Steph V: 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.
Steph V
Largest movements
- Receivables within one year +€4,400
up €4,400 (+433.0%), from €1,016 to €5,416
of which Trade receivables: +€4,348
- Tangible fixed assets -€223
down €223 (-68.1%), from €327 to €104
- Stocks and contracts -€70
down €70 (-18.4%), from €380 to €310
- Profit (loss) carried forward +€13,103
up €13,103 (+20.0%), from -€65,590 to -€52,487
- Other debts -€8,617
down €8,617 (-19.3%), from €44,761 to €36,144
- Trade debts -€2,021
down €2,021 (-69.1%), from €2,925 to €904
- Tax, wage and social debts +€1,660
up €1,660 (+96.8%), from €1,715 to €3,375
of which Remuneration and social security: +€1,196
- Depreciation -€1,319
down €1,319 (-85.5%), from €1,542 to €223
- Gross operating margin +€157
up €157 (+1.1%), from €13,917 to €14,073
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 | €2,410 | €6,535 | +€4,125 | +171.2% |
| Fixed assets | 21/28 | €327 | €104 | -€223 | -68.1% |
| Tangible fixed assets | 22/27 | €327 | €104 | -€223 | -68.1% |
| Plant, machinery and equipment | 23 | €327 | €104 | -€223 | -68.1% |
| Current assets | 29/58 | €2,083 | €6,431 | +€4,348 | +208.8% |
| Stocks and contracts in progress | 3 | €380 | €310 | -€70 | -18.4% |
| Stocks | 30/36 | €380 | €310 | -€70 | -18.4% |
| Amounts receivable within one year | 40/41 | €1,016 | €5,416 | +€4,400 | +433.0% |
| Trade receivables | 40 | €974 | €5,321 | +€4,348 | +446.4% |
| Other amounts receivable | 41 | €42 | €94 | +€52 | +123.0% |
| Cash at bank and in hand | 54/58 | €613 | €595 | -€18 | -2.9% |
| Deferred charges and accrued income | 490/1 | €74 | €110 | +€36 | +48.6% |
| Total equity and liabilities | 10/49 | €2,410 | €6,535 | +€4,125 | +171.2% |
| Equity | 10/15 | -€46,990 | -€33,887 | +€13,103 | +27.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,590 | -€52,487 | +€13,103 | +20.0% |
| Amounts payable | 17/49 | €49,400 | €40,422 | -€8,978 | -18.2% |
| Amounts payable within one year | 42/48 | €49,400 | €40,422 | -€8,978 | -18.2% |
| Trade debts | 44 | €2,925 | €904 | -€2,021 | -69.1% |
| Suppliers | 440/4 | €2,925 | €904 | -€2,021 | -69.1% |
| Taxes, remuneration and social security | 45 | €1,715 | €3,375 | +€1,660 | +96.8% |
| Taxes | 450/3 | €1,715 | €2,179 | +€464 | +27.1% |
| Remuneration and social security | 454/9 | - | €1,196 | +€1,196 | |
| Other amounts payable | 47/48 | €44,761 | €36,144 | -€8,617 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,542 | €223 | -€1,319 | -85.5% |
| Other operating charges | 640/8 | €506 | €546 | +€40 | +7.9% |
| Gross operating margin | 9900 | €13,917 | €14,073 | +€157 | +1.1% |
| Operating profit (loss) | 9901 | €11,869 | €13,305 | +€1,436 | +12.1% |
| Financial income | 75/76B | €64 | - | -€64 | |
| Recurring financial income | 75 | €64 | - | -€64 | |
| Financial charges | 65/66B | €135 | €142 | +€6 | +4.8% |
| Recurring financial charges | 65 | €135 | €142 | +€6 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €11,797 | €13,163 | +€1,366 | +11.6% |
| Income taxes | 67/77 | €59 | €60 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | €11,738 | €13,103 | +€1,365 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,738 | €13,103 | +€1,365 | +11.6% |
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 7 October 2026 via checked.be.