STEVENSHUIS: 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.
STEVENSHUIS
Largest movements
- Tangible fixed assets +€63,344
up €63,344 (+20.4%), from €310,446 to €373,790
of which Furniture and vehicles: +€64,270
- Cash -€18,858
down €18,858 (-38.7%), from €48,766 to €29,908
mainly Investment in fixed assets (net) (-€99,748) and Tax, wage and social debts (-€10,214)
- Reserves +€57,823
up €57,823 (+90.7%), from €63,782 to €121,605
- Tax, wage and social debts -€10,214
down €10,214 (-66.0%), from €15,469 to €5,256
- Trade debts +€7,566
up €7,566 (+62.1%), from €12,191 to €19,757
- Debts after one year -€7,403
down €7,403 (-4.4%), from €169,501 to €162,097
- Gross operating margin +€37,085
up €37,085 (+44.6%), from €83,236 to €120,321
- Depreciation -€9,987
down €9,987 (-20.7%), from €48,192 to €38,205
- Taxes +€7,734
up €7,734 (+99.2%), from €7,798 to €15,533
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 | €377,188 | €421,598 | +€44,410 | +11.8% |
| Fixed assets | 21/28 | €323,554 | €385,096 | +€61,543 | +19.0% |
| Intangible fixed assets | 21 | €12,608 | €10,806 | -€1,802 | -14.3% |
| Tangible fixed assets | 22/27 | €310,446 | €373,790 | +€63,344 | +20.4% |
| Land and buildings | 22 | €295,653 | €305,185 | +€9,532 | +3.2% |
| Plant, machinery and equipment | 23 | €13,082 | €2,624 | -€10,458 | -79.9% |
| Furniture and vehicles | 24 | €1,711 | €65,981 | +€64,270 | +3,757% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €53,634 | €36,502 | -€17,132 | -31.9% |
| Stocks and contracts in progress | 3 | €3,262 | €4,922 | +€1,660 | +50.9% |
| Stocks | 30/36 | €3,262 | €4,922 | +€1,660 | +50.9% |
| Amounts receivable within one year | 40/41 | €730 | €803 | +€73 | +10.1% |
| Other amounts receivable | 41 | €730 | €803 | +€73 | +10.1% |
| Cash at bank and in hand | 54/58 | €48,766 | €29,908 | -€18,858 | -38.7% |
| Deferred charges and accrued income | 490/1 | €876 | €868 | -€8 | -0.9% |
| Total equity and liabilities | 10/49 | €377,188 | €421,598 | +€44,410 | +11.8% |
| Equity | 10/15 | €66,782 | €124,605 | +€57,823 | +86.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €63,782 | €121,605 | +€57,823 | +90.7% |
| Distributable reserves | 133 | €63,782 | €121,605 | +€57,823 | +90.7% |
| Amounts payable | 17/49 | €310,406 | €296,993 | -€13,413 | -4.3% |
| Amounts payable after more than one year | 17 | €169,501 | €162,097 | -€7,403 | -4.4% |
| Financial debts | 170/4 | €169,501 | €162,097 | -€7,403 | -4.4% |
| Amounts payable within one year | 42/48 | €140,905 | €134,765 | -€6,140 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €7,078 | €7,403 | +€325 | +4.6% |
| Trade debts | 44 | €12,191 | €19,757 | +€7,566 | +62.1% |
| Suppliers | 440/4 | €12,191 | €19,757 | +€7,566 | +62.1% |
| Taxes, remuneration and social security | 45 | €15,469 | €5,256 | -€10,214 | -66.0% |
| Taxes | 450/3 | €15,469 | €5,256 | -€10,214 | -66.0% |
| Other amounts payable | 47/48 | €106,167 | €102,349 | -€3,818 | -3.6% |
| Accrued charges and deferred income | 492/3 | - | €131 | +€131 | |
| Remuneration, social security and pensions | 62 | €25 | €3 | -€23 | -89.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,192 | €38,205 | -€9,987 | -20.7% |
| Other operating charges | 640/8 | €2,805 | €1,982 | -€823 | -29.3% |
| Gross operating margin | 9900 | €83,236 | €120,321 | +€37,085 | +44.6% |
| Operating profit (loss) | 9901 | €32,215 | €80,131 | +€47,917 | +149% |
| Financial income | 75/76B | €1,353 | €664 | -€690 | -51.0% |
| Recurring financial income | 75 | €1,353 | €664 | -€690 | -51.0% |
| Financial charges | 65/66B | €6,721 | €7,439 | +€718 | +10.7% |
| Recurring financial charges | 65 | €6,721 | €7,439 | +€718 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €26,847 | €73,356 | +€46,509 | +173% |
| Income taxes | 67/77 | €7,798 | €15,533 | +€7,734 | +99.2% |
| Profit (loss) for the period | 9904 | €19,048 | €57,823 | +€38,775 | +204% |
| Profit (loss) for the period to be appropriated | 9905 | €19,048 | €57,823 | +€38,775 | +204% |
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 15 October 2026 via checked.be.