Stien & Zo: 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.
Stien & Zo
Largest movements
- Receivables within one year +€18,730
up €18,730 (+169%), from €11,050 to €29,780
of which Trade receivables: +€12,784
- Cash +€7,106
up €7,106 (+183%), from €3,886 to €10,992
mainly Net result for the year (+€25,099) and Other debts (+€20,000)
- Tangible fixed assets +€659
up €659 (+40.7%), from €1,620 to €2,279
- Other debts +€20,000
new in 2025: €20,000
- Profit (loss) carried forward +€5,099
up €5,099 (+44.5%), from €11,464 to €16,563
- Tax, wage and social debts +€1,396
up €1,396 (+43.4%), from €3,216 to €4,611
- Gross operating margin +€24,701
up €24,701 (+263%), from €9,384 to €34,085
- Taxes +€5,570
up €5,570 (+360%), from €1,546 to €7,116
- Depreciation +€405
up €405 (+48.7%), from €833 to €1,238
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 | €17,175 | €43,667 | +€26,492 | +154% |
| Formation expenses | 20 | €518 | €248 | -€270 | -52.2% |
| Fixed assets | 21/28 | €1,620 | €2,279 | +€659 | +40.7% |
| Tangible fixed assets | 22/27 | €1,620 | €2,279 | +€659 | +40.7% |
| Furniture and vehicles | 24 | €1,620 | €2,279 | +€659 | +40.7% |
| Current assets | 29/58 | €15,038 | €41,140 | +€26,103 | +174% |
| Amounts receivable within one year | 40/41 | €11,050 | €29,780 | +€18,730 | +169% |
| Trade receivables | 40 | €1,980 | €14,764 | +€12,784 | +646% |
| Other amounts receivable | 41 | €9,070 | €15,016 | +€5,945 | +65.5% |
| Cash at bank and in hand | 54/58 | €3,886 | €10,992 | +€7,106 | +183% |
| Deferred charges and accrued income | 490/1 | €102 | €368 | +€266 | +262% |
| Total equity and liabilities | 10/49 | €17,175 | €43,667 | +€26,492 | +154% |
| Equity | 10/15 | €12,964 | €18,063 | +€5,099 | +39.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,464 | €16,563 | +€5,099 | +44.5% |
| Amounts payable | 17/49 | €4,211 | €25,604 | +€21,393 | +508% |
| Amounts payable within one year | 42/48 | €4,211 | €25,447 | +€21,235 | +504% |
| Trade debts | 44 | €996 | €835 | -€160 | -16.1% |
| Suppliers | 440/4 | €996 | €835 | -€160 | -16.1% |
| Taxes, remuneration and social security | 45 | €3,216 | €4,611 | +€1,396 | +43.4% |
| Taxes | 450/3 | €3,216 | €4,611 | +€1,396 | +43.4% |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Accrued charges and deferred income | 492/3 | - | €158 | +€158 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €833 | €1,238 | +€405 | +48.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €9,384 | €34,085 | +€24,701 | +263% |
| Operating profit (loss) | 9901 | €8,164 | €32,448 | +€24,284 | +297% |
| Financial charges | 65/66B | €87 | €233 | +€146 | +168% |
| Recurring financial charges | 65 | €87 | €233 | +€146 | +168% |
| Profit (loss) for the period before taxes | 9903 | €8,077 | €32,215 | +€24,138 | +299% |
| Income taxes | 67/77 | €1,546 | €7,116 | +€5,570 | +360% |
| Profit (loss) for the period | 9904 | €6,531 | €25,099 | +€18,568 | +284% |
| Profit (loss) for the period to be appropriated | 9905 | €6,531 | €25,099 | +€18,568 | +284% |
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 29 October 2026 via checked.be.