STEPGA: 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.
STEPGA
Largest movements
- Tangible fixed assets -€32,446
down €32,446 (-9.3%), from €348,062 to €315,616
of which Furniture and vehicles: -€17,411
- Receivables within one year -€5,239
down €5,239 (-32.5%), from €16,104 to €10,866
of which Other amounts receivable: -€7,571
- Debts after one year -€25,929
down €25,929 (-10.6%), from €244,188 to €218,259
- Other debts -€10,908
down €10,908 (-85.2%), from €12,808 to €1,900
- Reserves +€7,912
up €7,912 (+425%), from €1,860 to €9,772
of which Distributable reserves: +€7,912
- Short-term financial debts -€6,316
no longer reported in 2025 (was €6,316)
- Current portion of long-term debt -€5,225
down €5,225 (-15.8%), from €33,107 to €27,882
- Gross operating margin +€24,888
up €24,888 (+65.6%), from €37,956 to €62,844
- Taxes +€2,895
up €2,895 (+309%), from €938 to €3,833
- Financial charges -€2,661
down €2,661 (-29.3%), from €9,077 to €6,416
- Depreciation +€1,429
up €1,429 (+4.4%), from €32,147 to €33,577
- Other operating charges +€677
up €677 (+49.7%), from €1,364 to €2,042
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 | €368,623 | €331,675 | -€36,948 | -10.0% |
| Fixed assets | 21/28 | €348,062 | €315,616 | -€32,446 | -9.3% |
| Tangible fixed assets | 22/27 | €348,062 | €315,616 | -€32,446 | -9.3% |
| Land and buildings | 22 | €304,649 | €290,758 | -€13,891 | -4.6% |
| Furniture and vehicles | 24 | €41,217 | €23,806 | -€17,411 | -42.2% |
| Leasing and similar rights | 25 | €2,196 | €1,052 | -€1,144 | -52.1% |
| Current assets | 29/58 | €20,561 | €16,059 | -€4,502 | -21.9% |
| Amounts receivable within one year | 40/41 | €16,104 | €10,866 | -€5,239 | -32.5% |
| Trade receivables | 40 | €8,480 | €10,813 | +€2,332 | +27.5% |
| Other amounts receivable | 41 | €7,624 | €53 | -€7,571 | -99.3% |
| Cash at bank and in hand | 54/58 | €1,200 | €1,601 | +€401 | +33.4% |
| Deferred charges and accrued income | 490/1 | €3,257 | €3,592 | +€336 | +10.3% |
| Total equity and liabilities | 10/49 | €368,623 | €331,675 | -€36,948 | -10.0% |
| Equity | 10/15 | €57,844 | €65,756 | +€7,912 | +13.7% |
| Contributions | 10/11 | €18,400 | €18,400 | = | 0.0% |
| Contributions outside capital | 11 | €18,400 | €18,400 | = | 0.0% |
| Other | 1109/19 | €18,400 | €18,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €9,772 | +€7,912 | +425% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €7,912 | +€7,912 | |
| Profit (loss) carried forward | 14 | €37,584 | €37,584 | = | 0.0% |
| Amounts payable | 17/49 | €310,779 | €265,919 | -€44,860 | -14.4% |
| Amounts payable after more than one year | 17 | €244,188 | €218,259 | -€25,929 | -10.6% |
| Financial debts | 170/4 | €244,188 | €218,259 | -€25,929 | -10.6% |
| Amounts payable within one year | 42/48 | €66,591 | €47,660 | -€18,931 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €33,107 | €27,882 | -€5,225 | -15.8% |
| Financial debts | 43 | €6,316 | - | -€6,316 | |
| Credit institutions | 430/8 | €6,316 | - | -€6,316 | |
| Trade debts | 44 | €8,573 | €9,681 | +€1,109 | +12.9% |
| Suppliers | 440/4 | €8,573 | €9,681 | +€1,109 | +12.9% |
| Taxes, remuneration and social security | 45 | €5,788 | €8,196 | +€2,409 | +41.6% |
| Taxes | 450/3 | €5,788 | €8,196 | +€2,409 | +41.6% |
| Other amounts payable | 47/48 | €12,808 | €1,900 | -€10,908 | -85.2% |
| Non-recurring operating income | 76A | €257 | €163 | -€94 | -36.7% |
| Remuneration, social security and pensions | 62 | - | €367 | +€367 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,147 | €33,577 | +€1,429 | +4.4% |
| Other operating charges | 640/8 | €1,364 | €2,042 | +€677 | +49.7% |
| Non-recurring operating charges | 66A | €1,770 | €1,946 | +€176 | +9.9% |
| Gross operating margin | 9900 | €37,956 | €62,844 | +€24,888 | +65.6% |
| Operating profit (loss) | 9901 | €2,675 | €24,914 | +€22,239 | +831% |
| Financial income | 75/76B | €17 | €498 | +€481 | +2,798% |
| Recurring financial income | 75 | €17 | €498 | +€481 | +2,798% |
| Financial charges | 65/66B | €9,077 | €6,416 | -€2,661 | -29.3% |
| Recurring financial charges | 65 | €9,077 | €6,416 | -€2,661 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,385 | €18,996 | +€25,381 | |
| Income taxes | 67/77 | €938 | €3,833 | +€2,895 | +309% |
| Profit (loss) for the period | 9904 | -€7,323 | €15,163 | +€22,486 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,323 | €15,163 | +€22,486 |
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 16 October 2026 via checked.be.