STEFONSONS: 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.
STEFONSONS
Largest movements
- Tangible fixed assets -€16,869
down €16,869 (-9.5%), from €176,952 to €160,083
of which Land and buildings: -€18,779
- Profit (loss) carried forward -€27,283
new in 2025: -€27,283
- Short-term financial debts +€15,470
up €15,470 (+12.1%), from €128,347 to €143,817
- Reserves -€2,523
down €2,523 (-100.0%), from €2,523 to €0
- Other debts -€2,364
down €2,364 (-9.1%), from €26,000 to €23,636
- Gross operating margin +€4,568
up €4,568 (+46.2%), from -€9,888 to -€5,320
- Financial charges +€193
up €193 (+4.6%), from €4,152 to €4,345
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 | €177,662 | €160,622 | -€17,039 | -9.6% |
| Fixed assets | 21/28 | €176,972 | €160,103 | -€16,869 | -9.5% |
| Tangible fixed assets | 22/27 | €176,952 | €160,083 | -€16,869 | -9.5% |
| Land and buildings | 22 | €138,683 | €119,905 | -€18,779 | -13.5% |
| Plant, machinery and equipment | 23 | €367 | €94 | -€273 | -74.4% |
| Assets under construction and advance payments | 27 | €37,902 | €40,084 | +€2,182 | +5.8% |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €690 | €520 | -€170 | -24.7% |
| Amounts receivable within one year | 40/41 | €76 | €486 | +€410 | +539.5% |
| Trade receivables | 40 | €76 | €0 | -€76 | -100.0% |
| Other amounts receivable | 41 | €0 | €486 | +€486 | |
| Cash at bank and in hand | 54/58 | €614 | €34 | -€580 | -94.4% |
| Total equity and liabilities | 10/49 | €177,662 | €160,622 | -€17,039 | -9.6% |
| Equity | 10/15 | €22,523 | -€7,283 | -€29,806 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,523 | €0 | -€2,523 | -100.0% |
| Distributable reserves | 133 | €2,523 | €0 | -€2,523 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€27,283 | -€27,283 | |
| Amounts payable | 17/49 | €155,139 | €167,906 | +€12,767 | +8.2% |
| Amounts payable within one year | 42/48 | €155,139 | €167,906 | +€12,767 | +8.2% |
| Financial debts | 43 | €128,347 | €143,817 | +€15,470 | +12.1% |
| Other loans | 439 | €128,347 | €143,817 | +€15,470 | +12.1% |
| Trade debts | 44 | €751 | €452 | -€299 | -39.8% |
| Suppliers | 440/4 | €751 | €452 | -€299 | -39.8% |
| Taxes, remuneration and social security | 45 | €41 | €0 | -€41 | -100.0% |
| Taxes | 450/3 | €41 | €0 | -€41 | -100.0% |
| Other amounts payable | 47/48 | €26,000 | €23,636 | -€2,364 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,130 | €19,052 | -€78 | -0.4% |
| Other operating charges | 640/8 | €1,050 | €1,090 | +€39 | +3.8% |
| Gross operating margin | 9900 | -€9,888 | -€5,320 | +€4,568 | +46.2% |
| Operating profit (loss) | 9901 | -€30,068 | -€25,461 | +€4,607 | +15.3% |
| Financial income | 75/76B | €17 | €0 | -€17 | -100.0% |
| Recurring financial income | 75 | €17 | €0 | -€17 | -100.0% |
| Financial charges | 65/66B | €4,152 | €4,345 | +€193 | +4.6% |
| Recurring financial charges | 65 | €4,152 | €4,345 | +€193 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | -€34,203 | -€29,806 | +€4,397 | +12.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€34,203 | -€29,806 | +€4,397 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,203 | -€29,806 | +€4,397 | +12.9% |
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.