STEPCOM: what changed
Two financial 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.
STEPCOM
Largest movements
- Cash -€180,015
down €180,015 (-75.3%), from €239,196 to €59,182
mainly Other debts (-€185,844) and Debts after one year (-€33,321)
- Tangible fixed assets -€48,540
down €48,540 (-8.3%), from €585,094 to €536,555
of which Leasing and similar rights: -€25,686
- Other debts -€185,844
down €185,844 (-65.6%), from €283,357 to €97,514
- Debts after one year -€33,321
down €33,321 (-51.0%), from €65,396 to €32,075
- Current portion of long-term debt -€12,641
down €12,641 (-27.5%), from €45,961 to €33,321
- Financial charges -€35,285
down €35,285 (-91.0%), from €38,765 to €3,480
- Gross operating margin +€23,438
up €23,438 (+62.1%), from €37,755 to €61,193
- Taxes -€8,732
down €8,732 (-60.4%), from €14,464 to €5,732
- Other operating charges -€3,018
down €3,018 (-38.4%), from €7,851 to €4,832
- Depreciation -€1,573
down €1,573 (-3.1%), from €50,113 to €48,540
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.
Derived cash bridge
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 | €1,208,402 | €975,390 | -€233,012 | -19.3% |
| Fixed assets | 21/28 | €585,094 | €536,555 | -€48,540 | -8.3% |
| Tangible fixed assets | 22/27 | €585,094 | €536,555 | -€48,540 | -8.3% |
| Land and buildings | 22 | €496,880 | €477,700 | -€19,180 | -3.9% |
| Plant, machinery and equipment | 23 | €3,125 | €1,253 | -€1,871 | -59.9% |
| Furniture and vehicles | 24 | €2,402 | €600 | -€1,802 | -75.0% |
| Leasing and similar rights | 25 | €82,687 | €57,001 | -€25,686 | -31.1% |
| Current assets | 29/58 | €623,308 | €438,836 | -€184,472 | -29.6% |
| Stocks and contracts in progress | 3 | €110,134 | €110,134 | = | 0.0% |
| Stocks | 30/36 | €110,134 | €110,134 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €269,493 | €265,035 | -€4,457 | -1.7% |
| Trade receivables | 40 | €5,371 | €2,880 | -€2,492 | -46.4% |
| Other amounts receivable | 41 | €264,121 | €262,155 | -€1,966 | -0.7% |
| Cash at bank and in hand | 54/58 | €239,196 | €59,182 | -€180,015 | -75.3% |
| Deferred charges and accrued income | 490/1 | €4,485 | €4,485 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,208,402 | €975,390 | -€233,012 | -19.3% |
| Equity | 10/15 | €779,858 | €788,678 | +€8,820 | +1.1% |
| Contributions | 10/11 | €117,400 | €117,400 | = | 0.0% |
| Reserves | 13 | €662,458 | €671,278 | +€8,820 | +1.3% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €662,458 | €671,278 | +€8,820 | +1.3% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €428,544 | €186,712 | -€241,832 | -56.4% |
| Amounts payable after more than one year | 17 | €65,396 | €32,075 | -€33,321 | -51.0% |
| Financial debts | 170/4 | €65,396 | €32,075 | -€33,321 | -51.0% |
| Amounts payable within one year | 42/48 | €363,149 | €154,638 | -€208,511 | -57.4% |
| Current portion of amounts payable after more than one year | 42 | €45,961 | €33,321 | -€12,641 | -27.5% |
| Trade debts | 44 | €2,955 | €0 | -€2,955 | -100% |
| Suppliers | 440/4 | €2,955 | €0 | -€2,955 | -100% |
| Taxes, remuneration and social security | 45 | €30,875 | €23,803 | -€7,072 | -22.9% |
| Taxes | 450/3 | €30,875 | €23,803 | -€7,072 | -22.9% |
| Other amounts payable | 47/48 | €283,357 | €97,514 | -€185,844 | -65.6% |
| Non-recurring operating income | 76A | €3,543 | €0 | -€3,543 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,113 | €48,540 | -€1,573 | -3.1% |
| Other operating charges | 640/8 | €7,851 | €4,832 | -€3,018 | -38.4% |
| Gross operating margin | 9900 | €37,755 | €61,193 | +€23,438 | +62.1% |
| Operating profit (loss) | 9901 | -€20,208 | €7,821 | +€28,029 | |
| Financial income | 75/76B | €11,650 | €10,211 | -€1,438 | -12.3% |
| Recurring financial income | 75 | €11,650 | €10,211 | -€1,438 | -12.3% |
| Financial charges | 65/66B | €38,765 | €3,480 | -€35,285 | -91.0% |
| Recurring financial charges | 65 | €38,765 | €3,480 | -€35,285 | -91.0% |
| Profit (loss) for the period before taxes | 9903 | -€47,324 | €14,552 | +€61,876 | |
| Transfer from deferred taxes | 780 | €29,474 | €0 | -€29,474 | -100% |
| Income taxes | 67/77 | €14,464 | €5,732 | -€8,732 | -60.4% |
| Profit (loss) for the period | 9904 | -€32,314 | €8,820 | +€41,134 | |
| Transfer from tax-exempt reserves | 789 | €70,168 | €0 | -€70,168 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €37,854 | €8,820 | -€29,034 | -76.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.