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 +€63,343
up €63,343 (+12.5%), from €506,994 to €570,338
- Tangible fixed assets -€30,640
down €30,640 (-1.7%), from €1.8m to €1.7m
of which Land and buildings: -€61,768
- Receivables within one year +€29,349
up €29,349 (+9.2%), from €318,729 to €348,078
of which Trade receivables: +€34,382
- Debts after one year +€64,655
up €64,655 (+11.0%), from €589,354 to €654,009
- Trade debts +€49,041
up €49,041 (+9.0%), from €546,999 to €596,039
- Reserves +€48,710
up €48,710 (+9.3%), from €526,076 to €574,786
of which Distributable reserves: +€58,710
- Other debts -€48,521
down €48,521 (-15.9%), from €305,355 to €256,834
- Tax, wage and social debts -€36,326
down €36,326 (-19.6%), from €185,258 to €148,932
of which Taxes: -€36,096
- Depreciation +€32,233
up €32,233 (+14.2%), from €227,507 to €259,740
- Staff costs +€27,884
up €27,884 (+7.8%), from €359,169 to €387,053
- Gross operating margin +€20,786
up €20,786 (+2.7%), from €766,797 to €787,583
- Financial income -€12,486
down €12,486 (-80.3%), from €15,554 to €3,068
of which Financial income: -€12,396
- Taxes -€9,706
down €9,706 (-25.4%), from €38,189 to €28,484
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 | €2,627,268 | €2,708,601 | +€81,334 | +3.1% |
| Fixed assets | 21/28 | €1,767,913 | €1,737,273 | -€30,640 | -1.7% |
| Tangible fixed assets | 22/27 | €1,764,643 | €1,734,003 | -€30,640 | -1.7% |
| Land and buildings | 22 | €1,197,738 | €1,135,970 | -€61,768 | -5.2% |
| Plant, machinery and equipment | 23 | €276,947 | €247,552 | -€29,395 | -10.6% |
| Furniture and vehicles | 24 | €289,959 | €350,482 | +€60,523 | +20.9% |
| Financial fixed assets | 28 | €3,270 | €3,270 | = | 0.0% |
| Current assets | 29/58 | €859,354 | €971,328 | +€111,974 | +13.0% |
| Stocks and contracts in progress | 3 | €506,994 | €570,338 | +€63,343 | +12.5% |
| Stocks | 30/36 | €506,994 | €570,338 | +€63,343 | +12.5% |
| Amounts receivable within one year | 40/41 | €318,729 | €348,078 | +€29,349 | +9.2% |
| Trade receivables | 40 | €310,718 | €345,100 | +€34,382 | +11.1% |
| Other amounts receivable | 41 | €8,011 | €2,978 | -€5,033 | -62.8% |
| Cash at bank and in hand | 54/58 | €4,780 | €29,854 | +€25,075 | +524.6% |
| Deferred charges and accrued income | 490/1 | €28,851 | €23,058 | -€5,794 | -20.1% |
| Total equity and liabilities | 10/49 | €2,627,268 | €2,708,601 | +€81,334 | +3.1% |
| Equity | 10/15 | €626,076 | €674,786 | +€48,710 | +7.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €526,076 | €574,786 | +€48,710 | +9.3% |
| Non-distributable reserves | 130/1 | €10,000 | - | -€10,000 | |
| Reserves not available under the articles | 1311 | €10,000 | - | -€10,000 | |
| Distributable reserves | 133 | €516,076 | €574,786 | +€58,710 | +11.4% |
| Amounts payable | 17/49 | €2,001,191 | €2,033,815 | +€32,624 | +1.6% |
| Amounts payable after more than one year | 17 | €589,354 | €654,009 | +€64,655 | +11.0% |
| Financial debts | 170/4 | €589,354 | €654,009 | +€64,655 | +11.0% |
| Amounts payable within one year | 42/48 | €1,409,837 | €1,377,806 | -€32,031 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €172,226 | €176,000 | +€3,775 | +2.2% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €546,999 | €596,039 | +€49,041 | +9.0% |
| Suppliers | 440/4 | €546,999 | €596,039 | +€49,041 | +9.0% |
| Taxes, remuneration and social security | 45 | €185,258 | €148,932 | -€36,326 | -19.6% |
| Taxes | 450/3 | €179,652 | €143,556 | -€36,096 | -20.1% |
| Remuneration and social security | 454/9 | €5,606 | €5,376 | -€230 | -4.1% |
| Other amounts payable | 47/48 | €305,355 | €256,834 | -€48,521 | -15.9% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €359,169 | €387,053 | +€27,884 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227,507 | €259,740 | +€32,233 | +14.2% |
| Other operating charges | 640/8 | €17,530 | €25,288 | +€7,758 | +44.3% |
| Gross operating margin | 9900 | €766,797 | €787,583 | +€20,786 | +2.7% |
| Operating profit (loss) | 9901 | €162,591 | €115,501 | -€47,090 | -29.0% |
| Financial income | 75/76B | €15,554 | €3,068 | -€12,486 | -80.3% |
| Recurring financial income | 75 | €15,463 | €3,068 | -€12,396 | -80.2% |
| Non-recurring financial income | 76B | €91 | - | -€91 | |
| Financial charges | 65/66B | €48,010 | €41,376 | -€6,634 | -13.8% |
| Recurring financial charges | 65 | €48,010 | €41,211 | -€6,799 | -14.2% |
| Non-recurring financial charges | 66B | - | €165 | +€165 | |
| Profit (loss) for the period before taxes | 9903 | €130,136 | €77,193 | -€52,943 | -40.7% |
| Income taxes | 67/77 | €38,189 | €28,484 | -€9,706 | -25.4% |
| Profit (loss) for the period | 9904 | €91,947 | €48,710 | -€43,237 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €91,947 | €48,710 | -€43,237 | -47.0% |
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.