Stepago: 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.
Stepago
Largest movements
- Stocks and contracts +€180,606
up €180,606 (+40.6%), from €445,375 to €625,981
- Cash -€65,629
no longer reported in 2025 (was €65,629)
mainly Stocks and contracts (-€180,606) and Debts after one year (-€63,640)
- Tangible fixed assets -€17,864
down €17,864 (-1.9%), from €939,322 to €921,458
- Trade debts +€117,692
up €117,692 (+491.0%), from €23,971 to €141,663
- Debts after one year -€63,640
down €63,640 (-14.0%), from €453,266 to €389,626
- Other debts +€33,450
up €33,450 (+3.6%), from €924,061 to €957,511
- Financial charges +€16,763
up €16,763 (+59.3%), from €28,254 to €45,017
- Other operating charges -€15,817
no longer reported in 2025 (was €15,817)
- Gross operating margin -€15,378
down €15,378 (-23.2%), from €66,179 to €50,801
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 | €1,526,391 | €1,607,879 | +€81,488 | +5.3% |
| Fixed assets | 21/28 | €939,322 | €921,458 | -€17,864 | -1.9% |
| Tangible fixed assets | 22/27 | €939,322 | €921,458 | -€17,864 | -1.9% |
| Land and buildings | 22 | €939,322 | €921,458 | -€17,864 | -1.9% |
| Current assets | 29/58 | €587,069 | €686,421 | +€99,352 | +16.9% |
| Stocks and contracts in progress | 3 | €445,375 | €625,981 | +€180,606 | +40.6% |
| Stocks | 30/36 | €445,375 | €625,981 | +€180,606 | +40.6% |
| Amounts receivable within one year | 40/41 | €15,625 | - | -€15,625 | |
| Trade receivables | 40 | €2,178 | - | -€2,178 | |
| Other amounts receivable | 41 | €13,447 | - | -€13,447 | |
| Cash at bank and in hand | 54/58 | €65,629 | - | -€65,629 | |
| Deferred charges and accrued income | 490/1 | €60,440 | €60,440 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,526,391 | €1,607,879 | +€81,488 | +5.3% |
| Equity | 10/15 | €59,641 | €47,561 | -€12,080 | -20.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,359 | -€27,439 | -€12,080 | -78.7% |
| Amounts payable | 17/49 | €1,466,750 | €1,560,318 | +€93,568 | +6.4% |
| Amounts payable after more than one year | 17 | €453,266 | €389,626 | -€63,640 | -14.0% |
| Financial debts | 170/4 | €453,266 | €389,626 | -€63,640 | -14.0% |
| Amounts payable within one year | 42/48 | €1,013,484 | €1,166,291 | +€152,807 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €60,172 | €64,878 | +€4,706 | +7.8% |
| Financial debts | 43 | - | €58 | +€58 | |
| Credit institutions | 430/8 | - | €58 | +€58 | |
| Trade debts | 44 | €23,971 | €141,663 | +€117,692 | +491.0% |
| Suppliers | 440/4 | €23,971 | €141,663 | +€117,692 | +491.0% |
| Taxes, remuneration and social security | 45 | €5,280 | €2,181 | -€3,099 | -58.7% |
| Taxes | 450/3 | €5,280 | €2,181 | -€3,099 | -58.7% |
| Other amounts payable | 47/48 | €924,061 | €957,511 | +€33,450 | +3.6% |
| Accrued charges and deferred income | 492/3 | - | €4,401 | +€4,401 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,864 | €17,864 | = | 0.0% |
| Other operating charges | 640/8 | €15,817 | - | -€15,817 | |
| Gross operating margin | 9900 | €66,179 | €50,801 | -€15,378 | -23.2% |
| Operating profit (loss) | 9901 | €32,498 | €32,937 | +€439 | +1.4% |
| Financial charges | 65/66B | €28,254 | €45,017 | +€16,763 | +59.3% |
| Recurring financial charges | 65 | €28,254 | €45,017 | +€16,763 | +59.3% |
| Profit (loss) for the period before taxes | 9903 | €4,244 | -€12,080 | -€16,324 | |
| Profit (loss) for the period | 9904 | €4,244 | -€12,080 | -€16,324 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,244 | -€12,080 | -€16,324 |
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.