STEPHSON: 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.
What changed
STEPHSON
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€20,976
2023 · €20,166+€810
Equity
€1.3m
2023 · €1.3m+€20,976
Cash
€11,186
2023 · €1,712+€9,474
Balance sheet total
€3.4m
2023 · €3.5m-€77,496
Largest movements
Assets
- Tangible fixed assets -€87,879
down €87,879 (-2.6%), from €3.4m to €3.3m
Equity and liabilities
- Debts after one year -€114,941
down €114,941 (-5.6%), from €2.0m to €1.9m
of which Financial debts: -€90,891
Income statement
- Gross operating margin +€3,542
up €3,542 (+2.0%), from €175,020 to €178,561
- Financial charges +€2,641
up €2,641 (+5.3%), from €50,307 to €52,948
From the 2023 result to the 2024 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.
Result 2023
€20,166
Gross operating margin
+€3,542
Other operating charges
-€446
Financial income
+€626
Financial charges
-€2,641
Taxes
-€270
Result 2024
€20,976
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€139,372
Investment
€0
Financing
-€129,898
Cash 2023
€1,712
From operations (derived)
+€139,372
Net result for the year
+€20,976
Depreciation
+€87,879
Receivables within one year
-€953
Smaller working-capital items
+€132
Other debts
+€30,000
Accrued charges and deferred income
+€1,338
Financing
-€129,898
Debts after one year
-€114,941
Current portion of long-term debt
-€14,957
Cash 2024
€11,186
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,487,656 | €3,410,159 | -€77,496 | -2.2% |
| Fixed assets | 21/28 | €3,431,759 | €3,343,880 | -€87,879 | -2.6% |
| Tangible fixed assets | 22/27 | €3,431,759 | €3,343,880 | -€87,879 | -2.6% |
| Land and buildings | 22 | €3,431,759 | €3,343,880 | -€87,879 | -2.6% |
| Current assets | 29/58 | €55,897 | €66,279 | +€10,383 | +18.6% |
| Amounts receivable within one year | 40/41 | €3,550 | €4,504 | +€953 | +26.9% |
| Other amounts receivable | 41 | €3,550 | €4,504 | +€953 | +26.9% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,712 | €11,186 | +€9,474 | +553.5% |
| Deferred charges and accrued income | 490/1 | €635 | €590 | -€45 | -7.1% |
| Total equity and liabilities | 10/49 | €3,487,656 | €3,410,159 | -€77,496 | -2.2% |
| Equity | 10/15 | €1,296,200 | €1,317,177 | +€20,976 | +1.6% |
| Contributions | 10/11 | €997,600 | €997,600 | = | 0.0% |
| Reserves | 13 | €298,600 | €319,576 | +€20,976 | +7.0% |
| Distributable reserves | 133 | €298,600 | €319,576 | +€20,976 | +7.0% |
| Amounts payable | 17/49 | €2,191,455 | €2,092,982 | -€98,473 | -4.5% |
| Amounts payable after more than one year | 17 | €2,049,268 | €1,934,328 | -€114,941 | -5.6% |
| Financial debts | 170/4 | €1,241,118 | €1,150,227 | -€90,891 | -7.3% |
| Other amounts payable | 178/9 | €808,151 | €784,101 | -€24,050 | -3.0% |
| Amounts payable within one year | 42/48 | €134,505 | €149,636 | +€15,130 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €129,898 | €114,941 | -€14,957 | -11.5% |
| Trade debts | 44 | €641 | €728 | +€87 | +13.6% |
| Suppliers | 440/4 | €641 | €728 | +€87 | +13.6% |
| Taxes, remuneration and social security | 45 | €1,200 | €1,200 | = | 0.0% |
| Taxes | 450/3 | €1,200 | €1,200 | = | 0.0% |
| Other amounts payable | 47/48 | €2,767 | €32,767 | +€30,000 | +1084.2% |
| Accrued charges and deferred income | 492/3 | €7,682 | €9,019 | +€1,338 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,879 | €87,879 | = | 0.0% |
| Other operating charges | 640/8 | €10,853 | €11,300 | +€446 | +4.1% |
| Gross operating margin | 9900 | €175,020 | €178,561 | +€3,542 | +2.0% |
| Operating profit (loss) | 9901 | €76,287 | €79,383 | +€3,095 | +4.1% |
| Financial income | 75/76B | €907 | €1,533 | +€626 | +69.1% |
| Recurring financial income | 75 | €907 | €1,533 | +€626 | +69.1% |
| Financial charges | 65/66B | €50,307 | €52,948 | +€2,641 | +5.3% |
| Recurring financial charges | 65 | €50,307 | €52,948 | +€2,641 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €26,888 | €27,968 | +€1,080 | +4.0% |
| Income taxes | 67/77 | €6,722 | €6,992 | +€270 | +4.0% |
| Profit (loss) for the period | 9904 | €20,166 | €20,976 | +€810 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,166 | €20,976 | +€810 | +4.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.