VAN STEIRTEGEM RS: 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.
VAN STEIRTEGEM RS
Largest movements
- Tangible fixed assets +€174,926
up €174,926 (+806%), from €21,692 to €196,617
of which Plant, machinery and equipment: +€182,260
- Cash +€11,428
up €11,428 (+10.1%), from €113,482 to €124,910
mainly Debts after one year (+€179,000) and Depreciation (+€15,074)
- Receivables within one year -€6,420
down €6,420 (-96.4%), from €6,662 to €242
of which Trade receivables: -€6,407
- Debts after one year +€179,000
up €179,000 (+358%), from €50,000 to €229,000
- Trade debts -€11,090
down €11,090 (-95.0%), from €11,679 to €589
- Reserves +€6,995
up €6,995 (+16.8%), from €41,571 to €48,566
- Depreciation +€8,277
up €8,277 (+122%), from €6,797 to €15,074
- Gross operating margin -€4,630
down €4,630 (-14.3%), from €32,423 to €27,793
- Financial charges +€4,054
up €4,054 (+2,600%), from €156 to €4,210
- Taxes -€3,020
down €3,020 (-81.4%), from €3,711 to €691
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 | €141,841 | €321,775 | +€179,934 | +127% |
| Fixed assets | 21/28 | €21,697 | €196,622 | +€174,926 | +806% |
| Tangible fixed assets | 22/27 | €21,692 | €196,617 | +€174,926 | +806% |
| Plant, machinery and equipment | 23 | €329 | €182,589 | +€182,260 | +55,339% |
| Furniture and vehicles | 24 | €7,435 | €3,526 | -€3,909 | -52.6% |
| Other tangible fixed assets | 26 | €13,927 | €10,503 | -€3,425 | -24.6% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €120,144 | €125,152 | +€5,008 | +4.2% |
| Amounts receivable within one year | 40/41 | €6,662 | €242 | -€6,420 | -96.4% |
| Trade receivables | 40 | €6,649 | €242 | -€6,407 | -96.4% |
| Other amounts receivable | 41 | €12 | €0 | -€12 | -100% |
| Cash at bank and in hand | 54/58 | €113,482 | €124,910 | +€11,428 | +10.1% |
| Total equity and liabilities | 10/49 | €141,841 | €321,775 | +€179,934 | +127% |
| Equity | 10/15 | €60,121 | €67,116 | +€6,995 | +11.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €41,571 | €48,566 | +€6,995 | +16.8% |
| Distributable reserves | 133 | €41,571 | €48,566 | +€6,995 | +16.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €81,720 | €254,659 | +€172,939 | +212% |
| Amounts payable after more than one year | 17 | €50,000 | €229,000 | +€179,000 | +358% |
| Financial debts | 170/4 | €50,000 | €229,000 | +€179,000 | +358% |
| Amounts payable within one year | 42/48 | €31,720 | €25,659 | -€6,061 | -19.1% |
| Trade debts | 44 | €11,679 | €589 | -€11,090 | -95.0% |
| Suppliers | 440/4 | €11,679 | €589 | -€11,090 | -95.0% |
| Taxes, remuneration and social security | 45 | €3,711 | €6,104 | +€2,393 | +64.5% |
| Taxes | 450/3 | €3,711 | €6,104 | +€2,393 | +64.5% |
| Other amounts payable | 47/48 | €16,330 | €18,966 | +€2,636 | +16.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,797 | €15,074 | +€8,277 | +122% |
| Other operating charges | 640/8 | €1,047 | €1,005 | -€42 | -4.1% |
| Gross operating margin | 9900 | €32,423 | €27,793 | -€4,630 | -14.3% |
| Operating profit (loss) | 9901 | €24,578 | €11,713 | -€12,865 | -52.3% |
| Financial income | 75/76B | - | €182 | +€182 | |
| Recurring financial income | 75 | - | €182 | +€182 | |
| Financial charges | 65/66B | €156 | €4,210 | +€4,054 | +2,600% |
| Recurring financial charges | 65 | €156 | €4,210 | +€4,054 | +2,600% |
| Profit (loss) for the period before taxes | 9903 | €24,422 | €7,685 | -€16,737 | -68.5% |
| Income taxes | 67/77 | €3,711 | €691 | -€3,020 | -81.4% |
| Profit (loss) for the period | 9904 | €20,712 | €6,995 | -€13,717 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,712 | €6,995 | -€13,717 | -66.2% |
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 25 October 2026 via checked.be.