STEFKI: 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.
STEFKI
Largest movements
- Tangible fixed assets -€145,656
down €145,656 (-3.8%), from €3.8m to €3.7m
of which Land and buildings: -€166,521
- Cash -€135,050
down €135,050 (-83.5%), from €161,660 to €26,611
mainly Other debts (-€289,000) and Investment in fixed assets (net) (-€61,450)
- Receivables within one year -€86,268
down €86,268 (-9.5%), from €911,169 to €824,901
of which Other amounts receivable: -€85,602
- Other debts -€289,000
down €289,000 (-27.1%), from €1.1m to €777,635
- Gross operating margin -€38,937
down €38,937 (-15.6%), from €249,979 to €211,041
- Financial charges +€14,671
up €14,671 (+944.9%), from €1,553 to €16,224
- Depreciation +€8,994
up €8,994 (+4.5%), from €198,113 to €207,107
- Taxes -€3,988
down €3,988 (-69.7%), from €5,720 to €1,732
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 | €4,887,083 | €4,523,865 | -€363,219 | -7.4% |
| Fixed assets | 21/28 | €3,800,803 | €3,655,147 | -€145,656 | -3.8% |
| Tangible fixed assets | 22/27 | €3,799,083 | €3,653,426 | -€145,656 | -3.8% |
| Land and buildings | 22 | €3,782,779 | €3,616,259 | -€166,521 | -4.4% |
| Plant, machinery and equipment | 23 | €16,170 | €21,235 | +€5,065 | +31.3% |
| Furniture and vehicles | 24 | €134 | €15,933 | +€15,799 | +11830.1% |
| Financial fixed assets | 28 | €1,720 | €1,720 | = | 0.0% |
| Current assets | 29/58 | €1,086,280 | €868,718 | -€217,562 | -20.0% |
| Amounts receivable within one year | 40/41 | €911,169 | €824,901 | -€86,268 | -9.5% |
| Trade receivables | 40 | €4,762 | €4,097 | -€666 | -14.0% |
| Other amounts receivable | 41 | €906,407 | €820,804 | -€85,602 | -9.4% |
| Cash at bank and in hand | 54/58 | €161,660 | €26,611 | -€135,050 | -83.5% |
| Deferred charges and accrued income | 490/1 | €13,451 | €17,206 | +€3,755 | +27.9% |
| Total equity and liabilities | 10/49 | €4,887,083 | €4,523,865 | -€363,219 | -7.4% |
| Equity | 10/15 | €3,768,340 | €3,721,394 | -€46,947 | -1.2% |
| Contributions | 10/11 | €1,847,600 | €1,847,600 | = | 0.0% |
| Capital | 10 | €1,847,600 | €1,847,600 | = | 0.0% |
| Issued capital | 100 | €1,847,600 | €1,847,600 | = | 0.0% |
| Reserves | 13 | €228,156 | €228,156 | = | 0.0% |
| Non-distributable reserves | 130/1 | €184,760 | €184,760 | = | 0.0% |
| Legal reserve | 130 | €184,760 | €184,760 | = | 0.0% |
| Distributable reserves | 133 | €43,396 | €43,396 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,692,585 | €1,645,638 | -€46,947 | -2.8% |
| Amounts payable | 17/49 | €1,118,743 | €802,471 | -€316,272 | -28.3% |
| Amounts payable within one year | 42/48 | €1,118,743 | €802,471 | -€316,272 | -28.3% |
| Financial debts | 43 | €10,236 | €6,782 | -€3,454 | -33.7% |
| Credit institutions | 430/8 | €10,236 | €6,782 | -€3,454 | -33.7% |
| Trade debts | 44 | €23,058 | €15,254 | -€7,804 | -33.8% |
| Suppliers | 440/4 | €23,058 | €15,254 | -€7,804 | -33.8% |
| Taxes, remuneration and social security | 45 | €18,814 | €2,800 | -€16,014 | -85.1% |
| Taxes | 450/3 | €18,814 | €0 | -€18,814 | -100.0% |
| Remuneration and social security | 454/9 | - | €2,800 | +€2,800 | |
| Other amounts payable | 47/48 | €1,066,635 | €777,635 | -€289,000 | -27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,113 | €207,107 | +€8,994 | +4.5% |
| Other operating charges | 640/8 | €40,440 | €40,862 | +€422 | +1.0% |
| Gross operating margin | 9900 | €249,979 | €211,041 | -€38,937 | -15.6% |
| Operating profit (loss) | 9901 | €11,426 | -€36,927 | -€48,353 | |
| Financial income | 75/76B | €8,105 | €7,936 | -€169 | -2.1% |
| Recurring financial income | 75 | €8,105 | €7,936 | -€169 | -2.1% |
| Financial charges | 65/66B | €1,553 | €16,224 | +€14,671 | +944.9% |
| Recurring financial charges | 65 | €1,553 | €16,224 | +€14,671 | +944.9% |
| Profit (loss) for the period before taxes | 9903 | €17,978 | -€45,215 | -€63,193 | |
| Income taxes | 67/77 | €5,720 | €1,732 | -€3,988 | -69.7% |
| Profit (loss) for the period | 9904 | €12,258 | -€46,947 | -€59,204 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,258 | -€46,947 | -€59,204 |
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.