STEIL: 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.
STEIL
Largest movements
- Cash +€57,457
up €57,457 (+91.1%), from €63,079 to €120,536
mainly Net result for the year (+€30,663) and Depreciation (+€15,311)
- Tangible fixed assets -€20,278
down €20,278 (-12.3%), from €164,778 to €144,500
of which Land and buildings: -€13,292
- Receivables within one year -€8,950
down €8,950 (-21.3%), from €41,945 to €32,996
of which Trade receivables: -€5,517
- Other debts +€10,256
up €10,256 (+8258.0%), from €124 to €10,381
- Trade debts +€10,158
up €10,158 (+1449.3%), from €701 to €10,858
- Reserves +€3,163
up €3,163 (+1.3%), from €243,985 to €247,148
of which Distributable reserves: +€3,163
- Gross operating margin +€7,598
up €7,598 (+14.6%), from €51,863 to €59,461
- Financial income +€6,953
up €6,953 (+69534900.0%), from €0 to €6,954
of which Non-recurring financial income: +€6,900
- Taxes +€4,615
up €4,615 (+57.7%), from €7,994 to €12,609
- Depreciation -€1,959
down €1,959 (-11.3%), from €17,270 to €15,311
- Financial charges +€1,890
up €1,890 (+300.4%), from €629 to €2,520
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.
Cash bridge derived
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 | €276,154 | €303,135 | +€26,982 | +9.8% |
| Fixed assets | 21/28 | €164,778 | €144,500 | -€20,278 | -12.3% |
| Tangible fixed assets | 22/27 | €164,778 | €144,500 | -€20,278 | -12.3% |
| Land and buildings | 22 | €153,146 | €139,854 | -€13,292 | -8.7% |
| Furniture and vehicles | 24 | €11,632 | €4,646 | -€6,987 | -60.1% |
| Current assets | 29/58 | €111,376 | €158,636 | +€47,260 | +42.4% |
| Amounts receivable within one year | 40/41 | €41,945 | €32,996 | -€8,950 | -21.3% |
| Trade receivables | 40 | €38,055 | €32,538 | -€5,517 | -14.5% |
| Other amounts receivable | 41 | €3,891 | €458 | -€3,433 | -88.2% |
| Cash at bank and in hand | 54/58 | €63,079 | €120,536 | +€57,457 | +91.1% |
| Deferred charges and accrued income | 490/1 | €6,352 | €5,104 | -€1,248 | -19.6% |
| Total equity and liabilities | 10/49 | €276,154 | €303,135 | +€26,982 | +9.8% |
| Equity | 10/15 | €262,577 | €265,740 | +€3,163 | +1.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €243,985 | €247,148 | +€3,163 | +1.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €243,985 | €247,148 | +€3,163 | +1.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,577 | €37,396 | +€23,819 | +175.4% |
| Amounts payable within one year | 42/48 | €13,577 | €34,668 | +€21,091 | +155.3% |
| Trade debts | 44 | €701 | €10,858 | +€10,158 | +1449.3% |
| Suppliers | 440/4 | €701 | €10,858 | +€10,158 | +1449.3% |
| Taxes, remuneration and social security | 45 | €12,752 | €13,429 | +€677 | +5.3% |
| Taxes | 450/3 | €12,752 | €13,429 | +€677 | +5.3% |
| Other amounts payable | 47/48 | €124 | €10,381 | +€10,256 | +8258.0% |
| Accrued charges and deferred income | 492/3 | €0 | €2,727 | +€2,727 | |
| Non-recurring operating income | 76A | - | €224 | +€224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,270 | €15,311 | -€1,959 | -11.3% |
| Other operating charges | 640/8 | €6,951 | €5,312 | -€1,640 | -23.6% |
| Non-recurring operating charges | 66A | €328 | €0 | -€328 | -100.0% |
| Gross operating margin | 9900 | €51,863 | €59,461 | +€7,598 | +14.6% |
| Operating profit (loss) | 9901 | €27,313 | €38,838 | +€11,525 | +42.2% |
| Financial income | 75/76B | €0 | €6,954 | +€6,953 | +69534900.0% |
| Recurring financial income | 75 | €0 | €53 | +€53 | +530900.0% |
| Non-recurring financial income | 76B | - | €6,900 | +€6,900 | |
| Financial charges | 65/66B | €629 | €2,520 | +€1,890 | +300.4% |
| Recurring financial charges | 65 | €629 | €2,520 | +€1,890 | +300.4% |
| Profit (loss) for the period before taxes | 9903 | €26,684 | €43,272 | +€16,588 | +62.2% |
| Income taxes | 67/77 | €7,994 | €12,609 | +€4,615 | +57.7% |
| Profit (loss) for the period | 9904 | €18,690 | €30,663 | +€11,973 | +64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,690 | €30,663 | +€11,973 | +64.1% |
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 12 October 2026 via checked.be.