STETCO: 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.
STETCO
Largest movements
- Receivables within one year +€51,842
up €51,842 (+89.7%), from €57,768 to €109,610
of which Trade receivables: +€45,878
- Cash -€26,639
down €26,639 (-65.0%), from €40,971 to €14,332
mainly Receivables within one year (-€51,842) and Trade debts (-€29,162)
- Tangible fixed assets +€3,995
up €3,995 (+37.0%), from €10,784 to €14,779
of which Furniture and vehicles: +€3,934
- Reserves +€55,320
up €55,320 (+92.2%), from €59,971 to €115,291
- Trade debts -€29,162
down €29,162 (-71.5%), from €40,770 to €11,608
- Tax, wage and social debts -€8,650
down €8,650 (-69.0%), from €12,541 to €3,891
of which Taxes: -€8,650
- Accrued charges and deferred income +€6,620
up €6,620 (+180%), from €3,670 to €10,290
- Short-term financial debts +€5,000
new in 2025: €5,000
- Depreciation +€2,689
up €2,689 (+62.1%), from €4,328 to €7,018
- Financial charges +€843
up €843 (+400%), from €211 to €1,053
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 | €118,667 | €146,329 | +€27,663 | +23.3% |
| Fixed assets | 21/28 | €12,453 | €15,948 | +€3,495 | +28.1% |
| Intangible fixed assets | 21 | €1,668 | €1,168 | -€500 | -30.0% |
| Tangible fixed assets | 22/27 | €10,784 | €14,779 | +€3,995 | +37.0% |
| Plant, machinery and equipment | 23 | €1,114 | €1,175 | +€61 | +5.5% |
| Furniture and vehicles | 24 | €9,670 | €13,604 | +€3,934 | +40.7% |
| Current assets | 29/58 | €106,214 | €130,382 | +€24,168 | +22.8% |
| Amounts receivable within one year | 40/41 | €57,768 | €109,610 | +€51,842 | +89.7% |
| Trade receivables | 40 | €43,613 | €89,490 | +€45,878 | +105% |
| Other amounts receivable | 41 | €14,155 | €20,120 | +€5,964 | +42.1% |
| Cash at bank and in hand | 54/58 | €40,971 | €14,332 | -€26,639 | -65.0% |
| Deferred charges and accrued income | 490/1 | €7,475 | €6,440 | -€1,035 | -13.9% |
| Total equity and liabilities | 10/49 | €118,667 | €146,329 | +€27,663 | +23.3% |
| Equity | 10/15 | €60,221 | €115,541 | +€55,320 | +91.9% |
| Contributions | 10/11 | €250 | €250 | = | 0.0% |
| Reserves | 13 | €59,971 | €115,291 | +€55,320 | +92.2% |
| Distributable reserves | 133 | €59,971 | €115,291 | +€55,320 | +92.2% |
| Amounts payable | 17/49 | €58,445 | €30,788 | -€27,657 | -47.3% |
| Amounts payable within one year | 42/48 | €54,775 | €20,498 | -€34,277 | -62.6% |
| Financial debts | 43 | - | €5,000 | +€5,000 | |
| Credit institutions | 430/8 | - | €5,000 | +€5,000 | |
| Trade debts | 44 | €40,770 | €11,608 | -€29,162 | -71.5% |
| Suppliers | 440/4 | €40,770 | €11,608 | -€29,162 | -71.5% |
| Taxes, remuneration and social security | 45 | €12,541 | €3,891 | -€8,650 | -69.0% |
| Taxes | 450/3 | €11,041 | €2,391 | -€8,650 | -78.3% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €1,464 | - | -€1,464 | |
| Accrued charges and deferred income | 492/3 | €3,670 | €10,290 | +€6,620 | +180% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,328 | €7,018 | +€2,689 | +62.1% |
| Other operating charges | 640/8 | €1,321 | €1,743 | +€422 | +32.0% |
| Gross operating margin | 9900 | €78,888 | €79,504 | +€616 | +0.8% |
| Operating profit (loss) | 9901 | €73,239 | €70,743 | -€2,496 | -3.4% |
| Financial income | 75/76B | €150 | €218 | +€68 | +45.4% |
| Recurring financial income | 75 | €150 | €218 | +€68 | +45.4% |
| Financial charges | 65/66B | €211 | €1,053 | +€843 | +400% |
| Recurring financial charges | 65 | €211 | €1,053 | +€843 | +400% |
| Profit (loss) for the period before taxes | 9903 | €73,179 | €69,908 | -€3,271 | -4.5% |
| Income taxes | 67/77 | €15,012 | €14,588 | -€424 | -2.8% |
| Profit (loss) for the period | 9904 | €58,167 | €55,320 | -€2,847 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,167 | €55,320 | -€2,847 | -4.9% |
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.