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 +€34,559
up €34,559 (+2,084%), from €1,658 to €36,217
mainly Depreciation (+€81,259) and Trade debts (+€20,334)
- Receivables within one year -€18,176
down €18,176 (-9.6%), from €189,975 to €171,799
of which Other amounts receivable: -€28,118
- Tangible fixed assets -€17,346
down €17,346 (-9.6%), from €181,093 to €163,747
of which Furniture and vehicles: -€34,538
- Deferred charges and accrued income +€4,225
new in 2025: €4,225
- Trade debts +€20,334
new in 2025: €20,334
- Current portion of long-term debt -€20,000
no longer reported in 2025 (was €20,000)
- Tax, wage and social debts +€11,448
new in 2025: €11,448
- Other debts -€9,494
down €9,494 (-19.0%), from €50,025 to €40,531
- Gross operating margin -€61,644
down €61,644 (-41.0%), from €150,339 to €88,695
- Depreciation -€26,542
down €26,542 (-24.6%), from €107,801 to €81,259
- Taxes -€8,859
down €8,859 (-75.2%), from €11,775 to €2,916
- Other operating charges -€1,728
down €1,728 (-51.6%), from €3,348 to €1,620
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 | €377,226 | €380,488 | +€3,262 | +0.9% |
| Fixed assets | 21/28 | €185,593 | €168,247 | -€17,346 | -9.3% |
| Tangible fixed assets | 22/27 | €181,093 | €163,747 | -€17,346 | -9.6% |
| Land and buildings | 22 | €29,521 | €37,788 | +€8,267 | +28.0% |
| Plant, machinery and equipment | 23 | €23,774 | €37,489 | +€13,716 | +57.7% |
| Furniture and vehicles | 24 | €107,707 | €73,169 | -€34,538 | -32.1% |
| Other tangible fixed assets | 26 | €20,092 | €15,301 | -€4,791 | -23.8% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €191,634 | €212,241 | +€20,608 | +10.8% |
| Amounts receivable within one year | 40/41 | €189,975 | €171,799 | -€18,176 | -9.6% |
| Trade receivables | 40 | €161,857 | €171,799 | +€9,942 | +6.1% |
| Other amounts receivable | 41 | €28,118 | - | -€28,118 | |
| Cash at bank and in hand | 54/58 | €1,658 | €36,217 | +€34,559 | +2,084% |
| Deferred charges and accrued income | 490/1 | - | €4,225 | +€4,225 | |
| Total equity and liabilities | 10/49 | €377,226 | €380,488 | +€3,262 | +0.9% |
| Equity | 10/15 | €305,608 | €308,176 | +€2,568 | +0.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €108,941 | €108,941 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,941 | €13,941 | = | 0.0% |
| Distributable reserves | 133 | €95,000 | €95,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,208 | €178,775 | +€2,568 | +1.5% |
| Amounts payable | 17/49 | €71,618 | €72,312 | +€694 | +1.0% |
| Amounts payable within one year | 42/48 | €70,025 | €72,312 | +€2,287 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | - | -€20,000 | |
| Trade debts | 44 | - | €20,334 | +€20,334 | |
| Suppliers | 440/4 | - | €20,334 | +€20,334 | |
| Taxes, remuneration and social security | 45 | - | €11,448 | +€11,448 | |
| Taxes | 450/3 | - | €11,448 | +€11,448 | |
| Other amounts payable | 47/48 | €50,025 | €40,531 | -€9,494 | -19.0% |
| Accrued charges and deferred income | 492/3 | €1,593 | - | -€1,593 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,801 | €81,259 | -€26,542 | -24.6% |
| Other operating charges | 640/8 | €3,348 | €1,620 | -€1,728 | -51.6% |
| Gross operating margin | 9900 | €150,339 | €88,695 | -€61,644 | -41.0% |
| Operating profit (loss) | 9901 | €39,190 | €5,816 | -€33,374 | -85.2% |
| Financial income | 75/76B | €6 | €2 | -€4 | -70.7% |
| Recurring financial income | 75 | €6 | €2 | -€4 | -70.7% |
| Financial charges | 65/66B | €620 | €334 | -€286 | -46.1% |
| Recurring financial charges | 65 | €620 | €334 | -€286 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €38,575 | €5,484 | -€33,092 | -85.8% |
| Income taxes | 67/77 | €11,775 | €2,916 | -€8,859 | -75.2% |
| Profit (loss) for the period | 9904 | €26,800 | €2,568 | -€24,232 | -90.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,800 | €2,568 | -€24,232 | -90.4% |
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.