STEFJEL: what changed
STEFJEL
Largest movements
- Cash -€1,480
down €1,480 (-99.4%), from €1,489 to €9
mainly Net result for the year (-€2,868)
- Profit (loss) carried forward -€2,868
down €2,868 (-2.5%), from -€113,687 to -€116,555
- Gross operating margin +€17,851
up €17,851 (+85.4%), from -€20,896 to -€3,045
- Staff costs -€16,377
no longer reported in 2025 (was €16,377)
- Other operating charges -€14,395
down €14,395 (-92.6%), from €15,539 to €1,144
- Financial income +€411
up €411 (+42.5%), from €967 to €1,378
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €109,702 | €107,823 | -€1,879 | -1.7% |
| Current assets | 29/58 | €109,702 | €107,823 | -€1,879 | -1.7% |
| Amounts receivable within one year | 40/41 | €108,213 | €107,814 | -€399 | -0.4% |
| Trade receivables | 40 | €25,152 | €12,462 | -€12,690 | -50.5% |
| Other amounts receivable | 41 | €83,061 | €95,352 | +€12,291 | +14.8% |
| Cash at bank and in hand | 54/58 | €1,489 | €9 | -€1,480 | -99.4% |
| Total equity and liabilities | 10/49 | €109,702 | €107,823 | -€1,879 | -1.7% |
| Equity | 10/15 | €106,773 | €103,905 | -€2,868 | -2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €201,860 | €201,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,687 | -€116,555 | -€2,868 | -2.5% |
| Amounts payable | 17/49 | €2,929 | €3,917 | +€989 | +33.8% |
| Amounts payable after more than one year | 17 | €600 | €600 | = | 0.0% |
| Other amounts payable | 178/9 | €600 | €600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,329 | €3,317 | +€989 | +42.4% |
| Trade debts | 44 | €2,329 | €3,317 | +€989 | +42.4% |
| Suppliers | 440/4 | €2,329 | €3,317 | +€989 | +42.4% |
| Remuneration, social security and pensions | 62 | €16,377 | - | -€16,377 | |
| Other operating charges | 640/8 | €15,539 | €1,144 | -€14,395 | -92.6% |
| Gross operating margin | 9900 | -€20,896 | -€3,045 | +€17,851 | +85.4% |
| Operating profit (loss) | 9901 | -€52,811 | -€4,188 | +€48,623 | +92.1% |
| Financial income | 75/76B | €967 | €1,378 | +€411 | +42.5% |
| Recurring financial income | 75 | €967 | €1,378 | +€411 | +42.5% |
| Financial charges | 65/66B | €236 | €57 | -€178 | -75.6% |
| Recurring financial charges | 65 | €236 | €57 | -€178 | -75.6% |
| Profit (loss) for the period before taxes | 9903 | -€52,080 | -€2,868 | +€49,212 | +94.5% |
| Profit (loss) for the period | 9904 | -€52,080 | -€2,868 | +€49,212 | +94.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,080 | -€2,868 | +€49,212 | +94.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.