STEINN: what changed
Two fiscal 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.
STEINN
Largest movements
- Tangible fixed assets -€218,079
down €218,079 (-21.5%), from €1.0m to €796,401
of which Land and buildings: -€170,844
- Cash +€60,772
up €60,772 (+97.6%), from €62,298 to €123,070
mainly Net result for the year (+€285,895) and Contributions, distributions and other (+€267,335)
- Receivables within one year +€23,796
up €23,796 (+23.2%), from €102,511 to €126,307
of which Other amounts receivable: +€23,325
- Other debts -€450,950
no longer reported in 2025 (was €450,950)
- Profit (loss) carried forward +€285,895
up €285,895 (+244.7%), from €116,813 to €402,708
- Reserves +€267,335
up €267,335 (+3626.3%), from €7,372 to €274,707
of which Tax-exempt reserves: +€267,335
- Debts after one year -€127,101
down €127,101 (-34.3%), from €370,436 to €243,335
of which Financial debts: -€75,388
- Tax, wage and social debts -€106,441
down €106,441 (-85.8%), from €124,027 to €17,586
of which Taxes: -€100,957
- Gross operating margin +€130,022
up €130,022 (+12.6%), from €1.0m to €1.2m
- Staff costs +€24,844
up €24,844 (+15.1%), from €164,730 to €189,574
- Taxes +€15,370
up €15,370 (+9.6%), from €160,863 to €176,233
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 | €1,188,015 | €1,057,411 | -€130,605 | -11.0% |
| Fixed assets | 21/28 | €1,014,480 | €796,401 | -€218,079 | -21.5% |
| Tangible fixed assets | 22/27 | €1,014,480 | €796,401 | -€218,079 | -21.5% |
| Land and buildings | 22 | €801,343 | €630,499 | -€170,844 | -21.3% |
| Plant, machinery and equipment | 23 | €65,845 | €58,263 | -€7,582 | -11.5% |
| Furniture and vehicles | 24 | €147,291 | €107,638 | -€39,653 | -26.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €173,536 | €261,010 | +€87,474 | +50.4% |
| Amounts receivable within one year | 40/41 | €102,511 | €126,307 | +€23,796 | +23.2% |
| Trade receivables | 40 | €2,511 | €2,982 | +€471 | +18.7% |
| Other amounts receivable | 41 | €100,000 | €123,325 | +€23,325 | +23.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €62,298 | €123,070 | +€60,772 | +97.6% |
| Deferred charges and accrued income | 490/1 | €8,727 | €11,633 | +€2,906 | +33.3% |
| Total equity and liabilities | 10/49 | €1,188,015 | €1,057,411 | -€130,605 | -11.0% |
| Equity | 10/15 | €142,785 | €696,016 | +€553,230 | +387.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,372 | €274,707 | +€267,335 | +3626.3% |
| Tax-exempt reserves | 132 | €512 | €267,847 | +€267,335 | +52196.5% |
| Distributable reserves | 133 | €6,860 | €6,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,813 | €402,708 | +€285,895 | +244.7% |
| Amounts payable | 17/49 | €1,045,230 | €361,395 | -€683,835 | -65.4% |
| Amounts payable after more than one year | 17 | €370,436 | €243,335 | -€127,101 | -34.3% |
| Financial debts | 170/4 | €318,723 | €243,335 | -€75,388 | -23.7% |
| Trade debts | 175 | €51,713 | - | -€51,713 | |
| Amounts payable within one year | 42/48 | €669,925 | €118,034 | -€551,890 | -82.4% |
| Current portion of amounts payable after more than one year | 42 | €76,483 | €75,388 | -€1,096 | -1.4% |
| Trade debts | 44 | €18,464 | €25,061 | +€6,597 | +35.7% |
| Suppliers | 440/4 | €18,464 | €25,061 | +€6,597 | +35.7% |
| Taxes, remuneration and social security | 45 | €124,027 | €17,586 | -€106,441 | -85.8% |
| Taxes | 450/3 | €101,353 | €396 | -€100,957 | -99.6% |
| Remuneration and social security | 454/9 | €22,674 | €17,190 | -€5,484 | -24.2% |
| Other amounts payable | 47/48 | €450,950 | - | -€450,950 | |
| Accrued charges and deferred income | 492/3 | €4,870 | €26 | -€4,844 | -99.5% |
| Non-recurring operating income | 76A | €4,225 | - | -€4,225 | |
| Remuneration, social security and pensions | 62 | €164,730 | €189,574 | +€24,844 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227,173 | €219,472 | -€7,701 | -3.4% |
| Other operating charges | 640/8 | €7,185 | €9,513 | +€2,328 | +32.4% |
| Gross operating margin | 9900 | €1,032,594 | €1,162,616 | +€130,022 | +12.6% |
| Operating profit (loss) | 9901 | €633,506 | €744,057 | +€110,551 | +17.5% |
| Financial income | 75/76B | €10 | €1,214 | +€1,204 | +12027.3% |
| Recurring financial income | 75 | €10 | €1,214 | +€1,204 | +12027.3% |
| Financial charges | 65/66B | €5,840 | €15,807 | +€9,967 | +170.7% |
| Recurring financial charges | 65 | €5,840 | €15,807 | +€9,967 | +170.7% |
| Profit (loss) for the period before taxes | 9903 | €627,676 | €729,464 | +€101,788 | +16.2% |
| Transfer to deferred taxes | 680 | - | €267,335 | +€267,335 | |
| Income taxes | 67/77 | €160,863 | €176,233 | +€15,370 | +9.6% |
| Profit (loss) for the period | 9904 | €466,813 | €285,895 | -€180,918 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €466,813 | €285,895 | -€180,918 | -38.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.