STEPS MANAGEMENT: 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.
STEPS MANAGEMENT
Largest movements
- Cash -€61,430
down €61,430 (-24.0%), from €256,026 to €194,596
mainly Net result for the year (-€46,659) and Receivables within one year (-€19,587)
- Receivables within one year +€19,587
up €19,587 (+37.8%), from €51,821 to €71,408
of which Other amounts receivable: +€19,587
- Tangible fixed assets -€12,687
down €12,687 (-55.3%), from €22,927 to €10,240
of which Furniture and vehicles: -€10,024
- Reserves -€46,659
down €46,659 (-15.9%), from €293,996 to €247,337
- Other debts -€10,151
no longer reported in 2025 (was €10,151)
- Gross operating margin -€24,425
down €24,425 (-1,497%), from -€1,632 to -€26,057
- Other operating charges +€2,756
up €2,756 (+67.4%), from €4,087 to €6,843
- Financial income +€501
up €501 (+12,519%), from €4 to €505
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 | €331,363 | €276,929 | -€54,434 | -16.4% |
| Fixed assets | 21/28 | €22,927 | €10,240 | -€12,687 | -55.3% |
| Tangible fixed assets | 22/27 | €22,927 | €10,240 | -€12,687 | -55.3% |
| Plant, machinery and equipment | 23 | €6,956 | €5,159 | -€1,797 | -25.8% |
| Furniture and vehicles | 24 | €15,105 | €5,081 | -€10,024 | -66.4% |
| Other tangible fixed assets | 26 | €866 | - | -€866 | |
| Current assets | 29/58 | €308,436 | €266,689 | -€41,747 | -13.5% |
| Amounts receivable within one year | 40/41 | €51,821 | €71,408 | +€19,587 | +37.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €51,821 | €71,408 | +€19,587 | +37.8% |
| Cash at bank and in hand | 54/58 | €256,026 | €194,596 | -€61,430 | -24.0% |
| Deferred charges and accrued income | 490/1 | €589 | €685 | +€96 | +16.3% |
| Total equity and liabilities | 10/49 | €331,363 | €276,929 | -€54,434 | -16.4% |
| Equity | 10/15 | €318,996 | €272,337 | -€46,659 | -14.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €293,996 | €247,337 | -€46,659 | -15.9% |
| Distributable reserves | 133 | €293,996 | €247,337 | -€46,659 | -15.9% |
| Amounts payable | 17/49 | €12,367 | €4,592 | -€7,775 | -62.9% |
| Amounts payable within one year | 42/48 | €10,767 | €3,167 | -€7,600 | -70.6% |
| Trade debts | 44 | €376 | €2,891 | +€2,515 | +669% |
| Suppliers | 440/4 | €376 | €2,891 | +€2,515 | +669% |
| Taxes, remuneration and social security | 45 | €240 | €276 | +€36 | +14.9% |
| Taxes | 450/3 | €240 | €276 | +€36 | +14.9% |
| Other amounts payable | 47/48 | €10,151 | - | -€10,151 | |
| Accrued charges and deferred income | 492/3 | €1,600 | €1,425 | -€175 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,410 | €13,372 | -€38 | -0.3% |
| Other operating charges | 640/8 | €4,087 | €6,843 | +€2,756 | +67.4% |
| Gross operating margin | 9900 | -€1,632 | -€26,057 | -€24,425 | -1,497% |
| Operating profit (loss) | 9901 | -€19,129 | -€46,272 | -€27,144 | -142% |
| Financial income | 75/76B | €4 | €505 | +€501 | +12,519% |
| Recurring financial income | 75 | €4 | €505 | +€501 | +12,519% |
| Financial charges | 65/66B | €362 | €584 | +€222 | +61.3% |
| Recurring financial charges | 65 | €362 | €584 | +€222 | +61.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,487 | -€46,352 | -€26,865 | -138% |
| Income taxes | 67/77 | €75 | €307 | +€231 | +307% |
| Profit (loss) for the period | 9904 | -€19,562 | -€46,659 | -€27,096 | -139% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,562 | -€46,659 | -€27,096 | -139% |
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 23 October 2026 via checked.be.