STEPAVAN: 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.
STEPAVAN
Largest movements
- Tangible fixed assets -€93,244
down €93,244 (-8.8%), from €1.1m to €968,869
of which Land and buildings: -€92,038
- Current investments -€46,000
down €46,000 (-38.3%), from €120,000 to €74,000
- Cash +€20,834
up €20,834 (+264.2%), from €7,886 to €28,720
mainly Depreciation (+€77,600) and Current investments (+€46,000)
- Reserves -€81,571
down €81,571 (-9.3%), from €873,530 to €791,960
- Other debts -€38,477
down €38,477 (-30.7%), from €125,409 to €86,932
- Depreciation -€7,523
down €7,523 (-8.8%), from €85,124 to €77,600
- Gross operating margin -€2,872
down €2,872 (-98.0%), from €2,930 to €58
- Financial income +€1,506
up €1,506 (+519.6%), from €290 to €1,796
- Other operating charges -€1,363
down €1,363 (-20.0%), from €6,815 to €5,453
- Taxes +€297
new in 2025: €297
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 | €1,199,223 | €1,078,422 | -€120,800 | -10.1% |
| Fixed assets | 21/28 | €1,062,113 | €968,869 | -€93,244 | -8.8% |
| Tangible fixed assets | 22/27 | €1,062,113 | €968,869 | -€93,244 | -8.8% |
| Land and buildings | 22 | €1,059,991 | €967,952 | -€92,038 | -8.7% |
| Plant, machinery and equipment | 23 | €1,662 | €754 | -€908 | -54.6% |
| Furniture and vehicles | 24 | €460 | €163 | -€297 | -64.6% |
| Current assets | 29/58 | €137,110 | €109,553 | -€27,557 | -20.1% |
| Amounts receivable within one year | 40/41 | €4,927 | €2,548 | -€2,379 | -48.3% |
| Trade receivables | 40 | €4,840 | €1,452 | -€3,388 | -70.0% |
| Other amounts receivable | 41 | €87 | €1,096 | +€1,009 | +1162.4% |
| Current investments | 50/53 | €120,000 | €74,000 | -€46,000 | -38.3% |
| Cash at bank and in hand | 54/58 | €7,886 | €28,720 | +€20,834 | +264.2% |
| Deferred charges and accrued income | 490/1 | €4,297 | €4,285 | -€12 | -0.3% |
| Total equity and liabilities | 10/49 | €1,199,223 | €1,078,422 | -€120,800 | -10.1% |
| Equity | 10/15 | €892,280 | €810,710 | -€81,571 | -9.1% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €873,530 | €791,960 | -€81,571 | -9.3% |
| Distributable reserves | 133 | €873,530 | €791,960 | -€81,571 | -9.3% |
| Amounts payable | 17/49 | €306,942 | €267,712 | -€39,230 | -12.8% |
| Amounts payable after more than one year | 17 | €175,000 | €175,000 | = | 0.0% |
| Financial debts | 170/4 | €175,000 | €175,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €131,942 | €92,712 | -€39,230 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €2,625 | €2,625 | = | 0.0% |
| Trade debts | 44 | €630 | €2,181 | +€1,551 | +246.4% |
| Suppliers | 440/4 | €630 | €2,181 | +€1,551 | +246.4% |
| Taxes, remuneration and social security | 45 | €3,279 | €975 | -€2,304 | -70.3% |
| Taxes | 450/3 | €3,279 | €975 | -€2,304 | -70.3% |
| Other amounts payable | 47/48 | €125,409 | €86,932 | -€38,477 | -30.7% |
| Non-recurring operating income | 76A | €272 | €2,384 | +€2,112 | +775.3% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,124 | €77,600 | -€7,523 | -8.8% |
| Other operating charges | 640/8 | €6,815 | €5,453 | -€1,363 | -20.0% |
| Gross operating margin | 9900 | €2,930 | €58 | -€2,872 | -98.0% |
| Operating profit (loss) | 9901 | -€89,009 | -€82,995 | +€6,014 | +6.8% |
| Financial income | 75/76B | €290 | €1,796 | +€1,506 | +519.6% |
| Recurring financial income | 75 | €290 | €1,796 | +€1,506 | +519.6% |
| Financial charges | 65/66B | €148 | €75 | -€73 | -49.2% |
| Recurring financial charges | 65 | €148 | €75 | -€73 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | -€88,867 | -€81,274 | +€7,593 | +8.5% |
| Income taxes | 67/77 | - | €297 | +€297 | |
| Profit (loss) for the period | 9904 | -€88,867 | -€81,571 | +€7,296 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€88,867 | -€81,571 | +€7,296 | +8.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.