STEVINVEST: what changed
What changed
STEVINVEST
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€248,773
2024 · €277,807-€29,034
Equity
€2.1m
2024 · €1.9m+€248,773
Cash
€110,606
2024 · €252,932-€142,326
Balance sheet total
€3.7m
2024 · €3.2m+€487,711
Largest movements
Assets
- Tangible fixed assets +€1.0m
up €1.0m (+72.6%), from €1.4m to €2.4m
of which Land and buildings: +€1.0m
- Current investments -€400,000
down €400,000 (-89.0%), from €449,500 to €49,500
- Cash -€142,326
down €142,326 (-56.3%), from €252,932 to €110,606
mainly Investment in fixed assets (net) (-€1.1m) and Debts after one year (-€49,000)
Equity and liabilities
- Profit (loss) carried forward +€267,723
up €267,723 (+44.4%), from €603,480 to €871,202
- Other debts +€208,546
up €208,546 (+23.0%), from €905,034 to €1.1m
- Trade debts +€75,146
up €75,146 (+417%), from €18,008 to €93,153
- Debts after one year -€49,000
down €49,000 (-27.2%), from €180,000 to €131,000
Income statement
- Gross operating margin -€37,913
down €37,913 (-10.2%), from €373,082 to €335,169
- Taxes -€13,706
down €13,706 (-48.2%), from €28,434 to €14,728
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€277,807
Gross operating margin
-€37,913
Staff costs
-€1,912
Depreciation
+€919
Other operating charges
-€818
Financial income
-€825
Financial charges
-€2,191
Taxes
+€13,706
Result 2025
€248,773
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€649,593
Investment
-€742,920
Financing
-€49,000
Cash 2024
€252,932
From operations (derived)
+€649,593
Net result for the year
+€248,773
Depreciation
+€112,495
Smaller working-capital items
+€1,974
Provisions
-€4,443
Trade debts
+€75,146
Tax, wage and social debts
+€7,102
Other debts
+€208,546
Investment (derived)
-€742,920
Investment in fixed assets (net)
-€1.1m
Current investments
+€400,000
Financing
-€49,000
Debts after one year
-€49,000
Cash 2025
€110,606
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,186,270 | €3,673,981 | +€487,711 | +15.3% |
| Fixed assets | 21/28 | €2,458,382 | €3,488,807 | +€1.0m | +41.9% |
| Tangible fixed assets | 22/27 | €1,419,502 | €2,449,427 | +€1.0m | +72.6% |
| Land and buildings | 22 | €1,044,690 | €2,045,086 | +€1.0m | +95.8% |
| Plant, machinery and equipment | 23 | - | €58,063 | +€58,063 | |
| Furniture and vehicles | 24 | - | €3,647 | +€3,647 | |
| Other tangible fixed assets | 26 | €374,812 | €342,631 | -€32,181 | -8.6% |
| Financial fixed assets | 28 | €1,038,880 | €1,039,380 | +€500 | 0.0% |
| Current assets | 29/58 | €727,887 | €185,174 | -€542,714 | -74.6% |
| Amounts receivable within one year | 40/41 | €24,282 | €25,068 | +€786 | +3.2% |
| Trade receivables | 40 | €24,282 | €24,221 | -€61 | -0.2% |
| Other amounts receivable | 41 | - | €847 | +€847 | |
| Current investments | 50/53 | €449,500 | €49,500 | -€400,000 | -89.0% |
| Cash at bank and in hand | 54/58 | €252,932 | €110,606 | -€142,326 | -56.3% |
| Deferred charges and accrued income | 490/1 | €1,174 | - | -€1,174 | |
| Total equity and liabilities | 10/49 | €3,186,270 | €3,673,981 | +€487,711 | +15.3% |
| Equity | 10/15 | €1,894,376 | €2,143,149 | +€248,773 | +13.1% |
| Contributions | 10/11 | €990,000 | €990,000 | = | 0.0% |
| Capital | 10 | €990,000 | €990,000 | = | 0.0% |
| Issued capital | 100 | €990,000 | €990,000 | = | 0.0% |
| Reserves | 13 | €300,896 | €281,947 | -€18,949 | -6.3% |
| Non-distributable reserves | 130/1 | €99,000 | €99,000 | = | 0.0% |
| Legal reserve | 130 | €99,000 | €99,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €201,896 | €182,947 | -€18,949 | -9.4% |
| Profit (loss) carried forward | 14 | €603,480 | €871,202 | +€267,723 | +44.4% |
| Provisions and deferred taxes | 16 | €56,060 | €51,616 | -€4,443 | -7.9% |
| Deferred taxes | 168 | €56,060 | €51,616 | -€4,443 | -7.9% |
| Amounts payable | 17/49 | €1,235,834 | €1,479,215 | +€243,381 | +19.7% |
| Amounts payable after more than one year | 17 | €180,000 | €131,000 | -€49,000 | -27.2% |
| Financial debts | 170/4 | €180,000 | €131,000 | -€49,000 | -27.2% |
| Amounts payable within one year | 42/48 | €1,052,844 | €1,343,638 | +€290,794 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €49,000 | €49,000 | = | 0.0% |
| Trade debts | 44 | €18,008 | €93,153 | +€75,146 | +417% |
| Suppliers | 440/4 | €18,008 | €93,153 | +€75,146 | +417% |
| Taxes, remuneration and social security | 45 | €80,802 | €87,905 | +€7,102 | +8.8% |
| Taxes | 450/3 | €60,159 | €73,989 | +€13,830 | +23.0% |
| Remuneration and social security | 454/9 | €20,643 | €13,916 | -€6,727 | -32.6% |
| Other amounts payable | 47/48 | €905,034 | €1,113,580 | +€208,546 | +23.0% |
| Accrued charges and deferred income | 492/3 | €2,990 | €4,577 | +€1,587 | +53.1% |
| Remuneration, social security and pensions | 62 | €84,452 | €86,365 | +€1,912 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,413 | €112,495 | -€919 | -0.8% |
| Other operating charges | 640/8 | €30,740 | €31,559 | +€818 | +2.7% |
| Gross operating margin | 9900 | €373,082 | €335,169 | -€37,913 | -10.2% |
| Operating profit (loss) | 9901 | €144,476 | €104,751 | -€39,724 | -27.5% |
| Financial income | 75/76B | €196,891 | €196,067 | -€825 | -0.4% |
| Recurring financial income | 75 | €196,891 | €196,067 | -€825 | -0.4% |
| Financial charges | 65/66B | €39,569 | €41,760 | +€2,191 | +5.5% |
| Recurring financial charges | 65 | €39,569 | €41,760 | +€2,191 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €301,798 | €259,058 | -€42,740 | -14.2% |
| Transfer from deferred taxes | 780 | €4,443 | €4,443 | = | 0.0% |
| Income taxes | 67/77 | €28,434 | €14,728 | -€13,706 | -48.2% |
| Profit (loss) for the period | 9904 | €277,807 | €248,773 | -€29,034 | -10.5% |
| Transfer from tax-exempt reserves | 789 | €18,949 | €18,949 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €296,757 | €267,723 | -€29,034 | -9.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.