STEFFI: 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.
STEFFI
Largest movements
- Receivables within one year -€11,592
down €11,592 (-66.7%), from €17,387 to €5,795
of which Trade receivables: -€10,020
- Cash +€7,878
up €7,878 (+194.6%), from €4,048 to €11,926
mainly Short-term financial debts (+€200,000) and Depreciation (+€42,037)
- Deferred charges and accrued income +€7,244
new in 2025: €7,244
- Short-term financial debts +€200,000
new in 2025: €200,000
- Other debts -€184,594
down €184,594 (-52.5%), from €351,594 to €167,000
- Debts after one year -€18,249
down €18,249 (-22.8%), from €79,934 to €61,685
- Trade debts +€15,433
up €15,433 (+364.0%), from €4,239 to €19,672
- Profit (loss) carried forward -€12,847
down €12,847 (-13.4%), from -€95,910 to -€108,757
- Depreciation +€17,467
up €17,467 (+71.1%), from €24,569 to €42,037
- Gross operating margin +€8,113
up €8,113 (+20.9%), from €38,842 to €46,955
- Financial charges +€7,659
up €7,659 (+214.6%), from €3,570 to €11,229
- Other operating charges +€1,917
up €1,917 (+45.5%), from €4,217 to €6,134
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 | €385,348 | €390,474 | +€5,126 | +1.3% |
| Fixed assets | 21/28 | €361,538 | €364,632 | +€3,095 | +0.9% |
| Intangible fixed assets | 21 | - | €1,023 | +€1,023 | |
| Tangible fixed assets | 22/27 | €361,538 | €363,609 | +€2,072 | +0.6% |
| Land and buildings | 22 | €306,392 | €319,780 | +€13,388 | +4.4% |
| Plant, machinery and equipment | 23 | €560 | €350 | -€210 | -37.5% |
| Furniture and vehicles | 24 | €54,585 | €43,479 | -€11,106 | -20.3% |
| Current assets | 29/58 | €23,810 | €25,841 | +€2,031 | +8.5% |
| Stocks and contracts in progress | 3 | €2,375 | €876 | -€1,499 | -63.1% |
| Stocks | 30/36 | €2,375 | €876 | -€1,499 | -63.1% |
| Amounts receivable within one year | 40/41 | €17,387 | €5,795 | -€11,592 | -66.7% |
| Trade receivables | 40 | €10,537 | €517 | -€10,020 | -95.1% |
| Other amounts receivable | 41 | €6,850 | €5,278 | -€1,572 | -23.0% |
| Cash at bank and in hand | 54/58 | €4,048 | €11,926 | +€7,878 | +194.6% |
| Deferred charges and accrued income | 490/1 | - | €7,244 | +€7,244 | |
| Total equity and liabilities | 10/49 | €385,348 | €390,474 | +€5,126 | +1.3% |
| Equity | 10/15 | -€70,910 | -€83,757 | -€12,847 | -18.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,910 | -€108,757 | -€12,847 | -13.4% |
| Amounts payable | 17/49 | €456,258 | €474,231 | +€17,973 | +3.9% |
| Amounts payable after more than one year | 17 | €79,934 | €61,685 | -€18,249 | -22.8% |
| Financial debts | 170/4 | €79,934 | €61,685 | -€18,249 | -22.8% |
| Amounts payable within one year | 42/48 | €375,659 | €412,133 | +€36,474 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €17,992 | €18,249 | +€257 | +1.4% |
| Financial debts | 43 | - | €200,000 | +€200,000 | |
| Credit institutions | 430/8 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €4,239 | €19,672 | +€15,433 | +364.0% |
| Suppliers | 440/4 | €4,239 | €19,672 | +€15,433 | +364.0% |
| Taxes, remuneration and social security | 45 | €1,833 | €7,211 | +€5,378 | +293.4% |
| Taxes | 450/3 | €265 | €7,211 | +€6,947 | +2626.2% |
| Remuneration and social security | 454/9 | €1,568 | €0 | -€1,568 | -100.0% |
| Other amounts payable | 47/48 | €351,594 | €167,000 | -€184,594 | -52.5% |
| Accrued charges and deferred income | 492/3 | €666 | €414 | -€252 | -37.9% |
| Non-recurring operating income | 76A | - | €11,944 | +€11,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,569 | €42,037 | +€17,467 | +71.1% |
| Other operating charges | 640/8 | €4,217 | €6,134 | +€1,917 | +45.5% |
| Gross operating margin | 9900 | €38,842 | €46,955 | +€8,113 | +20.9% |
| Operating profit (loss) | 9901 | €10,055 | -€1,216 | -€11,271 | |
| Financial income | 75/76B | - | €51 | +€51 | |
| Recurring financial income | 75 | - | €51 | +€51 | |
| Financial charges | 65/66B | €3,570 | €11,229 | +€7,659 | +214.6% |
| Recurring financial charges | 65 | €3,570 | €11,229 | +€7,659 | +214.6% |
| Profit (loss) for the period before taxes | 9903 | €6,486 | -€12,393 | -€18,879 | |
| Income taxes | 67/77 | - | €454 | +€454 | |
| Profit (loss) for the period | 9904 | €6,486 | -€12,847 | -€19,333 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,486 | -€12,847 | -€19,333 |
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 9 October 2026 via checked.be.