stek92: 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.
What changed
stek92
NACE 68.202, Real estate activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.5m
2024 · -€1.2m-€322,762
Equity
€58.1m
2024 · €58.8m-€647,418
Cash
€18.9m
2024 · €25.1m-€6.2m
Balance sheet total
€228.3m
2024 · €230.4m-€2.2m
Largest movements
Assets
- Cash -€6.2m
down €6.2m (-24.7%), from €25.1m to €18.9m
mainly Investment in fixed assets (net) (-€8.9m) and Debts after one year (-€1.7m)
- Tangible fixed assets +€3.3m
up €3.3m (+1.7%), from €192.0m to €195.3m
of which Assets under construction and advance payments: +€6.9m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Services and other goods -€957,433
down €957,433 (-13.7%), from €7.0m to €6.0m
- Other operating charges +€560,798
up €560,798 (+61.5%), from €912,374 to €1.5m
- Staff costs +€398,540
up €398,540 (+8.3%), from €4.8m to €5.2m
- Financial income -€284,112
down €284,112 (-6.9%), from €4.1m to €3.8m
- Write-downs -€239,949
down €239,949 (-43.7%), from €549,104 to €309,155
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.
Result 2024
-€1.2m
Turnover
-€21,273
Other operating income
+€105,872
Goods and materials
+€4,896
Services and other goods
+€957,433
Staff costs
-€398,540
Depreciation
-€72,912
Write-downs
+€239,949
Provisions
-€60,083
Other operating charges
-€560,798
Other operating items
-€340,718
Financial income
-€284,112
Financial charges
+€110,125
Taxes
+€12
Deferred taxes and other
-€2,613
Result 2025
-€1.5m
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.
From operations
+€2.8m
Investment
-€8.9m
Financing
-€93,128
Cash 2024
€25.1m
From operations (derived)
+€2.8m
Net result for the year
-€1.5m
Depreciation
+€5.6m
Stocks and contracts
-€751,112
Receivables within one year
+€8,727
Deferred charges and accrued income
-€26,447
Provisions
-€762,021
Trade debts
+€1.0m
Tax, wage and social debts
-€284,440
Other debts
-€439,107
Accrued charges and deferred income
-€102,390
Investment (derived)
-€8.9m
Investment in fixed assets (net)
-€8.9m
Financing
-€93,128
Debts after one year
-€1.7m
Current portion of long-term debt
+€681,118
Contributions, distributions and other
+€898,950
Cash 2025
€18.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €230,434,855 | €228,254,549 | -€2.2m | -0.9% |
| Fixed assets | 21/28 | €192,078,981 | €195,317,383 | +€3.2m | +1.7% |
| Intangible fixed assets | 21 | €98,757 | €47,663 | -€51,094 | -51.7% |
| Tangible fixed assets | 22/27 | €191,976,882 | €195,266,378 | +€3.3m | +1.7% |
| Land and buildings | 22 | €174,447,047 | €170,878,345 | -€3.6m | -2.0% |
| Plant, machinery and equipment | 23 | €51,875 | €47,272 | -€4,603 | -8.9% |
| Furniture and vehicles | 24 | €166,264 | €115,172 | -€51,092 | -30.7% |
| Other tangible fixed assets | 26 | €1,159,449 | €1,159,449 | = | 0.0% |
| Assets under construction and advance payments | 27 | €16,152,248 | €23,066,141 | +€6.9m | +42.8% |
| Financial fixed assets | 28 | €3,341 | €3,341 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,341 | €3,341 | = | 0.0% |
| Shares | 284 | €1,558 | €1,558 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,783 | €1,783 | = | 0.0% |
| Current assets | 29/58 | €38,355,874 | €32,937,166 | -€5.4m | -14.1% |
| Stocks and contracts in progress | 3 | €9,062,544 | €9,813,656 | +€751,112 | +8.3% |
| Stocks | 30/36 | €9,062,544 | €9,813,656 | +€751,112 | +8.3% |
| Goods purchased for resale | 34 | €3,130 | €3,130 | = | 0.0% |
| Property held for sale | 35 | €9,059,414 | €9,810,526 | +€751,112 | +8.3% |
| Amounts receivable within one year | 40/41 | €2,327,893 | €2,319,166 | -€8,727 | -0.4% |
| Trade receivables | 40 | €1,058,675 | €887,443 | -€171,232 | -16.2% |
| Other amounts receivable | 41 | €1,269,218 | €1,431,723 | +€162,505 | +12.8% |
| Current investments | 50/53 | €446 | €446 | = | 0.0% |
| Other investments | 51/53 | €446 | €446 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €25,075,051 | €18,887,511 | -€6.2m | -24.7% |
| Deferred charges and accrued income | 490/1 | €1,889,939 | €1,916,387 | +€26,447 | +1.4% |
| Total equity and liabilities | 10/49 | €230,434,855 | €228,254,549 | -€2.2m | -0.9% |
| Equity | 10/15 | €58,766,021 | €58,118,603 | -€647,418 | -1.1% |
| Contributions | 10/11 | €40,216,621 | €40,216,621 | = | 0.0% |
| Reserves | 13 | €6,904,163 | €6,904,163 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,191,731 | €4,191,731 | = | 0.0% |
| Reserves not available under the articles | 1311 | €362,002 | €362,002 | = | 0.0% |
