STESSENS JOHAN: 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 JOHAN
Largest movements
- Current investments +€850,000
new in 2025: €850,000
- Receivables within one year -€267,948
down €267,948 (-98.1%), from €273,042 to €5,094
of which Other amounts receivable: -€272,106
- Cash -€57,518
down €57,518 (-30.8%), from €186,789 to €129,271
mainly Contributions, distributions and other (-€1.2m) and Current investments (-€850,000)
- Other debts +€518,156
up €518,156 (+77.9%), from €665,040 to €1.2m
- Short-term financial debts +€18,924
new in 2025: €18,924
- Financial income +€298,955
up €298,955 (+49.9%), from €599,380 to €898,335
- Gross operating margin +€83,264
up €83,264 (+29.3%), from €284,527 to €367,791
- Taxes +€6,971
up €6,971 (+8.9%), from €78,542 to €85,513
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 | €1,344,929 | €1,868,982 | +€524,052 | +39.0% |
| Fixed assets | 21/28 | €885,098 | €883,622 | -€1,476 | -0.2% |
| Tangible fixed assets | 22/27 | €210,098 | €208,622 | -€1,476 | -0.7% |
| Land and buildings | 22 | €202,418 | €198,420 | -€3,997 | -2.0% |
| Plant, machinery and equipment | 23 | €6,027 | €9,591 | +€3,564 | +59.1% |
| Furniture and vehicles | 24 | €1,653 | €611 | -€1,042 | -63.0% |
| Financial fixed assets | 28 | €675,000 | €675,000 | = | 0.0% |
| Current assets | 29/58 | €459,831 | €985,359 | +€525,528 | +114% |
| Amounts receivable within one year | 40/41 | €273,042 | €5,094 | -€267,948 | -98.1% |
| Trade receivables | 40 | €405 | €4,563 | +€4,158 | +1,026% |
| Other amounts receivable | 41 | €272,636 | €530 | -€272,106 | -99.8% |
| Current investments | 50/53 | - | €850,000 | +€850,000 | |
| Cash at bank and in hand | 54/58 | €186,789 | €129,271 | -€57,518 | -30.8% |
| Deferred charges and accrued income | 490/1 | €0 | €994 | +€994 | |
| Total equity and liabilities | 10/49 | €1,344,929 | €1,868,982 | +€524,052 | +39.0% |
| Equity | 10/15 | €498,330 | €498,330 | = | 0.0% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €460,830 | €460,830 | = | 0.0% |
| Distributable reserves | 133 | €460,830 | €460,830 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €846,599 | €1,370,651 | +€524,052 | +61.9% |
| Amounts payable after more than one year | 17 | €118,503 | €106,568 | -€11,936 | -10.1% |
| Financial debts | 170/4 | €118,503 | €106,568 | -€11,936 | -10.1% |
| Amounts payable within one year | 42/48 | €726,096 | €1,262,084 | +€535,988 | +73.8% |
| Current portion of amounts payable after more than one year | 42 | €11,814 | €11,936 | +€122 | +1.0% |
| Financial debts | 43 | - | €18,924 | +€18,924 | |
| Credit institutions | 430/8 | - | €18,924 | +€18,924 | |
| Trade debts | 44 | €985 | €4,453 | +€3,468 | +352% |
| Suppliers | 440/4 | €985 | €4,453 | +€3,468 | +352% |
| Taxes, remuneration and social security | 45 | €48,257 | €43,576 | -€4,682 | -9.7% |
| Taxes | 450/3 | €48,257 | €43,576 | -€4,682 | -9.7% |
| Other amounts payable | 47/48 | €665,040 | €1,183,195 | +€518,156 | +77.9% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €1,443 | €777 | -€667 | -46.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,861 | €5,333 | -€528 | -9.0% |
| Other operating charges | 640/8 | €1,612 | €1,662 | +€50 | +3.1% |
| Gross operating margin | 9900 | €284,527 | €367,791 | +€83,264 | +29.3% |
| Operating profit (loss) | 9901 | €275,610 | €360,019 | +€84,409 | +30.6% |
| Financial income | 75/76B | €599,380 | €898,335 | +€298,955 | +49.9% |
| Recurring financial income | 75 | €599,380 | €898,335 | +€298,955 | +49.9% |
| Financial charges | 65/66B | €1,590 | €2,265 | +€675 | +42.4% |
| Recurring financial charges | 65 | €1,590 | €2,265 | +€675 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €873,401 | €1,256,089 | +€382,689 | +43.8% |
| Income taxes | 67/77 | €78,542 | €85,513 | +€6,971 | +8.9% |
| Profit (loss) for the period | 9904 | €794,858 | €1,170,576 | +€375,718 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €794,858 | €1,170,576 | +€375,718 | +47.3% |
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 19 October 2026 via checked.be.