STEYN BELGIUM: 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.
STEYN BELGIUM
Largest movements
- Cash +€1.4m
up €1.4m (+70.1%), from €2.0m to €3.4m
mainly Current investments (+€1.2m) and Net result for the year (+€169,875)
- Current investments -€1.2m
down €1.2m (-74.0%), from €1.7m to €433,866
- Reserves +€169,875
up €169,875 (+5.1%), from €3.3m to €3.5m
of which Distributable reserves: +€169,875
- Financial income +€82,641
up €82,641 (+53.7%), from €153,882 to €236,523
- Gross operating margin -€43,135
down €43,135 (-124%), from -€34,654 to -€77,789
- Financial charges -€39,102
down €39,102 (-136%), from -€28,746 to -€67,848
- Depreciation -€13,296
down €13,296 (-33.5%), from €39,646 to €26,350
- Taxes +€8,785
up €8,785 (+44.3%), from €19,832 to €28,617
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 | €4,873,401 | €5,031,914 | +€158,513 | +3.3% |
| Fixed assets | 21/28 | €152,315 | €131,893 | -€20,422 | -13.4% |
| Tangible fixed assets | 22/27 | €151,317 | €130,894 | -€20,422 | -13.5% |
| Land and buildings | 22 | €49,798 | €56,756 | +€6,958 | +14.0% |
| Furniture and vehicles | 24 | €101,518 | €74,138 | -€27,380 | -27.0% |
| Financial fixed assets | 28 | €999 | €999 | = | 0.0% |
| Current assets | 29/58 | €4,721,086 | €4,900,021 | +€178,935 | +3.8% |
| Amounts receivable within one year | 40/41 | €1,043,493 | €1,057,728 | +€14,235 | +1.4% |
| Trade receivables | 40 | €1,429 | €0 | -€1,429 | -100% |
| Other amounts receivable | 41 | €1,042,064 | €1,057,728 | +€15,664 | +1.5% |
| Current investments | 50/53 | €1,666,923 | €433,866 | -€1.2m | -74.0% |
| Cash at bank and in hand | 54/58 | €2,003,877 | €3,408,427 | +€1.4m | +70.1% |
| Deferred charges and accrued income | 490/1 | €6,792 | €0 | -€6,792 | -100% |
| Total equity and liabilities | 10/49 | €4,873,401 | €5,031,914 | +€158,513 | +3.3% |
| Equity | 10/15 | €4,837,740 | €5,007,616 | +€169,875 | +3.5% |
| Contributions | 10/11 | €1,500,005 | €1,500,005 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Contributions outside capital | 11 | €5 | €5 | = | 0.0% |
| Share premium | 1100/10 | €5 | €5 | = | 0.0% |
| Reserves | 13 | €3,337,735 | €3,507,610 | +€169,875 | +5.1% |
| Non-distributable reserves | 130/1 | €150,000 | €150,000 | = | 0.0% |
| Legal reserve | 130 | €150,000 | €150,000 | = | 0.0% |
| Distributable reserves | 133 | €3,187,735 | €3,357,610 | +€169,875 | +5.3% |
| Amounts payable | 17/49 | €35,661 | €24,299 | -€11,362 | -31.9% |
| Amounts payable within one year | 42/48 | €35,661 | €24,299 | -€11,362 | -31.9% |
| Trade debts | 44 | - | €960 | +€960 | |
| Suppliers | 440/4 | - | €960 | +€960 | |
| Taxes, remuneration and social security | 45 | - | €1,237 | +€1,237 | |
| Taxes | 450/3 | - | €1,237 | +€1,237 | |
| Other amounts payable | 47/48 | €35,661 | €22,101 | -€13,560 | -38.0% |
| Non-recurring operating income | 76A | €22,448 | €47,674 | +€25,227 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,646 | €26,350 | -€13,296 | -33.5% |
| Other operating charges | 640/8 | €5,242 | €1,740 | -€3,502 | -66.8% |
| Gross operating margin | 9900 | -€34,654 | -€77,789 | -€43,135 | -124% |
| Operating profit (loss) | 9901 | -€79,542 | -€105,879 | -€26,337 | -33.1% |
| Financial income | 75/76B | €153,882 | €236,523 | +€82,641 | +53.7% |
| Recurring financial income | 75 | €153,882 | €236,523 | +€82,641 | +53.7% |
| Financial charges | 65/66B | -€28,746 | -€67,848 | -€39,102 | -136% |
| Recurring financial charges | 65 | -€28,746 | -€67,848 | -€39,102 | -136% |
| Profit (loss) for the period before taxes | 9903 | €103,086 | €198,492 | +€95,406 | +92.6% |
| Income taxes | 67/77 | €19,832 | €28,617 | +€8,785 | +44.3% |
| Profit (loss) for the period | 9904 | €83,254 | €169,875 | +€86,621 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €83,254 | €169,875 | +€86,621 | +104% |
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 24 October 2026 via checked.be.