Steganos: 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.
Steganos
Largest movements
- Receivables after one year -€10,000
down €10,000 (-62.5%), from €16,000 to €6,000
- Current investments +€9,793
new in 2025: €9,793
- Cash -€5,635
down €5,635 (-4.2%), from €132,715 to €127,080
mainly Contributions, distributions and other (-€28,109) and Current investments (-€9,793)
- Tangible fixed assets -€5,271
down €5,271 (-25.4%), from €20,742 to €15,471
of which Furniture and vehicles: -€6,131
- Receivables within one year -€3,520
down €3,520 (-12.6%), from €27,979 to €24,458
of which Other amounts receivable: -€5,581
- Reserves -€15,329
down €15,329 (-7.8%), from €196,045 to €180,717
of which Distributable reserves: -€15,329
- Tax, wage and social debts +€4,025
up €4,025 (+104%), from €3,871 to €7,895
- Financial charges +€52,284
up €52,284 (+15,770%), from €332 to €52,615
of which Financial charges: +€52,077
- Gross operating margin +€23,053
up €23,053 (+39.6%), from €58,242 to €81,295
- Taxes -€8,620
down €8,620 (-61.4%), from €14,034 to €5,414
- Staff costs +€1,483
up €1,483 (+145%), from €1,025 to €2,508
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.
Derived cash bridge
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 | €207,042 | €193,931 | -€13,111 | -6.3% |
| Fixed assets | 21/28 | €20,742 | €15,471 | -€5,271 | -25.4% |
| Tangible fixed assets | 22/27 | €20,742 | €15,471 | -€5,271 | -25.4% |
| Plant, machinery and equipment | 23 | €2,062 | €1,003 | -€1,060 | -51.4% |
| Furniture and vehicles | 24 | €15,946 | €9,814 | -€6,131 | -38.5% |
| Other tangible fixed assets | 26 | €2,734 | €4,654 | +€1,920 | +70.2% |
| Current assets | 29/58 | €186,301 | €178,460 | -€7,840 | -4.2% |
| Amounts receivable after more than one year | 29 | €16,000 | €6,000 | -€10,000 | -62.5% |
| Other amounts receivable | 291 | €16,000 | €6,000 | -€10,000 | -62.5% |
| Amounts receivable within one year | 40/41 | €27,979 | €24,458 | -€3,520 | -12.6% |
| Trade receivables | 40 | €13,562 | €15,622 | +€2,060 | +15.2% |
| Other amounts receivable | 41 | €14,417 | €8,836 | -€5,581 | -38.7% |
| Current investments | 50/53 | - | €9,793 | +€9,793 | |
| Cash at bank and in hand | 54/58 | €132,715 | €127,080 | -€5,635 | -4.2% |
| Deferred charges and accrued income | 490/1 | €9,607 | €11,129 | +€1,522 | +15.8% |
| Total equity and liabilities | 10/49 | €207,042 | €193,931 | -€13,111 | -6.3% |
| Equity | 10/15 | €197,045 | €181,717 | -€15,329 | -7.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €196,045 | €180,717 | -€15,329 | -7.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €196,045 | €180,717 | -€15,329 | -7.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,997 | €12,215 | +€2,217 | +22.2% |
| Amounts payable within one year | 42/48 | €9,997 | €12,215 | +€2,217 | +22.2% |
| Trade debts | 44 | €792 | €0 | -€792 | -100% |
| Suppliers | 440/4 | €792 | €0 | -€792 | -100% |
| Taxes, remuneration and social security | 45 | €3,871 | €7,895 | +€4,025 | +104% |
| Taxes | 450/3 | €3,871 | €7,895 | +€4,025 | +104% |
| Other amounts payable | 47/48 | €5,335 | €4,319 | -€1,016 | -19.0% |
| Remuneration, social security and pensions | 62 | €1,025 | €2,508 | +€1,483 | +145% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,362 | €8,287 | -€75 | -0.9% |
| Other operating charges | 640/8 | €906 | €922 | +€16 | +1.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €58,242 | €81,295 | +€23,053 | +39.6% |
| Operating profit (loss) | 9901 | €47,949 | €69,578 | +€21,629 | +45.1% |
| Financial income | 75/76B | €1,502 | €1,231 | -€271 | -18.0% |
| Recurring financial income | 75 | €1,502 | €1,231 | -€271 | -18.0% |
| Financial charges | 65/66B | €332 | €52,615 | +€52,284 | +15,770% |
| Recurring financial charges | 65 | €332 | €52,408 | +€52,077 | +15,708% |
| Non-recurring financial charges | 66B | - | €207 | +€207 | |
| Profit (loss) for the period before taxes | 9903 | €49,120 | €18,194 | -€30,925 | -63.0% |
| Income taxes | 67/77 | €14,034 | €5,414 | -€8,620 | -61.4% |
| Profit (loss) for the period | 9904 | €35,085 | €12,780 | -€22,305 | -63.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,085 | €12,780 | -€22,305 | -63.6% |
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 13 October 2026 via checked.be.