STEPHEX SERVICE: 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.
STEPHEX SERVICE
Largest movements
- Receivables within one year -€771,417
down €771,417 (-31.0%), from €2.5m to €1.7m
of which Trade receivables: -€1.3m
- Receivables after one year +€301,777
up €301,777 (+4.9%), from €6.2m to €6.5m
- Profit (loss) carried forward -€466,854
down €466,854, from €6,581 to -€460,273
- Trade debts +€399,715
up €399,715 (+61.8%), from €646,931 to €1.0m
- Debts after one year -€239,208
down €239,208 (-2.9%), from €8.3m to €8.1m
of which Other amounts payable: -€239,208
- Gross operating margin -€505,230
down €505,230 (-63.0%), from €802,012 to €296,782
- Write-downs +€173,630
up €173,630 (+3,413%), from €5,087 to €178,716
- Financial charges -€85,561
down €85,561 (-23.2%), from €368,822 to €283,261
- Staff costs -€68,197
down €68,197 (-11.9%), from €571,389 to €503,192
- Financial income -€57,625
down €57,625 (-20.0%), from €287,686 to €230,061
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 | €9,484,326 | €9,015,022 | -€469,304 | -4.9% |
| Fixed assets | 21/28 | €76,200 | €76,467 | +€267 | +0.3% |
| Tangible fixed assets | 22/27 | €76,200 | €76,467 | +€267 | +0.3% |
| Plant, machinery and equipment | 23 | €19,805 | €17,315 | -€2,490 | -12.6% |
| Furniture and vehicles | 24 | €56,395 | €59,152 | +€2,757 | +4.9% |
| Current assets | 29/58 | €9,408,126 | €8,938,555 | -€469,571 | -5.0% |
| Amounts receivable after more than one year | 29 | €6,180,674 | €6,482,451 | +€301,777 | +4.9% |
| Other amounts receivable | 291 | €6,180,674 | €6,482,451 | +€301,777 | +4.9% |
| Stocks and contracts in progress | 3 | €727,360 | €732,643 | +€5,282 | +0.7% |
| Stocks | 30/36 | €727,360 | €732,643 | +€5,282 | +0.7% |
| Amounts receivable within one year | 40/41 | €2,492,108 | €1,720,692 | -€771,417 | -31.0% |
| Trade receivables | 40 | €2,186,010 | €891,648 | -€1.3m | -59.2% |
| Other amounts receivable | 41 | €306,098 | €829,044 | +€522,945 | +171% |
| Cash at bank and in hand | 54/58 | €7,983 | €2,769 | -€5,214 | -65.3% |
| Total equity and liabilities | 10/49 | €9,484,326 | €9,015,022 | -€469,304 | -4.9% |
| Equity | 10/15 | €61,432 | -€405,422 | -€466,854 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €48,651 | €48,651 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,651 | €48,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,581 | -€460,273 | -€466,854 | |
| Amounts payable | 17/49 | €9,422,894 | €9,420,444 | -€2,450 | 0.0% |
| Amounts payable after more than one year | 17 | €8,295,980 | €8,056,772 | -€239,208 | -2.9% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €8,295,980 | €8,056,772 | -€239,208 | -2.9% |
| Amounts payable within one year | 42/48 | €1,126,914 | €1,363,672 | +€236,758 | +21.0% |
| Trade debts | 44 | €646,931 | €1,046,646 | +€399,715 | +61.8% |
| Suppliers | 440/4 | €646,931 | €1,046,646 | +€399,715 | +61.8% |
| Taxes, remuneration and social security | 45 | €117,756 | €38,124 | -€79,632 | -67.6% |
| Taxes | 450/3 | €78,090 | €252 | -€77,838 | -99.7% |
| Remuneration and social security | 454/9 | €39,667 | €37,872 | -€1,795 | -4.5% |
| Other amounts payable | 47/48 | €362,227 | €278,902 | -€83,325 | -23.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €571,389 | €503,192 | -€68,197 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,082 | €17,691 | -€3,391 | -16.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,087 | €178,716 | +€173,630 | +3,413% |
| Other operating charges | 640/8 | €16,530 | €10,074 | -€6,456 | -39.1% |
| Non-recurring operating charges | 66A | - | €763 | +€763 | |
| Gross operating margin | 9900 | €802,012 | €296,782 | -€505,230 | -63.0% |
| Operating profit (loss) | 9901 | €187,924 | -€413,654 | -€601,578 | |
| Financial income | 75/76B | €287,686 | €230,061 | -€57,625 | -20.0% |
| Recurring financial income | 75 | €287,686 | €230,061 | -€57,625 | -20.0% |
| Financial charges | 65/66B | €368,822 | €283,261 | -€85,561 | -23.2% |
| Recurring financial charges | 65 | €368,822 | €283,261 | -€85,561 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €106,789 | -€466,854 | -€573,643 | |
| Profit (loss) for the period | 9904 | €106,789 | -€466,854 | -€573,643 | |
| Profit (loss) for the period to be appropriated | 9905 | €106,789 | -€466,854 | -€573,643 |
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 15 October 2026 via checked.be.