STEVE: 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.
STEVE
Largest movements
- Tangible fixed assets -€13,017
down €13,017 (-7.3%), from €177,264 to €164,248
- Receivables within one year -€7,806
down €7,806 (-97.1%), from €8,041 to €235
of which Trade receivables: -€6,801
- Other debts -€46,666
down €46,666 (-21.3%), from €219,087 to €172,421
- Profit (loss) carried forward +€36,297
up €36,297 (+76.9%), from -€47,197 to -€10,901
- Trade debts -€10,327
down €10,327 (-95.5%), from €10,811 to €485
- Gross operating margin +€59,618
up €59,618, from -€8,355 to €51,263
- Depreciation +€13,017
new in 2025: €13,017
- Other operating charges -€9,578
down €9,578 (-85.9%), from €11,150 to €1,572
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 | €204,081 | €184,743 | -€19,338 | -9.5% |
| Fixed assets | 21/28 | €177,264 | €164,248 | -€13,017 | -7.3% |
| Tangible fixed assets | 22/27 | €177,264 | €164,248 | -€13,017 | -7.3% |
| Land and buildings | 22 | €81,270 | €75,852 | -€5,418 | -6.7% |
| Plant, machinery and equipment | 23 | €1,570 | €864 | -€706 | -45.0% |
| Furniture and vehicles | 24 | €4,483 | €3,586 | -€897 | -20.0% |
| Other tangible fixed assets | 26 | €89,941 | €83,945 | -€5,996 | -6.7% |
| Current assets | 29/58 | €26,816 | €20,495 | -€6,321 | -23.6% |
| Stocks and contracts in progress | 3 | €8,016 | €8,547 | +€531 | +6.6% |
| Stocks | 30/36 | €8,016 | €8,547 | +€531 | +6.6% |
| Amounts receivable within one year | 40/41 | €8,041 | €235 | -€7,806 | -97.1% |
| Trade receivables | 40 | €7,036 | €235 | -€6,801 | -96.7% |
| Other amounts receivable | 41 | €1,004 | €0 | -€1,004 | -100.0% |
| Cash at bank and in hand | 54/58 | €9,522 | €10,442 | +€920 | +9.7% |
| Deferred charges and accrued income | 490/1 | €1,238 | €1,271 | +€33 | +2.7% |
| Total equity and liabilities | 10/49 | €204,081 | €184,743 | -€19,338 | -9.5% |
| Equity | 10/15 | -€26,792 | €9,504 | +€36,297 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,197 | -€10,901 | +€36,297 | +76.9% |
| Amounts payable | 17/49 | €230,873 | €175,238 | -€55,634 | -24.1% |
| Amounts payable within one year | 42/48 | €230,873 | €175,238 | -€55,634 | -24.1% |
| Trade debts | 44 | €10,811 | €485 | -€10,327 | -95.5% |
| Suppliers | 440/4 | €10,811 | €485 | -€10,327 | -95.5% |
| Taxes, remuneration and social security | 45 | €974 | €2,332 | +€1,358 | +139.5% |
| Taxes | 450/3 | €974 | €2,332 | +€1,358 | +139.5% |
| Other amounts payable | 47/48 | €219,087 | €172,421 | -€46,666 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €13,017 | +€13,017 | |
| Other operating charges | 640/8 | €11,150 | €1,572 | -€9,578 | -85.9% |
| Gross operating margin | 9900 | -€8,355 | €51,263 | +€59,618 | |
| Operating profit (loss) | 9901 | -€19,506 | €36,674 | +€56,180 | |
| Financial income | 75/76B | - | €203 | +€203 | |
| Recurring financial income | 75 | - | €203 | +€203 | |
| Financial charges | 65/66B | €821 | €440 | -€381 | -46.4% |
| Recurring financial charges | 65 | €821 | €440 | -€381 | -46.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,326 | €36,437 | +€56,764 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€20,466 | €36,297 | +€56,762 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,466 | €36,297 | +€56,762 |
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 3 October 2026 via checked.be.