STEWO CONSTRUCT: 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.
STEWO CONSTRUCT
Largest movements
- Cash +€207,561
up €207,561 (+123.5%), from €168,107 to €375,668
mainly Current investments (+€150,000) and Net result for the year (+€114,053)
- Current investments -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Receivables within one year -€55,430
down €55,430 (-19.6%), from €282,449 to €227,019
of which Other amounts receivable: -€40,263
- Tangible fixed assets -€54,878
down €54,878 (-8.0%), from €686,854 to €631,976
of which Furniture and vehicles: -€44,387
- Reserves +€114,053
up €114,053 (+16.8%), from €677,072 to €791,125
of which Distributable reserves: +€120,053
- Debts after one year -€70,247
down €70,247 (-27.7%), from €253,581 to €183,334
- Short-term financial debts -€69,161
down €69,161 (-95.3%), from €72,567 to €3,406
- Other debts -€19,338
down €19,338 (-17.2%), from €112,405 to €93,068
- Staff costs -€127,177
down €127,177 (-36.0%), from €353,575 to €226,398
- Taxes +€33,995
up €33,995 (+434.4%), from €7,825 to €41,820
- Depreciation -€19,918
down €19,918 (-16.2%), from €122,770 to €102,852
- Gross operating margin -€14,823
down €14,823 (-2.9%), from €514,147 to €499,323
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 | €1,347,221 | €1,293,294 | -€53,927 | -4.0% |
| Fixed assets | 21/28 | €693,771 | €640,831 | -€52,940 | -7.6% |
| Intangible fixed assets | 21 | - | €1,937 | +€1,937 | |
| Tangible fixed assets | 22/27 | €686,854 | €631,976 | -€54,878 | -8.0% |
| Land and buildings | 22 | €407,179 | €422,516 | +€15,337 | +3.8% |
| Plant, machinery and equipment | 23 | €83,844 | €68,016 | -€15,828 | -18.9% |
| Furniture and vehicles | 24 | €105,831 | €61,445 | -€44,387 | -41.9% |
| Leasing and similar rights | 25 | €90,000 | €80,000 | -€10,000 | -11.1% |
| Financial fixed assets | 28 | €6,917 | €6,917 | = | 0.0% |
| Current assets | 29/58 | €653,450 | €652,463 | -€986 | -0.2% |
| Stocks and contracts in progress | 3 | €38,396 | €36,355 | -€2,041 | -5.3% |
| Stocks | 30/36 | €38,396 | €36,355 | -€2,041 | -5.3% |
| Amounts receivable within one year | 40/41 | €282,449 | €227,019 | -€55,430 | -19.6% |
| Trade receivables | 40 | €216,006 | €200,838 | -€15,168 | -7.0% |
| Other amounts receivable | 41 | €66,444 | €26,181 | -€40,263 | -60.6% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €168,107 | €375,668 | +€207,561 | +123.5% |
| Deferred charges and accrued income | 490/1 | €14,498 | €13,422 | -€1,076 | -7.4% |
| Total equity and liabilities | 10/49 | €1,347,221 | €1,293,294 | -€53,927 | -4.0% |
| Equity | 10/15 | €695,672 | €809,725 | +€114,053 | +16.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €677,072 | €791,125 | +€114,053 | +16.8% |
| Tax-exempt reserves | 132 | €6,904 | €904 | -€6,000 | -86.9% |
| Distributable reserves | 133 | €670,168 | €790,221 | +€120,053 | +17.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €2,301 | €301 | -€2,000 | -86.9% |
| Deferred taxes | 168 | €2,301 | €301 | -€2,000 | -86.9% |
| Amounts payable | 17/49 | €649,247 | €483,267 | -€165,980 | -25.6% |
| Amounts payable after more than one year | 17 | €253,581 | €183,334 | -€70,247 | -27.7% |
| Financial debts | 170/4 | €253,581 | €183,334 | -€70,247 | -27.7% |
| Amounts payable within one year | 42/48 | €395,615 | €297,729 | -€97,886 | -24.7% |
| Current portion of amounts payable after more than one year | 42 | €68,811 | €70,247 | +€1,436 | +2.1% |
| Financial debts | 43 | €72,567 | €3,406 | -€69,161 | -95.3% |
| Credit institutions | 430/8 | €72,567 | €3,406 | -€69,161 | -95.3% |
| Trade debts | 44 | €59,270 | €51,789 | -€7,481 | -12.6% |
| Suppliers | 440/4 | €59,270 | €51,789 | -€7,481 | -12.6% |
| Taxes, remuneration and social security | 45 | €82,561 | €79,219 | -€3,342 | -4.0% |
| Taxes | 450/3 | €40,448 | €49,454 | +€9,006 | +22.3% |
| Remuneration and social security | 454/9 | €42,114 | €29,766 | -€12,348 | -29.3% |
| Other amounts payable | 47/48 | €112,405 | €93,068 | -€19,338 | -17.2% |
| Accrued charges and deferred income | 492/3 | €52 | €2,205 | +€2,153 | +4169.2% |
| Non-recurring operating income | 76A | €54,000 | €12,000 | -€42,000 | -77.8% |
| Remuneration, social security and pensions | 62 | €353,575 | €226,398 | -€127,177 | -36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,770 | €102,852 | -€19,918 | -16.2% |
| Other operating charges | 640/8 | €6,123 | €2,277 | -€3,846 | -62.8% |
| Gross operating margin | 9900 | €514,147 | €499,323 | -€14,823 | -2.9% |
| Operating profit (loss) | 9901 | €31,679 | €167,796 | +€136,117 | +429.7% |
| Financial income | 75/76B | €5,377 | €3,117 | -€2,260 | -42.0% |
| Recurring financial income | 75 | €5,377 | €3,117 | -€2,260 | -42.0% |
| Financial charges | 65/66B | €17,497 | €17,039 | -€458 | -2.6% |
| Recurring financial charges | 65 | €17,497 | €17,039 | -€458 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €19,559 | €153,873 | +€134,315 | +686.7% |
| Transfer from deferred taxes | 780 | €2,000 | €2,000 | = | 0.0% |
| Income taxes | 67/77 | €7,825 | €41,820 | +€33,995 | +434.4% |
| Profit (loss) for the period | 9904 | €13,734 | €114,053 | +€100,319 | +730.5% |
| Transfer from tax-exempt reserves | 789 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,734 | €120,053 | +€100,319 | +508.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.