainly Contributions, distributions and other (-€105,231) and Net result for the year (-€40,994)
- Tangible fixed assets -€16,334
down €16,334 (-30.9%), from €52,882 to €36,548
of which Furniture and vehicles: -€12,401
- Profit (loss) carried forward -€146,224
down €146,224, from €105,231 to -€40,994
- Other debts +€27,046
up €27,046 (+283.1%), from €9,554 to €36,600
- Tax, wage and social debts +€7,487
up €7,487 (+111.1%), from €6,738 to €14,225
- Current portion of long-term debt -€5,912
no longer reported in 2025 (was €5,912)
- Gross operating margin -€183,511
down €183,511, from €152,353 to -€31,158
- Taxes -€29,738
no longer reported in 2025 (was €29,738)
- Depreciation -€10,946
down €10,946 (-64.8%), from €16,904 to €5,958
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 | €209,889 | €90,869 | -€119,021 | -56.7% |
| Fixed assets | 21/28 | €52,882 | €36,548 | -€16,334 | -30.9% |
| Tangible fixed assets | 22/27 | €52,882 | €36,548 | -€16,334 | -30.9% |
| Land and buildings | 22 | €29,652 | €28,152 | -€1,500 | -5.1% |
| Plant, machinery and equipment | 23 | €8,378 | €5,945 | -€2,433 | -29.0% |
| Furniture and vehicles | 24 | €14,852 | €2,451 | -€12,401 | -83.5% |
| Current assets | 29/58 | €157,008 | €54,321 | -€102,687 | -65.4% |
| Amounts receivable within one year | 40/41 | €108,419 | €49,026 | -€59,394 | -54.8% |
| Trade receivables | 40 | €106,754 | €48,948 | -€57,806 | -54.1% |
| Other amounts receivable | 41 | €1,665 | €78 | -€1,587 | -95.3% |
| Cash at bank and in hand | 54/58 | €44,761 | €2,007 | -€42,754 | -95.5% |
| Deferred charges and accrued income | 490/1 | €3,828 | €3,289 | -€539 | -14.1% |
| Total equity and liabilities | 10/49 | €209,889 | €90,869 | -€119,021 | -56.7% |
| Equity | 10/15 | €170,631 | €24,406 | -€146,224 | -85.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €63,400 | €63,400 | = | 0.0% |
| Distributable reserves | 133 | €63,400 | €63,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,231 | -€40,994 | -€146,224 | |
| Amounts payable | 17/49 | €39,259 | €66,462 | +€27,203 | +69.3% |
| Amounts payable within one year | 42/48 | €39,259 | €66,462 | +€27,203 | +69.3% |
| Current portion of amounts payable after more than one year | 42 | €5,912 | - | -€5,912 | |
| Trade debts | 44 | €17,054 | €15,637 | -€1,418 | -8.3% |
| Suppliers | 440/4 | €17,054 | €15,637 | -€1,418 | -8.3% |
| Taxes, remuneration and social security | 45 | €6,738 | €14,225 | +€7,487 | +111.1% |
| Taxes | 450/3 | €6,738 | €14,225 | +€7,487 | +111.1% |
| Other amounts payable | 47/48 | €9,554 | €36,600 | +€27,046 | +283.1% |
| Non-recurring operating income | 76A | - | €31,259 | +€31,259 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,904 | €5,958 | -€10,946 | -64.8% |
| Other operating charges | 640/8 | €1,395 | €1,806 | +€411 | +29.5% |
| Gross operating margin | 9900 | €152,353 | -€31,158 | -€183,511 | |
| Operating profit (loss) | 9901 | €134,055 | -€38,922 | -€172,977 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +3271.4% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +3271.4% |
| Financial charges | 65/66B | €1,091 | €2,074 | +€983 | +90.1% |
| Recurring financial charges | 65 | €1,091 | €2,074 | +€983 | +90.1% |
| Profit (loss) for the period before taxes | 9903 | €132,964 | -€40,994 | -€173,957 | |
| Income taxes | 67/77 | €29,738 | - | -€29,738 | |
| Profit (loss) for the period | 9904 | €103,225 | -€40,994 | -€144,219 | |
| Profit (loss) for the period to be appropriated | 9905 | €103,225 | -€40,994 | -€144,219 |
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 6 October 2026 via checked.be.