STEFTRANS: 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.
STEFTRANS
Largest movements
- Tangible fixed assets +€111,878
up €111,878 (+18.7%), from €599,112 to €710,990
of which Land and buildings: +€111,746
- Receivables within one year -€41,760
down €41,760 (-3.7%), from €1.1m to €1.1m
of which Other amounts receivable: -€101,675
- Reserves +€362,149
up €362,149 (+111.0%), from €326,221 to €688,370
of which Distributable reserves: +€362,149
- Profit (loss) carried forward -€322,338
down €322,338 (-100.0%), from €322,338 to €0
- Trade debts -€83,099
down €83,099 (-35.6%), from €233,551 to €150,452
- Debts after one year +€52,912
up €52,912 (+17.9%), from €295,676 to €348,587
- Tax, wage and social debts +€26,386
up €26,386 (+15.9%), from €165,769 to €192,154
of which Taxes: +€52,679
- Staff costs -€46,593
down €46,593 (-3.3%), from €1.4m to €1.4m
- Gross operating margin +€37,020
up €37,020 (+2.1%), from €1.8m to €1.8m
- Depreciation +€21,614
up €21,614 (+14.0%), from €154,514 to €176,129
- Taxes +€20,141
up €20,141 (+60.1%), from €33,538 to €53,679
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 | €1,809,109 | €1,869,021 | +€59,912 | +3.3% |
| Fixed assets | 21/28 | €609,262 | €721,275 | +€112,013 | +18.4% |
| Tangible fixed assets | 22/27 | €599,112 | €710,990 | +€111,878 | +18.7% |
| Land and buildings | 22 | €117,843 | €229,590 | +€111,746 | +94.8% |
| Plant, machinery and equipment | 23 | €36,389 | €528 | -€35,861 | -98.5% |
| Furniture and vehicles | 24 | €86,097 | €110,896 | +€24,799 | +28.8% |
| Leasing and similar rights | 25 | €358,783 | €369,976 | +€11,194 | +3.1% |
| Financial fixed assets | 28 | €10,150 | €10,285 | +€135 | +1.3% |
| Current assets | 29/58 | €1,199,846 | €1,147,745 | -€52,101 | -4.3% |
| Amounts receivable within one year | 40/41 | €1,140,923 | €1,099,163 | -€41,760 | -3.7% |
| Trade receivables | 40 | €730,181 | €790,096 | +€59,915 | +8.2% |
| Other amounts receivable | 41 | €410,742 | €309,067 | -€101,675 | -24.8% |
| Cash at bank and in hand | 54/58 | €58,923 | €48,582 | -€10,341 | -17.5% |
| Total equity and liabilities | 10/49 | €1,809,109 | €1,869,021 | +€59,912 | +3.3% |
| Equity | 10/15 | €667,159 | €706,970 | +€39,811 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €326,221 | €688,370 | +€362,149 | +111.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €326,221 | €688,370 | +€362,149 | +111.0% |
| Profit (loss) carried forward | 14 | €322,338 | €0 | -€322,338 | -100.0% |
| Amounts payable | 17/49 | €1,141,949 | €1,162,050 | +€20,101 | +1.8% |
| Amounts payable after more than one year | 17 | €295,676 | €348,587 | +€52,912 | +17.9% |
| Financial debts | 170/4 | €295,676 | €348,587 | +€52,912 | +17.9% |
| Amounts payable within one year | 42/48 | €846,274 | €813,463 | -€32,811 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €171,954 | €195,857 | +€23,903 | +13.9% |
| Financial debts | 43 | €275,000 | €275,000 | = | 0.0% |
| Credit institutions | 430/8 | €275,000 | €275,000 | = | 0.0% |
| Trade debts | 44 | €233,551 | €150,452 | -€83,099 | -35.6% |
| Suppliers | 440/4 | €233,551 | €150,452 | -€83,099 | -35.6% |
| Taxes, remuneration and social security | 45 | €165,769 | €192,154 | +€26,386 | +15.9% |
| Taxes | 450/3 | €16,525 | €69,204 | +€52,679 | +318.8% |
| Remuneration and social security | 454/9 | €149,243 | €122,950 | -€26,293 | -17.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,500 | €8,769 | -€3,731 | -29.8% |
| Remuneration, social security and pensions | 62 | €1,403,585 | €1,356,992 | -€46,593 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,514 | €176,129 | +€21,614 | +14.0% |
| Other operating charges | 640/8 | €23,229 | €23,191 | -€38 | -0.2% |
| Non-recurring operating charges | 66A | €11,347 | €0 | -€11,347 | -100.0% |
| Gross operating margin | 9900 | €1,762,941 | €1,799,961 | +€37,020 | +2.1% |
| Operating profit (loss) | 9901 | €170,266 | €243,649 | +€73,383 | +43.1% |
| Financial income | 75/76B | €21 | €8 | -€13 | -61.2% |
| Recurring financial income | 75 | €21 | €8 | -€13 | -61.2% |
| Financial charges | 65/66B | €63,613 | €50,167 | -€13,445 | -21.1% |
| Recurring financial charges | 65 | €63,613 | €50,167 | -€13,445 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €106,674 | €193,490 | +€86,816 | +81.4% |
| Income taxes | 67/77 | €33,538 | €53,679 | +€20,141 | +60.1% |
| Profit (loss) for the period | 9904 | €73,136 | €139,811 | +€66,675 | +91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €73,136 | €139,811 | +€66,675 | +91.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.