STESA: 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.
STESA
Largest movements
- Receivables within one year -€52,674
down €52,674 (-100.0%), from €52,674 to €0
of which Other amounts receivable: -€34,524
- Cash +€37,487
up €37,487 (+18.0%), from €208,024 to €245,511
mainly Receivables within one year (+€52,674) and Accrued charges and deferred income (+€34,281)
- Current investments +€26,087
up €26,087 (+10.5%), from €248,804 to €274,891
- Debts after one year -€68,406
down €68,406 (-12.8%), from €533,992 to €465,586
- Accrued charges and deferred income +€34,281
up €34,281 (+42.9%), from €79,947 to €114,227
- Reserves +€25,128
up €25,128 (+4.2%), from €595,983 to €621,111
of which Distributable reserves: +€32,564
- Financial charges -€12,428
down €12,428 (-26.5%), from €46,842 to €34,414
- Taxes +€4,664
up €4,664 (+56.3%), from €8,288 to €12,952
- Financial income +€4,368
up €4,368 (+332.0%), from €1,316 to €5,683
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 | €1,302,254 | €1,313,154 | +€10,900 | +0.8% |
| Fixed assets | 21/28 | €792,751 | €792,751 | = | 0.0% |
| Financial fixed assets | 28 | €792,751 | €792,751 | = | 0.0% |
| Current assets | 29/58 | €509,503 | €520,403 | +€10,900 | +2.1% |
| Amounts receivable within one year | 40/41 | €52,674 | €0 | -€52,674 | -100.0% |
| Trade receivables | 40 | €18,150 | €0 | -€18,150 | -100.0% |
| Other amounts receivable | 41 | €34,524 | €0 | -€34,524 | -100.0% |
| Current investments | 50/53 | €248,804 | €274,891 | +€26,087 | +10.5% |
| Cash at bank and in hand | 54/58 | €208,024 | €245,511 | +€37,487 | +18.0% |
| Total equity and liabilities | 10/49 | €1,302,254 | €1,313,154 | +€10,900 | +0.8% |
| Equity | 10/15 | €670,351 | €702,915 | +€32,564 | +4.9% |
| Contributions | 10/11 | €74,368 | €81,805 | +€7,437 | +10.0% |
| Contributions outside capital | 11 | €74,368 | €81,805 | +€7,437 | +10.0% |
| Share premium | 1100/10 | - | €7,437 | +€7,437 | |
| Other | 1109/19 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €595,983 | €621,111 | +€25,128 | +4.2% |
| Non-distributable reserves | 130/1 | €7,437 | - | -€7,437 | |
| Legal reserve | 130 | €7,437 | - | -€7,437 | |
| Distributable reserves | 133 | €588,546 | €621,111 | +€32,564 | +5.5% |
| Amounts payable | 17/49 | €631,903 | €610,238 | -€21,665 | -3.4% |
| Amounts payable after more than one year | 17 | €533,992 | €465,586 | -€68,406 | -12.8% |
| Other amounts payable | 178/9 | €533,992 | €465,586 | -€68,406 | -12.8% |
| Amounts payable within one year | 42/48 | €17,964 | €30,425 | +€12,461 | +69.4% |
| Trade debts | 44 | €899 | €721 | -€178 | -19.8% |
| Suppliers | 440/4 | €899 | €721 | -€178 | -19.8% |
| Taxes, remuneration and social security | 45 | €17,065 | €29,704 | +€12,639 | +74.1% |
| Taxes | 450/3 | €17,065 | €29,704 | +€12,639 | +74.1% |
| Accrued charges and deferred income | 492/3 | €79,947 | €114,227 | +€34,281 | +42.9% |
| Other operating charges | 640/8 | €1,136 | €1,171 | +€35 | +3.0% |
| Gross operating margin | 9900 | €75,465 | €75,417 | -€48 | -0.1% |
| Operating profit (loss) | 9901 | €74,329 | €74,247 | -€82 | -0.1% |
| Financial income | 75/76B | €1,316 | €5,683 | +€4,368 | +332.0% |
| Recurring financial income | 75 | €1,316 | €5,683 | +€4,368 | +332.0% |
| Financial charges | 65/66B | €46,842 | €34,414 | -€12,428 | -26.5% |
| Recurring financial charges | 65 | €46,842 | €34,414 | -€12,428 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €28,803 | €45,516 | +€16,713 | +58.0% |
| Income taxes | 67/77 | €8,288 | €12,952 | +€4,664 | +56.3% |
| Profit (loss) for the period | 9904 | €20,515 | €32,564 | +€12,050 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €20,515 | €32,564 | +€12,050 | +58.7% |
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 12 October 2026 via checked.be.