STEPHAN'S: 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.
STEPHAN'S
Largest movements
- Receivables within one year -€690
down €690 (-93.5%), from €737 to €48
- Profit (loss) carried forward -€943
down €943 (-5.0%), from -€19,024 to -€19,967
- Other operating charges +€14
up €14 (+2.8%), from €513 to €528
- Gross operating margin +€10
up €10 (+2.3%), from -€425 to -€415
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 | €59,786 | €59,020 | -€766 | -1.3% |
| Fixed assets | 21/28 | €58,819 | €58,819 | = | 0.0% |
| Tangible fixed assets | 22/27 | €58,819 | €58,819 | = | 0.0% |
| Other tangible fixed assets | 26 | €58,819 | €58,819 | = | 0.0% |
| Current assets | 29/58 | €967 | €201 | -€766 | -79.2% |
| Amounts receivable within one year | 40/41 | €737 | €48 | -€690 | -93.5% |
| Other amounts receivable | 41 | €737 | €48 | -€690 | -93.5% |
| Cash at bank and in hand | 54/58 | €230 | €153 | -€77 | -33.5% |
| Total equity and liabilities | 10/49 | €59,786 | €59,020 | -€766 | -1.3% |
| Equity | 10/15 | €42,976 | €42,033 | -€943 | -2.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,024 | -€19,967 | -€943 | -5.0% |
| Amounts payable | 17/49 | €16,810 | €16,987 | +€176 | +1.0% |
| Amounts payable within one year | 42/48 | €16,810 | €16,987 | +€176 | +1.0% |
| Trade debts | 44 | €864 | €844 | -€20 | -2.3% |
| Suppliers | 440/4 | €864 | €844 | -€20 | -2.3% |
| Other amounts payable | 47/48 | €15,946 | €16,142 | +€196 | +1.2% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€425 | -€415 | +€10 | +2.3% |
| Operating profit (loss) | 9901 | -€938 | -€943 | -€5 | -0.5% |
| Financial charges | 65/66B | €0 | €0 | -€0 | -6.3% |
| Recurring financial charges | 65 | €0 | €0 | -€0 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€938 | -€943 | -€5 | -0.5% |
| Profit (loss) for the period | 9904 | -€938 | -€943 | -€5 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€938 | -€943 | -€5 | -0.5% |
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 3 October 2026 via checked.be.