STEYAERT: 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.
STEYAERT
Largest movements
- Tangible fixed assets +€354,369
up €354,369 (+1881.4%), from €18,835 to €373,204
of which Land and buildings: +€334,511
- Cash -€87,383
down €87,383 (-55.0%), from €158,954 to €71,571
mainly Investment in fixed assets (net) (-€364,049) and Receivables within one year (-€37,324)
- Receivables within one year +€37,324
up €37,324 (+57.0%), from €65,521 to €102,844
of which Other amounts receivable: +€37,501
- Debts after one year +€290,049
new in 2025: €290,049
- Current portion of long-term debt +€23,014
new in 2025: €23,014
- Accrued charges and deferred income +€22,979
new in 2025: €22,979
- Trade debts -€21,464
down €21,464 (-45.4%), from €47,258 to €25,794
- Tax, wage and social debts -€19,488
down €19,488 (-100.0%), from €19,488 to €0
- Gross operating margin -€23,822
down €23,822 (-21.8%), from €109,207 to €85,385
- Other operating charges +€18,860
up €18,860 (+3305.4%), from €571 to €19,430
- Taxes -€15,859
down €15,859 (-57.0%), from €27,839 to €11,980
- Financial charges +€8,448
up €8,448 (+121.4%), from €6,957 to €15,405
of which Financial charges: +€8,448
- Depreciation +€5,245
up €5,245 (+118.2%), from €4,435 to €9,680
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 | €280,261 | €592,568 | +€312,307 | +111.4% |
| Fixed assets | 21/28 | €18,835 | €373,204 | +€354,369 | +1881.4% |
| Tangible fixed assets | 22/27 | €18,835 | €373,204 | +€354,369 | +1881.4% |
| Land and buildings | 22 | €5,000 | €339,511 | +€334,511 | +6690.2% |
| Plant, machinery and equipment | 23 | €1,957 | €1,279 | -€677 | -34.6% |
| Furniture and vehicles | 24 | €6,044 | €27,767 | +€21,723 | +359.4% |
| Other tangible fixed assets | 26 | €5,835 | €4,647 | -€1,188 | -20.4% |
| Current assets | 29/58 | €261,425 | €219,364 | -€42,062 | -16.1% |
| Amounts receivable within one year | 40/41 | €65,521 | €102,844 | +€37,324 | +57.0% |
| Trade receivables | 40 | €60,604 | €60,427 | -€177 | -0.3% |
| Other amounts receivable | 41 | €4,916 | €42,417 | +€37,501 | +762.8% |
| Current investments | 50/53 | €33,180 | €37,655 | +€4,475 | +13.5% |
| Cash at bank and in hand | 54/58 | €158,954 | €71,571 | -€87,383 | -55.0% |
| Deferred charges and accrued income | 490/1 | €3,771 | €7,294 | +€3,523 | +93.4% |
| Total equity and liabilities | 10/49 | €280,261 | €592,568 | +€312,307 | +111.4% |
| Equity | 10/15 | €212,349 | €224,856 | +€12,508 | +5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €193,749 | €206,256 | +€12,508 | +6.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €193,749 | €206,256 | +€12,508 | +6.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €67,912 | €367,712 | +€299,800 | +441.5% |
| Amounts payable after more than one year | 17 | - | €290,049 | +€290,049 | |
| Financial debts | 170/4 | - | €290,049 | +€290,049 | |
| Amounts payable within one year | 42/48 | €67,912 | €54,683 | -€13,229 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | - | €23,014 | +€23,014 | |
| Trade debts | 44 | €47,258 | €25,794 | -€21,464 | -45.4% |
| Suppliers | 440/4 | €47,258 | €25,794 | -€21,464 | -45.4% |
| Taxes, remuneration and social security | 45 | €19,488 | €0 | -€19,488 | -100.0% |
| Taxes | 450/3 | €19,488 | €0 | -€19,488 | -100.0% |
| Other amounts payable | 47/48 | €1,166 | €5,876 | +€4,709 | +403.8% |
| Accrued charges and deferred income | 492/3 | - | €22,979 | +€22,979 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,435 | €9,680 | +€5,245 | +118.2% |
| Other operating charges | 640/8 | €571 | €19,430 | +€18,860 | +3305.4% |
| Gross operating margin | 9900 | €109,207 | €85,385 | -€23,822 | -21.8% |
| Operating profit (loss) | 9901 | €104,201 | €56,275 | -€47,926 | -46.0% |
| Financial income | 75/76B | €3,181 | €335 | -€2,846 | -89.5% |
| Recurring financial income | 75 | €430 | €335 | -€95 | -22.0% |
| Non-recurring financial income | 76B | €2,751 | €0 | -€2,751 | -100.0% |
| Financial charges | 65/66B | €6,957 | €15,405 | +€8,448 | +121.4% |
| Recurring financial charges | 65 | €6,957 | €15,405 | +€8,448 | +121.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €100,426 | €41,205 | -€59,220 | -59.0% |
| Income taxes | 67/77 | €27,839 | €11,980 | -€15,859 | -57.0% |
| Profit (loss) for the period | 9904 | €72,587 | €29,226 | -€43,361 | -59.7% |
| Profit (loss) for the period to be appropriated | 9905 | €72,587 | €29,226 | -€43,361 | -59.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.