STEVIE: 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.
STEVIE
Largest movements
- Cash +€139,749
up €139,749 (+81.7%), from €171,069 to €310,818
mainly Net result for the year (+€161,165) and Debts after one year (+€108,505)
- Tangible fixed assets +€132,154
up €132,154 (+11.7%), from €1.1m to €1.3m
of which Land and buildings: +€73,909
- Reserves +€148,832
up €148,832 (+16.0%), from €930,766 to €1.1m
of which Distributable reserves: +€148,832
- Debts after one year +€108,505
up €108,505 (+48.8%), from €222,507 to €331,012
- Other operating charges -€113,474
down €113,474 (-95.6%), from €118,680 to €5,205
- Gross operating margin -€73,824
down €73,824 (-16.6%), from €443,980 to €370,156
- Taxes +€27,984
up €27,984 (+79.2%), from €35,316 to €63,300
- Staff costs +€8,149
up €8,149 (+59.8%), from €13,624 to €21,773
- Financial charges +€7,820
up €7,820 (+71.6%), from €10,923 to €18,743
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 | €1,333,931 | €1,588,019 | +€254,088 | +19.0% |
| Fixed assets | 21/28 | €1,127,003 | €1,259,157 | +€132,154 | +11.7% |
| Tangible fixed assets | 22/27 | €1,126,928 | €1,259,082 | +€132,154 | +11.7% |
| Land and buildings | 22 | €1,104,459 | €1,178,368 | +€73,909 | +6.7% |
| Plant, machinery and equipment | 23 | €10,451 | €22,260 | +€11,809 | +113.0% |
| Furniture and vehicles | 24 | €12,019 | €58,454 | +€46,436 | +386.4% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €206,928 | €328,862 | +€121,935 | +58.9% |
| Amounts receivable after more than one year | 29 | €8,879 | - | -€8,879 | |
| Other amounts receivable | 291 | €8,879 | - | -€8,879 | |
| Stocks and contracts in progress | 3 | €3,768 | €4,703 | +€935 | +24.8% |
| Stocks | 30/36 | €3,768 | €4,703 | +€935 | +24.8% |
| Amounts receivable within one year | 40/41 | €17,431 | €10,512 | -€6,919 | -39.7% |
| Trade receivables | 40 | €16,333 | €1,646 | -€14,687 | -89.9% |
| Other amounts receivable | 41 | €1,098 | €8,866 | +€7,768 | +707.6% |
| Cash at bank and in hand | 54/58 | €171,069 | €310,818 | +€139,749 | +81.7% |
| Deferred charges and accrued income | 490/1 | €5,781 | €2,830 | -€2,951 | -51.0% |
| Total equity and liabilities | 10/49 | €1,333,931 | €1,588,019 | +€254,088 | +19.0% |
| Equity | 10/15 | €974,358 | €1,123,189 | +€148,832 | +15.3% |
| Contributions | 10/11 | €43,592 | €43,592 | = | 0.0% |
| Reserves | 13 | €930,766 | €1,079,597 | +€148,832 | +16.0% |
| Tax-exempt reserves | 132 | €45,733 | €45,733 | = | 0.0% |
| Distributable reserves | 133 | €885,033 | €1,033,864 | +€148,832 | +16.8% |
| Amounts payable | 17/49 | €359,573 | €464,830 | +€105,257 | +29.3% |
| Amounts payable after more than one year | 17 | €222,507 | €331,012 | +€108,505 | +48.8% |
| Financial debts | 170/4 | €222,507 | €331,012 | +€108,505 | +48.8% |
| Amounts payable within one year | 42/48 | €135,735 | €132,454 | -€3,281 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €129,166 | €113,912 | -€15,254 | -11.8% |
| Trade debts | 44 | €3,430 | €3,501 | +€71 | +2.1% |
| Suppliers | 440/4 | €3,430 | €3,501 | +€71 | +2.1% |
| Taxes, remuneration and social security | 45 | €3,139 | €11,162 | +€8,023 | +255.6% |
| Taxes | 450/3 | €3,139 | €11,162 | +€8,023 | +255.6% |
| Other amounts payable | 47/48 | - | €3,879 | +€3,879 | |
| Accrued charges and deferred income | 492/3 | €1,331 | €1,364 | +€33 | +2.5% |
| Non-recurring operating income | 76A | €1,000 | €8,233 | +€7,233 | +723.3% |
| Remuneration, social security and pensions | 62 | €13,624 | €21,773 | +€8,149 | +59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,145 | €102,043 | -€6,102 | -5.6% |
| Other operating charges | 640/8 | €118,680 | €5,205 | -€113,474 | -95.6% |
| Non-recurring operating charges | 66A | €88,303 | - | -€88,303 | |
| Gross operating margin | 9900 | €443,980 | €370,156 | -€73,824 | -16.6% |
| Operating profit (loss) | 9901 | €115,228 | €241,134 | +€125,906 | +109.3% |
| Financial income | 75/76B | €3,804 | €2,073 | -€1,731 | -45.5% |
| Recurring financial income | 75 | €3,804 | €2,073 | -€1,731 | -45.5% |
| Financial charges | 65/66B | €10,923 | €18,743 | +€7,820 | +71.6% |
| Recurring financial charges | 65 | €10,923 | €18,743 | +€7,820 | +71.6% |
| Profit (loss) for the period before taxes | 9903 | €108,109 | €224,464 | +€116,355 | +107.6% |
| Income taxes | 67/77 | €35,316 | €63,300 | +€27,984 | +79.2% |
| Profit (loss) for the period | 9904 | €72,793 | €161,165 | +€88,371 | +121.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,793 | €161,165 | +€88,371 | +121.4% |
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 10 October 2026 via checked.be.