STESSENS HERMAN: 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.
STESSENS HERMAN
Largest movements
- Receivables within one year -€23,618
down €23,618 (-69.8%), from €33,859 to €10,241
of which Trade receivables: -€21,997
- Cash +€7,912
up €7,912 (+9.4%), from €84,252 to €92,165
mainly Depreciation (+€24,097) and Receivables within one year (+€23,618)
- Tangible fixed assets +€7,903
up €7,903 (+8.8%), from €89,707 to €97,610
of which Furniture and vehicles: +€8,034
- Tax, wage and social debts -€5,609
down €5,609 (-100%), from €5,609 to €0
- Reserves +€4,429
up €4,429 (+5.1%), from €87,411 to €91,840
- Other debts -€3,764
down €3,764 (-18.2%), from €20,682 to €16,918
- Trade debts -€2,859
down €2,859 (-43.2%), from €6,617 to €3,758
- Depreciation -€15,613
down €15,613 (-39.3%), from €39,711 to €24,097
- Gross operating margin -€10,285
down €10,285 (-22.0%), from €46,693 to €36,408
- Taxes +€1,849
up €1,849 (+117%), from €1,586 to €3,435
- Other operating charges +€551
up €551 (+46.2%), from €1,193 to €1,744
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 | €207,818 | €200,016 | -€7,803 | -3.8% |
| Fixed assets | 21/28 | €89,707 | €97,610 | +€7,903 | +8.8% |
| Tangible fixed assets | 22/27 | €89,707 | €97,610 | +€7,903 | +8.8% |
| Plant, machinery and equipment | 23 | €131 | €0 | -€131 | -100% |
| Furniture and vehicles | 24 | €89,577 | €97,610 | +€8,034 | +9.0% |
| Current assets | 29/58 | €118,111 | €102,406 | -€15,705 | -13.3% |
| Amounts receivable within one year | 40/41 | €33,859 | €10,241 | -€23,618 | -69.8% |
| Trade receivables | 40 | €30,239 | €8,243 | -€21,997 | -72.7% |
| Other amounts receivable | 41 | €3,619 | €1,998 | -€1,621 | -44.8% |
| Cash at bank and in hand | 54/58 | €84,252 | €92,165 | +€7,912 | +9.4% |
| Total equity and liabilities | 10/49 | €207,818 | €200,016 | -€7,803 | -3.8% |
| Equity | 10/15 | €174,911 | €179,340 | +€4,429 | +2.5% |
| Contributions | 10/11 | €87,500 | €87,500 | = | 0.0% |
| Reserves | 13 | €87,411 | €91,840 | +€4,429 | +5.1% |
| Distributable reserves | 133 | €87,411 | €91,840 | +€4,429 | +5.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,907 | €20,676 | -€12,232 | -37.2% |
| Amounts payable within one year | 42/48 | €32,907 | €20,676 | -€12,232 | -37.2% |
| Trade debts | 44 | €6,617 | €3,758 | -€2,859 | -43.2% |
| Suppliers | 440/4 | €6,617 | €3,758 | -€2,859 | -43.2% |
| Taxes, remuneration and social security | 45 | €5,609 | €0 | -€5,609 | -100% |
| Taxes | 450/3 | €5,609 | €0 | -€5,609 | -100% |
| Other amounts payable | 47/48 | €20,682 | €16,918 | -€3,764 | -18.2% |
| Remuneration, social security and pensions | 62 | €1,411 | €1,308 | -€102 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,711 | €24,097 | -€15,613 | -39.3% |
| Other operating charges | 640/8 | €1,193 | €1,744 | +€551 | +46.2% |
| Gross operating margin | 9900 | €46,693 | €36,408 | -€10,285 | -22.0% |
| Operating profit (loss) | 9901 | €4,379 | €9,259 | +€4,880 | +111% |
| Financial income | 75/76B | €156 | €347 | +€191 | +122% |
| Recurring financial income | 75 | €156 | €347 | +€191 | +122% |
| Financial charges | 65/66B | €48 | €76 | +€29 | +60.0% |
| Recurring financial charges | 65 | €48 | €76 | +€29 | +60.0% |
| Profit (loss) for the period before taxes | 9903 | €4,487 | €9,530 | +€5,043 | +112% |
| Income taxes | 67/77 | €1,586 | €3,435 | +€1,849 | +117% |
| Profit (loss) for the period | 9904 | €2,901 | €6,095 | +€3,194 | +110% |
| Profit (loss) for the period to be appropriated | 9905 | €2,901 | €6,095 | +€3,194 | +110% |
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 17 October 2026 via checked.be.