STEPS INVEST: what changed
What changed
STEPS INVEST
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€248,800
2024 · -€265+€249,065
Equity
€422,060
2024 · €173,260+€248,800
Cash
€410,873
2024 · €552,901-€142,028
Balance sheet total
€19.8m
2024 · €16.2m+€3.6m
Largest movements
Assets
- Financial fixed assets +€1.4m
up €1.4m (+31.7%), from €4.5m to €5.9m
- Stocks and contracts +€1.4m
up €1.4m (+101%), from €1.4m to €2.7m
- Receivables within one year +€615,141
up €615,141 (+26.6%), from €2.3m to €2.9m
of which Other amounts receivable: +€496,150
- Tangible fixed assets +€344,944
up €344,944 (+4.6%), from €7.5m to €7.9m
of which Land and buildings: +€676,382
Equity and liabilities
- Other debts +€1.9m
up €1.9m (+38.2%), from €4.9m to €6.7m
- Debts after one year +€1.4m
up €1.4m (+87.0%), from €1.7m to €3.1m
of which Other amounts payable: +€1.5m
- Trade debts -€307,204
down €307,204 (-97.2%), from €315,902 to €8,698
- Short-term financial debts +€300,000
up €300,000 (+3.4%), from €8.7m to €9.0m
- Profit (loss) carried forward +€248,800
up €248,800 (+163%), from €152,800 to €401,600
Income statement
- Gross operating margin +€179,881
up €179,881 (+22.7%), from €793,150 to €973,031
- Financial charges +€56,235
up €56,235 (+60.7%), from €92,682 to €148,917
- Financial income -€49,019
down €49,019 (-33.3%), from €147,399 to €98,380
- Depreciation +€34,610
up €34,610 (+7.9%), from €436,479 to €471,089
- Other operating charges -€30,265
down €30,265 (-13.0%), from €232,869 to €202,604
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€265
Gross operating margin
+€179,881
Depreciation
-€34,610
Other operating charges
+€30,265
Other operating items
+€178,784
Financial income
-€49,019
Financial charges
-€56,235
Result 2025
€248,800
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€369,935
Investment
-€2.2m
Financing
+€1.7m
Cash 2024
€552,901
From operations (derived)
+€369,935
Net result for the year
+€248,800
Depreciation
+€471,089
Stocks and contracts
-€1.4m
Receivables within one year
-€615,141
Smaller working-capital items
+€1,281
Trade debts
-€307,204
Advances received
+€77,000
Other debts
+€1.9m
Accrued charges and deferred income
-€12,010
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€2.2m
Financing
+€1.7m
Debts after one year
+€1.4m
Current portion of long-term debt
-€20,038
Short-term financial debts
+€300,000
Cash 2025
€410,873
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,194,270 | €19,781,065 | +€3.6m | +22.1% |
| Fixed assets | 21/28 | €11,977,103 | €13,734,922 | +€1.8m | +14.7% |
| Tangible fixed assets | 22/27 | €7,521,254 | €7,866,197 | +€344,944 | +4.6% |
| Land and buildings | 22 | €5,939,173 | €6,615,555 | +€676,382 | +11.4% |
| Assets under construction and advance payments | 27 | €1,582,081 | €1,250,642 | -€331,438 | -20.9% |
| Financial fixed assets | 28 | €4,455,849 | €5,868,724 | +€1.4m | +31.7% |
| Current assets | 29/58 | €4,217,167 | €6,046,144 | +€1.8m | +43.4% |
| Stocks and contracts in progress | 3 | €1,350,259 | €2,709,801 | +€1.4m | +101% |
| Stocks | 30/36 | €1,350,259 | €2,709,801 | +€1.4m | +101% |
| Amounts receivable within one year | 40/41 | €2,310,328 | €2,925,469 | +€615,141 | +26.6% |
| Trade receivables | 40 | €142,421 | €261,413 | +€118,992 | +83.5% |
| Other amounts receivable | 41 | €2,167,907 | €2,664,056 | +€496,150 | +22.9% |
| Cash at bank and in hand | 54/58 | €552,901 | €410,873 | -€142,028 | -25.7% |
| Deferred charges and accrued income | 490/1 | €3,679 | - | -€3,679 | |
| Total equity and liabilities | 10/49 | €16,194,270 | €19,781,065 | +€3.6m | +22.1% |
| Equity | 10/15 | €173,260 | €422,060 | +€248,800 | +144% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,800 | €401,600 | +€248,800 | +163% |
| Amounts payable | 17/49 | €16,021,010 | €19,359,005 | +€3.3m | +20.8% |
| Amounts payable after more than one year | 17 | €1,651,686 | €3,088,668 | +€1.4m | +87.0% |
| Financial debts | 170/4 | €137,250 | €123,750 | -€13,500 | -9.8% |
| Other amounts payable | 178/9 | €1,514,436 | €2,964,918 | +€1.5m | +95.8% |
| Amounts payable within one year | 42/48 | €14,240,250 | €16,153,273 | +€1.9m | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €33,538 | €13,500 | -€20,038 | -59.7% |
| Financial debts | 43 | €8,732,519 | €9,032,519 | +€300,000 | +3.4% |
| Credit institutions | 430/8 | €8,732,519 | €9,032,519 | +€300,000 | +3.4% |
| Trade debts | 44 | €315,902 | €8,698 | -€307,204 | -97.2% |
| Suppliers | 440/4 | €315,902 | €8,698 | -€307,204 | -97.2% |
| Advances received on contracts in progress | 46 | €274,500 | €351,500 | +€77,000 | +28.1% |
| Taxes, remuneration and social security | 45 | €2,398 | - | -€2,398 | |
| Taxes | 450/3 | €2,398 | - | -€2,398 | |
| Other amounts payable | 47/48 | €4,881,393 | €6,747,056 | +€1.9m | +38.2% |
| Accrued charges and deferred income | 492/3 | €129,074 | €117,063 | -€12,010 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €436,479 | €471,089 | +€34,610 | +7.9% |
| Other operating charges | 640/8 | €232,869 | €202,604 | -€30,265 | -13.0% |
| Non-recurring operating charges | 66A | €178,784 | - | -€178,784 | |
| Gross operating margin | 9900 | €793,150 | €973,031 | +€179,881 | +22.7% |
| Operating profit (loss) | 9901 | -€54,982 | €299,338 | +€354,320 | |
| Financial income | 75/76B | €147,399 | €98,380 | -€49,019 | -33.3% |
| Recurring financial income | 75 | €147,399 | €98,380 | -€49,019 | -33.3% |
| Financial charges | 65/66B | €92,682 | €148,917 | +€56,235 | +60.7% |
| Recurring financial charges | 65 | €92,682 | €148,917 | +€56,235 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | -€265 | €248,800 | +€249,065 | |
| Profit (loss) for the period | 9904 | -€265 | €248,800 | +€249,065 | |
| Profit (loss) for the period to be appropriated | 9905 | -€265 | €248,800 | +€249,065 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.