Stégil: 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.
Stégil
Largest movements
- Receivables within one year -€85,547
down €85,547 (-33.8%), from €252,883 to €167,336
of which Other amounts receivable: -€78,875
- Cash -€35,096
down €35,096 (-33.9%), from €103,481 to €68,386
mainly Contributions, distributions and other (-€267,873) and Tax, wage and social debts (-€46,190)
- Tangible fixed assets -€20,355
down €20,355 (-5.5%), from €366,756 to €346,402
- Reserves -€95,764
down €95,764 (-32.3%), from €296,169 to €200,406
of which Distributable reserves: -€95,764
- Tax, wage and social debts -€46,190
down €46,190 (-75.2%), from €61,459 to €15,269
- Debts after one year -€27,708
down €27,708 (-15.7%), from €176,101 to €148,393
- Other debts +€26,895
up €26,895 (+18.5%), from €145,214 to €172,109
- Gross operating margin +€39,216
up €39,216 (+17.8%), from €220,813 to €260,029
- Taxes +€14,501
up €14,501 (+29.1%), from €49,879 to €64,381
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 | €724,557 | €583,669 | -€140,888 | -19.4% |
| Fixed assets | 21/28 | €366,756 | €346,402 | -€20,355 | -5.5% |
| Tangible fixed assets | 22/27 | €366,756 | €346,402 | -€20,355 | -5.5% |
| Land and buildings | 22 | €309,124 | €301,011 | -€8,113 | -2.6% |
| Plant, machinery and equipment | 23 | €20,790 | €15,325 | -€5,465 | -26.3% |
| Furniture and vehicles | 24 | €36,842 | €30,066 | -€6,777 | -18.4% |
| Current assets | 29/58 | €357,801 | €237,267 | -€120,533 | -33.7% |
| Amounts receivable within one year | 40/41 | €252,883 | €167,336 | -€85,547 | -33.8% |
| Trade receivables | 40 | €47,133 | €40,461 | -€6,672 | -14.2% |
| Other amounts receivable | 41 | €205,750 | €126,874 | -€78,875 | -38.3% |
| Cash at bank and in hand | 54/58 | €103,481 | €68,386 | -€35,096 | -33.9% |
| Deferred charges and accrued income | 490/1 | €1,436 | €1,546 | +€110 | +7.6% |
| Total equity and liabilities | 10/49 | €724,557 | €583,669 | -€140,888 | -19.4% |
| Equity | 10/15 | €314,769 | €219,006 | -€95,764 | -30.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €296,169 | €200,406 | -€95,764 | -32.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €294,309 | €198,546 | -€95,764 | -32.5% |
| Amounts payable | 17/49 | €409,787 | €364,663 | -€45,124 | -11.0% |
| Amounts payable after more than one year | 17 | €176,101 | €148,393 | -€27,708 | -15.7% |
| Financial debts | 170/4 | €176,101 | €148,393 | -€27,708 | -15.7% |
| Amounts payable within one year | 42/48 | €233,687 | €216,270 | -€17,416 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €26,699 | €27,708 | +€1,009 | +3.8% |
| Trade debts | 44 | €314 | €1,184 | +€870 | +277% |
| Suppliers | 440/4 | €314 | €1,184 | +€870 | +277% |
| Taxes, remuneration and social security | 45 | €61,459 | €15,269 | -€46,190 | -75.2% |
| Taxes | 450/3 | €61,459 | €15,269 | -€46,190 | -75.2% |
| Other amounts payable | 47/48 | €145,214 | €172,109 | +€26,895 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,282 | €23,964 | +€681 | +2.9% |
| Other operating charges | 640/8 | €1,327 | €1,369 | +€42 | +3.2% |
| Gross operating margin | 9900 | €220,813 | €260,029 | +€39,216 | +17.8% |
| Operating profit (loss) | 9901 | €196,204 | €234,696 | +€38,493 | +19.6% |
| Financial income | 75/76B | €7,374 | €9,296 | +€1,921 | +26.1% |
| Recurring financial income | 75 | €7,374 | €9,296 | +€1,921 | +26.1% |
| Financial charges | 65/66B | €8,484 | €7,502 | -€982 | -11.6% |
| Recurring financial charges | 65 | €8,484 | €7,502 | -€982 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €195,093 | €236,490 | +€41,396 | +21.2% |
| Income taxes | 67/77 | €49,879 | €64,381 | +€14,501 | +29.1% |
| Profit (loss) for the period | 9904 | €145,214 | €172,109 | +€26,895 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €145,214 | €172,109 | +€26,895 | +18.5% |
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 27 October 2026 via checked.be.