STEFUN DEV: 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.
STEFUN DEV
Largest movements
- Receivables within one year +€18,053
new in 2025: €18,053
of which Trade receivables: +€10,560
- Cash +€6,741
up €6,741 (+10.3%), from €65,376 to €72,117
mainly Net result for the year (+€26,425) and Depreciation (+€3,927)
- Tangible fixed assets -€3,140
down €3,140 (-40.2%), from €7,809 to €4,669
- Profit (loss) carried forward +€26,425
up €26,425 (+57.8%), from €45,699 to €72,124
- Tax, wage and social debts -€2,380
down €2,380 (-10.2%), from €23,295 to €20,915
of which Remuneration and social security: -€5,593
- Trade debts -€2,213
no longer reported in 2025 (was €2,213)
- Gross operating margin -€25,932
down €25,932 (-39.9%), from €65,008 to €39,076
- Turnover -€19,204
down €19,204 (-11.6%), from €166,168 to €146,964
- Purchases and services +€6,728
up €6,728 (+6.7%), from €101,160 to €107,888
- Taxes -€5,160
down €5,160 (-38.4%), from €13,455 to €8,295
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 | €73,283 | €95,039 | +€21,756 | +29.7% |
| Fixed assets | 21/28 | €7,809 | €4,669 | -€3,140 | -40.2% |
| Tangible fixed assets | 22/27 | €7,809 | €4,669 | -€3,140 | -40.2% |
| Furniture and vehicles | 24 | €7,809 | €4,669 | -€3,140 | -40.2% |
| Current assets | 29/58 | €65,474 | €90,370 | +€24,896 | +38.0% |
| Amounts receivable within one year | 40/41 | - | €18,053 | +€18,053 | |
| Trade receivables | 40 | - | €10,560 | +€10,560 | |
| Other amounts receivable | 41 | - | €7,493 | +€7,493 | |
| Cash at bank and in hand | 54/58 | €65,376 | €72,117 | +€6,741 | +10.3% |
| Deferred charges and accrued income | 490/1 | €98 | €200 | +€102 | +104.1% |
| Total equity and liabilities | 10/49 | €73,283 | €95,039 | +€21,756 | +29.7% |
| Equity | 10/15 | €47,699 | €74,124 | +€26,425 | +55.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,699 | €72,124 | +€26,425 | +57.8% |
| Amounts payable | 17/49 | €25,584 | €20,915 | -€4,669 | -18.2% |
| Amounts payable within one year | 42/48 | €25,584 | €20,915 | -€4,669 | -18.2% |
| Trade debts | 44 | €2,213 | - | -€2,213 | |
| Suppliers | 440/4 | €2,213 | - | -€2,213 | |
| Taxes, remuneration and social security | 45 | €23,295 | €20,915 | -€2,380 | -10.2% |
| Taxes | 450/3 | €17,702 | €20,915 | +€3,213 | +18.2% |
| Remuneration and social security | 454/9 | €5,593 | - | -€5,593 | |
| Other amounts payable | 47/48 | €76 | - | -€76 | |
| Turnover | 70 | €166,168 | €146,964 | -€19,204 | -11.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €101,160 | €107,888 | +€6,728 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,359 | €3,927 | -€432 | -9.9% |
| Other operating charges | 640/8 | €1,416 | €529 | -€887 | -62.6% |
| Gross operating margin | 9900 | €65,008 | €39,076 | -€25,932 | -39.9% |
| Operating profit (loss) | 9901 | €59,233 | €34,620 | -€24,613 | -41.6% |
| Financial income | 75/76B | - | €161 | +€161 | |
| Recurring financial income | 75 | - | €161 | +€161 | |
| Financial charges | 65/66B | €79 | €61 | -€18 | -22.8% |
| Recurring financial charges | 65 | €79 | €58 | -€21 | -26.6% |
| Non-recurring financial charges | 66B | - | €3 | +€3 | |
| Profit (loss) for the period before taxes | 9903 | €59,154 | €34,720 | -€24,434 | -41.3% |
| Income taxes | 67/77 | €13,455 | €8,295 | -€5,160 | -38.4% |
| Profit (loss) for the period | 9904 | €45,699 | €26,425 | -€19,274 | -42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,699 | €26,425 | -€19,274 | -42.2% |
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 9 October 2026 via checked.be.