STEGRA: 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.
STEGRA
Largest movements
- Deferred charges and accrued income +€235,042
up €235,042 (+15,639%), from €1,503 to €236,545
- Tangible fixed assets +€40,585
up €40,585 (+8.4%), from €480,359 to €520,944
of which Land and buildings: +€41,314
- Receivables within one year +€32,111
up €32,111 (+234%), from €13,693 to €45,804
of which Trade receivables: +€38,870
- Cash -€18,677
down €18,677 (-3.4%), from €546,985 to €528,309
mainly Deferred charges and accrued income (-€235,042) and Investment in fixed assets (net) (-€91,885)
- Reserves +€107,223
up €107,223 (+23.8%), from €451,015 to €558,237
- Other debts +€86,990
up €86,990 (+33.8%), from €257,531 to €344,521
- Debts after one year +€80,000
up €80,000 (+59.3%), from €135,000 to €215,000
- Trade debts +€15,307
up €15,307 (+8.6%), from €177,933 to €193,240
- Financial charges +€43,354
up €43,354 (+39.9%), from €108,573 to €151,927
- Gross operating margin +€12,864
up €12,864 (+3.8%), from €342,284 to €355,148
- Depreciation -€7,141
down €7,141 (-12.2%), from €58,442 to €51,300
- Taxes -€5,732
down €5,732 (-11.2%), from €51,219 to €45,487
- Financial income +€4,722
up €4,722 (+3,073%), from €154 to €4,876
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,042,541 | €1,331,601 | +€289,061 | +27.7% |
| Fixed assets | 21/28 | €480,359 | €520,944 | +€40,585 | +8.4% |
| Tangible fixed assets | 22/27 | €480,359 | €520,944 | +€40,585 | +8.4% |
| Land and buildings | 22 | €467,410 | €508,725 | +€41,314 | +8.8% |
| Plant, machinery and equipment | 23 | €839 | €1,845 | +€1,006 | +120% |
| Furniture and vehicles | 24 | €6,504 | €5,759 | -€745 | -11.5% |
| Other tangible fixed assets | 26 | €5,606 | €4,616 | -€990 | -17.7% |
| Current assets | 29/58 | €562,181 | €810,657 | +€248,476 | +44.2% |
| Amounts receivable within one year | 40/41 | €13,693 | €45,804 | +€32,111 | +234% |
| Trade receivables | 40 | €3,630 | €42,500 | +€38,870 | +1,071% |
| Other amounts receivable | 41 | €10,063 | €3,304 | -€6,759 | -67.2% |
| Cash at bank and in hand | 54/58 | €546,985 | €528,309 | -€18,677 | -3.4% |
| Deferred charges and accrued income | 490/1 | €1,503 | €236,545 | +€235,042 | +15,639% |
| Total equity and liabilities | 10/49 | €1,042,541 | €1,331,601 | +€289,061 | +27.7% |
| Equity | 10/15 | €463,415 | €570,637 | +€107,223 | +23.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €451,015 | €558,237 | +€107,223 | +23.8% |
| Distributable reserves | 133 | €451,015 | €558,237 | +€107,223 | +23.8% |
| Amounts payable | 17/49 | €579,126 | €760,964 | +€181,838 | +31.4% |
| Amounts payable after more than one year | 17 | €135,000 | €215,000 | +€80,000 | +59.3% |
| Financial debts | 170/4 | €135,000 | €215,000 | +€80,000 | +59.3% |
| Amounts payable within one year | 42/48 | €442,444 | €545,964 | +€103,520 | +23.4% |
| Trade debts | 44 | €177,933 | €193,240 | +€15,307 | +8.6% |
| Suppliers | 440/4 | €177,933 | €193,240 | +€15,307 | +8.6% |
| Taxes, remuneration and social security | 45 | €6,980 | €8,203 | +€1,223 | +17.5% |
| Taxes | 450/3 | €6,980 | €8,203 | +€1,223 | +17.5% |
| Other amounts payable | 47/48 | €257,531 | €344,521 | +€86,990 | +33.8% |
| Accrued charges and deferred income | 492/3 | €1,682 | €0 | -€1,682 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,442 | €51,300 | -€7,141 | -12.2% |
| Other operating charges | 640/8 | €3,743 | €4,087 | +€344 | +9.2% |
| Gross operating margin | 9900 | €342,284 | €355,148 | +€12,864 | +3.8% |
| Operating profit (loss) | 9901 | €280,099 | €299,761 | +€19,662 | +7.0% |
| Financial income | 75/76B | €154 | €4,876 | +€4,722 | +3,073% |
| Recurring financial income | 75 | €154 | €4,876 | +€4,722 | +3,073% |
| Financial charges | 65/66B | €108,573 | €151,927 | +€43,354 | +39.9% |
| Recurring financial charges | 65 | €108,573 | €151,927 | +€43,354 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €171,680 | €152,710 | -€18,970 | -11.0% |
| Income taxes | 67/77 | €51,219 | €45,487 | -€5,732 | -11.2% |
| Profit (loss) for the period | 9904 | €120,460 | €107,223 | -€13,238 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €120,460 | €107,223 | -€13,238 | -11.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.