STEIN ECHELPOELS: 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.
STEIN ECHELPOELS
Largest movements
- Cash -€130,189
down €130,189 (-76.3%), from €170,727 to €40,539
mainly Tax, wage and social debts (-€79,851) and Debts after one year (-€67,697)
- Intangible fixed assets -€67,500
down €67,500 (-11.2%), from €602,693 to €535,193
- Tangible fixed assets -€27,186
down €27,186 (-10.8%), from €251,845 to €224,658
of which Land and buildings: -€15,232
- Tax, wage and social debts -€79,851
down €79,851 (-54.5%), from €146,527 to €66,676
of which Taxes: -€84,345
- Debts after one year -€67,697
down €67,697 (-11.9%), from €569,458 to €501,761
- Reserves -€55,982
down €55,982 (-21.2%), from €263,592 to €207,610
- Profit (loss) carried forward -€51,241
down €51,241 (-1,625%), from -€3,154 to -€54,394
- Trade debts +€22,352
up €22,352 (+82.7%), from €27,039 to €49,391
- Staff costs +€30,982
up €30,982 (+8.3%), from €371,461 to €402,444
- Gross operating margin +€23,625
up €23,625 (+5.2%), from €456,574 to €480,199
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 | €1,099,577 | €868,506 | -€231,072 | -21.0% |
| Fixed assets | 21/28 | €854,537 | €760,922 | -€93,615 | -11.0% |
| Intangible fixed assets | 21 | €602,693 | €535,193 | -€67,500 | -11.2% |
| Tangible fixed assets | 22/27 | €251,845 | €224,658 | -€27,186 | -10.8% |
| Land and buildings | 22 | €141,813 | €126,582 | -€15,232 | -10.7% |
| Plant, machinery and equipment | 23 | €15,430 | €13,049 | -€2,380 | -15.4% |
| Furniture and vehicles | 24 | €46,140 | €31,604 | -€14,536 | -31.5% |
| Other tangible fixed assets | 26 | €48,462 | €53,423 | +€4,962 | +10.2% |
| Financial fixed assets | 28 | - | €1,071 | +€1,071 | |
| Current assets | 29/58 | €245,040 | €107,584 | -€137,457 | -56.1% |
| Amounts receivable within one year | 40/41 | €10,901 | €323 | -€10,578 | -97.0% |
| Other amounts receivable | 41 | €10,901 | €323 | -€10,578 | -97.0% |
| Cash at bank and in hand | 54/58 | €170,727 | €40,539 | -€130,189 | -76.3% |
| Deferred charges and accrued income | 490/1 | €63,412 | €66,722 | +€3,310 | +5.2% |
| Total equity and liabilities | 10/49 | €1,099,577 | €868,506 | -€231,072 | -21.0% |
| Equity | 10/15 | €266,639 | €159,416 | -€107,223 | -40.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €263,592 | €207,610 | -€55,982 | -21.2% |
| Distributable reserves | 133 | €263,592 | €207,610 | -€55,982 | -21.2% |
| Profit (loss) carried forward | 14 | -€3,154 | -€54,394 | -€51,241 | -1,625% |
| Amounts payable | 17/49 | €832,939 | €709,090 | -€123,849 | -14.9% |
| Amounts payable after more than one year | 17 | €569,458 | €501,761 | -€67,697 | -11.9% |
| Financial debts | 170/4 | €569,458 | €501,761 | -€67,697 | -11.9% |
| Amounts payable within one year | 42/48 | €262,953 | €207,329 | -€55,623 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €70,603 | €67,697 | -€2,905 | -4.1% |
| Trade debts | 44 | €27,039 | €49,391 | +€22,352 | +82.7% |
| Suppliers | 440/4 | €27,039 | €49,391 | +€22,352 | +82.7% |
| Taxes, remuneration and social security | 45 | €146,527 | €66,676 | -€79,851 | -54.5% |
| Taxes | 450/3 | €87,144 | €2,799 | -€84,345 | -96.8% |
| Remuneration and social security | 454/9 | €59,383 | €63,877 | +€4,494 | +7.6% |
| Other amounts payable | 47/48 | €18,784 | €23,566 | +€4,781 | +25.5% |
| Accrued charges and deferred income | 492/3 | €528 | - | -€528 | |
| Remuneration, social security and pensions | 62 | €371,461 | €402,444 | +€30,982 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,459 | €107,133 | -€326 | -0.3% |
| Other operating charges | 640/8 | €1,854 | €4,201 | +€2,347 | +127% |
| Gross operating margin | 9900 | €456,574 | €480,199 | +€23,625 | +5.2% |
| Operating profit (loss) | 9901 | -€24,200 | -€33,579 | -€9,379 | -38.8% |
| Financial income | 75/76B | €1,771 | €379 | -€1,392 | -78.6% |
| Recurring financial income | 75 | €1,771 | €379 | -€1,392 | -78.6% |
| Financial charges | 65/66B | €18,390 | €16,863 | -€1,528 | -8.3% |
| Recurring financial charges | 65 | €18,390 | €16,863 | -€1,528 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | -€40,820 | -€50,063 | -€9,244 | -22.6% |
| Income taxes | 67/77 | €3,474 | €1,177 | -€2,296 | -66.1% |
| Profit (loss) for the period | 9904 | -€44,293 | -€51,241 | -€6,947 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,293 | -€51,241 | -€6,947 | -15.7% |
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 31 October 2026 via checked.be.