STEULER - CTI: 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.
STEULER - CTI
Largest movements
- Stocks and contracts +€1.2m
up €1.2m (+93.2%), from €1.3m to €2.5m
- Cash -€640,112
down €640,112 (-68.8%), from €929,953 to €289,841
mainly Stocks and contracts (-€1.2m) and Contributions, distributions and other (-€200,000)
- Receivables within one year +€53,342
up €53,342 (+3.7%), from €1.4m to €1.5m
of which Other amounts receivable: +€114,349
- Current portion of long-term debt +€400,000
up €400,000, from €0 to €400,000
- Advances received +€315,443
new in 2025: €315,443
- Profit (loss) carried forward -€221,187
down €221,187 (-15.7%), from €1.4m to €1.2m
- Other debts +€202,119
up €202,119, from €0 to €202,119
- Accrued charges and deferred income -€80,789
down €80,789 (-55.7%), from €145,005 to €64,216
- Gross operating margin -€1.0m
down €1.0m (-32.7%), from €3.1m to €2.1m
- Staff costs -€296,650
down €296,650 (-14.0%), from €2.1m to €1.8m
- Taxes -€206,235
down €206,235 (-99.7%), from €206,901 to €666
- Depreciation -€62,136
down €62,136 (-27.9%), from €222,549 to €160,413
- Financial charges +€51,307
up €51,307 (+96.7%), from €53,083 to €104,390
of which Financial charges: +€51,307
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 | €4,052,138 | €4,652,472 | +€600,335 | +14.8% |
| Fixed assets | 21/28 | €391,935 | €360,346 | -€31,589 | -8.1% |
| Intangible fixed assets | 21 | €206,703 | €168,951 | -€37,752 | -18.3% |
| Tangible fixed assets | 22/27 | €182,832 | €191,395 | +€8,563 | +4.7% |
| Land and buildings | 22 | €87,096 | €88,217 | +€1,122 | +1.3% |
| Plant, machinery and equipment | 23 | €76,020 | €82,604 | +€6,583 | +8.7% |
| Furniture and vehicles | 24 | €19,716 | €20,574 | +€858 | +4.4% |
| Financial fixed assets | 28 | €2,400 | €0 | -€2,400 | -100.0% |
| Current assets | 29/58 | €3,660,203 | €4,292,126 | +€631,924 | +17.3% |
| Stocks and contracts in progress | 3 | €1,279,908 | €2,472,953 | +€1.2m | +93.2% |
| Stocks | 30/36 | €1,279,908 | €2,472,953 | +€1.2m | +93.2% |
| Amounts receivable within one year | 40/41 | €1,425,242 | €1,478,584 | +€53,342 | +3.7% |
| Trade receivables | 40 | €1,291,681 | €1,230,675 | -€61,006 | -4.7% |
| Other amounts receivable | 41 | €133,561 | €247,910 | +€114,349 | +85.6% |
| Cash at bank and in hand | 54/58 | €929,953 | €289,841 | -€640,112 | -68.8% |
| Deferred charges and accrued income | 490/1 | €25,100 | €50,748 | +€25,649 | +102.2% |
| Total equity and liabilities | 10/49 | €4,052,138 | €4,652,472 | +€600,335 | +14.8% |
| Equity | 10/15 | €3,154,975 | €2,933,788 | -€221,187 | -7.0% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €1,623,208 | €1,623,208 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €1,610,813 | €1,610,813 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,407,821 | €1,186,633 | -€221,187 | -15.7% |
| Amounts payable | 17/49 | €897,163 | €1,718,685 | +€821,522 | +91.6% |
| Amounts payable within one year | 42/48 | €752,157 | €1,654,469 | +€902,312 | +120.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | €400,000 | +€400,000 | |
| Trade debts | 44 | €594,763 | €581,859 | -€12,904 | -2.2% |
| Suppliers | 440/4 | €594,763 | €581,859 | -€12,904 | -2.2% |
| Advances received on contracts in progress | 46 | - | €315,443 | +€315,443 | |
| Taxes, remuneration and social security | 45 | €157,394 | €155,048 | -€2,346 | -1.5% |
| Remuneration and social security | 454/9 | €157,394 | €155,048 | -€2,346 | -1.5% |
| Other amounts payable | 47/48 | €0 | €202,119 | +€202,119 | |
| Accrued charges and deferred income | 492/3 | €145,005 | €64,216 | -€80,789 | -55.7% |
| Remuneration, social security and pensions | 62 | €2,115,969 | €1,819,319 | -€296,650 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222,549 | €160,413 | -€62,136 | -27.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €21,362 | €21,591 | +€229 | +1.1% |
| Non-recurring operating charges | 66A | €1,746 | €0 | -€1,746 | -100.0% |
| Gross operating margin | 9900 | €3,081,219 | €2,073,756 | -€1.0m | -32.7% |
| Operating profit (loss) | 9901 | €719,592 | €72,433 | -€647,159 | -89.9% |
| Financial income | 75/76B | €61,941 | €11,436 | -€50,505 | -81.5% |
| Recurring financial income | 75 | €61,941 | €11,436 | -€50,505 | -81.5% |
| Financial charges | 65/66B | €53,083 | €104,390 | +€51,307 | +96.7% |
| Recurring financial charges | 65 | €53,082 | €104,390 | +€51,307 | +96.7% |
| Non-recurring financial charges | 66B | €0 | €0 | -€0 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €728,451 | -€20,521 | -€748,971 | |
| Income taxes | 67/77 | €206,901 | €666 | -€206,235 | -99.7% |
| Profit (loss) for the period | 9904 | €521,549 | -€21,187 | -€542,737 | |
| Profit (loss) for the period to be appropriated | 9905 | €521,549 | -€21,187 | -€542,737 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.