STEDEMO: what changed
STEDEMO
Largest movements
- Tangible fixed assets +€126,194
up €126,194 (+177%), from €71,402 to €197,596
of which Land and buildings: +€146,052
- Current investments +€32,378
up €32,378 (+33.4%), from €97,073 to €129,452
- Receivables within one year +€32,095
up €32,095 (+86.7%), from €37,021 to €69,117
of which Trade receivables: +€31,999
- Financial fixed assets -€9,107
down €9,107 (-30.4%), from €30,000 to €20,893
- Cash +€5,731
up €5,731 (+8.3%), from €69,123 to €74,854
mainly Debts after one year (+€121,040) and Net result for the year (+€74,174)
- Debts after one year +€121,040
up €121,040, from €0 to €121,040
- Reserves +€73,086
up €73,086 (+29.1%), from €251,140 to €324,226
of which Distributable reserves: +€73,086
- Trade debts -€13,278
down €13,278 (-88.5%), from €15,001 to €1,723
- Current portion of long-term debt +€5,163
up €5,163 (+71.2%), from €7,247 to €12,409
- Financial charges -€26,584
down €26,584, from €20,468 to -€6,116
- Financial income +€19,158
up €19,158 (+346%), from €5,542 to €24,699
- Depreciation +€17,442
up €17,442 (+89.6%), from €19,477 to €36,920
- Taxes +€1,872
up €1,872 (+9.9%), from €18,905 to €20,777
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 | €307,916 | €495,461 | +€187,545 | +60.9% |
| Fixed assets | 21/28 | €101,402 | €218,489 | +€117,087 | +115% |
| Tangible fixed assets | 22/27 | €71,402 | €197,596 | +€126,194 | +177% |
| Land and buildings | 22 | - | €146,052 | +€146,052 | |
| Plant, machinery and equipment | 23 | €4,657 | €3,334 | -€1,322 | -28.4% |
| Furniture and vehicles | 24 | €66,746 | €48,210 | -€18,536 | -27.8% |
| Financial fixed assets | 28 | €30,000 | €20,893 | -€9,107 | -30.4% |
| Current assets | 29/58 | €206,514 | €276,972 | +€70,458 | +34.1% |
| Amounts receivable within one year | 40/41 | €37,021 | €69,117 | +€32,095 | +86.7% |
| Trade receivables | 40 | €36,971 | €68,970 | +€31,999 | +86.5% |
| Other amounts receivable | 41 | €50 | €147 | +€97 | +193% |
| Current investments | 50/53 | €97,073 | €129,452 | +€32,378 | +33.4% |
| Cash at bank and in hand | 54/58 | €69,123 | €74,854 | +€5,731 | +8.3% |
| Deferred charges and accrued income | 490/1 | €3,297 | €3,550 | +€254 | +7.7% |
| Total equity and liabilities | 10/49 | €307,916 | €495,461 | +€187,545 | +60.9% |
| Equity | 10/15 | €270,375 | €342,831 | +€72,456 | +26.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €251,140 | €324,226 | +€73,086 | +29.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €251,140 | €324,226 | +€73,086 | +29.1% |
| Profit (loss) carried forward | 14 | €634 | €5 | -€630 | -99.3% |
| Amounts payable | 17/49 | €37,542 | €152,630 | +€115,089 | +307% |
| Amounts payable after more than one year | 17 | €0 | €121,040 | +€121,040 | |
| Financial debts | 170/4 | €0 | €121,040 | +€121,040 | |
| Amounts payable within one year | 42/48 | €37,542 | €30,252 | -€7,289 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €7,247 | €12,409 | +€5,163 | +71.2% |
| Trade debts | 44 | €15,001 | €1,723 | -€13,278 | -88.5% |
| Suppliers | 440/4 | €15,001 | €1,723 | -€13,278 | -88.5% |
| Taxes, remuneration and social security | 45 | €9,938 | €8,929 | -€1,009 | -10.2% |
| Taxes | 450/3 | €7,738 | €6,729 | -€1,009 | -13.0% |
| Remuneration and social security | 454/9 | €2,200 | €2,200 | = | 0.0% |
| Other amounts payable | 47/48 | €5,356 | €7,191 | +€1,835 | +34.3% |
| Accrued charges and deferred income | 492/3 | - | €1,338 | +€1,338 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,477 | €36,920 | +€17,442 | +89.6% |
| Other operating charges | 640/8 | €1,874 | €829 | -€1,045 | -55.8% |
| Non-recurring operating charges | 66A | €6,525 | €9,107 | +€2,583 | +39.6% |
| Gross operating margin | 9900 | €110,044 | €110,991 | +€947 | +0.9% |
| Operating profit (loss) | 9901 | €82,168 | €64,135 | -€18,033 | -21.9% |
| Financial income | 75/76B | €5,542 | €24,699 | +€19,158 | +346% |
| Recurring financial income | 75 | €5,542 | €24,699 | +€19,158 | +346% |
| Financial charges | 65/66B | €20,468 | -€6,116 | -€26,584 | |
| Recurring financial charges | 65 | €20,468 | -€6,116 | -€26,584 | |
| Profit (loss) for the period before taxes | 9903 | €67,242 | €94,951 | +€27,709 | +41.2% |
| Income taxes | 67/77 | €18,905 | €20,777 | +€1,872 | +9.9% |
| Profit (loss) for the period | 9904 | €48,338 | €74,174 | +€25,837 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,338 | €74,174 | +€25,837 | +53.5% |
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 4 November 2026 via checked.be.