STEP CONSTRUCTION: 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 CONSTRUCTION
Largest movements
- Cash -€106,407
down €106,407 (-95.0%), from €111,985 to €5,578
mainly Net result for the year (-€78,502) and Trade debts (-€61,461)
- Receivables after one year -€40,000
down €40,000 (-2.5%), from €1.6m to €1.6m
- Reserves -€156,917
down €156,917 (-10.0%), from €1.6m to €1.4m
of which Tax-exempt reserves: -€156,917
- Profit (loss) carried forward +€78,414
up €78,414, from -€78,414 to €0
- Trade debts -€61,461
down €61,461 (-84.8%), from €72,496 to €11,035
- Provisions -€29,378
down €29,378 (-15.1%), from €194,699 to €165,321
- Gross operating margin -€310,673
down €310,673 (-94.1%), from €330,317 to €19,645
- Staff costs -€281,392
down €281,392 (-66.3%), from €424,470 to €143,077
- Depreciation -€18,803
down €18,803 (-100.0%), from €18,803 to €0
- Provisions -€15,659
down €15,659 (-114.1%), from -€13,719 to -€29,378
- Financial income -€7,325
down €7,325 (-31.3%), from €23,380 to €16,056
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 | €1,787,409 | €1,610,288 | -€177,121 | -9.9% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €1,787,409 | €1,610,288 | -€177,121 | -9.9% |
| Amounts receivable after more than one year | 29 | €1,616,025 | €1,576,025 | -€40,000 | -2.5% |
| Other amounts receivable | 291 | €1,616,025 | €1,576,025 | -€40,000 | -2.5% |
| Stocks and contracts in progress | 3 | €4,722 | €0 | -€4,722 | -100.0% |
| Stocks | 30/36 | €4,722 | €0 | -€4,722 | -100.0% |
| Amounts receivable within one year | 40/41 | €28,617 | €12,959 | -€15,658 | -54.7% |
| Trade receivables | 40 | €23,561 | €1,051 | -€22,511 | -95.5% |
| Other amounts receivable | 41 | €5,056 | €11,909 | +€6,853 | +135.6% |
| Cash at bank and in hand | 54/58 | €111,985 | €5,578 | -€106,407 | -95.0% |
| Deferred charges and accrued income | 490/1 | €26,059 | €15,725 | -€10,334 | -39.7% |
| Total equity and liabilities | 10/49 | €1,787,409 | €1,610,288 | -€177,121 | -9.9% |
| Equity | 10/15 | €1,512,434 | €1,433,932 | -€78,502 | -5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,572,249 | €1,415,332 | -€156,917 | -10.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,570,389 | €1,413,472 | -€156,917 | -10.0% |
| Profit (loss) carried forward | 14 | -€78,414 | €0 | +€78,414 | |
| Provisions and deferred taxes | 16 | €194,699 | €165,321 | -€29,378 | -15.1% |
| Provisions for liabilities and charges | 160/5 | €194,699 | €165,321 | -€29,378 | -15.1% |
| Other liabilities and charges | 164/5 | €194,699 | €165,321 | -€29,378 | -15.1% |
| Amounts payable | 17/49 | €80,275 | €11,035 | -€69,241 | -86.3% |
| Amounts payable within one year | 42/48 | €80,275 | €11,035 | -€69,241 | -86.3% |
| Trade debts | 44 | €72,496 | €11,035 | -€61,461 | -84.8% |
| Suppliers | 440/4 | €72,496 | €11,035 | -€61,461 | -84.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €7,779 | €0 | -€7,779 | -100.0% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €7,779 | €0 | -€7,779 | -100.0% |
| Non-recurring operating income | 76A | €277 | €745 | +€469 | +169.5% |
| Remuneration, social security and pensions | 62 | €424,470 | €143,077 | -€281,392 | -66.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,803 | €0 | -€18,803 | -100.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€13,719 | -€29,378 | -€15,659 | -114.1% |
| Other operating charges | 640/8 | €2,060 | €530 | -€1,530 | -74.3% |
| Non-recurring operating charges | 66A | €120 | €518 | +€398 | +331.4% |
| Gross operating margin | 9900 | €330,317 | €19,645 | -€310,673 | -94.1% |
| Operating profit (loss) | 9901 | -€101,415 | -€95,102 | +€6,314 | +6.2% |
| Financial income | 75/76B | €23,380 | €16,056 | -€7,325 | -31.3% |
| Recurring financial income | 75 | €23,380 | €16,056 | -€7,325 | -31.3% |
| Financial charges | 65/66B | €187 | €234 | +€47 | +25.3% |
| Recurring financial charges | 65 | €187 | €234 | +€47 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | -€78,222 | -€79,280 | -€1,058 | -1.4% |
| Income taxes | 67/77 | €193 | -€778 | -€970 | |
| Profit (loss) for the period | 9904 | -€78,414 | -€78,502 | -€88 | -0.1% |
| Transfer from tax-exempt reserves | 789 | - | €156,917 | +€156,917 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€78,414 | €78,414 | +€156,829 |
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 30 September 2026 via checked.be.