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
- Receivables after one year -€8,025
down €8,025 (-5.6%), from €144,194 to €136,169
- Cash +€2,123
new in 2025: €2,123
mainly Debts after one year (+€18,899) and Receivables after one year (+€8,025)
- Short-term financial debts -€26,383
down €26,383 (-86.8%), from €30,388 to €4,005
- Debts after one year +€18,899
new in 2025: €18,899
- Current portion of long-term debt +€4,496
new in 2025: €4,496
- Trade debts -€2,845
down €2,845 (-71.8%), from €3,961 to €1,116
- Gross operating margin -€6,329
down €6,329 (-51.4%), from €12,313 to €5,984
- Financial charges -€1,726
down €1,726 (-31.6%), from €5,470 to €3,744
- Taxes -€939
down €939 (-62.5%), from €1,503 to €564
- Depreciation +€299
up €299, from €0 to €299
- Other operating charges -€154
down €154 (-18.1%), from €850 to €696
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 | €152,865 | €147,677 | -€5,188 | -3.4% |
| Fixed assets | 21/28 | €2,099 | €3,239 | +€1,140 | +54.3% |
| Tangible fixed assets | 22/27 | €2,099 | €3,239 | +€1,140 | +54.3% |
| Plant, machinery and equipment | 23 | €2,099 | €3,239 | +€1,140 | +54.3% |
| Current assets | 29/58 | €150,766 | €144,438 | -€6,328 | -4.2% |
| Amounts receivable after more than one year | 29 | €144,194 | €136,169 | -€8,025 | -5.6% |
| Other amounts receivable | 291 | €144,194 | €136,169 | -€8,025 | -5.6% |
| Amounts receivable within one year | 40/41 | €5,366 | €5,125 | -€241 | -4.5% |
| Trade receivables | 40 | €4,148 | €3,953 | -€195 | -4.7% |
| Other amounts receivable | 41 | €1,218 | €1,172 | -€46 | -3.8% |
| Cash at bank and in hand | 54/58 | - | €2,123 | +€2,123 | |
| Deferred charges and accrued income | 490/1 | €1,206 | €1,021 | -€185 | -15.3% |
| Total equity and liabilities | 10/49 | €152,865 | €147,677 | -€5,188 | -3.4% |
| Equity | 10/15 | €112,777 | €113,458 | +€681 | +0.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Capital | 10 | €19,000 | - | -€19,000 | |
| Issued capital | 100 | €19,000 | - | -€19,000 | |
| Reserves | 13 | €93,777 | €94,458 | +€681 | +0.7% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Legal reserve | 130 | €1,900 | - | -€1,900 | |
| Reserves not available under the articles | 1311 | - | €1,900 | +€1,900 | |
| Distributable reserves | 133 | €91,877 | €92,558 | +€681 | +0.7% |
| Amounts payable | 17/49 | €40,088 | €34,219 | -€5,869 | -14.6% |
| Amounts payable after more than one year | 17 | - | €18,899 | +€18,899 | |
| Financial debts | 170/4 | - | €18,899 | +€18,899 | |
| Amounts payable within one year | 42/48 | €40,088 | €15,320 | -€24,768 | -61.8% |
| Current portion of amounts payable after more than one year | 42 | - | €4,496 | +€4,496 | |
| Financial debts | 43 | €30,388 | €4,005 | -€26,383 | -86.8% |
| Credit institutions | 430/8 | €30,388 | €4,005 | -€26,383 | -86.8% |
| Trade debts | 44 | €3,961 | €1,116 | -€2,845 | -71.8% |
| Suppliers | 440/4 | €3,961 | €1,116 | -€2,845 | -71.8% |
| Taxes, remuneration and social security | 45 | €2,739 | €2,703 | -€36 | -1.3% |
| Taxes | 450/3 | €2,739 | €2,703 | -€36 | -1.3% |
| Other amounts payable | 47/48 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €299 | +€299 | |
| Other operating charges | 640/8 | €850 | €696 | -€154 | -18.1% |
| Gross operating margin | 9900 | €12,313 | €5,984 | -€6,329 | -51.4% |
| Operating profit (loss) | 9901 | €11,463 | €4,989 | -€6,474 | -56.5% |
| Financial charges | 65/66B | €5,470 | €3,744 | -€1,726 | -31.6% |
| Recurring financial charges | 65 | €5,470 | €3,744 | -€1,726 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €5,993 | €1,245 | -€4,748 | -79.2% |
| Income taxes | 67/77 | €1,503 | €564 | -€939 | -62.5% |
| Profit (loss) for the period | 9904 | €4,490 | €681 | -€3,809 | -84.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,490 | €681 | -€3,809 | -84.8% |
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 30 September 2026 via checked.be.