STEGO: 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.
STEGO
Largest movements
- Deferred charges and accrued income +€14,914
up €14,914 (+477%), from €3,125 to €18,039
- Tangible fixed assets -€11,470
down €11,470 (-44.3%), from €25,917 to €14,447
of which Furniture and vehicles: -€10,771
- Current investments -€10,744
down €10,744 (-20.3%), from €53,041 to €42,296
- Cash +€8,061
up €8,061 (+95.2%), from €8,468 to €16,529
mainly Depreciation (+€11,470) and Current investments (+€10,744)
- Receivables within one year +€3,465
up €3,465 (+11.5%), from €30,144 to €33,609
of which Trade receivables: +€9,737
- Profit (loss) carried forward +€3,966
up €3,966 (+52.1%), from -€7,614 to -€3,648
- Depreciation -€985
down €985 (-7.9%), from €12,455 to €11,470
- Gross operating margin +€190
up €190 (+1.3%), from €14,806 to €14,996
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 | €180,469 | €184,034 | +€3,565 | +2.0% |
| Fixed assets | 21/28 | €25,917 | €14,447 | -€11,470 | -44.3% |
| Tangible fixed assets | 22/27 | €25,917 | €14,447 | -€11,470 | -44.3% |
| Land and buildings | 22 | €1,287 | €588 | -€699 | -54.3% |
| Furniture and vehicles | 24 | €24,630 | €13,859 | -€10,771 | -43.7% |
| Current assets | 29/58 | €154,552 | €169,587 | +€15,035 | +9.7% |
| Stocks and contracts in progress | 3 | €59,775 | €59,114 | -€661 | -1.1% |
| Stocks | 30/36 | €59,775 | €59,114 | -€661 | -1.1% |
| Amounts receivable within one year | 40/41 | €30,144 | €33,609 | +€3,465 | +11.5% |
| Trade receivables | 40 | €9,178 | €18,915 | +€9,737 | +106% |
| Other amounts receivable | 41 | €20,966 | €14,694 | -€6,272 | -29.9% |
| Current investments | 50/53 | €53,041 | €42,296 | -€10,744 | -20.3% |
| Cash at bank and in hand | 54/58 | €8,468 | €16,529 | +€8,061 | +95.2% |
| Deferred charges and accrued income | 490/1 | €3,125 | €18,039 | +€14,914 | +477% |
| Total equity and liabilities | 10/49 | €180,469 | €184,034 | +€3,565 | +2.0% |
| Equity | 10/15 | €179,626 | €183,592 | +€3,966 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €168,640 | €168,640 | = | 0.0% |
| Distributable reserves | 133 | €168,640 | €168,640 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,614 | -€3,648 | +€3,966 | +52.1% |
| Amounts payable | 17/49 | €843 | €442 | -€401 | -47.6% |
| Amounts payable within one year | 42/48 | €843 | €442 | -€401 | -47.6% |
| Current portion of amounts payable after more than one year | 42 | €843 | €333 | -€509 | -60.4% |
| Trade debts | 44 | - | €108 | +€108 | |
| Suppliers | 440/4 | - | €108 | +€108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,455 | €11,470 | -€985 | -7.9% |
| Other operating charges | 640/8 | €235 | €305 | +€69 | +29.5% |
| Gross operating margin | 9900 | €14,806 | €14,996 | +€190 | +1.3% |
| Operating profit (loss) | 9901 | €2,116 | €3,221 | +€1,105 | +52.2% |
| Financial income | 75/76B | €900 | €917 | +€17 | +1.9% |
| Recurring financial income | 75 | €900 | €917 | +€17 | +1.9% |
| Financial charges | 65/66B | €258 | €117 | -€141 | -54.8% |
| Recurring financial charges | 65 | €258 | €117 | -€141 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €2,758 | €4,022 | +€1,264 | +45.8% |
| Income taxes | 67/77 | €55 | €56 | +€1 | +2.0% |
| Profit (loss) for the period | 9904 | €2,703 | €3,966 | +€1,263 | +46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,703 | €3,966 | +€1,263 | +46.7% |
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 14 October 2026 via checked.be.