STEFANO: 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.
STEFANO
Largest movements
- Receivables within one year +€2,035
up €2,035 (+60.0%), from €3,392 to €5,427
- Tangible fixed assets -€1,708
down €1,708 (-38.9%), from €4,387 to €2,679
of which Furniture and vehicles: -€1,448
- Cash -€710
down €710 (-73.0%), from €972 to €262
mainly Net result for the year (-€18,995) and Trade debts (-€6,791)
- Deferred charges and accrued income -€281
down €281 (-69.6%), from €404 to €123
- Other debts +€27,296
up €27,296 (+1299.8%), from €2,100 to €29,396
- Profit (loss) carried forward -€18,995
down €18,995 (-103.1%), from -€18,432 to -€37,427
- Trade debts -€6,791
no longer reported in 2025 (was €6,791)
- Tax, wage and social debts -€2,173
down €2,173 (-24.6%), from €8,832 to €6,660
of which Remuneration and social security: -€2,065
- Turnover -€396,799
no longer reported in 2025 (was €396,799)
- Purchases and services -€360,041
down €360,041 (-90.0%), from €400,192 to €40,150
- Staff costs -€30,453
down €30,453 (-97.7%), from €31,185 to €732
- Gross operating margin -€18,468
down €18,468, from €2,691 to -€15,777
- Taxes -€5,040
no longer reported in 2025 (was €5,040)
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 | €21,923 | €21,260 | -€663 | -3.0% |
| Fixed assets | 21/28 | €17,155 | €15,447 | -€1,708 | -10.0% |
| Tangible fixed assets | 22/27 | €4,387 | €2,679 | -€1,708 | -38.9% |
| Plant, machinery and equipment | 23 | €561 | €301 | -€260 | -46.3% |
| Furniture and vehicles | 24 | €3,826 | €2,378 | -€1,448 | -37.9% |
| Financial fixed assets | 28 | €12,768 | €12,768 | = | 0.0% |
| Current assets | 29/58 | €4,768 | €5,813 | +€1,045 | +21.9% |
| Amounts receivable within one year | 40/41 | €3,392 | €5,427 | +€2,035 | +60.0% |
| Other amounts receivable | 41 | €3,392 | €5,427 | +€2,035 | +60.0% |
| Cash at bank and in hand | 54/58 | €972 | €262 | -€710 | -73.0% |
| Deferred charges and accrued income | 490/1 | €404 | €123 | -€281 | -69.6% |
| Total equity and liabilities | 10/49 | €21,923 | €21,260 | -€663 | -3.0% |
| Equity | 10/15 | €4,200 | -€14,795 | -€18,995 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €4,040 | €4,040 | = | 0.0% |
| Non-distributable reserves | 130/1 | €568 | €568 | = | 0.0% |
| Reserves not available under the articles | 1311 | €568 | €568 | = | 0.0% |
| Distributable reserves | 133 | €3,472 | €3,472 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,432 | -€37,427 | -€18,995 | -103.1% |
| Amounts payable | 17/49 | €17,723 | €36,055 | +€18,332 | +103.4% |
| Amounts payable within one year | 42/48 | €17,723 | €36,055 | +€18,332 | +103.4% |
| Trade debts | 44 | €6,791 | - | -€6,791 | |
| Suppliers | 440/4 | €6,791 | - | -€6,791 | |
| Taxes, remuneration and social security | 45 | €8,832 | €6,660 | -€2,173 | -24.6% |
| Taxes | 450/3 | €108 | - | -€108 | |
| Remuneration and social security | 454/9 | €8,724 | €6,660 | -€2,065 | -23.7% |
| Other amounts payable | 47/48 | €2,100 | €29,396 | +€27,296 | +1299.8% |
| Turnover | 70 | €396,799 | - | -€396,799 | |
| Goods, raw materials, services and sundry goods | 60/61 | €400,192 | €40,150 | -€360,041 | -90.0% |
| Remuneration, social security and pensions | 62 | €31,185 | €732 | -€30,453 | -97.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,814 | €1,708 | -€106 | -5.8% |
| Other operating charges | 640/8 | €1,528 | €576 | -€952 | -62.3% |
| Gross operating margin | 9900 | €2,691 | -€15,777 | -€18,468 | |
| Operating profit (loss) | 9901 | -€31,836 | -€18,793 | +€13,043 | +41.0% |
| Financial charges | 65/66B | €180 | €202 | +€22 | +12.2% |
| Recurring financial charges | 65 | €180 | €202 | +€22 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | -€32,016 | -€18,995 | +€13,021 | +40.7% |
| Income taxes | 67/77 | €5,040 | - | -€5,040 | |
| Profit (loss) for the period | 9904 | -€37,056 | -€18,995 | +€18,061 | +48.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,056 | -€18,995 | +€18,061 | +48.7% |
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.