STEPHI: 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.
STEPHI
Largest movements
- Tangible fixed assets -€5,047
down €5,047 (-3.2%), from €158,863 to €153,817
of which Land and buildings: -€4,897
- Other debts -€5,000
down €5,000 (-2.5%), from €202,915 to €197,915
- Gross operating margin -€3,721
down €3,721 (-28.7%), from €12,944 to €9,223
- Depreciation -€148
down €148 (-2.8%), from €5,195 to €5,047
- Other operating charges +€130
up €130 (+3.1%), from €4,142 to €4,271
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 | €160,034 | €154,750 | -€5,285 | -3.3% |
| Fixed assets | 21/28 | €158,863 | €153,817 | -€5,047 | -3.2% |
| Tangible fixed assets | 22/27 | €158,863 | €153,817 | -€5,047 | -3.2% |
| Land and buildings | 22 | €158,714 | €153,817 | -€4,897 | -3.1% |
| Plant, machinery and equipment | 23 | €150 | €0 | -€150 | -100.0% |
| Current assets | 29/58 | €1,171 | €933 | -€238 | -20.3% |
| Cash at bank and in hand | 54/58 | €677 | €324 | -€353 | -52.2% |
| Deferred charges and accrued income | 490/1 | €494 | €610 | +€115 | +23.4% |
| Total equity and liabilities | 10/49 | €160,034 | €154,750 | -€5,285 | -3.3% |
| Equity | 10/15 | -€42,881 | -€43,165 | -€285 | -0.7% |
| Contributions | 10/11 | €169,500 | €169,500 | = | 0.0% |
| Capital | 10 | €169,500 | €169,500 | = | 0.0% |
| Issued capital | 100 | €169,500 | €169,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€212,381 | -€212,665 | -€285 | -0.1% |
| Amounts payable | 17/49 | €202,915 | €197,915 | -€5,000 | -2.5% |
| Amounts payable within one year | 42/48 | €202,915 | €197,915 | -€5,000 | -2.5% |
| Other amounts payable | 47/48 | €202,915 | €197,915 | -€5,000 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,195 | €5,047 | -€148 | -2.8% |
| Other operating charges | 640/8 | €4,142 | €4,271 | +€130 | +3.1% |
| Gross operating margin | 9900 | €12,944 | €9,223 | -€3,721 | -28.7% |
| Operating profit (loss) | 9901 | €3,608 | -€95 | -€3,703 | |
| Financial charges | 65/66B | €135 | €189 | +€54 | +40.2% |
| Recurring financial charges | 65 | €135 | €189 | +€54 | +40.2% |
| Profit (loss) for the period before taxes | 9903 | €3,473 | -€285 | -€3,757 | |
| Profit (loss) for the period | 9904 | €3,473 | -€285 | -€3,757 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,473 | -€285 | -€3,757 |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.