STEPPE: 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
STEPPE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€218
2024 · -€8,825+€8,608
Equity
€226,486
2024 · €226,704-€218
Cash
€23,739
2024 · €947+€22,792
Balance sheet total
€1.6m
2024 · €1.7m-€10,143
Largest movements
Assets
- Tangible fixed assets -€31,973
down €31,973 (-1.9%), from €1.6m to €1.6m
- Cash +€22,792
up €22,792 (+2407.6%), from €947 to €23,739
mainly Other debts (+€88,854) and Depreciation (+€68,237)
Equity and liabilities
- Debts after one year -€114,233
down €114,233 (-12.8%), from €890,048 to €775,815
- Other debts +€88,854
up €88,854 (+34.9%), from €254,234 to €343,088
- Current portion of long-term debt +€21,444
up €21,444 (+15.8%), from €135,846 to €157,290
Income statement
- Gross operating margin +€27,804
up €27,804 (+35.9%), from €77,499 to €105,303
- Financial charges +€9,395
up €9,395 (+47.0%), from €19,981 to €29,376
- Depreciation +€8,950
up €8,950 (+15.1%), from €59,288 to €68,237
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.
Result 2024
-€8,825
Gross operating margin
+€27,804
Depreciation
-€8,950
Other operating charges
-€852
Financial charges
-€9,395
Result 2025
-€218
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.
From operations
+€151,795
Investment
-€36,264
Financing
-€92,738
Cash 2024
€947
From operations (derived)
+€151,795
Net result for the year
-€218
Depreciation
+€68,237
Receivables within one year
+€962
Provisions
-€4,829
Trade debts
-€1,211
Other debts
+€88,854
Accrued charges and deferred income
+€0
Investment (derived)
-€36,264
Investment in fixed assets (net)
-€36,264
Financing
-€92,738
Debts after one year
-€114,233
Current portion of long-term debt
+€21,444
Short-term financial debts
+€50
Cash 2025
€23,739
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,650,970 | €1,640,827 | -€10,143 | -0.6% |
| Fixed assets | 21/28 | €1,647,371 | €1,615,397 | -€31,973 | -1.9% |
| Tangible fixed assets | 22/27 | €1,647,371 | €1,615,397 | -€31,973 | -1.9% |
| Land and buildings | 22 | €1,647,371 | €1,615,397 | -€31,973 | -1.9% |
| Current assets | 29/58 | €3,599 | €25,430 | +€21,830 | +606.5% |
| Amounts receivable within one year | 40/41 | €1,561 | €599 | -€962 | -61.6% |
| Trade receivables | 40 | €1,561 | €87 | -€1,474 | -94.4% |
| Other amounts receivable | 41 | - | €512 | +€512 | |
| Cash at bank and in hand | 54/58 | €947 | €23,739 | +€22,792 | +2407.6% |
| Deferred charges and accrued income | 490/1 | €1,091 | €1,091 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,650,970 | €1,640,827 | -€10,143 | -0.6% |
| Equity | 10/15 | €226,704 | €226,486 | -€218 | -0.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €354,536 | €340,048 | -€14,488 | -4.1% |
| Non-distributable reserves | 130/1 | €2,015 | €2,015 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,015 | €2,015 | = | 0.0% |
| Tax-exempt reserves | 132 | €347,709 | €333,221 | -€14,488 | -4.2% |
| Distributable reserves | 133 | €4,811 | €4,811 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€146,424 | -€132,154 | +€14,270 | +9.7% |
| Provisions and deferred taxes | 16 | €115,903 | €111,074 | -€4,829 | -4.2% |
| Deferred taxes | 168 | €115,903 | €111,074 | -€4,829 | -4.2% |
| Amounts payable | 17/49 | €1,308,363 | €1,303,267 | -€5,096 | -0.4% |
| Amounts payable after more than one year | 17 | €890,048 | €775,815 | -€114,233 | -12.8% |
| Financial debts | 170/4 | €890,048 | €775,815 | -€114,233 | -12.8% |
| Amounts payable within one year | 42/48 | €404,221 | €513,358 | +€109,136 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | €135,846 | €157,290 | +€21,444 | +15.8% |
| Financial debts | 43 | - | €50 | +€50 | |
| Credit institutions | 430/8 | - | €50 | +€50 | |
| Trade debts | 44 | €1,561 | €350 | -€1,211 | -77.6% |
| Suppliers | 440/4 | €1,561 | €350 | -€1,211 | -77.6% |
| Taxes, remuneration and social security | 45 | €12,580 | €12,580 | = | 0.0% |
| Remuneration and social security | 454/9 | €12,580 | €12,580 | = | 0.0% |
| Other amounts payable | 47/48 | €254,234 | €343,088 | +€88,854 | +34.9% |
| Accrued charges and deferred income | 492/3 | €14,095 | €14,095 | +€0 | 0.0% |
| Non-recurring operating income | 76A | - | €4,511 | +€4,511 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,288 | €68,237 | +€8,950 | +15.1% |
| Other operating charges | 640/8 | €11,885 | €12,737 | +€852 | +7.2% |
| Gross operating margin | 9900 | €77,499 | €105,303 | +€27,804 | +35.9% |
| Operating profit (loss) | 9901 | €6,327 | €24,329 | +€18,003 | +284.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €19,981 | €29,376 | +€9,395 | +47.0% |
| Recurring financial charges | 65 | €19,981 | €29,376 | +€9,395 | +47.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,655 | -€5,047 | +€8,608 | +63.0% |
| Transfer from deferred taxes | 780 | €4,829 | €4,829 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€8,825 | -€218 | +€8,608 | +97.5% |
| Transfer from tax-exempt reserves | 789 | €14,488 | €14,488 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,663 | €14,270 | +€8,608 | +152.0% |
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.