STEFINA: 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.
STEFINA
Largest movements
- Receivables after one year +€139,364
up €139,364 (+11.4%), from €1.2m to €1.4m
- Cash -€119,680
down €119,680 (-53.6%), from €223,188 to €103,508
mainly Debts after one year (-€259,992) and Receivables after one year (-€139,364)
- Debts after one year -€259,992
down €259,992 (-7.0%), from €3.7m to €3.4m
of which Financial debts: -€259,992
- Reserves +€244,370
up €244,370 (+36.6%), from €668,440 to €912,810
of which Distributable reserves: +€244,370
- Financial income -€11,979
down €11,979 (-8.2%), from €145,244 to €133,265
- Financial charges -€8,067
down €8,067 (-10.8%), from €74,997 to €66,930
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 | €4,586,252 | €4,611,661 | +€25,409 | +0.6% |
| Fixed assets | 21/28 | €2,750,054 | €2,750,054 | = | 0.0% |
| Tangible fixed assets | 22/27 | €976,054 | €976,054 | = | 0.0% |
| Land and buildings | 22 | €976,054 | €976,054 | = | 0.0% |
| Financial fixed assets | 28 | €1,774,000 | €1,774,000 | = | 0.0% |
| Current assets | 29/58 | €1,836,198 | €1,861,607 | +€25,409 | +1.4% |
| Amounts receivable after more than one year | 29 | €1,223,701 | €1,363,065 | +€139,364 | +11.4% |
| Other amounts receivable | 291 | €1,223,701 | €1,363,065 | +€139,364 | +11.4% |
| Amounts receivable within one year | 40/41 | €386,082 | €391,781 | +€5,699 | +1.5% |
| Trade receivables | 40 | €28,921 | €18,523 | -€10,398 | -36.0% |
| Other amounts receivable | 41 | €357,161 | €373,258 | +€16,097 | +4.5% |
| Cash at bank and in hand | 54/58 | €223,188 | €103,508 | -€119,680 | -53.6% |
| Deferred charges and accrued income | 490/1 | €3,227 | €3,253 | +€26 | +0.8% |
| Total equity and liabilities | 10/49 | €4,586,252 | €4,611,661 | +€25,409 | +0.6% |
| Equity | 10/15 | €868,440 | €1,112,810 | +€244,370 | +28.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €668,440 | €912,810 | +€244,370 | +36.6% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €648,440 | €892,810 | +€244,370 | +37.7% |
| Amounts payable | 17/49 | €3,717,812 | €3,498,851 | -€218,961 | -5.9% |
| Amounts payable after more than one year | 17 | €3,700,000 | €3,440,008 | -€259,992 | -7.0% |
| Financial debts | 170/4 | €3,600,000 | €3,340,008 | -€259,992 | -7.2% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,821 | €55,998 | +€41,176 | +277.8% |
| Trade debts | 44 | €12,694 | €48,541 | +€35,847 | +282.4% |
| Suppliers | 440/4 | €12,694 | €48,541 | +€35,847 | +282.4% |
| Taxes, remuneration and social security | 45 | €2,128 | €7,457 | +€5,329 | +250.5% |
| Taxes | 450/3 | €2,128 | €7,457 | +€5,329 | +250.5% |
| Accrued charges and deferred income | 492/3 | €2,990 | €2,845 | -€145 | -4.9% |
| Other operating charges | 640/8 | €28,703 | €29,432 | +€729 | +2.5% |
| Gross operating margin | 9900 | €286,967 | €288,924 | +€1,957 | +0.7% |
| Operating profit (loss) | 9901 | €258,263 | €259,492 | +€1,228 | +0.5% |
| Financial income | 75/76B | €145,244 | €133,265 | -€11,979 | -8.2% |
| Recurring financial income | 75 | €145,244 | €133,265 | -€11,979 | -8.2% |
| Financial charges | 65/66B | €74,997 | €66,930 | -€8,067 | -10.8% |
| Recurring financial charges | 65 | €74,997 | €66,930 | -€8,067 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €328,511 | €325,827 | -€2,684 | -0.8% |
| Income taxes | 67/77 | €82,128 | €81,457 | -€671 | -0.8% |
| Profit (loss) for the period | 9904 | €246,383 | €244,370 | -€2,013 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €246,383 | €244,370 | -€2,013 | -0.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.