Stenin: 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.
Stenin
Largest movements
- Tangible fixed assets +€34,170
up €34,170 (+56.4%), from €60,635 to €94,805
of which Land and buildings: +€49,191
- Current investments -€30,000
no longer reported in 2025 (was €30,000)
- Cash +€14,490
up €14,490 (+49.0%), from €29,596 to €44,086
mainly Net result for the year (+€43,671) and Current investments (+€30,000)
- Profit (loss) carried forward +€42,005
up €42,005 (+48.0%), from €87,430 to €129,435
- Tax, wage and social debts -€11,705
down €11,705 (-48.0%), from €24,393 to €12,688
- Debts after one year -€10,081
down €10,081 (-36.7%), from €27,481 to €17,400
- Other debts -€3,236
down €3,236 (-21.1%), from €15,317 to €12,082
- Trade debts +€2,306
up €2,306 (+691%), from €334 to €2,640
- Gross operating margin -€12,116
down €12,116 (-13.4%), from €90,205 to €78,089
- Depreciation +€4,772
up €4,772 (+31.9%), from €14,970 to €19,742
- Taxes -€3,056
down €3,056 (-19.8%), from €15,461 to €12,404
- Other operating charges +€923
up €923 (+214%), from €431 to €1,354
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 | €171,377 | €193,219 | +€21,841 | +12.7% |
| Fixed assets | 21/28 | €60,636 | €94,806 | +€34,170 | +56.4% |
| Intangible fixed assets | 21 | €1 | €1 | -€0 | -25.0% |
| Tangible fixed assets | 22/27 | €60,635 | €94,805 | +€34,170 | +56.4% |
| Land and buildings | 22 | - | €49,191 | +€49,191 | |
| Plant, machinery and equipment | 23 | €11,728 | €9,794 | -€1,934 | -16.5% |
| Furniture and vehicles | 24 | €48,908 | €35,820 | -€13,088 | -26.8% |
| Current assets | 29/58 | €110,741 | €98,413 | -€12,328 | -11.1% |
| Amounts receivable within one year | 40/41 | €49,607 | €51,256 | +€1,650 | +3.3% |
| Trade receivables | 40 | €49,607 | €51,256 | +€1,650 | +3.3% |
| Current investments | 50/53 | €30,000 | - | -€30,000 | |
| Cash at bank and in hand | 54/58 | €29,596 | €44,086 | +€14,490 | +49.0% |
| Deferred charges and accrued income | 490/1 | €1,539 | €3,071 | +€1,532 | +99.6% |
| Total equity and liabilities | 10/49 | €171,377 | €193,219 | +€21,841 | +12.7% |
| Equity | 10/15 | €90,430 | €132,435 | +€42,005 | +46.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,430 | €129,435 | +€42,005 | +48.0% |
| Amounts payable | 17/49 | €80,948 | €60,784 | -€20,164 | -24.9% |
| Amounts payable after more than one year | 17 | €27,481 | €17,400 | -€10,081 | -36.7% |
| Financial debts | 170/4 | €27,481 | €17,400 | -€10,081 | -36.7% |
| Amounts payable within one year | 42/48 | €50,671 | €38,319 | -€12,352 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €10,627 | €10,909 | +€282 | +2.7% |
| Trade debts | 44 | €334 | €2,640 | +€2,306 | +691% |
| Suppliers | 440/4 | €334 | €2,640 | +€2,306 | +691% |
| Taxes, remuneration and social security | 45 | €24,393 | €12,688 | -€11,705 | -48.0% |
| Taxes | 450/3 | €24,393 | €12,688 | -€11,705 | -48.0% |
| Other amounts payable | 47/48 | €15,317 | €12,082 | -€3,236 | -21.1% |
| Accrued charges and deferred income | 492/3 | €2,796 | €5,065 | +€2,269 | +81.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,970 | €19,742 | +€4,772 | +31.9% |
| Other operating charges | 640/8 | €431 | €1,354 | +€923 | +214% |
| Gross operating margin | 9900 | €90,205 | €78,089 | -€12,116 | -13.4% |
| Operating profit (loss) | 9901 | €74,804 | €56,993 | -€17,812 | -23.8% |
| Financial income | 75/76B | €311 | €1,179 | +€867 | +278% |
| Recurring financial income | 75 | €311 | €1,179 | +€867 | +278% |
| Financial charges | 65/66B | €2,358 | €2,096 | -€263 | -11.1% |
| Recurring financial charges | 65 | €2,358 | €2,096 | -€263 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €72,757 | €56,076 | -€16,682 | -22.9% |
| Income taxes | 67/77 | €15,461 | €12,404 | -€3,056 | -19.8% |
| Profit (loss) for the period | 9904 | €57,297 | €43,671 | -€13,626 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,297 | €43,671 | -€13,626 | -23.8% |
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 13 October 2026 via checked.be.