STAM: 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.
STAM
Largest movements
- Cash +€191,304
up €191,304 (+641%), from €29,827 to €221,131
mainly Net result for the year (+€104,975) and Tax, wage and social debts (+€68,736)
- Reserves +€104,975
up €104,975 (+14.1%), from €745,698 to €850,672
of which Distributable reserves: +€104,975
- Tax, wage and social debts +€68,736
up €68,736 (+209%), from €32,918 to €101,654
of which Taxes: +€65,869
- Trade debts +€22,937
up €22,937 (+377%), from €6,090 to €29,028
- Gross operating margin +€137,861
up €137,861 (+119%), from €115,669 to €253,530
- Taxes +€35,502
up €35,502 (+412%), from €8,615 to €44,117
- Staff costs +€16,286
up €16,286 (+20.6%), from €79,132 to €95,418
- Depreciation -€3,167
down €3,167 (-50.0%), from €6,337 to €3,170
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 | €1,004,150 | €1,199,024 | +€194,874 | +19.4% |
| Fixed assets | 21/28 | €638,391 | €636,191 | -€2,199 | -0.3% |
| Tangible fixed assets | 22/27 | €8,585 | €6,385 | -€2,199 | -25.6% |
| Plant, machinery and equipment | 23 | €2,305 | €1,450 | -€855 | -37.1% |
| Furniture and vehicles | 24 | €6,279 | €4,935 | -€1,344 | -21.4% |
| Financial fixed assets | 28 | €629,806 | €629,806 | = | 0.0% |
| Current assets | 29/58 | €365,759 | €562,832 | +€197,073 | +53.9% |
| Stocks and contracts in progress | 3 | €55,321 | €50,696 | -€4,625 | -8.4% |
| Stocks | 30/36 | €55,321 | €50,696 | -€4,625 | -8.4% |
| Amounts receivable within one year | 40/41 | €279,795 | €289,458 | +€9,663 | +3.5% |
| Trade receivables | 40 | €26,617 | €35,478 | +€8,861 | +33.3% |
| Other amounts receivable | 41 | €253,177 | €253,980 | +€803 | +0.3% |
| Cash at bank and in hand | 54/58 | €29,827 | €221,131 | +€191,304 | +641% |
| Deferred charges and accrued income | 490/1 | €817 | €1,547 | +€730 | +89.4% |
| Total equity and liabilities | 10/49 | €1,004,150 | €1,199,024 | +€194,874 | +19.4% |
| Equity | 10/15 | €764,298 | €869,272 | +€104,975 | +13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €745,698 | €850,672 | +€104,975 | +14.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €743,838 | €848,812 | +€104,975 | +14.1% |
| Amounts payable | 17/49 | €239,852 | €329,751 | +€89,899 | +37.5% |
| Amounts payable after more than one year | 17 | €194,572 | €192,835 | -€1,737 | -0.9% |
| Financial debts | 170/4 | €194,572 | €192,835 | -€1,737 | -0.9% |
| Amounts payable within one year | 42/48 | €45,280 | €136,916 | +€91,636 | +202% |
| Current portion of amounts payable after more than one year | 42 | €1,737 | €1,737 | +€0 | 0.0% |
| Trade debts | 44 | €6,090 | €29,028 | +€22,937 | +377% |
| Suppliers | 440/4 | €6,090 | €29,028 | +€22,937 | +377% |
| Taxes, remuneration and social security | 45 | €32,918 | €101,654 | +€68,736 | +209% |
| Taxes | 450/3 | €24,236 | €90,106 | +€65,869 | +272% |
| Remuneration and social security | 454/9 | €8,681 | €11,548 | +€2,867 | +33.0% |
| Other amounts payable | 47/48 | €4,535 | €4,497 | -€38 | -0.8% |
| Remuneration, social security and pensions | 62 | €79,132 | €95,418 | +€16,286 | +20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,337 | €3,170 | -€3,167 | -50.0% |
| Other operating charges | 640/8 | €4,560 | €5,791 | +€1,231 | +27.0% |
| Gross operating margin | 9900 | €115,669 | €253,530 | +€137,861 | +119% |
| Operating profit (loss) | 9901 | €25,641 | €149,152 | +€123,511 | +482% |
| Financial income | 75/76B | €58 | €475 | +€418 | +723% |
| Recurring financial income | 75 | €58 | €475 | +€418 | +723% |
| Financial charges | 65/66B | €1,214 | €536 | -€679 | -55.9% |
| Recurring financial charges | 65 | €1,214 | €536 | -€679 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | €24,484 | €149,092 | +€124,608 | +509% |
| Income taxes | 67/77 | €8,615 | €44,117 | +€35,502 | +412% |
| Profit (loss) for the period | 9904 | €15,869 | €104,975 | +€89,106 | +562% |
| Profit (loss) for the period to be appropriated | 9905 | €15,869 | €104,975 | +€89,106 | +562% |
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 14 October 2026 via checked.be.