STEFANJA: 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.
STEFANJA
Largest movements
- Cash +€13,948
up €13,948 (+20.3%), from €68,574 to €82,523
mainly Net result for the year (+€7,463) and Tax, wage and social debts (+€3,733)
- Deferred charges and accrued income -€1,250
no longer reported in 2025 (was €1,250)
- Reserves +€7,450
up €7,450 (+8.8%), from €84,402 to €91,852
of which Distributable reserves: +€7,450
- Tax, wage and social debts +€3,733
up €3,733 (+125.4%), from €2,976 to €6,709
- Accrued charges and deferred income +€1,250
new in 2025: €1,250
- Gross operating margin +€1,590
up €1,590 (+12.9%), from €12,285 to €13,876
- Other operating charges -€758
down €758 (-26.1%), from €2,908 to €2,149
- Taxes +€757
up €757 (+25.4%), from €2,976 to €3,733
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 | €112,204 | €124,649 | +€12,446 | +11.1% |
| Fixed assets | 21/28 | €42,379 | €42,127 | -€252 | -0.6% |
| Tangible fixed assets | 22/27 | €42,379 | €42,127 | -€252 | -0.6% |
| Land and buildings | 22 | €42,379 | €42,127 | -€252 | -0.6% |
| Current assets | 29/58 | €69,824 | €82,523 | +€12,698 | +18.2% |
| Cash at bank and in hand | 54/58 | €68,574 | €82,523 | +€13,948 | +20.3% |
| Deferred charges and accrued income | 490/1 | €1,250 | - | -€1,250 | |
| Total equity and liabilities | 10/49 | €112,204 | €124,649 | +€12,446 | +11.1% |
| Equity | 10/15 | €106,082 | €113,545 | +€7,463 | +7.0% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €84,402 | €91,852 | +€7,450 | +8.8% |
| Non-distributable reserves | 130/1 | €1,983 | €1,983 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,983 | €1,983 | = | 0.0% |
| Distributable reserves | 133 | €82,418 | €89,868 | +€7,450 | +9.0% |
| Profit (loss) carried forward | 14 | €1,849 | €1,862 | +€13 | +0.7% |
| Amounts payable | 17/49 | €6,122 | €11,104 | +€4,983 | +81.4% |
| Amounts payable within one year | 42/48 | €6,122 | €9,854 | +€3,733 | +61.0% |
| Taxes, remuneration and social security | 45 | €2,976 | €6,709 | +€3,733 | +125.4% |
| Taxes | 450/3 | €2,976 | €6,709 | +€3,733 | +125.4% |
| Other amounts payable | 47/48 | €3,146 | €3,146 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,250 | +€1,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €252 | €252 | = | 0.0% |
| Other operating charges | 640/8 | €2,908 | €2,149 | -€758 | -26.1% |
| Gross operating margin | 9900 | €12,285 | €13,876 | +€1,590 | +12.9% |
| Operating profit (loss) | 9901 | €9,125 | €11,474 | +€2,349 | +25.7% |
| Financial charges | 65/66B | €333 | €278 | -€55 | -16.6% |
| Recurring financial charges | 65 | €333 | €278 | -€55 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €8,792 | €11,196 | +€2,404 | +27.3% |
| Income taxes | 67/77 | €2,976 | €3,733 | +€757 | +25.4% |
| Profit (loss) for the period | 9904 | €5,816 | €7,463 | +€1,647 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,816 | €7,463 | +€1,647 | +28.3% |
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 1 October 2026 via checked.be.