STEPCO: 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.
STEPCO
Largest movements
- Stocks and contracts +€274,469
new in 2025: €274,469
- Cash -€223,018
down €223,018 (-99.4%), from €224,395 to €1,377
mainly Stocks and contracts (-€274,469) and Tax, wage and social debts (-€38,014)
- Tangible fixed assets -€3,589
down €3,589 (-48.4%), from €7,409 to €3,820
- Profit (loss) carried forward +€75,788
up €75,788 (+37.1%), from €204,492 to €280,280
- Tax, wage and social debts -€38,014
down €38,014 (-50.4%), from €75,437 to €37,423
of which Taxes: -€40,130
- Other debts +€9,122
up €9,122 (+84.8%), from €10,758 to €19,880
- Gross operating margin -€176,863
down €176,863 (-59.9%), from €295,306 to €118,442
- Taxes -€40,371
down €40,371 (-65.6%), from €61,500 to €21,129
- Staff costs -€8,191
down €8,191 (-33.4%), from €24,505 to €16,315
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 | €293,529 | €338,652 | +€45,124 | +15.4% |
| Fixed assets | 21/28 | €7,493 | €3,904 | -€3,589 | -47.9% |
| Tangible fixed assets | 22/27 | €7,409 | €3,820 | -€3,589 | -48.4% |
| Furniture and vehicles | 24 | €7,409 | €3,820 | -€3,589 | -48.4% |
| Financial fixed assets | 28 | €84 | €84 | = | 0.0% |
| Current assets | 29/58 | €286,036 | €334,748 | +€48,713 | +17.0% |
| Stocks and contracts in progress | 3 | - | €274,469 | +€274,469 | |
| Stocks | 30/36 | - | €274,469 | +€274,469 | |
| Amounts receivable within one year | 40/41 | €61,641 | €58,882 | -€2,759 | -4.5% |
| Trade receivables | 40 | €61,641 | €58,882 | -€2,759 | -4.5% |
| Cash at bank and in hand | 54/58 | €224,395 | €1,377 | -€223,018 | -99.4% |
| Deferred charges and accrued income | 490/1 | - | €20 | +€20 | |
| Total equity and liabilities | 10/49 | €293,529 | €338,652 | +€45,124 | +15.4% |
| Equity | 10/15 | €205,492 | €281,280 | +€75,788 | +36.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €204,492 | €280,280 | +€75,788 | +37.1% |
| Amounts payable | 17/49 | €88,037 | €57,373 | -€30,664 | -34.8% |
| Amounts payable within one year | 42/48 | €88,037 | €57,373 | -€30,664 | -34.8% |
| Trade debts | 44 | €1,842 | €70 | -€1,772 | -96.2% |
| Suppliers | 440/4 | €1,842 | €70 | -€1,772 | -96.2% |
| Taxes, remuneration and social security | 45 | €75,437 | €37,423 | -€38,014 | -50.4% |
| Taxes | 450/3 | €71,374 | €31,245 | -€40,130 | -56.2% |
| Remuneration and social security | 454/9 | €4,062 | €6,178 | +€2,116 | +52.1% |
| Other amounts payable | 47/48 | €10,758 | €19,880 | +€9,122 | +84.8% |
| Remuneration, social security and pensions | 62 | €24,505 | €16,315 | -€8,191 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,358 | €3,589 | +€231 | +6.9% |
| Other operating charges | 640/8 | €398 | €970 | +€573 | +144.1% |
| Non-recurring operating charges | 66A | €744 | €212 | -€532 | -71.5% |
| Gross operating margin | 9900 | €295,306 | €118,442 | -€176,863 | -59.9% |
| Operating profit (loss) | 9901 | €266,301 | €97,356 | -€168,945 | -63.4% |
| Financial income | 75/76B | €183 | - | -€183 | |
| Recurring financial income | 75 | €183 | - | -€183 | |
| Financial charges | 65/66B | €492 | €439 | -€53 | -10.8% |
| Recurring financial charges | 65 | €492 | €439 | -€53 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €265,992 | €96,917 | -€169,075 | -63.6% |
| Income taxes | 67/77 | €61,500 | €21,129 | -€40,371 | -65.6% |
| Profit (loss) for the period | 9904 | €204,492 | €75,788 | -€128,704 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €204,492 | €75,788 | -€128,704 | -62.9% |
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 28 September 2026 via checked.be.