STEVENS: 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.
STEVENS
Largest movements
- Tangible fixed assets -€31,223
down €31,223 (-23.5%), from €132,790 to €101,567
of which Leasing and similar rights: -€42,000
- Cash +€14,888
up €14,888 (+82.1%), from €18,125 to €33,013
mainly Depreciation (+€35,685) and Debts after one year (+€33,683)
- Receivables within one year -€6,251
down €6,251 (-6.6%), from €94,393 to €88,142
of which Other amounts receivable: -€46,640
- Stocks and contracts -€4,964
down €4,964 (-4.5%), from €110,481 to €105,517
- Trade debts -€64,084
down €64,084 (-60.0%), from €106,891 to €42,807
- Debts after one year +€33,683
up €33,683, from €0 to €33,683
- Current portion of long-term debt -€18,467
down €18,467 (-65.9%), from €28,015 to €9,548
- Other debts +€8,605
up €8,605 (+9.8%), from €88,206 to €96,811
- Tax, wage and social debts +€5,437
up €5,437 (+26.8%), from €20,296 to €25,733
- Gross operating margin +€30,794
up €30,794 (+102.9%), from €29,920 to €60,713
- Depreciation +€10,727
up €10,727 (+43.0%), from €24,958 to €35,685
- Financial charges +€6,281
up €6,281 (+137.9%), from €4,556 to €10,837
- Taxes +€3,808
up €3,808 (+507.6%), from €750 to €4,558
- Other operating charges +€1,503
up €1,503 (+76.2%), from €1,971 to €3,474
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 | €359,206 | €330,705 | -€28,501 | -7.9% |
| Fixed assets | 21/28 | €132,790 | €101,567 | -€31,223 | -23.5% |
| Tangible fixed assets | 22/27 | €132,790 | €101,567 | -€31,223 | -23.5% |
| Land and buildings | 22 | €3,317 | €2,846 | -€471 | -14.2% |
| Plant, machinery and equipment | 23 | €85,052 | €65,857 | -€19,195 | -22.6% |
| Furniture and vehicles | 24 | €2,421 | €32,865 | +€30,444 | +1257.3% |
| Leasing and similar rights | 25 | €42,000 | €0 | -€42,000 | -100.0% |
| Current assets | 29/58 | €226,416 | €229,138 | +€2,722 | +1.2% |
| Stocks and contracts in progress | 3 | €110,481 | €105,517 | -€4,964 | -4.5% |
| Stocks | 30/36 | €110,481 | €105,517 | -€4,964 | -4.5% |
| Amounts receivable within one year | 40/41 | €94,393 | €88,142 | -€6,251 | -6.6% |
| Trade receivables | 40 | €47,725 | €88,114 | +€40,389 | +84.6% |
| Other amounts receivable | 41 | €46,668 | €28 | -€46,640 | -99.9% |
| Cash at bank and in hand | 54/58 | €18,125 | €33,013 | +€14,888 | +82.1% |
| Deferred charges and accrued income | 490/1 | €3,418 | €2,466 | -€952 | -27.8% |
| Total equity and liabilities | 10/49 | €359,206 | €330,705 | -€28,501 | -7.9% |
| Equity | 10/15 | €90,798 | €96,125 | +€5,327 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,858 | €89,925 | +€4,067 | +4.7% |
| Distributable reserves | 133 | €85,858 | €89,925 | +€4,067 | +4.7% |
| Profit (loss) carried forward | 14 | -€1,260 | €0 | +€1,260 | |
| Amounts payable | 17/49 | €268,408 | €234,581 | -€33,828 | -12.6% |
| Amounts payable after more than one year | 17 | €0 | €33,683 | +€33,683 | |
| Financial debts | 170/4 | €0 | €33,683 | +€33,683 | |
| Amounts payable within one year | 42/48 | €243,408 | €174,898 | -€68,510 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €28,015 | €9,548 | -€18,467 | -65.9% |
| Trade debts | 44 | €106,891 | €42,807 | -€64,084 | -60.0% |
| Suppliers | 440/4 | €106,891 | €42,807 | -€64,084 | -60.0% |
| Taxes, remuneration and social security | 45 | €20,296 | €25,733 | +€5,437 | +26.8% |
| Taxes | 450/3 | €20,296 | €25,733 | +€5,437 | +26.8% |
| Other amounts payable | 47/48 | €88,206 | €96,811 | +€8,605 | +9.8% |
| Accrued charges and deferred income | 492/3 | €25,000 | €26,000 | +€1,000 | +4.0% |
| Non-recurring operating income | 76A | €4,405 | €677 | -€3,728 | -84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,958 | €35,685 | +€10,727 | +43.0% |
| Other operating charges | 640/8 | €1,971 | €3,474 | +€1,503 | +76.2% |
| Gross operating margin | 9900 | €29,920 | €60,713 | +€30,794 | +102.9% |
| Operating profit (loss) | 9901 | €2,991 | €21,554 | +€18,563 | +620.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,556 | €10,837 | +€6,281 | +137.9% |
| Recurring financial charges | 65 | €4,556 | €10,837 | +€6,281 | +137.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,565 | €10,718 | +€12,283 | |
| Income taxes | 67/77 | €750 | €4,558 | +€3,808 | +507.6% |
| Profit (loss) for the period | 9904 | -€2,315 | €6,160 | +€8,475 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,315 | €6,160 | +€8,475 |
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 11 October 2026 via checked.be.