STETO: what changed
Two fiscal 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
- Receivables within one year -€39,066
down €39,066 (-27.3%), from €142,896 to €103,829
of which Trade receivables: -€28,056
- Cash +€26,396
up €26,396 (+22.5%), from €117,246 to €143,642
mainly Receivables within one year (+€39,066) and Depreciation (+€38,427)
- Reserves -€31,972
down €31,972 (-17.4%), from €184,204 to €152,233
- Tax, wage and social debts +€17,652
up €17,652 (+22.7%), from €77,810 to €95,462
of which Remuneration and social security: +€21,351
- Current portion of long-term debt +€15,232
up €15,232 (+34.3%), from €44,387 to €59,619
- Trade debts -€12,111
down €12,111 (-34.5%), from €35,141 to €23,029
- Gross operating margin -€63,204
down €63,204 (-13.3%), from €474,121 to €410,917
- Taxes -€12,242
down €12,242 (-91.9%), from €13,322 to €1,080
- Depreciation -€7,562
down €7,562 (-16.4%), from €45,989 to €38,427
- Other operating charges +€4,745
up €4,745 (+78.9%), from €6,017 to €10,761
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.
Cash bridge derived
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 | €566,705 | €555,934 | -€10,771 | -1.9% |
| Fixed assets | 21/28 | €284,533 | €289,941 | +€5,408 | +1.9% |
| Tangible fixed assets | 22/27 | €279,713 | €285,121 | +€5,408 | +1.9% |
| Land and buildings | 22 | €235,467 | €219,667 | -€15,800 | -6.7% |
| Plant, machinery and equipment | 23 | €2,493 | €1,869 | -€623 | -25.0% |
| Furniture and vehicles | 24 | €26,400 | €52,673 | +€26,273 | +99.5% |
| Other tangible fixed assets | 26 | €15,354 | €10,912 | -€4,442 | -28.9% |
| Financial fixed assets | 28 | €4,820 | €4,820 | = | 0.0% |
| Current assets | 29/58 | €282,172 | €265,993 | -€16,179 | -5.7% |
| Amounts receivable within one year | 40/41 | €142,896 | €103,829 | -€39,066 | -27.3% |
| Trade receivables | 40 | €131,701 | €103,645 | -€28,056 | -21.3% |
| Other amounts receivable | 41 | €11,194 | €184 | -€11,011 | -98.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €117,246 | €143,642 | +€26,396 | +22.5% |
| Deferred charges and accrued income | 490/1 | €22,030 | €18,521 | -€3,509 | -15.9% |
| Total equity and liabilities | 10/49 | €566,705 | €555,934 | -€10,771 | -1.9% |
| Equity | 10/15 | €196,604 | €164,633 | -€31,972 | -16.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €184,204 | €152,233 | -€31,972 | -17.4% |
| Distributable reserves | 133 | €184,204 | €152,233 | -€31,972 | -17.4% |
| Amounts payable | 17/49 | €370,100 | €391,301 | +€21,201 | +5.7% |
| Amounts payable after more than one year | 17 | €211,052 | €211,038 | -€14 | 0.0% |
| Financial debts | 170/4 | €211,052 | €211,038 | -€14 | 0.0% |
| Amounts payable within one year | 42/48 | €158,143 | €179,341 | +€21,198 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €44,387 | €59,619 | +€15,232 | +34.3% |
| Trade debts | 44 | €35,141 | €23,029 | -€12,111 | -34.5% |
| Suppliers | 440/4 | €35,141 | €23,029 | -€12,111 | -34.5% |
| Taxes, remuneration and social security | 45 | €77,810 | €95,462 | +€17,652 | +22.7% |
| Taxes | 450/3 | €25,792 | €22,093 | -€3,699 | -14.3% |
| Remuneration and social security | 454/9 | €52,019 | €73,370 | +€21,351 | +41.0% |
| Other amounts payable | 47/48 | €805 | €1,230 | +€425 | +52.8% |
| Accrued charges and deferred income | 492/3 | €905 | €922 | +€17 | +1.9% |
| Non-recurring operating income | 76A | €4,835 | €12,673 | +€7,838 | +162.1% |
| Remuneration, social security and pensions | 62 | €391,508 | €387,983 | -€3,525 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,989 | €38,427 | -€7,562 | -16.4% |
| Other operating charges | 640/8 | €6,017 | €10,761 | +€4,745 | +78.9% |
| Gross operating margin | 9900 | €474,121 | €410,917 | -€63,204 | -13.3% |
| Operating profit (loss) | 9901 | €30,607 | -€26,255 | -€56,862 | |
| Financial income | 75/76B | €2,469 | €2,499 | +€30 | +1.2% |
| Recurring financial income | 75 | €2,469 | €2,499 | +€30 | +1.2% |
| Financial charges | 65/66B | €5,807 | €7,136 | +€1,328 | +22.9% |
| Recurring financial charges | 65 | €5,807 | €7,136 | +€1,328 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | €27,268 | -€30,891 | -€58,160 | |
| Income taxes | 67/77 | €13,322 | €1,080 | -€12,242 | -91.9% |
| Profit (loss) for the period | 9904 | €13,946 | -€31,972 | -€45,918 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,946 | -€31,972 | -€45,918 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.