STEVAN BEVEREN: what changed
Two financial 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.
STEVAN BEVEREN
Largest movements
- Cash +€190,830
up €190,830 (+1,135%), from €16,816 to €207,646
mainly Net result for the year (+€288,047) and Tax, wage and social debts (+€114,039)
- Receivables within one year +€137,888
up €137,888 (+17.1%), from €805,615 to €943,503
of which Trade receivables: +€98,312
- Tangible fixed assets -€49,231
down €49,231 (-3.0%), from €1.7m to €1.6m
of which Land and buildings: -€44,277
- Reserves +€288,047
up €288,047 (+79.8%), from €361,027 to €649,074
- Tax, wage and social debts +€114,039
up €114,039 (+229%), from €49,882 to €163,921
- Advances received -€94,437
no longer reported in 2025 (was €94,437)
- Other debts +€88,148
up €88,148 (+242%), from €36,360 to €124,508
- Current portion of long-term debt -€64,397
down €64,397 (-35.7%), from €180,575 to €116,178
- Gross operating margin +€198,052
up €198,052 (+63.3%), from €313,048 to €511,100
- Taxes +€67,057
up €67,057 (+103%), from €65,222 to €132,279
- Depreciation +€6,021
up €6,021 (+13.9%), from €43,210 to €49,231
- Financial charges -€5,284
down €5,284 (-5.9%), from €89,724 to €84,440
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.
Derived cash bridge
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 | €2,487,357 | €2,778,028 | +€290,671 | +11.7% |
| Fixed assets | 21/28 | €1,660,678 | €1,611,447 | -€49,231 | -3.0% |
| Tangible fixed assets | 22/27 | €1,660,678 | €1,611,447 | -€49,231 | -3.0% |
| Land and buildings | 22 | €1,640,807 | €1,596,530 | -€44,277 | -2.7% |
| Plant, machinery and equipment | 23 | €713 | - | -€713 | |
| Other tangible fixed assets | 26 | €19,158 | €14,917 | -€4,241 | -22.1% |
| Current assets | 29/58 | €826,679 | €1,166,581 | +€339,902 | +41.1% |
| Amounts receivable within one year | 40/41 | €805,615 | €943,503 | +€137,888 | +17.1% |
| Trade receivables | 40 | €33,504 | €131,816 | +€98,312 | +293% |
| Other amounts receivable | 41 | €772,111 | €811,687 | +€39,576 | +5.1% |
| Cash at bank and in hand | 54/58 | €16,816 | €207,646 | +€190,830 | +1,135% |
| Deferred charges and accrued income | 490/1 | €4,248 | €15,432 | +€11,184 | +263% |
| Total equity and liabilities | 10/49 | €2,487,357 | €2,778,028 | +€290,671 | +11.7% |
| Equity | 10/15 | €591,045 | €879,092 | +€288,047 | +48.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €361,027 | €649,074 | +€288,047 | +79.8% |
| Distributable reserves | 133 | €361,027 | €649,074 | +€288,047 | +79.8% |
| Profit (loss) carried forward | 14 | €223,818 | €223,818 | = | 0.0% |
| Amounts payable | 17/49 | €1,896,312 | €1,898,936 | +€2,624 | +0.1% |
| Amounts payable after more than one year | 17 | €1,484,037 | €1,448,719 | -€35,318 | -2.4% |
| Financial debts | 170/4 | €1,484,037 | €1,448,719 | -€35,318 | -2.4% |
| Amounts payable within one year | 42/48 | €409,795 | €450,217 | +€40,422 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €180,575 | €116,178 | -€64,397 | -35.7% |
| Financial debts | 43 | €20,891 | €29,331 | +€8,440 | +40.4% |
| Credit institutions | 430/8 | €20,891 | €29,331 | +€8,440 | +40.4% |
| Trade debts | 44 | €27,650 | €16,279 | -€11,371 | -41.1% |
| Suppliers | 440/4 | €27,650 | €16,279 | -€11,371 | -41.1% |
| Advances received on contracts in progress | 46 | €94,437 | - | -€94,437 | |
| Taxes, remuneration and social security | 45 | €49,882 | €163,921 | +€114,039 | +229% |
| Taxes | 450/3 | €49,882 | €163,921 | +€114,039 | +229% |
| Other amounts payable | 47/48 | €36,360 | €124,508 | +€88,148 | +242% |
| Accrued charges and deferred income | 492/3 | €2,480 | - | -€2,480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,210 | €49,231 | +€6,021 | +13.9% |
| Other operating charges | 640/8 | €1,351 | €1,423 | +€72 | +5.3% |
| Gross operating margin | 9900 | €313,048 | €511,100 | +€198,052 | +63.3% |
| Operating profit (loss) | 9901 | €268,487 | €460,446 | +€191,959 | +71.5% |
| Financial income | 75/76B | €40,298 | €44,320 | +€4,022 | +10.0% |
| Recurring financial income | 75 | €40,298 | €44,320 | +€4,022 | +10.0% |
| Financial charges | 65/66B | €89,724 | €84,440 | -€5,284 | -5.9% |
| Recurring financial charges | 65 | €89,724 | €84,440 | -€5,284 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €219,061 | €420,326 | +€201,265 | +91.9% |
| Income taxes | 67/77 | €65,222 | €132,279 | +€67,057 | +103% |
| Profit (loss) for the period | 9904 | €153,839 | €288,047 | +€134,208 | +87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €153,839 | €288,047 | +€134,208 | +87.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.