STETO: 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.
STETO
Largest movements
- Cash +€111,559
up €111,559 (+331%), from €33,698 to €145,257
mainly Other debts (+€295,895) and Net result for the year (+€261,380)
- Current investments +€40,045
up €40,045 (+4.1%), from €966,822 to €1.0m
- Receivables within one year +€18,552
new in 2025: €18,552
- Other debts +€295,895
up €295,895 (+367%), from €80,523 to €376,418
- Reserves -€114,632
down €114,632 (-11.6%), from €984,926 to €870,294
of which Distributable reserves: -€114,632
- Financial charges -€66,759
down €66,759 (-95.8%), from €69,689 to €2,930
of which Financial charges: -€67,261
- Provisions +€62,849
no longer reported in 2025 (was -€62,849)
- Gross operating margin +€35,469
up €35,469 (+9.5%), from €372,243 to €407,712
- Taxes +€20,682
up €20,682 (+19.7%), from €105,009 to €125,691
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 | €1,122,520 | €1,300,884 | +€178,364 | +15.9% |
| Fixed assets | 21/28 | €119,661 | €123,614 | +€3,953 | +3.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €119,661 | €123,614 | +€3,953 | +3.3% |
| Land and buildings | 22 | €21,195 | €19,778 | -€1,418 | -6.7% |
| Plant, machinery and equipment | 23 | €7,509 | €13,610 | +€6,101 | +81.3% |
| Furniture and vehicles | 24 | €83,135 | €84,498 | +€1,363 | +1.6% |
| Other tangible fixed assets | 26 | €7,822 | €5,728 | -€2,094 | -26.8% |
| Current assets | 29/58 | €1,002,859 | €1,177,271 | +€174,412 | +17.4% |
| Amounts receivable within one year | 40/41 | - | €18,552 | +€18,552 | |
| Trade receivables | 40 | - | €18,552 | +€18,552 | |
| Current investments | 50/53 | €966,822 | €1,006,867 | +€40,045 | +4.1% |
| Cash at bank and in hand | 54/58 | €33,698 | €145,257 | +€111,559 | +331% |
| Deferred charges and accrued income | 490/1 | €2,338 | €6,593 | +€4,255 | +182% |
| Total equity and liabilities | 10/49 | €1,122,520 | €1,300,884 | +€178,364 | +15.9% |
| Equity | 10/15 | €997,334 | €882,702 | -€114,632 | -11.5% |
| Contributions | 10/11 | €12,408 | €12,408 | = | 0.0% |
| Reserves | 13 | €984,926 | €870,294 | -€114,632 | -11.6% |
| Non-distributable reserves | 130/1 | €35,975 | €35,975 | = | 0.0% |
| Reserves not available under the articles | 1311 | €35,975 | €35,975 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,286 | €18,286 | = | 0.0% |
| Distributable reserves | 133 | €930,664 | €816,032 | -€114,632 | -12.3% |
| Amounts payable | 17/49 | €125,186 | €418,182 | +€292,996 | +234% |
| Amounts payable within one year | 42/48 | €123,102 | €417,104 | +€294,002 | +239% |
| Trade debts | 44 | €30 | €1,524 | +€1,493 | +4,913% |
| Suppliers | 440/4 | €30 | €1,524 | +€1,493 | +4,913% |
| Taxes, remuneration and social security | 45 | €42,548 | €39,162 | -€3,386 | -8.0% |
| Taxes | 450/3 | €42,548 | €39,162 | -€3,386 | -8.0% |
| Other amounts payable | 47/48 | €80,523 | €376,418 | +€295,895 | +367% |
| Accrued charges and deferred income | 492/3 | €2,085 | €1,079 | -€1,006 | -48.2% |
| Non-recurring operating income | 76A | - | €14,539 | +€14,539 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,206 | €12,986 | +€1,779 | +15.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€62,849 | - | +€62,849 | |
| Other operating charges | 640/8 | €2,165 | €2,173 | +€8 | +0.4% |
| Non-recurring operating charges | 66A | €700 | €13,087 | +€12,387 | +1,770% |
| Gross operating margin | 9900 | €372,243 | €407,712 | +€35,469 | +9.5% |
| Operating profit (loss) | 9901 | €421,020 | €379,467 | -€41,554 | -9.9% |
| Financial income | 75/76B | €12,510 | €10,534 | -€1,975 | -15.8% |
| Recurring financial income | 75 | €12,510 | €10,534 | -€1,975 | -15.8% |
| Financial charges | 65/66B | €69,689 | €2,930 | -€66,759 | -95.8% |
| Recurring financial charges | 65 | €69,689 | €2,427 | -€67,261 | -96.5% |
| Non-recurring financial charges | 66B | - | €503 | +€503 | |
| Profit (loss) for the period before taxes | 9903 | €363,842 | €387,071 | +€23,230 | +6.4% |
| Income taxes | 67/77 | €105,009 | €125,691 | +€20,682 | +19.7% |
| Profit (loss) for the period | 9904 | €258,832 | €261,380 | +€2,547 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €258,832 | €261,380 | +€2,547 | +1.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.