Stejo Construct: 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.
Stejo Construct
Largest movements
- Stocks and contracts +€616,000
up €616,000 (+82.0%), from €751,000 to €1.4m
- Receivables within one year -€477,938
down €477,938 (-85.8%), from €557,050 to €79,112
of which Other amounts receivable: -€474,842
- Cash -€94,892
down €94,892 (-30.6%), from €309,965 to €215,073
mainly Stocks and contracts (-€616,000) and Tax, wage and social debts (-€81,910)
- Tangible fixed assets -€77,735
down €77,735 (-21.3%), from €364,274 to €286,538
of which Furniture and vehicles: -€60,185
- Tax, wage and social debts -€81,910
down €81,910 (-79.0%), from €103,669 to €21,760
- Debts after one year -€59,905
down €59,905 (-17.4%), from €343,815 to €283,910
- Reserves +€54,599
up €54,599 (+6.8%), from €808,215 to €862,814
- Other debts +€26,383
up €26,383 (+940.2%), from €2,806 to €29,189
- Short-term financial debts +€23,279
up €23,279 (+4.6%), from €501,721 to €525,000
- Gross operating margin -€128,329
down €128,329 (-40.2%), from €319,001 to €190,672
- Taxes -€40,297
down €40,297 (-54.5%), from €73,921 to €33,624
- Depreciation +€11,425
up €11,425 (+16.7%), from €68,246 to €79,671
- Financial charges -€11,065
down €11,065 (-30.0%), from €36,824 to €25,760
- Other operating charges +€4,083
up €4,083 (+144.0%), from €2,836 to €6,918
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 | €2,312,539 | €2,277,723 | -€34,816 | -1.5% |
| Fixed assets | 21/28 | €364,274 | €286,538 | -€77,735 | -21.3% |
| Tangible fixed assets | 22/27 | €364,274 | €286,538 | -€77,735 | -21.3% |
| Land and buildings | 22 | €105,000 | €87,500 | -€17,500 | -16.7% |
| Plant, machinery and equipment | 23 | €51 | - | -€51 | |
| Furniture and vehicles | 24 | €259,223 | €199,038 | -€60,185 | -23.2% |
| Current assets | 29/58 | €1,948,265 | €1,991,185 | +€42,920 | +2.2% |
| Amounts receivable after more than one year | 29 | €330,000 | €330,000 | = | 0.0% |
| Other amounts receivable | 291 | €330,000 | €330,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €751,000 | €1,367,000 | +€616,000 | +82.0% |
| Contracts in progress | 37 | €751,000 | €1,367,000 | +€616,000 | +82.0% |
| Amounts receivable within one year | 40/41 | €557,050 | €79,112 | -€477,938 | -85.8% |
| Trade receivables | 40 | €13,366 | €10,270 | -€3,096 | -23.2% |
| Other amounts receivable | 41 | €543,684 | €68,842 | -€474,842 | -87.3% |
| Cash at bank and in hand | 54/58 | €309,965 | €215,073 | -€94,892 | -30.6% |
| Deferred charges and accrued income | 490/1 | €250 | - | -€250 | |
| Total equity and liabilities | 10/49 | €2,312,539 | €2,277,723 | -€34,816 | -1.5% |
| Equity | 10/15 | €1,273,860 | €1,328,459 | +€54,599 | +4.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €808,215 | €862,814 | +€54,599 | +6.8% |
| Distributable reserves | 133 | €808,215 | €862,814 | +€54,599 | +6.8% |
| Profit (loss) carried forward | 14 | €445,185 | €445,185 | = | 0.0% |
| Amounts payable | 17/49 | €1,038,679 | €949,264 | -€89,415 | -8.6% |
| Amounts payable after more than one year | 17 | €343,815 | €283,910 | -€59,905 | -17.4% |
| Financial debts | 170/4 | €343,815 | €283,910 | -€59,905 | -17.4% |
| Amounts payable within one year | 42/48 | €694,864 | €665,354 | -€29,510 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €59,194 | €59,905 | +€711 | +1.2% |
| Financial debts | 43 | €501,721 | €525,000 | +€23,279 | +4.6% |
| Credit institutions | 430/8 | €501,721 | €525,000 | +€23,279 | +4.6% |
| Trade debts | 44 | €27,474 | €29,500 | +€2,027 | +7.4% |
| Suppliers | 440/4 | €27,474 | €29,500 | +€2,027 | +7.4% |
| Taxes, remuneration and social security | 45 | €103,669 | €21,760 | -€81,910 | -79.0% |
| Taxes | 450/3 | €103,669 | €21,760 | -€81,910 | -79.0% |
| Other amounts payable | 47/48 | €2,806 | €29,189 | +€26,383 | +940.2% |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,246 | €79,671 | +€11,425 | +16.7% |
| Other operating charges | 640/8 | €2,836 | €6,918 | +€4,083 | +144.0% |
| Gross operating margin | 9900 | €319,001 | €190,672 | -€128,329 | -40.2% |
| Operating profit (loss) | 9901 | €247,919 | €104,082 | -€143,837 | -58.0% |
| Financial income | 75/76B | €7,300 | €9,900 | +€2,600 | +35.6% |
| Recurring financial income | 75 | €7,300 | €9,900 | +€2,600 | +35.6% |
| Financial charges | 65/66B | €36,824 | €25,760 | -€11,065 | -30.0% |
| Recurring financial charges | 65 | €36,824 | €25,760 | -€11,065 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €218,395 | €88,223 | -€130,172 | -59.6% |
| Income taxes | 67/77 | €73,921 | €33,624 | -€40,297 | -54.5% |
| Profit (loss) for the period | 9904 | €144,474 | €54,599 | -€89,875 | -62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €144,474 | €54,599 | -€89,875 | -62.2% |
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.