Stefania: 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.
Stefania
Largest movements
- Receivables within one year +€29,574
up €29,574 (+224.2%), from €13,193 to €42,767
of which Trade receivables: +€27,955
- Cash +€3,233
up €3,233 (+123.8%), from €2,612 to €5,845
mainly Net result for the year (+€31,780) and Depreciation (+€1,452)
- Tangible fixed assets -€812
down €812 (-100.0%), from €812 to €0
of which Plant, machinery and equipment: -€417
- Intangible fixed assets -€640
no longer reported in 2025 (was €640)
- Profit (loss) carried forward +€31,780
up €31,780, from -€9,103 to €22,677
- Trade debts -€1,427
down €1,427 (-14.2%), from €10,046 to €8,619
- Tax, wage and social debts +€1,002
up €1,002 (+7.2%), from €13,869 to €14,871
of which Taxes: +€1,002
- Gross operating margin +€40,122
up €40,122, from -€6,653 to €33,469
- Other operating charges -€3,479
no longer reported in 2025 (was €3,479)
- Taxes -€1,066
no longer reported in 2025 (was €1,066)
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 | €21,312 | €52,667 | +€31,356 | +147.1% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,452 | €0 | -€1,452 | -100.0% |
| Intangible fixed assets | 21 | €640 | - | -€640 | |
| Tangible fixed assets | 22/27 | €812 | €0 | -€812 | -100.0% |
| Plant, machinery and equipment | 23 | €417 | - | -€417 | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Other tangible fixed assets | 26 | €396 | €0 | -€396 | -100.0% |
| Current assets | 29/58 | €19,860 | €52,667 | +€32,808 | +165.2% |
| Stocks and contracts in progress | 3 | €4,055 | €4,055 | = | 0.0% |
| Stocks | 30/36 | €4,055 | €4,055 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,193 | €42,767 | +€29,574 | +224.2% |
| Trade receivables | 40 | €11,323 | €39,278 | +€27,955 | +246.9% |
| Other amounts receivable | 41 | €1,870 | €3,489 | +€1,619 | +86.6% |
| Cash at bank and in hand | 54/58 | €2,612 | €5,845 | +€3,233 | +123.8% |
| Total equity and liabilities | 10/49 | €21,312 | €52,667 | +€31,356 | +147.1% |
| Equity | 10/15 | -€2,603 | €29,177 | +€31,780 | |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,103 | €22,677 | +€31,780 | |
| Amounts payable | 17/49 | €23,915 | €23,490 | -€425 | -1.8% |
| Amounts payable within one year | 42/48 | €23,915 | €23,490 | -€425 | -1.8% |
| Trade debts | 44 | €10,046 | €8,619 | -€1,427 | -14.2% |
| Suppliers | 440/4 | €10,046 | €8,619 | -€1,427 | -14.2% |
| Taxes, remuneration and social security | 45 | €13,869 | €14,871 | +€1,002 | +7.2% |
| Taxes | 450/3 | €11,994 | €12,996 | +€1,002 | +8.4% |
| Remuneration and social security | 454/9 | €1,875 | €1,875 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,473 | €1,452 | -€21 | -1.4% |
| Other operating charges | 640/8 | €3,479 | - | -€3,479 | |
| Gross operating margin | 9900 | -€6,653 | €33,469 | +€40,122 | |
| Operating profit (loss) | 9901 | -€11,605 | €32,017 | +€43,622 | |
| Financial income | 75/76B | €57 | €0 | -€56 | -99.6% |
| Recurring financial income | 75 | €57 | €0 | -€56 | -99.6% |
| Financial charges | 65/66B | €257 | €236 | -€20 | -8.0% |
| Recurring financial charges | 65 | €257 | €236 | -€20 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,805 | €31,780 | +€43,586 | |
| Income taxes | 67/77 | €1,066 | - | -€1,066 | |
| Profit (loss) for the period | 9904 | -€12,871 | €31,780 | +€44,652 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,871 | €31,780 | +€44,652 |
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 12 October 2026 via checked.be.