STEPP: 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.
STEPP
Largest movements
- Receivables within one year -€74,358
down €74,358 (-71.7%), from €103,662 to €29,304
of which Other amounts receivable: -€64,481
- Cash -€55,537
down €55,537 (-51.1%), from €108,603 to €53,066
mainly Contributions, distributions and other (-€187,022) and Investment in fixed assets (net) (-€10,425)
- Tangible fixed assets -€2,749
down €2,749 (-8.0%), from €34,417 to €31,668
of which Furniture and vehicles: -€2,392
- Reserves -€112,872
down €112,872 (-86.9%), from €129,872 to €17,000
of which Distributable reserves: -€112,872
- Profit (loss) carried forward -€34,225
down €34,225 (-46.2%), from €74,150 to €39,925
- Other debts +€12,318
up €12,318 (+506%), from €2,436 to €14,754
- Debts after one year +€6,366
new in 2025: €6,366
- Tax, wage and social debts -€5,807
down €5,807 (-57.4%), from €10,120 to €4,313
- Financial income -€316,992
down €316,992 (-99.8%), from €317,674 to €682
of which Non-recurring financial income: -€315,719
- Taxes -€65,351
down €65,351 (-81.9%), from €79,795 to €14,444
- Other operating charges -€48,077
down €48,077 (-94.1%), from €51,087 to €3,010
- Depreciation +€8,786
up €8,786 (+192%), from €4,583 to €13,369
- Gross operating margin +€5,113
up €5,113 (+7.7%), from €66,040 to €71,153
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 | €247,267 | €115,067 | -€132,200 | -53.5% |
| Formation expenses | 20 | €585 | €390 | -€195 | -33.3% |
| Fixed assets | 21/28 | €34,417 | €31,668 | -€2,749 | -8.0% |
| Tangible fixed assets | 22/27 | €34,417 | €31,668 | -€2,749 | -8.0% |
| Plant, machinery and equipment | 23 | €1,161 | €803 | -€357 | -30.8% |
| Furniture and vehicles | 24 | €33,257 | €30,865 | -€2,392 | -7.2% |
| Current assets | 29/58 | €212,265 | €83,009 | -€129,256 | -60.9% |
| Amounts receivable within one year | 40/41 | €103,662 | €29,304 | -€74,358 | -71.7% |
| Trade receivables | 40 | €27,735 | €17,858 | -€9,877 | -35.6% |
| Other amounts receivable | 41 | €75,927 | €11,445 | -€64,481 | -84.9% |
| Cash at bank and in hand | 54/58 | €108,603 | €53,066 | -€55,537 | -51.1% |
| Deferred charges and accrued income | 490/1 | - | €639 | +€639 | |
| Total equity and liabilities | 10/49 | €247,267 | €115,067 | -€132,200 | -53.5% |
| Equity | 10/15 | €222,622 | €75,525 | -€147,097 | -66.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €129,872 | €17,000 | -€112,872 | -86.9% |
| Tax-exempt reserves | 132 | €17,000 | €17,000 | = | 0.0% |
| Distributable reserves | 133 | €112,872 | - | -€112,872 | |
| Profit (loss) carried forward | 14 | €74,150 | €39,925 | -€34,225 | -46.2% |
| Amounts payable | 17/49 | €24,645 | €39,542 | +€14,897 | +60.4% |
| Amounts payable after more than one year | 17 | - | €6,366 | +€6,366 | |
| Financial debts | 170/4 | - | €6,366 | +€6,366 | |
| Amounts payable within one year | 42/48 | €24,645 | €33,176 | +€8,531 | +34.6% |
| Current portion of amounts payable after more than one year | 42 | - | €2,472 | +€2,472 | |
| Trade debts | 44 | €12,089 | €11,637 | -€452 | -3.7% |
| Suppliers | 440/4 | €12,089 | €11,637 | -€452 | -3.7% |
| Taxes, remuneration and social security | 45 | €10,120 | €4,313 | -€5,807 | -57.4% |
| Taxes | 450/3 | €10,120 | €4,313 | -€5,807 | -57.4% |
| Other amounts payable | 47/48 | €2,436 | €14,754 | +€12,318 | +506% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,583 | €13,369 | +€8,786 | +192% |
| Other operating charges | 640/8 | €51,087 | €3,010 | -€48,077 | -94.1% |
| Gross operating margin | 9900 | €66,040 | €71,153 | +€5,113 | +7.7% |
| Operating profit (loss) | 9901 | €10,370 | €54,774 | +€44,404 | +428% |
| Financial income | 75/76B | €317,674 | €682 | -€316,992 | -99.8% |
| Recurring financial income | 75 | €1,955 | €682 | -€1,273 | -65.1% |
| Non-recurring financial income | 76B | €315,719 | - | -€315,719 | |
| Financial charges | 65/66B | €5,807 | €1,087 | -€4,721 | -81.3% |
| Recurring financial charges | 65 | €5,807 | €1,087 | -€4,721 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | €322,236 | €54,369 | -€267,867 | -83.1% |
| Income taxes | 67/77 | €79,795 | €14,444 | -€65,351 | -81.9% |
| Profit (loss) for the period | 9904 | €242,441 | €39,925 | -€202,516 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €242,441 | €39,925 | -€202,516 | -83.5% |
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 13 October 2026 via checked.be.