STEVAGO: 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.
STEVAGO
Largest movements
- Stocks and contracts +€156,075
up €156,075 (+257.5%), from €60,605 to €216,679
of which Contracts in progress: +€164,673
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Cash +€44,754
up €44,754 (+17.9%), from €249,504 to €294,258
mainly Other debts (+€439,421) and Current investments (+€100,000)
- Receivables within one year -€13,986
down €13,986 (-74.6%), from €18,755 to €4,769
of which Other amounts receivable: -€15,217
- Reserves -€440,636
down €440,636 (-100.0%), from €440,636 to €0
- Other debts +€439,421
up €439,421 (+1622.1%), from €27,090 to €466,511
- Profit (loss) carried forward +€55,423
up €55,423, from -€55,423 to €0
- Accrued charges and deferred income +€17,821
up €17,821, from €0 to €17,821
- Tax, wage and social debts +€12,736
up €12,736, from €0 to €12,736
- Gross operating margin +€100,307
up €100,307, from -€61,601 to €38,705
- Financial income -€10,001
down €10,001 (-96.8%), from €10,336 to €335
- Financial charges +€1,079
up €1,079 (+44.7%), from €2,412 to €3,491
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 | €433,130 | €521,406 | +€88,276 | +20.4% |
| Fixed assets | 21/28 | €1,695 | €1,952 | +€258 | +15.2% |
| Tangible fixed assets | 22/27 | €1,695 | €1,952 | +€258 | +15.2% |
| Plant, machinery and equipment | 23 | - | €443 | +€443 | |
| Other tangible fixed assets | 26 | €1,695 | €1,510 | -€185 | -10.9% |
| Current assets | 29/58 | €431,435 | €519,453 | +€88,018 | +20.4% |
| Stocks and contracts in progress | 3 | €60,605 | €216,679 | +€156,075 | +257.5% |
| Stocks | 30/36 | €8,598 | €0 | -€8,598 | -100.0% |
| Contracts in progress | 37 | €52,007 | €216,679 | +€164,673 | +316.6% |
| Amounts receivable within one year | 40/41 | €18,755 | €4,769 | -€13,986 | -74.6% |
| Trade receivables | 40 | €0 | €1,231 | +€1,231 | |
| Other amounts receivable | 41 | €18,755 | €3,538 | -€15,217 | -81.1% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €249,504 | €294,258 | +€44,754 | +17.9% |
| Deferred charges and accrued income | 490/1 | €2,572 | €3,747 | +€1,175 | +45.7% |
| Total equity and liabilities | 10/49 | €433,130 | €521,406 | +€88,276 | +20.4% |
| Equity | 10/15 | €403,763 | €18,550 | -€385,213 | -95.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €440,636 | €0 | -€440,636 | -100.0% |
| Distributable reserves | 133 | €440,636 | €0 | -€440,636 | -100.0% |
| Profit (loss) carried forward | 14 | -€55,423 | €0 | +€55,423 | |
| Amounts payable | 17/49 | €29,367 | €502,856 | +€473,489 | +1612.3% |
| Amounts payable within one year | 42/48 | €29,367 | €485,034 | +€455,667 | +1551.6% |
| Trade debts | 44 | €2,277 | €5,788 | +€3,511 | +154.2% |
| Suppliers | 440/4 | €2,277 | €5,788 | +€3,511 | +154.2% |
| Taxes, remuneration and social security | 45 | €0 | €12,736 | +€12,736 | |
| Taxes | 450/3 | €0 | €12,736 | +€12,736 | |
| Other amounts payable | 47/48 | €27,090 | €466,511 | +€439,421 | +1622.1% |
| Accrued charges and deferred income | 492/3 | €0 | €17,821 | +€17,821 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155 | €256 | +€100 | +64.7% |
| Other operating charges | 640/8 | €1,216 | €1,244 | +€28 | +2.3% |
| Gross operating margin | 9900 | -€61,601 | €38,705 | +€100,307 | |
| Operating profit (loss) | 9901 | -€62,973 | €37,205 | +€100,178 | |
| Financial income | 75/76B | €10,336 | €335 | -€10,001 | -96.8% |
| Recurring financial income | 75 | €10,336 | €335 | -€10,001 | -96.8% |
| Financial charges | 65/66B | €2,412 | €3,491 | +€1,079 | +44.7% |
| Recurring financial charges | 65 | €2,412 | €3,491 | +€1,079 | +44.7% |
| Profit (loss) for the period before taxes | 9903 | -€55,048 | €34,050 | +€89,098 | |
| Income taxes | 67/77 | €375 | €409 | +€34 | +9.2% |
| Profit (loss) for the period | 9904 | -€55,423 | €33,641 | +€89,064 | |
| Profit (loss) for the period to be appropriated | 9905 | -€55,423 | €33,641 | +€89,064 |
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.