STAMO: 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.
STAMO
Largest movements
- Receivables within one year -€299,372
down €299,372 (-66.5%), from €450,489 to €151,117
of which Trade receivables: -€205,317
- Stocks and contracts +€87,761
up €87,761 (+682%), from €12,874 to €100,635
of which Contracts in progress: +€84,548
- Cash +€57,543
up €57,543 (+513%), from €11,227 to €68,770
mainly Receivables within one year (+€299,372) and Depreciation (+€34,701)
- Tangible fixed assets +€33,798
up €33,798 (+53.4%), from €63,306 to €97,104
of which Plant, machinery and equipment: +€45,516
- Intangible fixed assets -€6,000
down €6,000 (-67.0%), from €8,959 to €2,959
- Trade debts -€64,760
down €64,760 (-71.7%), from €90,373 to €25,614
- Profit (loss) carried forward -€38,478
down €38,478 (-17.3%), from €222,064 to €183,587
- Accrued charges and deferred income -€29,486
down €29,486 (-90.7%), from €32,512 to €3,026
- Gross operating margin -€64,894
down €64,894 (-15.1%), from €429,856 to €364,963
- Staff costs +€64,859
up €64,859 (+26.4%), from €245,987 to €310,845
- Taxes -€34,190
down €34,190 (-87.5%), from €39,079 to €4,889
- Depreciation +€8,821
up €8,821 (+34.1%), from €25,880 to €34,701
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 | €549,970 | €422,700 | -€127,270 | -23.1% |
| Fixed assets | 21/28 | €74,380 | €102,178 | +€27,798 | +37.4% |
| Intangible fixed assets | 21 | €8,959 | €2,959 | -€6,000 | -67.0% |
| Tangible fixed assets | 22/27 | €63,306 | €97,104 | +€33,798 | +53.4% |
| Plant, machinery and equipment | 23 | €22,486 | €68,002 | +€45,516 | +202% |
| Furniture and vehicles | 24 | €40,820 | €29,102 | -€11,717 | -28.7% |
| Financial fixed assets | 28 | €2,115 | €2,115 | = | 0.0% |
| Current assets | 29/58 | €475,590 | €320,522 | -€155,068 | -32.6% |
| Stocks and contracts in progress | 3 | €12,874 | €100,635 | +€87,761 | +682% |
| Stocks | 30/36 | €12,874 | €16,087 | +€3,213 | +25.0% |
| Contracts in progress | 37 | - | €84,548 | +€84,548 | |
| Amounts receivable within one year | 40/41 | €450,489 | €151,117 | -€299,372 | -66.5% |
| Trade receivables | 40 | €287,423 | €82,106 | -€205,317 | -71.4% |
| Other amounts receivable | 41 | €163,065 | €69,011 | -€94,055 | -57.7% |
| Cash at bank and in hand | 54/58 | €11,227 | €68,770 | +€57,543 | +513% |
| Deferred charges and accrued income | 490/1 | €1,000 | €0 | -€1,000 | -100% |
| Total equity and liabilities | 10/49 | €549,970 | €422,700 | -€127,270 | -23.1% |
| Equity | 10/15 | €407,343 | €368,865 | -€38,478 | -9.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | - | €61,973 | +€61,973 | |
| Issued capital | 100 | - | €61,973 | +€61,973 | |
| Contributions outside capital | 11 | €61,973 | €0 | -€61,973 | -100% |
| Other | 1109/19 | €61,973 | €0 | -€61,973 | -100% |
| Reserves | 13 | €123,305 | €123,305 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | - | €6,197 | +€6,197 | |
| Reserves not available under the articles | 1311 | €6,197 | €0 | -€6,197 | -100% |
| Distributable reserves | 133 | €117,108 | €117,108 | = | 0.0% |
| Profit (loss) carried forward | 14 | €222,064 | €183,587 | -€38,478 | -17.3% |
| Amounts payable | 17/49 | €142,627 | €53,835 | -€88,792 | -62.3% |
| Amounts payable within one year | 42/48 | €110,115 | €50,809 | -€59,306 | -53.9% |
| Trade debts | 44 | €90,373 | €25,614 | -€64,760 | -71.7% |
| Suppliers | 440/4 | €90,373 | €25,614 | -€64,760 | -71.7% |
| Taxes, remuneration and social security | 45 | €19,741 | €22,498 | +€2,757 | +14.0% |
| Taxes | 450/3 | €8,054 | €0 | -€8,054 | -100% |
| Remuneration and social security | 454/9 | €11,687 | €22,498 | +€10,811 | +92.5% |
| Other amounts payable | 47/48 | - | €2,697 | +€2,697 | |
| Accrued charges and deferred income | 492/3 | €32,512 | €3,026 | -€29,486 | -90.7% |
| Remuneration, social security and pensions | 62 | €245,987 | €310,845 | +€64,859 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,880 | €34,701 | +€8,821 | +34.1% |
| Other operating charges | 640/8 | €826 | €1,978 | +€1,152 | +140% |
| Non-recurring operating charges | 66A | - | €49,499 | +€49,499 | |
| Gross operating margin | 9900 | €429,856 | €364,963 | -€64,894 | -15.1% |
| Operating profit (loss) | 9901 | €157,164 | -€32,060 | -€189,224 | |
| Financial income | 75/76B | €55 | €62 | +€6 | +11.5% |
| Recurring financial income | 75 | €55 | €62 | +€6 | +11.5% |
| Non-recurring financial income | 76B | €55 | - | -€55 | |
| Financial charges | 65/66B | €257 | €1,590 | +€1,333 | +518% |
| Recurring financial charges | 65 | €43 | €1,590 | +€1,547 | +3,563% |
| Non-recurring financial charges | 66B | €214 | - | -€214 | |
| Profit (loss) for the period before taxes | 9903 | €156,962 | -€33,589 | -€190,551 | |
| Income taxes | 67/77 | €39,079 | €4,889 | -€34,190 | -87.5% |
| Profit (loss) for the period | 9904 | €117,883 | -€38,478 | -€156,361 | |
| Profit (loss) for the period to be appropriated | 9905 | €117,883 | -€38,478 | -€156,361 |
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 23 October 2026 via checked.be.