STABIREM: 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.
STABIREM
Largest movements
- Receivables within one year +€20,495
up €20,495 (+17.6%), from €116,507 to €137,001
of which Trade receivables: +€12,590
- Cash -€18,717
down €18,717 (-8.8%), from €212,095 to €193,378
mainly Tax, wage and social debts (-€22,419) and Trade debts (-€22,188)
- Stocks and contracts +€5,583
up €5,583 (+54.0%), from €10,339 to €15,922
- Receivables after one year +€5,000
new in 2025: €5,000
- Reserves +€47,872
up €47,872 (+27.3%), from €175,324 to €223,196
of which Distributable reserves: +€47,872
- Tax, wage and social debts -€22,419
down €22,419 (-29.7%), from €75,610 to €53,191
of which Taxes: -€22,921
- Trade debts -€22,188
down €22,188 (-25.1%), from €88,350 to €66,163
- Current portion of long-term debt +€13,090
up €13,090 (+30.5%), from €42,974 to €56,064
- Debts after one year -€7,009
down €7,009 (-36.3%), from €19,321 to €12,311
- Gross operating margin -€25,992
down €25,992 (-6.4%), from €403,513 to €377,520
- Depreciation +€8,326
up €8,326 (+55.1%), from €15,110 to €23,436
- Taxes -€5,650
down €5,650 (-17.1%), from €32,967 to €27,317
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 | €425,523 | €435,770 | +€10,247 | +2.4% |
| Fixed assets | 21/28 | €80,229 | €78,537 | -€1,691 | -2.1% |
| Tangible fixed assets | 22/27 | €80,229 | €78,537 | -€1,691 | -2.1% |
| Plant, machinery and equipment | 23 | €27,998 | €23,174 | -€4,824 | -17.2% |
| Furniture and vehicles | 24 | €41,731 | €44,863 | +€3,132 | +7.5% |
| Assets under construction and advance payments | 27 | €10,500 | €10,500 | = | 0.0% |
| Current assets | 29/58 | €345,294 | €357,233 | +€11,938 | +3.5% |
| Amounts receivable after more than one year | 29 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 291 | - | €5,000 | +€5,000 | |
| Stocks and contracts in progress | 3 | €10,339 | €15,922 | +€5,583 | +54.0% |
| Stocks | 30/36 | €10,339 | €15,922 | +€5,583 | +54.0% |
| Amounts receivable within one year | 40/41 | €116,507 | €137,001 | +€20,495 | +17.6% |
| Trade receivables | 40 | €26,829 | €39,419 | +€12,590 | +46.9% |
| Other amounts receivable | 41 | €89,677 | €97,583 | +€7,905 | +8.8% |
| Cash at bank and in hand | 54/58 | €212,095 | €193,378 | -€18,717 | -8.8% |
| Deferred charges and accrued income | 490/1 | €6,354 | €5,931 | -€422 | -6.6% |
| Total equity and liabilities | 10/49 | €425,523 | €435,770 | +€10,247 | +2.4% |
| Equity | 10/15 | €184,532 | €232,404 | +€47,872 | +25.9% |
| Contributions | 10/11 | €1,166 | €1,166 | = | 0.0% |
| Reserves | 13 | €175,324 | €223,196 | +€47,872 | +27.3% |
| Non-distributable reserves | 130/1 | €117 | €117 | = | 0.0% |
| Reserves not available under the articles | 1311 | €117 | €117 | = | 0.0% |
| Distributable reserves | 133 | €175,208 | €223,079 | +€47,872 | +27.3% |
| Profit (loss) carried forward | 14 | €8,042 | €8,042 | = | 0.0% |
| Amounts payable | 17/49 | €240,991 | €203,366 | -€37,624 | -15.6% |
| Amounts payable after more than one year | 17 | €19,321 | €12,311 | -€7,009 | -36.3% |
| Financial debts | 170/4 | €19,321 | €12,311 | -€7,009 | -36.3% |
| Amounts payable within one year | 42/48 | €221,670 | €190,537 | -€31,133 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €42,974 | €56,064 | +€13,090 | +30.5% |
| Trade debts | 44 | €88,350 | €66,163 | -€22,188 | -25.1% |
| Suppliers | 440/4 | €88,350 | €66,163 | -€22,188 | -25.1% |
| Advances received on contracts in progress | 46 | €2,581 | €2,581 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €75,610 | €53,191 | -€22,419 | -29.7% |
| Taxes | 450/3 | €52,587 | €29,666 | -€22,921 | -43.6% |
| Remuneration and social security | 454/9 | €23,023 | €23,525 | +€502 | +2.2% |
| Other amounts payable | 47/48 | €12,155 | €12,539 | +€384 | +3.2% |
| Accrued charges and deferred income | 492/3 | €0 | €518 | +€518 | |
| Remuneration, social security and pensions | 62 | €272,703 | €271,117 | -€1,586 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,110 | €23,436 | +€8,326 | +55.1% |
| Other operating charges | 640/8 | €4,527 | €4,006 | -€522 | -11.5% |
| Gross operating margin | 9900 | €403,513 | €377,520 | -€25,992 | -6.4% |
| Operating profit (loss) | 9901 | €111,172 | €78,961 | -€32,211 | -29.0% |
| Financial income | 75/76B | €103 | €918 | +€815 | +792% |
| Recurring financial income | 75 | €103 | €918 | +€815 | +792% |
| Financial charges | 65/66B | €2,770 | €4,691 | +€1,921 | +69.4% |
| Recurring financial charges | 65 | €2,770 | €4,691 | +€1,921 | +69.4% |
| Profit (loss) for the period before taxes | 9903 | €108,505 | €75,188 | -€33,317 | -30.7% |
| Income taxes | 67/77 | €32,967 | €27,317 | -€5,650 | -17.1% |
| Profit (loss) for the period | 9904 | €75,538 | €47,872 | -€27,667 | -36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,538 | €47,872 | -€27,667 | -36.6% |
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.