STEP: 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.
STEP
Largest movements
- Tangible fixed assets -€12,539
down €12,539 (-13.7%), from €91,365 to €78,826
of which Other tangible fixed assets: -€11,765
- Cash +€12,222
up €12,222 (+11.9%), from €102,428 to €114,651
mainly Depreciation (+€12,539) and Other debts (+€1,945)
- Short-term financial debts -€5,072
no longer reported in 2025 (was €5,072)
- Gross operating margin -€10,512
down €10,512 (-34.5%), from €30,451 to €19,939
- Taxes -€1,432
down €1,432 (-32.1%), from €4,463 to €3,032
- Depreciation +€850
up €850 (+7.3%), from €11,689 to €12,539
- Financial income -€783
down €783 (-99.1%), from €790 to €7
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 | €215,484 | €215,864 | +€381 | +0.2% |
| Fixed assets | 21/28 | €91,365 | €78,826 | -€12,539 | -13.7% |
| Tangible fixed assets | 22/27 | €91,365 | €78,826 | -€12,539 | -13.7% |
| Furniture and vehicles | 24 | €1,655 | €881 | -€774 | -46.8% |
| Other tangible fixed assets | 26 | €89,710 | €77,945 | -€11,765 | -13.1% |
| Current assets | 29/58 | €124,119 | €137,039 | +€12,919 | +10.4% |
| Amounts receivable within one year | 40/41 | €21,224 | €21,633 | +€410 | +1.9% |
| Trade receivables | 40 | €8,772 | €3,142 | -€5,630 | -64.2% |
| Other amounts receivable | 41 | €12,452 | €18,492 | +€6,040 | +48.5% |
| Cash at bank and in hand | 54/58 | €102,428 | €114,651 | +€12,222 | +11.9% |
| Deferred charges and accrued income | 490/1 | €467 | €755 | +€287 | +61.5% |
| Total equity and liabilities | 10/49 | €215,484 | €215,864 | +€381 | +0.2% |
| Equity | 10/15 | €201,480 | €203,129 | +€1,649 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €182,880 | €184,529 | +€1,649 | +0.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €181,020 | €182,669 | +€1,649 | +0.9% |
| Amounts payable | 17/49 | €14,004 | €12,736 | -€1,268 | -9.1% |
| Amounts payable within one year | 42/48 | €13,104 | €11,836 | -€1,268 | -9.7% |
| Financial debts | 43 | €5,072 | - | -€5,072 | |
| Credit institutions | 430/8 | €5,072 | - | -€5,072 | |
| Trade debts | 44 | €536 | €1,404 | +€868 | +161.8% |
| Suppliers | 440/4 | €536 | €1,404 | +€868 | +161.8% |
| Taxes, remuneration and social security | 45 | €3,917 | €4,907 | +€990 | +25.3% |
| Taxes | 450/3 | - | €1,923 | +€1,923 | |
| Remuneration and social security | 454/9 | €3,917 | €2,984 | -€933 | -23.8% |
| Other amounts payable | 47/48 | €3,579 | €5,525 | +€1,945 | +54.3% |
| Accrued charges and deferred income | 492/3 | €900 | €900 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,689 | €12,539 | +€850 | +7.3% |
| Other operating charges | 640/8 | €1,733 | €1,788 | +€55 | +3.2% |
| Gross operating margin | 9900 | €30,451 | €19,939 | -€10,512 | -34.5% |
| Operating profit (loss) | 9901 | €17,030 | €5,613 | -€11,417 | -67.0% |
| Financial income | 75/76B | €790 | €7 | -€783 | -99.1% |
| Recurring financial income | 75 | €790 | €7 | -€783 | -99.1% |
| Financial charges | 65/66B | €669 | €939 | +€270 | +40.4% |
| Recurring financial charges | 65 | €669 | €939 | +€270 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €17,150 | €4,681 | -€12,470 | -72.7% |
| Income taxes | 67/77 | €4,463 | €3,032 | -€1,432 | -32.1% |
| Profit (loss) for the period | 9904 | €12,687 | €1,649 | -€11,038 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,687 | €1,649 | -€11,038 | -87.0% |
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 3 October 2026 via checked.be.