STEF CONSTRUCTIONS: what changed
STEF CONSTRUCTIONS
Largest movements
- Receivables within one year -€51,530
down €51,530 (-45.8%), from €112,506 to €60,976
of which Trade receivables: -€50,701
- Cash +€51,006
up €51,006 (+110%), from €46,447 to €97,453
mainly Receivables within one year (+€51,530) and Net result for the year (+€47,733)
- Tangible fixed assets +€50,740
up €50,740 (+371%), from €13,682 to €64,423
of which Furniture and vehicles: +€51,273
- Deferred charges and accrued income +€6,675
up €6,675 (+223%), from €2,994 to €9,669
- Trade debts +€33,141
up €33,141 (+805%), from €4,116 to €37,257
- Tax, wage and social debts +€23,827
up €23,827 (+271%), from €8,800 to €32,627
of which Taxes: +€17,827
- Other debts +€19,203
up €19,203 (+157%), from €12,205 to €31,408
- Debts after one year -€13,108
down €13,108 (-23.3%), from €56,156 to €43,048
- Reserves -€8,387
down €8,387 (-10.9%), from €77,179 to €68,792
of which Distributable reserves: -€8,387
- Gross operating margin +€56,745
up €56,745 (+144%), from €39,344 to €96,089
- Depreciation +€12,535
up €12,535 (+139%), from €9,019 to €21,554
- Taxes +€12,129
up €12,129 (+172%), from €7,045 to €19,174
- Financial charges +€4,257
up €4,257 (+872%), from €488 to €4,745
- Other operating charges +€2,347
up €2,347 (+437%), from €537 to €2,884
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €175,889 | €232,781 | +€56,891 | +32.3% |
| Fixed assets | 21/28 | €13,942 | €64,683 | +€50,740 | +364% |
| Tangible fixed assets | 22/27 | €13,682 | €64,423 | +€50,740 | +371% |
| Plant, machinery and equipment | 23 | €1,128 | €595 | -€533 | -47.2% |
| Furniture and vehicles | 24 | €12,554 | €63,827 | +€51,273 | +408% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €161,947 | €168,098 | +€6,151 | +3.8% |
| Amounts receivable within one year | 40/41 | €112,506 | €60,976 | -€51,530 | -45.8% |
| Trade receivables | 40 | €106,975 | €56,275 | -€50,701 | -47.4% |
| Other amounts receivable | 41 | €5,531 | €4,701 | -€829 | -15.0% |
| Cash at bank and in hand | 54/58 | €46,447 | €97,453 | +€51,006 | +110% |
| Deferred charges and accrued income | 490/1 | €2,994 | €9,669 | +€6,675 | +223% |
| Total equity and liabilities | 10/49 | €175,889 | €232,781 | +€56,891 | +32.3% |
| Equity | 10/15 | €82,081 | €74,992 | -€7,089 | -8.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,179 | €68,792 | -€8,387 | -10.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €77,179 | €68,792 | -€8,387 | -10.9% |
| Profit (loss) carried forward | 14 | -€1,298 | €0 | +€1,298 | |
| Amounts payable | 17/49 | €93,809 | €157,789 | +€63,980 | +68.2% |
| Amounts payable after more than one year | 17 | €56,156 | €43,048 | -€13,108 | -23.3% |
| Financial debts | 170/4 | €56,156 | €43,048 | -€13,108 | -23.3% |
| Amounts payable within one year | 42/48 | €37,653 | €114,400 | +€76,747 | +204% |
| Current portion of amounts payable after more than one year | 42 | €12,532 | €13,108 | +€576 | +4.6% |
| Trade debts | 44 | €4,116 | €37,257 | +€33,141 | +805% |
| Suppliers | 440/4 | €4,116 | €37,257 | +€33,141 | +805% |
| Taxes, remuneration and social security | 45 | €8,800 | €32,627 | +€23,827 | +271% |
| Taxes | 450/3 | €0 | €17,827 | +€17,827 | |
| Remuneration and social security | 454/9 | €8,800 | €14,800 | +€6,000 | +68.2% |
| Other amounts payable | 47/48 | €12,205 | €31,408 | +€19,203 | +157% |
| Accrued charges and deferred income | 492/3 | €0 | €341 | +€341 | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,019 | €21,554 | +€12,535 | +139% |
| Other operating charges | 640/8 | €537 | €2,884 | +€2,347 | +437% |
| Gross operating margin | 9900 | €39,344 | €96,089 | +€56,745 | +144% |
| Operating profit (loss) | 9901 | €29,788 | €71,651 | +€41,863 | +141% |
| Financial income | 75/76B | €102 | €1 | -€101 | -99.3% |
| Recurring financial income | 75 | €102 | €1 | -€101 | -99.3% |
| Financial charges | 65/66B | €488 | €4,745 | +€4,257 | +872% |
| Recurring financial charges | 65 | €488 | €4,745 | +€4,257 | +872% |
| Profit (loss) for the period before taxes | 9903 | €29,402 | €66,907 | +€37,505 | +128% |
| Income taxes | 67/77 | €7,045 | €19,174 | +€12,129 | +172% |
| Profit (loss) for the period | 9904 | €22,356 | €47,733 | +€25,377 | +114% |
| Profit (loss) for the period to be appropriated | 9905 | €22,356 | €47,733 | +€25,377 | +114% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.