STIEP: 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.
STIEP
Largest movements
- Tangible fixed assets -€3,267
down €3,267 (-10.2%), from €32,148 to €28,881
of which Other tangible fixed assets: -€3,572
- Cash -€2,431
down €2,431 (-5.5%), from €44,484 to €42,054
mainly Contributions, distributions and other (-€47,232) and Debts after one year (-€5,619)
- Tax, wage and social debts +€12,556
up €12,556 (+65.2%), from €19,244 to €31,800
of which Remuneration and social security: +€12,427
- Contributions -€12,300
down €12,300 (-99.2%), from €12,400 to €100
- Debts after one year -€5,619
down €5,619 (-64.0%), from €8,786 to €3,167
- Staff costs +€25,689
up €25,689 (+15.4%), from €166,560 to €192,250
- Gross operating margin +€25,271
up €25,271 (+11.6%), from €218,523 to €243,794
- Depreciation -€8,552
down €8,552 (-65.0%), from €13,157 to €4,605
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 | €91,887 | €85,209 | -€6,677 | -7.3% |
| Fixed assets | 21/28 | €32,148 | €28,881 | -€3,267 | -10.2% |
| Tangible fixed assets | 22/27 | €32,148 | €28,881 | -€3,267 | -10.2% |
| Plant, machinery and equipment | 23 | €1,913 | €2,383 | +€471 | +24.6% |
| Furniture and vehicles | 24 | €458 | €292 | -€166 | -36.2% |
| Other tangible fixed assets | 26 | €29,777 | €26,205 | -€3,572 | -12.0% |
| Current assets | 29/58 | €59,739 | €56,329 | -€3,410 | -5.7% |
| Stocks and contracts in progress | 3 | €7,258 | €6,388 | -€870 | -12.0% |
| Stocks | 30/36 | €7,258 | €6,388 | -€870 | -12.0% |
| Amounts receivable within one year | 40/41 | €4,036 | €3,929 | -€107 | -2.6% |
| Trade receivables | 40 | €1,034 | €470 | -€564 | -54.5% |
| Other amounts receivable | 41 | €3,002 | €3,459 | +€457 | +15.2% |
| Cash at bank and in hand | 54/58 | €44,484 | €42,054 | -€2,431 | -5.5% |
| Deferred charges and accrued income | 490/1 | €3,961 | €3,958 | -€3 | -0.1% |
| Total equity and liabilities | 10/49 | €91,887 | €85,209 | -€6,677 | -7.3% |
| Equity | 10/15 | €12,400 | €100 | -€12,300 | -99.2% |
| Contributions | 10/11 | €12,400 | €100 | -€12,300 | -99.2% |
| Amounts payable | 17/49 | €79,487 | €85,109 | +€5,623 | +7.1% |
| Amounts payable after more than one year | 17 | €8,786 | €3,167 | -€5,619 | -64.0% |
| Financial debts | 170/4 | €8,786 | €3,167 | -€5,619 | -64.0% |
| Amounts payable within one year | 42/48 | €69,065 | €81,036 | +€11,971 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €5,864 | €5,619 | -€245 | -4.2% |
| Trade debts | 44 | €8,509 | €8,388 | -€121 | -1.4% |
| Suppliers | 440/4 | €8,509 | €8,388 | -€121 | -1.4% |
| Taxes, remuneration and social security | 45 | €19,244 | €31,800 | +€12,556 | +65.2% |
| Taxes | 450/3 | €10,740 | €10,869 | +€130 | +1.2% |
| Remuneration and social security | 454/9 | €8,504 | €20,931 | +€12,427 | +146% |
| Other amounts payable | 47/48 | €35,448 | €35,228 | -€220 | -0.6% |
| Accrued charges and deferred income | 492/3 | €1,635 | €906 | -€729 | -44.6% |
| Remuneration, social security and pensions | 62 | €166,560 | €192,250 | +€25,689 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,157 | €4,605 | -€8,552 | -65.0% |
| Other operating charges | 640/8 | €939 | €1,279 | +€340 | +36.3% |
| Gross operating margin | 9900 | €218,523 | €243,794 | +€25,271 | +11.6% |
| Operating profit (loss) | 9901 | €37,868 | €45,661 | +€7,793 | +20.6% |
| Financial income | 75/76B | €442 | €320 | -€122 | -27.7% |
| Recurring financial income | 75 | €442 | €320 | -€122 | -27.7% |
| Financial charges | 65/66B | €1,489 | €937 | -€552 | -37.1% |
| Recurring financial charges | 65 | €1,489 | €937 | -€552 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | €36,821 | €45,044 | +€8,223 | +22.3% |
| Income taxes | 67/77 | €8,133 | €10,112 | +€1,978 | +24.3% |
| Profit (loss) for the period | 9904 | €28,688 | €34,932 | +€6,245 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,688 | €34,932 | +€6,245 | +21.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.