STEVAC: 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.
STEVAC
Largest movements
- Cash +€17,214
up €17,214 (+8.5%), from €203,637 to €220,851
mainly Net result for the year (+€17,364) and Depreciation (+€11,865)
- Tangible fixed assets -€10,207
down €10,207 (-21.9%), from €46,503 to €36,296
of which Furniture and vehicles: -€10,005
- Reserves +€17,364
up €17,364 (+8.0%), from €216,718 to €234,082
- Other debts -€7,606
down €7,606 (-24.6%), from €30,863 to €23,257
- Gross operating margin -€9,086
down €9,086 (-20.7%), from €43,829 to €34,743
- Taxes -€3,583
down €3,583 (-41.4%), from €8,661 to €5,078
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 | €266,181 | €276,639 | +€10,458 | +3.9% |
| Fixed assets | 21/28 | €48,603 | €38,396 | -€10,207 | -21.0% |
| Tangible fixed assets | 22/27 | €46,503 | €36,296 | -€10,207 | -21.9% |
| Plant, machinery and equipment | 23 | €1,473 | €1,271 | -€202 | -13.7% |
| Furniture and vehicles | 24 | €45,030 | €35,025 | -€10,005 | -22.2% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €217,578 | €238,243 | +€20,665 | +9.5% |
| Amounts receivable within one year | 40/41 | €11,835 | €14,277 | +€2,442 | +20.6% |
| Trade receivables | 40 | €292 | €2,509 | +€2,217 | +759.1% |
| Other amounts receivable | 41 | €11,543 | €11,769 | +€226 | +2.0% |
| Cash at bank and in hand | 54/58 | €203,637 | €220,851 | +€17,214 | +8.5% |
| Deferred charges and accrued income | 490/1 | €2,106 | €3,114 | +€1,008 | +47.9% |
| Total equity and liabilities | 10/49 | €266,181 | €276,639 | +€10,458 | +3.9% |
| Equity | 10/15 | €235,318 | €252,682 | +€17,364 | +7.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €216,718 | €234,082 | +€17,364 | +8.0% |
| Distributable reserves | 133 | €216,718 | €234,082 | +€17,364 | +8.0% |
| Amounts payable | 17/49 | €30,863 | €23,957 | -€6,906 | -22.4% |
| Amounts payable within one year | 42/48 | €30,863 | €23,957 | -€6,906 | -22.4% |
| Trade debts | 44 | - | €700 | +€700 | |
| Suppliers | 440/4 | - | €700 | +€700 | |
| Other amounts payable | 47/48 | €30,863 | €23,257 | -€7,606 | -24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,566 | €11,865 | +€299 | +2.6% |
| Other operating charges | 640/8 | €1,091 | €961 | -€130 | -11.9% |
| Gross operating margin | 9900 | €43,829 | €34,743 | -€9,086 | -20.7% |
| Operating profit (loss) | 9901 | €31,172 | €21,916 | -€9,255 | -29.7% |
| Financial income | 75/76B | €654 | €668 | +€14 | +2.1% |
| Recurring financial income | 75 | €654 | €668 | +€14 | +2.1% |
| Financial charges | 65/66B | €143 | €142 | -€1 | -0.6% |
| Recurring financial charges | 65 | €143 | €142 | -€1 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €31,683 | €22,442 | -€9,240 | -29.2% |
| Income taxes | 67/77 | €8,661 | €5,078 | -€3,583 | -41.4% |
| Profit (loss) for the period | 9904 | €23,022 | €17,364 | -€5,658 | -24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,022 | €17,364 | -€5,658 | -24.6% |
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 4 October 2026 via checked.be.