STEVENS: 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.
STEVENS
Largest movements
- Stocks and contracts +€128,944
up €128,944 (+20.1%), from €642,229 to €771,173
- Cash -€89,854
down €89,854 (-96.0%), from €93,602 to €3,748
mainly Stocks and contracts (-€128,944) and Net result for the year (-€78,550)
- Receivables within one year +€23,620
up €23,620 (+307.8%), from €7,675 to €31,296
of which Trade receivables: +€12,949
- Trade debts +€135,862
up €135,862 (+531.8%), from €25,548 to €161,411
- Profit (loss) carried forward -€78,550
new in 2025: -€78,550
- Other debts +€51,312
up €51,312 (+13.3%), from €385,389 to €436,701
- Debts after one year -€43,630
down €43,630 (-30.9%), from €141,044 to €97,415
- Gross operating margin -€96,648
down €96,648 (-93.6%), from €103,301 to €6,653
- Depreciation +€8,941
up €8,941 (+19.0%), from €46,978 to €55,919
- Financial charges -€1,737
down €1,737 (-8.6%), from €20,271 to €18,533
- Taxes -€1,598
down €1,598 (-19.5%), from €8,211 to €6,613
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 | €1,061,406 | €1,119,291 | +€57,886 | +5.5% |
| Fixed assets | 21/28 | €306,825 | €311,359 | +€4,533 | +1.5% |
| Tangible fixed assets | 22/27 | €304,204 | €308,738 | +€4,533 | +1.5% |
| Land and buildings | 22 | €105,950 | €94,876 | -€11,074 | -10.5% |
| Plant, machinery and equipment | 23 | €20,739 | €57,447 | +€36,708 | +177.0% |
| Furniture and vehicles | 24 | €177,514 | €156,414 | -€21,100 | -11.9% |
| Financial fixed assets | 28 | €2,621 | €2,621 | = | 0.0% |
| Current assets | 29/58 | €754,580 | €807,932 | +€53,352 | +7.1% |
| Stocks and contracts in progress | 3 | €642,229 | €771,173 | +€128,944 | +20.1% |
| Stocks | 30/36 | €642,229 | €771,173 | +€128,944 | +20.1% |
| Amounts receivable within one year | 40/41 | €7,675 | €31,296 | +€23,620 | +307.8% |
| Trade receivables | 40 | €2,563 | €15,512 | +€12,949 | +505.2% |
| Other amounts receivable | 41 | €5,112 | €15,783 | +€10,671 | +208.8% |
| Cash at bank and in hand | 54/58 | €93,602 | €3,748 | -€89,854 | -96.0% |
| Deferred charges and accrued income | 490/1 | €11,074 | €1,716 | -€9,358 | -84.5% |
| Total equity and liabilities | 10/49 | €1,061,406 | €1,119,291 | +€57,886 | +5.5% |
| Equity | 10/15 | €263,850 | €185,300 | -€78,550 | -29.8% |
| Contributions | 10/11 | €208,231 | €208,231 | = | 0.0% |
| Reserves | 13 | €55,620 | €55,620 | = | 0.0% |
| Distributable reserves | 133 | €55,620 | €55,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€78,550 | -€78,550 | |
| Amounts payable | 17/49 | €797,556 | €933,991 | +€136,435 | +17.1% |
| Amounts payable after more than one year | 17 | €141,044 | €97,415 | -€43,630 | -30.9% |
| Financial debts | 170/4 | €141,044 | €97,415 | -€43,630 | -30.9% |
| Amounts payable within one year | 42/48 | €645,846 | €824,316 | +€178,470 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €230,046 | €223,630 | -€6,416 | -2.8% |
| Trade debts | 44 | €25,548 | €161,411 | +€135,862 | +531.8% |
| Suppliers | 440/4 | €25,548 | €161,411 | +€135,862 | +531.8% |
| Taxes, remuneration and social security | 45 | €4,863 | €2,575 | -€2,288 | -47.0% |
| Taxes | 450/3 | €4,863 | €2,575 | -€2,288 | -47.0% |
| Other amounts payable | 47/48 | €385,389 | €436,701 | +€51,312 | +13.3% |
| Accrued charges and deferred income | 492/3 | €10,666 | €12,260 | +€1,595 | +15.0% |
| Non-recurring operating income | 76A | €500 | €16,500 | +€16,000 | +3200.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,978 | €55,919 | +€8,941 | +19.0% |
| Other operating charges | 640/8 | €4,189 | €4,138 | -€52 | -1.2% |
| Gross operating margin | 9900 | €103,301 | €6,653 | -€96,648 | -93.6% |
| Operating profit (loss) | 9901 | €52,134 | -€53,403 | -€105,537 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €20,271 | €18,533 | -€1,737 | -8.6% |
| Recurring financial charges | 65 | €20,271 | €18,533 | -€1,737 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €31,863 | -€71,937 | -€103,800 | |
| Income taxes | 67/77 | €8,211 | €6,613 | -€1,598 | -19.5% |
| Profit (loss) for the period | 9904 | €23,652 | -€78,550 | -€102,202 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,652 | -€78,550 | -€102,202 |
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 8 October 2026 via checked.be.