STEVECON: 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.
STEVECON
Largest movements
- Tangible fixed assets -€12,671
down €12,671 (-2.5%), from €515,979 to €503,308
of which Furniture and vehicles: -€19,858
- Deferred charges and accrued income +€8,015
up €8,015 (+166%), from €4,831 to €12,845
- Debts after one year -€51,256
down €51,256 (-28.2%), from €181,573 to €130,317
of which Financial debts: -€51,256
- Other debts +€25,715
up €25,715 (+47.6%), from €53,989 to €79,704
- Tax, wage and social debts +€15,696
up €15,696 (+75.9%), from €20,689 to €36,385
- Reserves +€11,073
up €11,073 (+4.5%), from €248,585 to €259,659
of which Distributable reserves: +€12,676
- Trade debts -€10,220
down €10,220 (-24.7%), from €41,374 to €31,154
- Gross operating margin +€86,283
up €86,283 (+116%), from €74,419 to €160,702
- Taxes +€22,121
up €22,121 (+520%), from €4,255 to €26,376
- Depreciation +€10,828
up €10,828 (+21.1%), from €51,284 to €62,112
- Other operating charges -€2,587
down €2,587 (-43.5%), from €5,951 to €3,364
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 | €603,824 | €598,344 | -€5,480 | -0.9% |
| Fixed assets | 21/28 | €515,979 | €503,308 | -€12,671 | -2.5% |
| Tangible fixed assets | 22/27 | €515,979 | €503,308 | -€12,671 | -2.5% |
| Land and buildings | 22 | €394,296 | €401,483 | +€7,188 | +1.8% |
| Furniture and vehicles | 24 | €121,683 | €101,825 | -€19,858 | -16.3% |
| Current assets | 29/58 | €87,845 | €95,036 | +€7,191 | +8.2% |
| Amounts receivable within one year | 40/41 | €81,154 | €82,167 | +€1,014 | +1.2% |
| Trade receivables | 40 | €64,422 | €82,167 | +€17,745 | +27.5% |
| Other amounts receivable | 41 | €16,732 | - | -€16,732 | |
| Cash at bank and in hand | 54/58 | €1,861 | €24 | -€1,838 | -98.7% |
| Deferred charges and accrued income | 490/1 | €4,831 | €12,845 | +€8,015 | +166% |
| Total equity and liabilities | 10/49 | €603,824 | €598,344 | -€5,480 | -0.9% |
| Equity | 10/15 | €254,785 | €265,859 | +€11,073 | +4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €248,585 | €259,659 | +€11,073 | +4.5% |
| Tax-exempt reserves | 132 | €4,275 | €2,672 | -€1,603 | -37.5% |
| Distributable reserves | 133 | €244,310 | €256,987 | +€12,676 | +5.2% |
| Provisions and deferred taxes | 16 | €1,425 | €891 | -€534 | -37.5% |
| Deferred taxes | 168 | €1,425 | €891 | -€534 | -37.5% |
| Amounts payable | 17/49 | €347,614 | €331,595 | -€16,018 | -4.6% |
| Amounts payable after more than one year | 17 | €181,573 | €130,317 | -€51,256 | -28.2% |
| Financial debts | 170/4 | €180,673 | €129,417 | -€51,256 | -28.4% |
| Other amounts payable | 178/9 | €900 | €900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €166,041 | €201,092 | +€35,051 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €49,988 | €51,256 | +€1,268 | +2.5% |
| Financial debts | 43 | - | €2,592 | +€2,592 | |
| Credit institutions | 430/8 | - | €2,592 | +€2,592 | |
| Trade debts | 44 | €41,374 | €31,154 | -€10,220 | -24.7% |
| Suppliers | 440/4 | €41,374 | €31,154 | -€10,220 | -24.7% |
| Taxes, remuneration and social security | 45 | €20,689 | €36,385 | +€15,696 | +75.9% |
| Taxes | 450/3 | €20,689 | €36,385 | +€15,696 | +75.9% |
| Other amounts payable | 47/48 | €53,989 | €79,704 | +€25,715 | +47.6% |
| Accrued charges and deferred income | 492/3 | - | €187 | +€187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,284 | €62,112 | +€10,828 | +21.1% |
| Other operating charges | 640/8 | €5,951 | €3,364 | -€2,587 | -43.5% |
| Gross operating margin | 9900 | €74,419 | €160,702 | +€86,283 | +116% |
| Operating profit (loss) | 9901 | €17,184 | €95,226 | +€78,042 | +454% |
| Financial income | 75/76B | €50 | €204 | +€154 | +308% |
| Recurring financial income | 75 | €50 | €204 | +€154 | +308% |
| Financial charges | 65/66B | €5,752 | €6,325 | +€573 | +10.0% |
| Recurring financial charges | 65 | €5,752 | €6,325 | +€573 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €11,482 | €89,105 | +€77,623 | +676% |
| Transfer from deferred taxes | 780 | - | €534 | +€534 | |
| Income taxes | 67/77 | €4,255 | €26,376 | +€22,121 | +520% |
| Profit (loss) for the period | 9904 | €7,227 | €63,263 | +€56,036 | +775% |
| Transfer from tax-exempt reserves | 789 | - | €1,603 | +€1,603 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,227 | €64,866 | +€57,639 | +798% |
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 14 October 2026 via checked.be.