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
- Receivables within one year -€20,448
down €20,448 (-83.1%), from €24,604 to €4,156
of which Other amounts receivable: -€10,424
- Cash -€19,355
down €19,355 (-71.2%), from €27,201 to €7,846
mainly Advances received (-€26,364) and Tax, wage and social debts (-€11,166)
- Stocks and contracts +€9,219
up €9,219 (+12.8%), from €72,218 to €81,436
- Tangible fixed assets -€4,600
down €4,600 (-14.2%), from €32,290 to €27,690
of which Land and buildings: -€3,271
- Advances received -€26,364
down €26,364 (-98.1%), from €26,864 to €500
- Reserves +€16,743
up €16,743 (+32.5%), from €51,532 to €68,275
- Tax, wage and social debts -€11,166
down €11,166 (-44.9%), from €24,858 to €13,692
- Trade debts -€6,899
down €6,899 (-46.2%), from €14,925 to €8,026
- Other debts -€6,359
down €6,359 (-79.2%), from €8,025 to €1,666
- Gross operating margin +€29,149
up €29,149 (+200.0%), from €14,576 to €43,725
- Other operating charges +€7,426
up €7,426 (+320.6%), from €2,316 to €9,742
- Taxes +€5,419
up €5,419 (+509.3%), from €1,064 to €6,483
- Depreciation +€1,171
up €1,171 (+18.4%), from €6,353 to €7,524
- Financial income -€715
down €715 (-40.0%), from €1,785 to €1,070
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 | €157,003 | €121,128 | -€35,875 | -22.9% |
| Fixed assets | 21/28 | €32,290 | €27,690 | -€4,600 | -14.2% |
| Tangible fixed assets | 22/27 | €32,290 | €27,690 | -€4,600 | -14.2% |
| Land and buildings | 22 | €6,926 | €3,655 | -€3,271 | -47.2% |
| Plant, machinery and equipment | 23 | €16,480 | €16,313 | -€168 | -1.0% |
| Furniture and vehicles | 24 | €1,583 | €1,192 | -€391 | -24.7% |
| Other tangible fixed assets | 26 | €7,301 | €6,530 | -€771 | -10.6% |
| Current assets | 29/58 | €124,713 | €93,438 | -€31,275 | -25.1% |
| Stocks and contracts in progress | 3 | €72,218 | €81,436 | +€9,219 | +12.8% |
| Stocks | 30/36 | €72,218 | €81,436 | +€9,219 | +12.8% |
| Amounts receivable within one year | 40/41 | €24,604 | €4,156 | -€20,448 | -83.1% |
| Trade receivables | 40 | €12,718 | €2,694 | -€10,024 | -78.8% |
| Other amounts receivable | 41 | €11,885 | €1,462 | -€10,424 | -87.7% |
| Cash at bank and in hand | 54/58 | €27,201 | €7,846 | -€19,355 | -71.2% |
| Deferred charges and accrued income | 490/1 | €691 | €0 | -€691 | -100.0% |
| Total equity and liabilities | 10/49 | €157,003 | €121,128 | -€35,875 | -22.9% |
| Equity | 10/15 | €61,854 | €77,827 | +€15,973 | +25.8% |
| Contributions | 10/11 | €6,233 | €6,233 | = | 0.0% |
| Reserves | 13 | €51,532 | €68,275 | +€16,743 | +32.5% |
| Distributable reserves | 133 | €51,532 | €68,275 | +€16,743 | +32.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €4,089 | €3,318 | -€771 | -18.9% |
| Provisions and deferred taxes | 16 | €1,022 | €829 | -€193 | -18.9% |
| Deferred taxes | 168 | €1,022 | €829 | -€193 | -18.9% |
| Amounts payable | 17/49 | €94,127 | €42,472 | -€51,655 | -54.9% |
| Amounts payable after more than one year | 17 | €10,531 | €4,368 | -€6,163 | -58.5% |
| Financial debts | 170/4 | €10,531 | €4,368 | -€6,163 | -58.5% |
| Amounts payable within one year | 42/48 | €83,596 | €38,104 | -€45,492 | -54.4% |
| Current portion of amounts payable after more than one year | 42 | €8,924 | €11,176 | +€2,252 | +25.2% |
| Financial debts | 43 | - | €3,043 | +€3,043 | |
| Credit institutions | 430/8 | - | €3,043 | +€3,043 | |
| Trade debts | 44 | €14,925 | €8,026 | -€6,899 | -46.2% |
| Suppliers | 440/4 | €14,925 | €8,026 | -€6,899 | -46.2% |
| Advances received on contracts in progress | 46 | €26,864 | €500 | -€26,364 | -98.1% |
| Taxes, remuneration and social security | 45 | €24,858 | €13,692 | -€11,166 | -44.9% |
| Taxes | 450/3 | €24,858 | €13,692 | -€11,166 | -44.9% |
| Other amounts payable | 47/48 | €8,025 | €1,666 | -€6,359 | -79.2% |
| Remuneration, social security and pensions | 62 | €622 | €0 | -€622 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,353 | €7,524 | +€1,171 | +18.4% |
| Other operating charges | 640/8 | €2,316 | €9,742 | +€7,426 | +320.6% |
| Gross operating margin | 9900 | €14,576 | €43,725 | +€29,149 | +200.0% |
| Operating profit (loss) | 9901 | €5,285 | €26,459 | +€21,174 | +400.6% |
| Financial income | 75/76B | €1,785 | €1,070 | -€715 | -40.0% |
| Recurring financial income | 75 | €1,785 | €1,070 | -€715 | -40.0% |
| Financial charges | 65/66B | €2,934 | €2,830 | -€104 | -3.5% |
| Recurring financial charges | 65 | €2,934 | €2,830 | -€104 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €4,136 | €24,699 | +€20,563 | +497.1% |
| Transfer from deferred taxes | 780 | €57 | €193 | +€136 | +237.9% |
| Income taxes | 67/77 | €1,064 | €6,483 | +€5,419 | +509.3% |
| Profit (loss) for the period | 9904 | €3,129 | €18,409 | +€15,280 | +488.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,129 | €18,409 | +€15,280 | +488.3% |
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.