STEIGER 3: 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.
STEIGER 3
Largest movements
- Tangible fixed assets -€84,649
down €84,649 (-25.5%), from €331,658 to €247,009
of which Other tangible fixed assets: -€47,547
- Cash -€17,068
down €17,068 (-40.9%), from €41,771 to €24,703
mainly Trade debts (-€50,215) and Debts after one year (-€50,000)
- Stocks and contracts -€5,251
down €5,251 (-28.4%), from €18,495 to €13,244
- Trade debts -€50,215
down €50,215 (-64.7%), from €77,603 to €27,387
- Debts after one year -€50,000
down €50,000 (-25.0%), from €200,000 to €150,000
- Current portion of long-term debt -€12,080
down €12,080 (-100%), from €12,080 to €0
- Profit (loss) carried forward +€4,988
up €4,988 (+5.4%), from -€91,862 to -€86,874
- Gross operating margin -€18,705
down €18,705 (-8.1%), from €231,133 to €212,428
- Depreciation -€9,316
down €9,316 (-9.3%), from €99,685 to €90,369
- Staff costs +€7,204
up €7,204 (+7.6%), from €94,426 to €101,630
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 | €419,980 | €312,134 | -€107,846 | -25.7% |
| Fixed assets | 21/28 | €334,401 | €249,152 | -€85,249 | -25.5% |
| Tangible fixed assets | 22/27 | €331,658 | €247,009 | -€84,649 | -25.5% |
| Plant, machinery and equipment | 23 | €27,569 | €16,940 | -€10,629 | -38.6% |
| Furniture and vehicles | 24 | €69,131 | €42,658 | -€26,473 | -38.3% |
| Other tangible fixed assets | 26 | €234,958 | €187,411 | -€47,547 | -20.2% |
| Financial fixed assets | 28 | €2,743 | €2,143 | -€600 | -21.9% |
| Current assets | 29/58 | €85,579 | €62,982 | -€22,597 | -26.4% |
| Stocks and contracts in progress | 3 | €18,495 | €13,244 | -€5,251 | -28.4% |
| Stocks | 30/36 | €18,495 | €13,244 | -€5,251 | -28.4% |
| Amounts receivable within one year | 40/41 | €20,084 | €16,609 | -€3,475 | -17.3% |
| Trade receivables | 40 | €19,921 | €15,382 | -€4,539 | -22.8% |
| Other amounts receivable | 41 | €163 | €1,227 | +€1,064 | +653% |
| Cash at bank and in hand | 54/58 | €41,771 | €24,703 | -€17,068 | -40.9% |
| Deferred charges and accrued income | 490/1 | €5,229 | €8,427 | +€3,197 | +61.1% |
| Total equity and liabilities | 10/49 | €419,980 | €312,134 | -€107,846 | -25.7% |
| Equity | 10/15 | -€7,696 | -€2,708 | +€4,988 | +64.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,966 | €77,966 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €59,216 | €59,216 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€91,862 | -€86,874 | +€4,988 | +5.4% |
| Amounts payable | 17/49 | €427,676 | €314,842 | -€112,834 | -26.4% |
| Amounts payable after more than one year | 17 | €200,000 | €150,000 | -€50,000 | -25.0% |
| Financial debts | 170/4 | €200,000 | €150,000 | -€50,000 | -25.0% |
| Amounts payable within one year | 42/48 | €227,388 | €164,542 | -€62,846 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €12,080 | €0 | -€12,080 | -100% |
| Trade debts | 44 | €77,603 | €27,387 | -€50,215 | -64.7% |
| Suppliers | 440/4 | €77,603 | €27,387 | -€50,215 | -64.7% |
| Taxes, remuneration and social security | 45 | €23,278 | €19,084 | -€4,193 | -18.0% |
| Taxes | 450/3 | €12,984 | €10,128 | -€2,856 | -22.0% |
| Remuneration and social security | 454/9 | €10,294 | €8,956 | -€1,337 | -13.0% |
| Other amounts payable | 47/48 | €114,428 | €118,071 | +€3,643 | +3.2% |
| Accrued charges and deferred income | 492/3 | €288 | €300 | +€11 | +4.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €94,426 | €101,630 | +€7,204 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,685 | €90,369 | -€9,316 | -9.3% |
| Other operating charges | 640/8 | €5,459 | €3,340 | -€2,120 | -38.8% |
| Non-recurring operating charges | 66A | €142 | €0 | -€142 | -100% |
| Gross operating margin | 9900 | €231,133 | €212,428 | -€18,705 | -8.1% |
| Operating profit (loss) | 9901 | €31,420 | €17,089 | -€14,331 | -45.6% |
| Financial income | 75/76B | €419 | €48 | -€371 | -88.5% |
| Recurring financial income | 75 | €419 | €48 | -€371 | -88.5% |
| Financial charges | 65/66B | €13,055 | €12,149 | -€905 | -6.9% |
| Recurring financial charges | 65 | €13,055 | €12,149 | -€905 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €18,785 | €4,988 | -€13,797 | -73.4% |
| Profit (loss) for the period | 9904 | €18,785 | €4,988 | -€13,797 | -73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,785 | €4,988 | -€13,797 | -73.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.