STEFAN GROUP: 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.
STEFAN GROUP
Largest movements
- Cash -€11,126
down €11,126 (-59.1%), from €18,827 to €7,701
mainly Contributions, distributions and other (-€34,528) and Receivables within one year (-€3,515)
- Receivables within one year +€3,515
up €3,515 (+35.9%), from €9,787 to €13,302
- Profit (loss) carried forward -€21,000
down €21,000 (-71.3%), from €29,467 to €8,467
- Accrued charges and deferred income +€14,528
new in 2025: €14,528
- Tax, wage and social debts -€2,139
no longer reported in 2025 (was €2,139)
- Contributions +€1,000
new in 2025: €1,000
- Gross operating margin -€9,791
down €9,791 (-14.8%), from €66,229 to €56,438
- Staff costs +€2,955
up €2,955 (+8.4%), from €35,354 to €38,309
- Other operating charges +€1,109
up €1,109 (+78.8%), from €1,407 to €2,517
- Taxes +€1,084
new in 2025: €1,084
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.
Derived cash bridge
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 | €31,606 | €23,995 | -€7,611 | -24.1% |
| Fixed assets | 21/28 | €2,993 | €2,993 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,993 | €2,993 | = | 0.0% |
| Furniture and vehicles | 24 | €2,993 | €2,993 | = | 0.0% |
| Current assets | 29/58 | €28,613 | €21,002 | -€7,611 | -26.6% |
| Amounts receivable within one year | 40/41 | €9,787 | €13,302 | +€3,515 | +35.9% |
| Other amounts receivable | 41 | €9,787 | €13,302 | +€3,515 | +35.9% |
| Cash at bank and in hand | 54/58 | €18,827 | €7,701 | -€11,126 | -59.1% |
| Total equity and liabilities | 10/49 | €31,606 | €23,995 | -€7,611 | -24.1% |
| Equity | 10/15 | €29,467 | €9,467 | -€20,000 | -67.9% |
| Contributions | 10/11 | - | €1,000 | +€1,000 | |
| Capital | 10 | - | €1,000 | +€1,000 | |
| Issued capital | 100 | - | €1,000 | +€1,000 | |
| Profit (loss) carried forward | 14 | €29,467 | €8,467 | -€21,000 | -71.3% |
| Amounts payable | 17/49 | €2,139 | €14,528 | +€12,389 | +579% |
| Amounts payable within one year | 42/48 | €2,139 | - | -€2,139 | |
| Taxes, remuneration and social security | 45 | €2,139 | - | -€2,139 | |
| Taxes | 450/3 | €2,139 | - | -€2,139 | |
| Accrued charges and deferred income | 492/3 | - | €14,528 | +€14,528 | |
| Remuneration, social security and pensions | 62 | €35,354 | €38,309 | +€2,955 | +8.4% |
| Other operating charges | 640/8 | €1,407 | €2,517 | +€1,109 | +78.8% |
| Gross operating margin | 9900 | €66,229 | €56,438 | -€9,791 | -14.8% |
| Operating profit (loss) | 9901 | €29,467 | €15,612 | -€13,855 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | €29,467 | €15,612 | -€13,855 | -47.0% |
| Income taxes | 67/77 | - | €1,084 | +€1,084 | |
| Profit (loss) for the period | 9904 | €29,467 | €14,528 | -€14,939 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,467 | €14,528 | -€14,939 | -50.7% |
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 23 October 2026 via checked.be.