STEPHANY'S: 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.
STEPHANY'S
Largest movements
- Receivables after one year -€20,000
down €20,000 (-5.2%), from €385,000 to €365,000
- Cash +€5,584
up €5,584 (+156%), from €3,575 to €9,159
mainly Receivables after one year (+€20,000) and Current portion of long-term debt (+€11,500)
- Receivables within one year +€4,056
up €4,056 (+187%), from €2,168 to €6,224
of which Other amounts receivable: +€2,205
- Debts after one year -€11,500
down €11,500 (-65.0%), from €17,695 to €6,195
- Current portion of long-term debt +€11,500
new in 2025: €11,500
- Profit (loss) carried forward -€5,100
new in 2025: -€5,100
- Provisions -€4,500
no longer reported in 2025 (was €4,500)
- Staff costs +€16,905
up €16,905 (+35.8%), from €47,165 to €64,070
- Gross operating margin +€14,595
up €14,595 (+26.0%), from €56,142 to €70,737
- Other operating charges +€3,676
up €3,676 (+1,021%), from €360 to €4,036
- Financial income -€2,032
down €2,032 (-35.2%), from €5,775 to €3,743
- Financial charges +€1,226
up €1,226 (+13.0%), from €9,442 to €10,668
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 | €405,265 | €390,979 | -€14,286 | -3.5% |
| Fixed assets | 21/28 | €2,581 | €2,140 | -€441 | -17.1% |
| Tangible fixed assets | 22/27 | €1,530 | €1,089 | -€441 | -28.8% |
| Furniture and vehicles | 24 | €1,530 | €1,089 | -€441 | -28.8% |
| Financial fixed assets | 28 | €1,051 | €1,051 | = | 0.0% |
| Current assets | 29/58 | €402,684 | €388,839 | -€13,845 | -3.4% |
| Amounts receivable after more than one year | 29 | €385,000 | €365,000 | -€20,000 | -5.2% |
| Other amounts receivable | 291 | €385,000 | €365,000 | -€20,000 | -5.2% |
| Stocks and contracts in progress | 3 | €10,735 | €8,456 | -€2,279 | -21.2% |
| Stocks | 30/36 | €10,735 | €8,456 | -€2,279 | -21.2% |
| Amounts receivable within one year | 40/41 | €2,168 | €6,224 | +€4,056 | +187% |
| Trade receivables | 40 | - | €1,851 | +€1,851 | |
| Other amounts receivable | 41 | €2,168 | €4,373 | +€2,205 | +102% |
| Cash at bank and in hand | 54/58 | €3,575 | €9,159 | +€5,584 | +156% |
| Deferred charges and accrued income | 490/1 | €1,206 | - | -€1,206 | |
| Total equity and liabilities | 10/49 | €405,265 | €390,979 | -€14,286 | -3.5% |
| Equity | 10/15 | €273,901 | €268,801 | -€5,100 | -1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €255,301 | €255,301 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,289 | €16,289 | = | 0.0% |
| Distributable reserves | 133 | €237,152 | €237,152 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,100 | -€5,100 | |
| Provisions and deferred taxes | 16 | €4,500 | - | -€4,500 | |
| Provisions for liabilities and charges | 160/5 | €4,500 | - | -€4,500 | |
| Major repairs and maintenance | 162 | €4,500 | - | -€4,500 | |
| Amounts payable | 17/49 | €126,864 | €122,178 | -€4,686 | -3.7% |
| Amounts payable after more than one year | 17 | €17,695 | €6,195 | -€11,500 | -65.0% |
| Financial debts | 170/4 | €17,695 | €6,195 | -€11,500 | -65.0% |
| Amounts payable within one year | 42/48 | €109,169 | €115,983 | +€6,814 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | - | €11,500 | +€11,500 | |
| Financial debts | 43 | €35,940 | €36,594 | +€654 | +1.8% |
| Credit institutions | 430/8 | €35,940 | €36,594 | +€654 | +1.8% |
| Trade debts | 44 | €17,795 | €17,011 | -€784 | -4.4% |
| Suppliers | 440/4 | €17,795 | €17,011 | -€784 | -4.4% |
| Taxes, remuneration and social security | 45 | €54,473 | €50,878 | -€3,595 | -6.6% |
| Taxes | 450/3 | €39,290 | €25,537 | -€13,753 | -35.0% |
| Remuneration and social security | 454/9 | €15,183 | €25,341 | +€10,158 | +66.9% |
| Other amounts payable | 47/48 | €961 | - | -€961 | |
| Remuneration, social security and pensions | 62 | €47,165 | €64,070 | +€16,905 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €440 | €441 | +€1 | +0.2% |
| Other operating charges | 640/8 | €360 | €4,036 | +€3,676 | +1,021% |
| Gross operating margin | 9900 | €56,142 | €70,737 | +€14,595 | +26.0% |
| Operating profit (loss) | 9901 | €8,177 | €2,190 | -€5,987 | -73.2% |
| Financial income | 75/76B | €5,775 | €3,743 | -€2,032 | -35.2% |
| Recurring financial income | 75 | €5,775 | €3,743 | -€2,032 | -35.2% |
| Financial charges | 65/66B | €9,442 | €10,668 | +€1,226 | +13.0% |
| Recurring financial charges | 65 | €9,442 | €10,668 | +€1,226 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €4,510 | -€4,735 | -€9,245 | |
| Income taxes | 67/77 | €13 | €365 | +€352 | +2,708% |
| Profit (loss) for the period | 9904 | €4,497 | -€5,100 | -€9,597 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,497 | -€5,100 | -€9,597 |
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 17 October 2026 via checked.be.