STEVEX: 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.
STEVEX
Largest movements
- Cash -€13,549
down €13,549 (-56.7%), from €23,889 to €10,340
mainly Stocks and contracts (-€12,123) and Debts after one year (-€7,775)
- Stocks and contracts +€12,123
up €12,123 (+24.6%), from €49,264 to €61,388
- Tangible fixed assets -€8,229
down €8,229 (-37.4%), from €22,009 to €13,780
- Deferred charges and accrued income +€3,000
new in 2025: €3,000
- Receivables within one year +€2,116
up €2,116 (+6.4%), from €33,054 to €35,170
of which Trade receivables: +€1,155
- Debts after one year -€7,775
down €7,775 (-54.1%), from €14,375 to €6,600
- Tax, wage and social debts +€2,903
up €2,903 (+41.4%), from €7,011 to €9,913
- Gross operating margin -€12,781
down €12,781 (-60.5%), from €21,141 to €8,360
- Taxes -€3,095
down €3,095 (-98.8%), from €3,134 to €39
- Depreciation -€1,037
down €1,037 (-11.2%), from €9,266 to €8,229
- Financial income +€967
up €967 (+44.6%), from €2,168 to €3,135
- Financial charges +€374
up €374 (+18.5%), from €2,026 to €2,400
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 | €128,215 | €123,677 | -€4,538 | -3.5% |
| Fixed assets | 21/28 | €22,009 | €13,780 | -€8,229 | -37.4% |
| Tangible fixed assets | 22/27 | €22,009 | €13,780 | -€8,229 | -37.4% |
| Furniture and vehicles | 24 | €22,009 | €13,780 | -€8,229 | -37.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €106,207 | €109,898 | +€3,691 | +3.5% |
| Stocks and contracts in progress | 3 | €49,264 | €61,388 | +€12,123 | +24.6% |
| Stocks | 30/36 | €49,264 | €61,388 | +€12,123 | +24.6% |
| Amounts receivable within one year | 40/41 | €33,054 | €35,170 | +€2,116 | +6.4% |
| Trade receivables | 40 | €30,176 | €31,330 | +€1,155 | +3.8% |
| Other amounts receivable | 41 | €2,878 | €3,840 | +€961 | +33.4% |
| Cash at bank and in hand | 54/58 | €23,889 | €10,340 | -€13,549 | -56.7% |
| Deferred charges and accrued income | 490/1 | - | €3,000 | +€3,000 | |
| Total equity and liabilities | 10/49 | €128,215 | €123,677 | -€4,538 | -3.5% |
| Equity | 10/15 | €92,668 | €92,581 | -€87 | -0.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €86,470 | €86,470 | = | 0.0% |
| Distributable reserves | 133 | €86,470 | €86,470 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€87 | -€87 | |
| Amounts payable | 17/49 | €35,548 | €31,096 | -€4,451 | -12.5% |
| Amounts payable after more than one year | 17 | €14,375 | €6,600 | -€7,775 | -54.1% |
| Financial debts | 170/4 | €14,375 | €6,600 | -€7,775 | -54.1% |
| Amounts payable within one year | 42/48 | €21,173 | €24,497 | +€3,324 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €7,621 | €7,775 | +€154 | +2.0% |
| Trade debts | 44 | €5,670 | €5,771 | +€101 | +1.8% |
| Suppliers | 440/4 | €5,670 | €5,771 | +€101 | +1.8% |
| Taxes, remuneration and social security | 45 | €7,011 | €9,913 | +€2,903 | +41.4% |
| Taxes | 450/3 | €7,011 | €9,913 | +€2,903 | +41.4% |
| Other amounts payable | 47/48 | €871 | €1,037 | +€166 | +19.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,266 | €8,229 | -€1,037 | -11.2% |
| Other operating charges | 640/8 | €890 | €914 | +€24 | +2.7% |
| Gross operating margin | 9900 | €21,141 | €8,360 | -€12,781 | -60.5% |
| Operating profit (loss) | 9901 | €10,985 | -€783 | -€11,768 | |
| Financial income | 75/76B | €2,168 | €3,135 | +€967 | +44.6% |
| Recurring financial income | 75 | €2,168 | €3,135 | +€967 | +44.6% |
| Financial charges | 65/66B | €2,026 | €2,400 | +€374 | +18.5% |
| Recurring financial charges | 65 | €2,026 | €2,400 | +€374 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €11,127 | -€48 | -€11,174 | |
| Income taxes | 67/77 | €3,134 | €39 | -€3,095 | -98.8% |
| Profit (loss) for the period | 9904 | €7,992 | -€87 | -€8,079 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,992 | -€87 | -€8,079 |
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 17 October 2026 via checked.be.