Stefanieco: 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.
Stefanieco
Largest movements
- Receivables within one year +€17,190
up €17,190 (+744.1%), from €2,310 to €19,500
of which Trade receivables: +€17,077
- Cash -€12,702
down €12,702 (-61.2%), from €20,751 to €8,048
mainly Receivables within one year (-€17,190) and Tax, wage and social debts (-€11,187)
- Tangible fixed assets -€4,629
down €4,629 (-3.5%), from €132,607 to €127,978
of which Land and buildings: -€3,402
- Tax, wage and social debts -€11,187
down €11,187 (-60.2%), from €18,590 to €7,403
- Reserves +€8,333
up €8,333 (+10.1%), from €82,719 to €91,052
- Debts after one year -€7,784
down €7,784 (-19.7%), from €39,603 to €31,819
- Profit (loss) carried forward +€3,084
up €3,084, from -€3,084 to €0
- Trade debts +€3,024
up €3,024 (+2969.8%), from €102 to €3,126
- Gross operating margin +€20,472
up €20,472 (+276.5%), from €7,405 to €27,877
- Taxes +€5,698
up €5,698 (+478.8%), from €1,190 to €6,888
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 | €157,755 | €157,857 | +€102 | +0.1% |
| Fixed assets | 21/28 | €132,607 | €127,978 | -€4,629 | -3.5% |
| Tangible fixed assets | 22/27 | €132,607 | €127,978 | -€4,629 | -3.5% |
| Land and buildings | 22 | €128,673 | €125,271 | -€3,402 | -2.6% |
| Plant, machinery and equipment | 23 | €1,753 | €1,373 | -€380 | -21.7% |
| Furniture and vehicles | 24 | €2,181 | €1,334 | -€847 | -38.8% |
| Current assets | 29/58 | €25,148 | €29,879 | +€4,731 | +18.8% |
| Amounts receivable within one year | 40/41 | €2,310 | €19,500 | +€17,190 | +744.1% |
| Trade receivables | 40 | €0 | €17,077 | +€17,077 | |
| Other amounts receivable | 41 | €2,310 | €2,422 | +€112 | +4.9% |
| Cash at bank and in hand | 54/58 | €20,751 | €8,048 | -€12,702 | -61.2% |
| Deferred charges and accrued income | 490/1 | €2,087 | €2,331 | +€243 | +11.7% |
| Total equity and liabilities | 10/49 | €157,755 | €157,857 | +€102 | +0.1% |
| Equity | 10/15 | €84,413 | €95,830 | +€11,416 | +13.5% |
| Contributions | 10/11 | €4,778 | €4,778 | = | 0.0% |
| Reserves | 13 | €82,719 | €91,052 | +€8,333 | +10.1% |
| Distributable reserves | 133 | €82,719 | €91,052 | +€8,333 | +10.1% |
| Profit (loss) carried forward | 14 | -€3,084 | €0 | +€3,084 | |
| Amounts payable | 17/49 | €73,342 | €62,027 | -€11,314 | -15.4% |
| Amounts payable after more than one year | 17 | €39,603 | €31,819 | -€7,784 | -19.7% |
| Financial debts | 170/4 | €39,603 | €31,819 | -€7,784 | -19.7% |
| Amounts payable within one year | 42/48 | €32,724 | €29,164 | -€3,560 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €7,587 | €7,784 | +€197 | +2.6% |
| Trade debts | 44 | €102 | €3,126 | +€3,024 | +2969.8% |
| Suppliers | 440/4 | €102 | €3,126 | +€3,024 | +2969.8% |
| Advances received on contracts in progress | 46 | - | €2,860 | +€2,860 | |
| Taxes, remuneration and social security | 45 | €18,590 | €7,403 | -€11,187 | -60.2% |
| Taxes | 450/3 | €18,590 | €7,403 | -€11,187 | -60.2% |
| Other amounts payable | 47/48 | €6,445 | €7,991 | +€1,545 | +24.0% |
| Accrued charges and deferred income | 492/3 | €1,015 | €1,045 | +€30 | +3.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,629 | €4,629 | = | 0.0% |
| Other operating charges | 640/8 | €3,676 | €3,684 | +€8 | +0.2% |
| Gross operating margin | 9900 | €7,405 | €27,877 | +€20,472 | +276.5% |
| Operating profit (loss) | 9901 | -€900 | €19,564 | +€20,464 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €994 | €1,260 | +€266 | +26.7% |
| Recurring financial charges | 65 | €994 | €1,260 | +€266 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,894 | €18,304 | +€20,198 | |
| Income taxes | 67/77 | €1,190 | €6,888 | +€5,698 | +478.8% |
| Profit (loss) for the period | 9904 | -€3,084 | €11,416 | +€14,500 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,084 | €11,416 | +€14,500 |
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 7 October 2026 via checked.be.