| Other | 1319 | €3,829,729 | €3,829,729 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,712,432 | €2,712,432 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,203,191 | -€3,749,559 | -€1.5m | -70.2% |
| Investment grants | 15 | €13,848,429 | €14,747,379 | +€898,950 | +6.5% |
| Provisions and deferred taxes | 16 | €2,109,054 | €1,347,033 | -€762,021 | -36.1% |
| Provisions for liabilities and charges | 160/5 | €1,336,949 | €528,705 | -€808,244 | -60.5% |
| Major repairs and maintenance | 162 | €1,110,300 | €302,056 | -€808,244 | -72.8% |
| Other liabilities and charges | 164/5 | €226,649 | €226,649 | = | 0.0% |
| Deferred taxes | 168 | €772,105 | €818,329 | +€46,224 | +6.0% |
| Amounts payable | 17/49 | €169,559,780 | €168,788,912 | -€770,868 | -0.5% |
| Amounts payable after more than one year | 17 | €157,005,966 | €155,332,770 | -€1.7m | -1.1% |
| Financial debts | 170/4 | €155,057,617 | €153,334,678 | -€1.7m | -1.1% |
| Credit institutions | 173 | €155,057,617 | €153,334,678 | -€1.7m | -1.1% |
| Other amounts payable | 178/9 | €1,948,350 | €1,998,093 | +€49,743 | +2.6% |
| Amounts payable within one year | 42/48 | €10,898,804 | €11,903,523 | +€1.0m | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €5,849,626 | €6,530,745 | +€681,118 | +11.6% |
| Trade debts | 44 | €1,919,164 | €2,966,310 | +€1.0m | +54.6% |
| Suppliers | 440/4 | €1,919,164 | €2,966,310 | +€1.0m | +54.6% |
| Taxes, remuneration and social security | 45 | €1,790,593 | €1,506,153 | -€284,440 | -15.9% |
| Taxes | 450/3 | €1,281,862 | €999,539 | -€282,323 | -22.0% |
| Remuneration and social security | 454/9 | €508,731 | €506,614 | -€2,117 | -0.4% |
| Other amounts payable | 47/48 | €1,339,422 | €900,315 | -€439,107 | -32.8% |
| Accrued charges and deferred income | 492/3 | €1,655,009 | €1,552,619 | -€102,390 | -6.2% |
| Operating income | 70/76A | €16,438,908 | €16,416,262 | -€22,646 | -0.1% |
| Turnover | 70 | €14,586,153 | €14,564,880 | -€21,273 | -0.1% |
| Own construction capitalised | 72 | €106,291 | €125,891 | +€19,600 | +18.4% |
| Other operating income | 74 | €1,432,363 | €1,538,235 | +€105,872 | +7.4% |
| Non-recurring operating income | 76A | €314,101 | €187,256 | -€126,845 | -40.4% |
| Operating charges | 60/66A | €18,015,745 | €18,139,274 | +€123,529 | +0.7% |
| Goods for resale, raw materials and consumables | 60 | €24,212 | €19,316 | -€4,896 | -20.2% |
| Purchases | 600/8 | €1,270,710 | €770,428 | -€500,282 | -39.4% |
| Change in stocks: decrease (increase) | 609 | -€1,246,498 | -€751,112 | +€495,386 | +39.7% |
| Services and other goods | 61 | €6,973,553 | €6,016,120 | -€957,433 | -13.7% |
| Remuneration, social security and pensions | 62 | €4,808,782 | €5,207,321 | +€398,540 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,543,607 | €5,616,518 | +€72,912 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €549,104 | €309,155 | -€239,949 | -43.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€868,327 | -€808,244 | +€60,083 | +6.9% |
| Other operating charges | 640/8 | €912,374 | €1,473,172 | +€560,798 | +61.5% |
| Non-recurring operating charges | 66A | €72,442 | €305,915 | +€233,473 | +322.3% |
| Operating profit (loss) | 9901 | -€1,576,837 | -€1,723,012 | -€146,175 | -9.3% |
| Financial income | 75/76B | €4,133,357 | €3,849,245 | -€284,112 | -6.9% |
| Recurring financial income | 75 | €4,133,357 | €3,849,245 | -€284,112 | -6.9% |
| Income from current assets | 751 | €657,571 | €283,817 | -€373,754 | -56.8% |
| Other financial income | 752/9 | €3,475,786 | €3,565,428 | +€89,642 | +2.6% |
| Financial charges | 65/66B | €3,821,219 | €3,711,094 | -€110,125 | -2.9% |
| Recurring financial charges | 65 | €3,821,219 | €3,711,094 | -€110,125 | -2.9% |
| Debt charges | 650 | €3,815,562 | €3,705,230 | -€110,332 | -2.9% |
| Other financial charges | 652/9 | €5,657 | €5,864 | +€207 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,264,700 | -€1,584,861 | -€320,161 | -25.3% |
| Transfer from deferred taxes | 780 | €41,507 | €38,894 | -€2,613 | -6.3% |
| Income taxes | 67/77 | €412 | €400 | -€12 | -3.0% |
| Taxes | 670/3 | €421 | €400 | -€21 | -5.1% |
| Tax adjustments and reversals of tax provisions | 77 | €9 | - | -€9 | |
| Profit (loss) for the period | 9904 | -€1,223,605 | -€1,546,368 | -€322,762 | -26.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,223,605 | -€1,546,368 | -€322,762 | -26.4% |
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 10 October 2026 via checked.be.