STEPHIUM: 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.
STEPHIUM
Largest movements
- Cash +€121,074
up €121,074 (+74.0%), from €163,514 to €284,588
mainly Other debts (+€385,978) and Net result for the year (+€304,372)
- Receivables within one year +€16,291
up €16,291 (+4.7%), from €346,709 to €363,000
of which Trade receivables: +€72,600
- Tangible fixed assets -€9,128
down €9,128 (-13.2%), from €69,109 to €59,982
of which Furniture and vehicles: -€9,968
- Other debts +€385,978
up €385,978 (+349%), from €110,676 to €496,653
- Reserves -€385,628
down €385,628 (-82.7%), from €466,069 to €80,442
- Tax, wage and social debts +€128,538
new in 2025: €128,538
- Gross operating margin +€123,353
up €123,353 (+41.7%), from €295,462 to €418,815
- Taxes +€29,417
up €29,417 (+44.0%), from €66,899 to €96,316
- Depreciation +€6,322
up €6,322 (+58.3%), from €10,846 to €17,168
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 | €580,123 | €708,403 | +€128,280 | +22.1% |
| Fixed assets | 21/28 | €69,109 | €59,982 | -€9,128 | -13.2% |
| Tangible fixed assets | 22/27 | €69,109 | €59,982 | -€9,128 | -13.2% |
| Furniture and vehicles | 24 | €59,186 | €49,218 | -€9,968 | -16.8% |
| Other tangible fixed assets | 26 | €9,923 | €10,764 | +€841 | +8.5% |
| Current assets | 29/58 | €511,013 | €648,421 | +€137,408 | +26.9% |
| Amounts receivable within one year | 40/41 | €346,709 | €363,000 | +€16,291 | +4.7% |
| Trade receivables | 40 | €290,400 | €363,000 | +€72,600 | +25.0% |
| Other amounts receivable | 41 | €56,309 | - | -€56,309 | |
| Cash at bank and in hand | 54/58 | €163,514 | €284,588 | +€121,074 | +74.0% |
| Deferred charges and accrued income | 490/1 | €791 | €834 | +€43 | +5.4% |
| Total equity and liabilities | 10/49 | €580,123 | €708,403 | +€128,280 | +22.1% |
| Equity | 10/15 | €468,069 | €82,442 | -€385,628 | -82.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €466,069 | €80,442 | -€385,628 | -82.7% |
| Distributable reserves | 133 | €466,069 | €80,442 | -€385,628 | -82.7% |
| Amounts payable | 17/49 | €112,053 | €625,961 | +€513,908 | +459% |
| Amounts payable within one year | 42/48 | €112,053 | €625,961 | +€513,908 | +459% |
| Trade debts | 44 | €1,378 | €770 | -€608 | -44.1% |
| Suppliers | 440/4 | €1,378 | €770 | -€608 | -44.1% |
| Taxes, remuneration and social security | 45 | - | €128,538 | +€128,538 | |
| Taxes | 450/3 | - | €128,538 | +€128,538 | |
| Other amounts payable | 47/48 | €110,676 | €496,653 | +€385,978 | +349% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,846 | €17,168 | +€6,322 | +58.3% |
| Other operating charges | 640/8 | €392 | €810 | +€418 | +106% |
| Gross operating margin | 9900 | €295,462 | €418,815 | +€123,353 | +41.7% |
| Operating profit (loss) | 9901 | €284,224 | €400,837 | +€116,614 | +41.0% |
| Financial income | 75/76B | €39 | €5 | -€34 | -87.8% |
| Recurring financial income | 75 | €39 | €5 | -€34 | -87.8% |
| Financial charges | 65/66B | €140 | €153 | +€13 | +9.2% |
| Recurring financial charges | 65 | €140 | €153 | +€13 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €284,122 | €400,689 | +€116,567 | +41.0% |
| Income taxes | 67/77 | €66,899 | €96,316 | +€29,417 | +44.0% |
| Profit (loss) for the period | 9904 | €217,223 | €304,372 | +€87,149 | +40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €217,223 | €304,372 | +€87,149 | +40.1% |
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 29 October 2026 via checked.be.