STEPHINFI: 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.
STEPHINFI
Largest movements
- Receivables within one year +€19,756
up €19,756 (+79.5%), from €24,843 to €44,600
of which Other amounts receivable: +€19,756
- Deferred charges and accrued income -€13,351
down €13,351 (-78.4%), from €17,026 to €3,676
- Cash -€3,588
down €3,588 (-6.4%), from €55,816 to €52,228
mainly Contributions, distributions and other (-€20,812) and Receivables within one year (-€19,756)
- Other debts +€19,772
up €19,772, from €0 to €19,772
- Current portion of long-term debt -€10,667
down €10,667 (-100.0%), from €10,667 to €0
- Reserves -€9,281
down €9,281 (-12.8%), from €72,376 to €63,094
of which Distributable reserves: -€9,281
- Trade debts +€1,830
up €1,830 (+199.8%), from €916 to €2,746
- Gross operating margin -€39,403
down €39,403 (-62.3%), from €63,268 to €23,865
- Taxes -€14,367
down €14,367 (-71.3%), from €20,139 to €5,772
- Financial charges +€3,540
up €3,540 (+702.2%), from €504 to €4,044
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 | €102,282 | €104,976 | +€2,694 | +2.6% |
| Fixed assets | 21/28 | €4,596 | €4,473 | -€123 | -2.7% |
| Tangible fixed assets | 22/27 | €3,596 | €3,473 | -€123 | -3.4% |
| Plant, machinery and equipment | 23 | €1,645 | €762 | -€883 | -53.7% |
| Furniture and vehicles | 24 | €1,951 | €2,710 | +€759 | +38.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €97,686 | €100,503 | +€2,817 | +2.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €24,843 | €44,600 | +€19,756 | +79.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €24,843 | €44,600 | +€19,756 | +79.5% |
| Cash at bank and in hand | 54/58 | €55,816 | €52,228 | -€3,588 | -6.4% |
| Deferred charges and accrued income | 490/1 | €17,026 | €3,676 | -€13,351 | -78.4% |
| Total equity and liabilities | 10/49 | €102,282 | €104,976 | +€2,694 | +2.6% |
| Equity | 10/15 | €78,576 | €69,294 | -€9,281 | -11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €72,376 | €63,094 | -€9,281 | -12.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,516 | €61,234 | -€9,281 | -13.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,706 | €35,681 | +€11,975 | +50.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €23,706 | €35,681 | +€11,975 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | €10,667 | €0 | -€10,667 | -100.0% |
| Trade debts | 44 | €916 | €2,746 | +€1,830 | +199.8% |
| Suppliers | 440/4 | €916 | €2,746 | +€1,830 | +199.8% |
| Taxes, remuneration and social security | 45 | €12,124 | €13,164 | +€1,041 | +8.6% |
| Taxes | 450/3 | €12,124 | €13,164 | +€1,041 | +8.6% |
| Other amounts payable | 47/48 | €0 | €19,772 | +€19,772 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,862 | €1,786 | -€76 | -4.1% |
| Other operating charges | 640/8 | €1,121 | €731 | -€390 | -34.8% |
| Gross operating margin | 9900 | €63,268 | €23,865 | -€39,403 | -62.3% |
| Operating profit (loss) | 9901 | €60,285 | €21,347 | -€38,938 | -64.6% |
| Financial income | 75/76B | €50 | €0 | -€50 | -100.0% |
| Recurring financial income | 75 | €50 | €0 | -€50 | -100.0% |
| Financial charges | 65/66B | €504 | €4,044 | +€3,540 | +702.2% |
| Recurring financial charges | 65 | €504 | €4,044 | +€3,540 | +702.2% |
| Profit (loss) for the period before taxes | 9903 | €59,831 | €17,303 | -€42,528 | -71.1% |
| Income taxes | 67/77 | €20,139 | €5,772 | -€14,367 | -71.3% |
| Profit (loss) for the period | 9904 | €39,693 | €11,531 | -€28,162 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,693 | €11,531 | -€28,162 | -70.9% |
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 2 October 2026 via checked.be.