STEVE DECROOCK: 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.
STEVE DECROOCK
Largest movements
- Cash -€26,600
down €26,600 (-44.4%), from €59,885 to €33,285
mainly Investment in fixed assets (net) (-€45,834) and Trade debts (-€22,564)
- Receivables within one year +€21,985
up €21,985 (+45.9%), from €47,893 to €69,878
of which Trade receivables: +€15,915
- Tangible fixed assets +€21,237
up €21,237 (+7.0%), from €305,470 to €326,707
of which Furniture and vehicles: +€29,787
- Stocks and contracts -€10,644
down €10,644 (-25.0%), from €42,574 to €31,930
of which Stocks: -€10,644
- Trade debts -€22,564
down €22,564 (-30.5%), from €73,929 to €51,364
- Reserves +€14,248
up €14,248 (+21.3%), from €66,800 to €81,048
- Tax, wage and social debts +€6,519
up €6,519 (+97.3%), from €6,697 to €13,216
- Current portion of long-term debt +€6,097
up €6,097 (+20.4%), from €29,906 to €36,003
- Gross operating margin +€5,883
up €5,883 (+10.8%), from €54,670 to €60,552
- Depreciation +€3,560
up €3,560 (+16.9%), from €21,036 to €24,596
- Financial charges +€1,115
up €1,115 (+17.3%), from €6,452 to €7,567
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 | €462,515 | €464,025 | +€1,509 | +0.3% |
| Fixed assets | 21/28 | €305,470 | €326,707 | +€21,237 | +7.0% |
| Tangible fixed assets | 22/27 | €305,470 | €326,707 | +€21,237 | +7.0% |
| Land and buildings | 22 | €275,376 | €267,963 | -€7,413 | -2.7% |
| Plant, machinery and equipment | 23 | €6,120 | €4,984 | -€1,136 | -18.6% |
| Furniture and vehicles | 24 | €23,973 | €53,760 | +€29,787 | +124.2% |
| Current assets | 29/58 | €157,046 | €137,318 | -€19,728 | -12.6% |
| Stocks and contracts in progress | 3 | €42,574 | €31,930 | -€10,644 | -25.0% |
| Stocks | 30/36 | €42,574 | €31,930 | -€10,644 | -25.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €47,893 | €69,878 | +€21,985 | +45.9% |
| Trade receivables | 40 | €41,335 | €57,250 | +€15,915 | +38.5% |
| Other amounts receivable | 41 | €6,558 | €12,628 | +€6,070 | +92.5% |
| Cash at bank and in hand | 54/58 | €59,885 | €33,285 | -€26,600 | -44.4% |
| Deferred charges and accrued income | 490/1 | €6,693 | €2,224 | -€4,469 | -66.8% |
| Total equity and liabilities | 10/49 | €462,515 | €464,025 | +€1,509 | +0.3% |
| Equity | 10/15 | €85,400 | €99,648 | +€14,248 | +16.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,800 | €81,048 | +€14,248 | +21.3% |
| Distributable reserves | 133 | €66,800 | €81,048 | +€14,248 | +21.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €377,115 | €364,377 | -€12,738 | -3.4% |
| Amounts payable after more than one year | 17 | €258,413 | €259,916 | +€1,503 | +0.6% |
| Financial debts | 170/4 | €258,413 | €259,916 | +€1,503 | +0.6% |
| Amounts payable within one year | 42/48 | €117,161 | €104,461 | -€12,699 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €29,906 | €36,003 | +€6,097 | +20.4% |
| Trade debts | 44 | €73,929 | €51,364 | -€22,564 | -30.5% |
| Suppliers | 440/4 | €73,929 | €51,364 | -€22,564 | -30.5% |
| Taxes, remuneration and social security | 45 | €6,697 | €13,216 | +€6,519 | +97.3% |
| Taxes | 450/3 | €6,697 | €13,216 | +€6,519 | +97.3% |
| Other amounts payable | 47/48 | €6,629 | €3,878 | -€2,750 | -41.5% |
| Accrued charges and deferred income | 492/3 | €1,542 | €0 | -€1,542 | -100.0% |
| Non-recurring operating income | 76A | - | €826 | +€826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,036 | €24,596 | +€3,560 | +16.9% |
| Other operating charges | 640/8 | €4,362 | €4,203 | -€159 | -3.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €54,670 | €60,552 | +€5,883 | +10.8% |
| Operating profit (loss) | 9901 | €29,272 | €31,753 | +€2,481 | +8.5% |
| Financial income | 75/76B | €262 | €401 | +€138 | +52.8% |
| Recurring financial income | 75 | €262 | €401 | +€138 | +52.8% |
| Financial charges | 65/66B | €6,452 | €7,567 | +€1,115 | +17.3% |
| Recurring financial charges | 65 | €6,452 | €7,567 | +€1,115 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €23,082 | €24,587 | +€1,505 | +6.5% |
| Income taxes | 67/77 | €7,089 | €6,976 | -€113 | -1.6% |
| Profit (loss) for the period | 9904 | €15,993 | €17,611 | +€1,618 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,993 | €17,611 | +€1,618 | +10.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.