STEVAL CONSULT: 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.
What changed
STEVAL CONSULT
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€577,533
2024 · -€361,044-€216,490
Equity
€40.3m
2024 · €40.9m-€577,533
Cash
€73,596
2024 · €203,828-€130,232
Balance sheet total
€40.6m
2024 · €41.3m-€641,769
Largest movements
Assets
- Intangible fixed assets -€692,033
down €692,033 (-20.0%), from €3.5m to €2.8m
Equity and liabilities
- Profit (loss) carried forward -€577,533
down €577,533 (-9.4%), from €6.2m to €5.6m
Income statement
- Gross operating margin -€199,499
down €199,499 (-53.1%), from €375,586 to €176,087
- Provisions +€103,539
up €103,539, from -€103,539 to €0
- Taxes -€74,812
down €74,812 (-64.8%), from €115,367 to €40,556
- Depreciation -€6,221
down €6,221 (-0.9%), from €701,495 to €695,273
- Financial income +€5,021
up €5,021 (+305.0%), from €1,647 to €6,668
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.
Result 2024
-€361,044
Gross operating margin
-€199,499
Depreciation
+€6,221
Provisions
-€103,539
Other operating charges
+€137
Financial income
+€5,021
Financial charges
+€357
Taxes
+€74,812
Result 2025
-€577,533
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.
From operations
-€30,232
Investment
-€100,000
Financing
€0
Cash 2024
€203,828
From operations (derived)
-€30,232
Net result for the year
-€577,533
Depreciation
+€695,273
Receivables within one year
-€83,483
Smaller working-capital items
-€21
Tax, wage and social debts
-€15,583
Other debts
-€48,885
Investment (derived)
-€100,000
Current investments
-€100,000
Cash 2025
€73,596
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,285,744 | €40,643,974 | -€641,769 | -1.6% |
| Fixed assets | 21/28 | €40,790,079 | €40,094,805 | -€695,273 | -1.7% |
| Intangible fixed assets | 21 | €3,458,270 | €2,766,237 | -€692,033 | -20.0% |
| Tangible fixed assets | 22/27 | €3,240 | €0 | -€3,240 | -100.0% |
| Furniture and vehicles | 24 | €3,240 | €0 | -€3,240 | -100.0% |
| Financial fixed assets | 28 | €37,328,568 | €37,328,568 | = | 0.0% |
| Current assets | 29/58 | €495,665 | €549,169 | +€53,504 | +10.8% |
| Amounts receivable after more than one year | 29 | €36,910 | €36,910 | = | 0.0% |
| Other amounts receivable | 291 | €36,910 | €36,910 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,338 | €85,821 | +€83,483 | +3570.8% |
| Trade receivables | 40 | - | €21,780 | +€21,780 | |
| Other amounts receivable | 41 | €2,338 | €64,041 | +€61,703 | +2639.2% |
| Current investments | 50/53 | €250,000 | €350,000 | +€100,000 | +40.0% |
| Cash at bank and in hand | 54/58 | €203,828 | €73,596 | -€130,232 | -63.9% |
| Deferred charges and accrued income | 490/1 | €2,590 | €2,842 | +€253 | +9.8% |
| Total equity and liabilities | 10/49 | €41,285,744 | €40,643,974 | -€641,769 | -1.6% |
| Equity | 10/15 | €40,915,425 | €40,337,892 | -€577,533 | -1.4% |
| Contributions | 10/11 | €34,617,383 | €34,617,383 | = | 0.0% |
| Reserves | 13 | €146,337 | €146,337 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,079 | €6,079 | = | 0.0% |
| Distributable reserves | 133 | €140,258 | €140,258 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,151,705 | €5,574,172 | -€577,533 | -9.4% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €370,318 | €306,082 | -€64,236 | -17.3% |
| Amounts payable within one year | 42/48 | €370,318 | €306,082 | -€64,236 | -17.3% |
| Trade debts | 44 | €113 | €344 | +€232 | +205.3% |
| Suppliers | 440/4 | €113 | €344 | +€232 | +205.3% |
| Taxes, remuneration and social security | 45 | €33,087 | €17,504 | -€15,583 | -47.1% |
| Taxes | 450/3 | €33,087 | €17,504 | -€15,583 | -47.1% |
| Other amounts payable | 47/48 | €337,118 | €288,234 | -€48,885 | -14.5% |
| Non-recurring operating income | 76A | €1,000 | €0 | -€1,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €701,495 | €695,273 | -€6,221 | -0.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€103,539 | €0 | +€103,539 | |
| Other operating charges | 640/8 | €1,891 | €1,753 | -€137 | -7.3% |
| Gross operating margin | 9900 | €375,586 | €176,087 | -€199,499 | -53.1% |
| Operating profit (loss) | 9901 | -€224,260 | -€520,940 | -€296,680 | -132.3% |
| Financial income | 75/76B | €1,647 | €6,668 | +€5,021 | +305.0% |
| Recurring financial income | 75 | €1,647 | €6,668 | +€5,021 | +305.0% |
| Financial charges | 65/66B | €23,063 | €22,705 | -€357 | -1.5% |
| Recurring financial charges | 65 | €23,063 | €22,705 | -€357 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | -€245,677 | -€536,978 | -€291,301 | -118.6% |
| Income taxes | 67/77 | €115,367 | €40,556 | -€74,812 | -64.8% |
| Profit (loss) for the period | 9904 | -€361,044 | -€577,533 | -€216,490 | -60.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€361,044 | -€577,533 | -€216,490 | -60.0% |
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 6 October 2026 via checked.be.