STEFKUUB: 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.
STEFKUUB
Largest movements
- Receivables within one year +€34,240
up €34,240 (+134.4%), from €25,476 to €59,716
of which Trade receivables: +€24,785
- Cash -€19,457
down €19,457 (-40.8%), from €47,725 to €28,267
mainly Receivables within one year (-€34,240) and Investment in fixed assets (net) (-€23,995)
- Tangible fixed assets +€5,087
up €5,087 (+7.8%), from €65,130 to €70,216
of which Plant, machinery and equipment: +€7,842
- Profit (loss) carried forward +€19,928
up €19,928, from €0 to €19,928
- Debts after one year -€3,654
down €3,654 (-13.6%), from €26,848 to €23,194
- Current portion of long-term debt +€2,300
up €2,300 (+13.9%), from €16,557 to €18,858
- Short-term financial debts +€1,854
new in 2025: €1,854
- Depreciation +€4,803
up €4,803 (+33.9%), from €14,163 to €18,966
- Gross operating margin +€2,494
up €2,494 (+5.6%), from €44,867 to €47,361
- Taxes -€667
down €667 (-10.7%), from €6,257 to €5,590
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 | €141,946 | €161,793 | +€19,847 | +14.0% |
| Formation expenses | 20 | €58 | €0 | -€58 | -100.0% |
| Fixed assets | 21/28 | €65,130 | €70,216 | +€5,087 | +7.8% |
| Tangible fixed assets | 22/27 | €65,130 | €70,216 | +€5,087 | +7.8% |
| Plant, machinery and equipment | 23 | €58,209 | €66,050 | +€7,842 | +13.5% |
| Furniture and vehicles | 24 | €6,921 | €4,166 | -€2,755 | -39.8% |
| Current assets | 29/58 | €76,758 | €91,577 | +€14,818 | +19.3% |
| Amounts receivable within one year | 40/41 | €25,476 | €59,716 | +€34,240 | +134.4% |
| Trade receivables | 40 | €19,378 | €44,162 | +€24,785 | +127.9% |
| Other amounts receivable | 41 | €6,099 | €15,554 | +€9,455 | +155.0% |
| Cash at bank and in hand | 54/58 | €47,725 | €28,267 | -€19,457 | -40.8% |
| Deferred charges and accrued income | 490/1 | €3,558 | €3,593 | +€36 | +1.0% |
| Total equity and liabilities | 10/49 | €141,946 | €161,793 | +€19,847 | +14.0% |
| Equity | 10/15 | €95,193 | €115,121 | +€19,928 | +20.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €90,193 | €90,193 | = | 0.0% |
| Distributable reserves | 133 | €90,193 | €90,193 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €19,928 | +€19,928 | |
| Amounts payable | 17/49 | €46,753 | €46,672 | -€81 | -0.2% |
| Amounts payable after more than one year | 17 | €26,848 | €23,194 | -€3,654 | -13.6% |
| Financial debts | 170/4 | €26,848 | €23,194 | -€3,654 | -13.6% |
| Amounts payable within one year | 42/48 | €19,905 | €23,478 | +€3,573 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €16,557 | €18,858 | +€2,300 | +13.9% |
| Financial debts | 43 | - | €1,854 | +€1,854 | |
| Credit institutions | 430/8 | - | €1,854 | +€1,854 | |
| Trade debts | 44 | €1,890 | €1,309 | -€581 | -30.8% |
| Suppliers | 440/4 | €1,890 | €1,309 | -€581 | -30.8% |
| Taxes, remuneration and social security | 45 | €1,457 | €1,457 | = | 0.0% |
| Taxes | 450/3 | €1,457 | €1,457 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,163 | €18,966 | +€4,803 | +33.9% |
| Other operating charges | 640/8 | €774 | €799 | +€25 | +3.2% |
| Gross operating margin | 9900 | €44,867 | €47,361 | +€2,494 | +5.6% |
| Operating profit (loss) | 9901 | €29,930 | €27,596 | -€2,334 | -7.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €1,911 | €2,078 | +€166 | +8.7% |
| Recurring financial charges | 65 | €1,911 | €2,078 | +€166 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €28,019 | €25,518 | -€2,501 | -8.9% |
| Income taxes | 67/77 | €6,257 | €5,590 | -€667 | -10.7% |
| Profit (loss) for the period | 9904 | €21,761 | €19,928 | -€1,833 | -8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,761 | €19,928 | -€1,833 | -8.4% |
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 12 October 2026 via checked.be.