STES: 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.
STES
Largest movements
- Cash +€28,131
up €28,131 (+141.7%), from €19,856 to €47,987
mainly Net result for the year (+€46,702) and Tax, wage and social debts (+€7,295)
- Receivables within one year +€4,616
up €4,616 (+5.6%), from €82,330 to €86,946
of which Other amounts receivable: +€4,506
- Tangible fixed assets -€3,465
down €3,465 (-25.3%), from €13,679 to €10,214
- Deferred charges and accrued income -€3,397
down €3,397 (-61.8%), from €5,492 to €2,096
- Reserves +€18,804
up €18,804 (+19.8%), from €95,149 to €113,953
- Profit (loss) carried forward +€18,156
up €18,156, from -€18,156 to €0
- Other debts -€11,993
down €11,993 (-100.0%), from €11,993 to €0
- Current portion of long-term debt -€7,655
down €7,655 (-100.0%), from €7,655 to €0
- Tax, wage and social debts +€7,295
up €7,295 (+91.7%), from €7,956 to €15,251
- Other operating charges -€42,750
down €42,750 (-98.0%), from €43,619 to €870
- Gross operating margin +€36,104
up €36,104 (+105.1%), from €34,366 to €70,470
- Taxes +€14,603
up €14,603 (+196.7%), from €7,424 to €22,027
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,105 | €149,841 | +€24,736 | +19.8% |
| Fixed assets | 21/28 | €17,427 | €12,812 | -€4,615 | -26.5% |
| Intangible fixed assets | 21 | €3,748 | €2,598 | -€1,150 | -30.7% |
| Tangible fixed assets | 22/27 | €13,679 | €10,214 | -€3,465 | -25.3% |
| Furniture and vehicles | 24 | €13,679 | €10,214 | -€3,465 | -25.3% |
| Current assets | 29/58 | €107,678 | €137,029 | +€29,350 | +27.3% |
| Amounts receivable within one year | 40/41 | €82,330 | €86,946 | +€4,616 | +5.6% |
| Trade receivables | 40 | €9,108 | €9,218 | +€110 | +1.2% |
| Other amounts receivable | 41 | €73,222 | €77,728 | +€4,506 | +6.2% |
| Cash at bank and in hand | 54/58 | €19,856 | €47,987 | +€28,131 | +141.7% |
| Deferred charges and accrued income | 490/1 | €5,492 | €2,096 | -€3,397 | -61.8% |
| Total equity and liabilities | 10/49 | €125,105 | €149,841 | +€24,736 | +19.8% |
| Equity | 10/15 | €95,593 | €132,553 | +€36,960 | +38.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €95,149 | €113,953 | +€18,804 | +19.8% |
| Distributable reserves | 133 | €95,149 | €113,953 | +€18,804 | +19.8% |
| Profit (loss) carried forward | 14 | -€18,156 | €0 | +€18,156 | |
| Amounts payable | 17/49 | €29,512 | €17,288 | -€12,224 | -41.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €29,512 | €17,288 | -€12,224 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €7,655 | €0 | -€7,655 | -100.0% |
| Trade debts | 44 | €1,908 | €2,037 | +€129 | +6.7% |
| Suppliers | 440/4 | €1,908 | €2,037 | +€129 | +6.7% |
| Taxes, remuneration and social security | 45 | €7,956 | €15,251 | +€7,295 | +91.7% |
| Taxes | 450/3 | €7,956 | €15,251 | +€7,295 | +91.7% |
| Other amounts payable | 47/48 | €11,993 | €0 | -€11,993 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,917 | €4,615 | -€302 | -6.1% |
| Other operating charges | 640/8 | €43,619 | €870 | -€42,750 | -98.0% |
| Gross operating margin | 9900 | €34,366 | €70,470 | +€36,104 | +105.1% |
| Operating profit (loss) | 9901 | -€14,170 | €64,985 | +€79,155 | |
| Financial income | 75/76B | €4,115 | €4,048 | -€67 | -1.6% |
| Recurring financial income | 75 | €4,115 | €4,048 | -€67 | -1.6% |
| Financial charges | 65/66B | €677 | €304 | -€372 | -55.0% |
| Recurring financial charges | 65 | €677 | €304 | -€372 | -55.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,732 | €68,729 | +€79,461 | |
| Income taxes | 67/77 | €7,424 | €22,027 | +€14,603 | +196.7% |
| Profit (loss) for the period | 9904 | -€18,156 | €46,702 | +€64,858 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,156 | €46,702 | +€64,858 |
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 29 September 2026 via checked.be.