Stéphanie Square: 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.
What changed
Stéphanie Square
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3.2m
2024 · -€882,485-€2.3m
Equity
€35.6m
2024 · €33.8m+€1.8m
Cash
€4.6m
2024 · €4.5m+€101,352
Balance sheet total
€99.9m
2024 · €97.7m+€2.2m
Largest movements
Assets
- Tangible fixed assets +€2.6m
up €2.6m (+2.9%), from €90.7m to €93.3m
Equity and liabilities
- Contributions +€5.0m
up €5.0m (+14.1%), from €35.5m to €40.5m
- Profit (loss) carried forward -€3.2m
down €3.2m (-197.1%), from -€1.6m to -€4.9m
Income statement
- Turnover -€941,896
down €941,896 (-22.9%), from €4.1m to €3.2m
- Services and other goods +€473,625
up €473,625 (+35.8%), from €1.3m to €1.8m
- Other operating income -€412,369
down €412,369 (-38.0%), from €1.1m to €671,608
- Taxes +€385,018
up €385,018 (+609.2%), from €63,200 to €448,218
- Depreciation +€74,500
up €74,500 (+5.7%), from €1.3m to €1.4m
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.
Result 2024
-€882,485
Turnover
-€941,896
Other operating income
-€412,369
Services and other goods
-€473,625
Depreciation
-€74,500
Other operating charges
-€25,991
Financial income
-€28,401
Financial charges
+€5,690
Taxes
-€385,018
Result 2025
-€3.2m
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.
From operations
-€1.2m
Investment
-€3.7m
Financing
+€5.1m
Cash 2024
€4.5m
From operations (derived)
-€1.2m
Net result for the year
-€3.2m
Depreciation
+€1.4m
Receivables within one year
+€653,222
Deferred charges and accrued income
-€378,600
Trade debts
+€352,104
Tax, wage and social debts
+€25,260
Accrued charges and deferred income
-€41,719
Investment (derived)
-€3.7m
Investment in fixed assets (net)
-€3.7m
Financing
+€5.1m
Debts after one year
+€57,213
Contributions, distributions and other
+€5.0m
Cash 2025
€4.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €97,723,292 | €99,897,557 | +€2.2m | +2.2% |
| Formation expenses | 20 | €564,019 | €319,217 | -€244,802 | -43.4% |
| Fixed assets | 21/28 | €90,691,984 | €93,284,321 | +€2.6m | +2.9% |
| Tangible fixed assets | 22/27 | €90,691,984 | €93,284,321 | +€2.6m | +2.9% |
| Land and buildings | 22 | €90,691,984 | €93,284,321 | +€2.6m | +2.9% |
| Current assets | 29/58 | €6,467,289 | €6,294,019 | -€173,271 | -2.7% |
| Amounts receivable within one year | 40/41 | €1,603,416 | €950,194 | -€653,222 | -40.7% |
| Trade receivables | 40 | €1,342,416 | €695,585 | -€646,831 | -48.2% |
| Other amounts receivable | 41 | €261,000 | €254,609 | -€6,391 | -2.4% |
| Cash at bank and in hand | 54/58 | €4,517,230 | €4,618,581 | +€101,352 | +2.2% |
| Deferred charges and accrued income | 490/1 | €346,644 | €725,244 | +€378,600 | +109.2% |
| Total equity and liabilities | 10/49 | €97,723,292 | €99,897,557 | +€2.2m | +2.2% |
| Equity | 10/15 | €33,848,637 | €35,630,043 | +€1.8m | +5.3% |
| Contributions | 10/11 | €35,481,278 | €40,481,278 | +€5.0m | +14.1% |
| Profit (loss) carried forward | 14 | -€1,632,640 | -€4,851,234 | -€3.2m | -197.1% |
| Amounts payable | 17/49 | €63,874,655 | €64,267,513 | +€392,858 | +0.6% |
| Amounts payable after more than one year | 17 | €58,676,382 | €58,733,594 | +€57,213 | +0.1% |
| Financial debts | 170/4 | €58,500,000 | €58,500,000 | = | 0.0% |
| Other loans | 174 | €58,500,000 | €58,500,000 | = | 0.0% |
| Other amounts payable | 178/9 | €176,382 | €233,594 | +€57,213 | +32.4% |
| Amounts payable within one year | 42/48 | €3,196,027 | €3,573,392 | +€377,365 | +11.8% |
| Trade debts | 44 | €3,168,056 | €3,520,160 | +€352,104 | +11.1% |
| Suppliers | 440/4 | €3,168,056 | €3,520,160 | +€352,104 | +11.1% |
| Taxes, remuneration and social security | 45 | €27,972 | €53,232 | +€25,260 | +90.3% |
| Taxes | 450/3 | €27,972 | €53,232 | +€25,260 | +90.3% |
| Accrued charges and deferred income | 492/3 | €2,002,246 | €1,960,527 | -€41,719 | -2.1% |
| Operating income | 70/76A | €5,195,713 | €3,841,448 | -€1.4m | -26.1% |
| Turnover | 70 | €4,111,736 | €3,169,841 | -€941,896 | -22.9% |
| Other operating income | 74 | €1,083,977 | €671,608 | -€412,369 | -38.0% |
| Operating charges | 60/66A | €3,870,309 | €4,444,425 | +€574,115 | +14.8% |
| Services and other goods | 61 | €1,323,059 | €1,796,684 | +€473,625 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,305,051 | €1,379,551 | +€74,500 | +5.7% |
| Other operating charges | 640/8 | €1,242,199 | €1,268,189 | +€25,991 | +2.1% |
| Operating profit (loss) | 9901 | €1,325,404 | -€602,977 | -€1.9m | |
| Financial income | 75/76B | €61,784 | €33,383 | -€28,401 | -46.0% |
| Recurring financial income | 75 | €61,784 | €33,383 | -€28,401 | -46.0% |
| Income from current assets | 751 | €61,784 | €33,383 | -€28,401 | -46.0% |
| Financial charges | 65/66B | €2,206,472 | €2,200,782 | -€5,690 | -0.3% |
| Recurring financial charges | 65 | €2,206,472 | €2,200,782 | -€5,690 | -0.3% |
| Debt charges | 650 | €2,199,760 | €2,193,750 | -€6,010 | -0.3% |
| Other financial charges | 652/9 | €6,712 | €7,032 | +€321 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | -€819,285 | -€2,770,376 | -€2.0m | -238.1% |
| Income taxes | 67/77 | €63,200 | €448,218 | +€385,018 | +609.2% |
| Taxes | 670/3 | €63,200 | €448,218 | +€385,018 | +609.2% |
| Profit (loss) for the period | 9904 | -€882,485 | -€3,218,594 | -€2.3m | -264.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€882,485 | -€3,218,594 | -€2.3m | -264.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.