STEFDECO: 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.
STEFDECO
Largest movements
- Cash +€62,019
up €62,019 (+18.6%), from €334,114 to €396,133
mainly Other debts (+€174,050) and Net result for the year (+€105,056)
- Tangible fixed assets -€14,571
down €14,571 (-43.7%), from €33,310 to €18,739
of which Leasing and similar rights: -€10,241
- Receivables within one year -€4,599
down €4,599 (-16.2%), from €28,309 to €23,710
of which Other amounts receivable: -€5,325
- Other debts +€174,050
up €174,050 (+4637.0%), from €3,754 to €177,803
- Reserves -€98,089
down €98,089 (-29.9%), from €328,576 to €230,487
- Trade debts -€25,198
down €25,198 (-89.6%), from €28,125 to €2,927
- Debts after one year -€10,637
down €10,637 (-100.0%), from €10,637 to €0
No income-statement line moved by more than 1% of the activity.
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 | €398,066 | €440,999 | +€42,933 | +10.8% |
| Fixed assets | 21/28 | €33,310 | €18,739 | -€14,571 | -43.7% |
| Tangible fixed assets | 22/27 | €33,310 | €18,739 | -€14,571 | -43.7% |
| Furniture and vehicles | 24 | €8,312 | €4,821 | -€3,491 | -42.0% |
| Leasing and similar rights | 25 | €20,341 | €10,101 | -€10,241 | -50.3% |
| Other tangible fixed assets | 26 | €4,657 | €3,818 | -€839 | -18.0% |
| Current assets | 29/58 | €364,756 | €422,259 | +€57,504 | +15.8% |
| Amounts receivable within one year | 40/41 | €28,309 | €23,710 | -€4,599 | -16.2% |
| Trade receivables | 40 | €22,984 | €23,710 | +€726 | +3.2% |
| Other amounts receivable | 41 | €5,325 | €0 | -€5,325 | -100.0% |
| Cash at bank and in hand | 54/58 | €334,114 | €396,133 | +€62,019 | +18.6% |
| Deferred charges and accrued income | 490/1 | €2,333 | €2,416 | +€83 | +3.6% |
| Total equity and liabilities | 10/49 | €398,066 | €440,999 | +€42,933 | +10.8% |
| Equity | 10/15 | €333,676 | €235,587 | -€98,089 | -29.4% |
| Contributions | 10/11 | €5,100 | €5,100 | = | 0.0% |
| Reserves | 13 | €328,576 | €230,487 | -€98,089 | -29.9% |
| Distributable reserves | 133 | €328,576 | €230,487 | -€98,089 | -29.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €64,390 | €205,412 | +€141,022 | +219.0% |
| Amounts payable after more than one year | 17 | €10,637 | €0 | -€10,637 | -100.0% |
| Financial debts | 170/4 | €10,637 | €0 | -€10,637 | -100.0% |
| Amounts payable within one year | 42/48 | €53,753 | €205,412 | +€151,659 | +282.1% |
| Current portion of amounts payable after more than one year | 42 | €10,435 | €10,637 | +€202 | +1.9% |
| Trade debts | 44 | €28,125 | €2,927 | -€25,198 | -89.6% |
| Suppliers | 440/4 | €28,125 | €2,927 | -€25,198 | -89.6% |
| Taxes, remuneration and social security | 45 | €11,440 | €14,045 | +€2,606 | +22.8% |
| Taxes | 450/3 | €11,440 | €14,045 | +€2,606 | +22.8% |
| Other amounts payable | 47/48 | €3,754 | €177,803 | +€174,050 | +4637.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,571 | €14,571 | = | 0.0% |
| Other operating charges | 640/8 | €2,120 | €2,142 | +€21 | +1.0% |
| Gross operating margin | 9900 | €150,726 | €151,315 | +€589 | +0.4% |
| Operating profit (loss) | 9901 | €134,034 | €134,603 | +€568 | +0.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €623 | €427 | -€197 | -31.5% |
| Recurring financial charges | 65 | €623 | €427 | -€197 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €133,412 | €134,176 | +€764 | +0.6% |
| Income taxes | 67/77 | €29,675 | €29,120 | -€555 | -1.9% |
| Profit (loss) for the period | 9904 | €103,737 | €105,056 | +€1,319 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €103,737 | €105,056 | +€1,319 | +1.3% |
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 9 October 2026 via checked.be.