STASMA: what changed
Two fiscal 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.
STASMA
Largest movements
- Financial fixed assets +€3.2m
new in 2025: €3.2m
- Tangible fixed assets -€546,233
down €546,233 (-16.8%), from €3.3m to €2.7m
of which Land and buildings: -€529,386
- Debts after one year +€2.0m
up €2.0m (+204.1%), from €979,969 to €3.0m
- Other debts +€516,369
up €516,369 (+842.8%), from €61,269 to €577,639
- Reserves -€217,064
down €217,064 (-66.0%), from €329,100 to €112,036
of which Distributable reserves: -€212,343
- Contributions +€155,070
up €155,070 (+250.2%), from €61,973 to €217,043
- Current portion of long-term debt +€128,693
up €128,693 (+84.6%), from €152,146 to €280,840
- Depreciation -€19,737
down €19,737 (-50.0%), from €39,479 to €19,742
- Gross operating margin -€12,219
down €12,219 (-7.8%), from €155,836 to €143,617
- Other operating charges -€7,655
down €7,655 (-27.2%), from €28,182 to €20,528
- Financial charges -€5,891
down €5,891 (-49.8%), from €11,834 to €5,943
- Taxes +€5,621
up €5,621 (+28.2%), from €19,924 to €25,545
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.
Cash bridge derived
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 | €3,321,622 | €5,917,731 | +€2.6m | +78.2% |
| Fixed assets | 21/28 | €3,259,074 | €5,868,296 | +€2.6m | +80.1% |
| Tangible fixed assets | 22/27 | €3,259,074 | €2,712,841 | -€546,233 | -16.8% |
| Land and buildings | 22 | €3,238,116 | €2,708,730 | -€529,386 | -16.3% |
| Plant, machinery and equipment | 23 | €16,246 | - | -€16,246 | |
| Furniture and vehicles | 24 | €4,713 | €4,111 | -€602 | -12.8% |
| Financial fixed assets | 28 | - | €3,155,455 | +€3.2m | |
| Current assets | 29/58 | €62,548 | €49,435 | -€13,114 | -21.0% |
| Amounts receivable within one year | 40/41 | €2,589 | €29,873 | +€27,284 | +1053.9% |
| Trade receivables | 40 | €2,133 | €2,375 | +€241 | +11.3% |
| Other amounts receivable | 41 | €455 | €27,498 | +€27,043 | +5937.1% |
| Cash at bank and in hand | 54/58 | €54,762 | €19,562 | -€35,200 | -64.3% |
| Deferred charges and accrued income | 490/1 | €5,198 | - | -€5,198 | |
| Total equity and liabilities | 10/49 | €3,321,622 | €5,917,731 | +€2.6m | +78.2% |
| Equity | 10/15 | €2,101,442 | €2,039,401 | -€62,042 | -3.0% |
| Contributions | 10/11 | €61,973 | €217,043 | +€155,070 | +250.2% |
| Capital | 10 | €61,973 | €217,043 | +€155,070 | +250.2% |
| Issued capital | 100 | €61,973 | €217,043 | +€155,070 | +250.2% |
| Revaluation surpluses | 12 | €1,710,321 | €1,710,321 | = | 0.0% |
| Reserves | 13 | €329,100 | €112,036 | -€217,064 | -66.0% |
| Non-distributable reserves | 130/1 | €6,200 | €1,479 | -€4,721 | -76.1% |
| Legal reserve | 130 | €6,200 | €1,479 | -€4,721 | -76.1% |
| Distributable reserves | 133 | €322,900 | €110,558 | -€212,343 | -65.8% |
| Profit (loss) carried forward | 14 | €48 | - | -€48 | |
| Amounts payable | 17/49 | €1,220,180 | €3,878,330 | +€2.7m | +217.8% |
| Amounts payable after more than one year | 17 | €979,969 | €2,979,865 | +€2.0m | +204.1% |
| Financial debts | 170/4 | €979,969 | €2,979,865 | +€2.0m | +204.1% |
| Amounts payable within one year | 42/48 | €236,711 | €898,466 | +€661,755 | +279.6% |
| Current portion of amounts payable after more than one year | 42 | €152,146 | €280,840 | +€128,693 | +84.6% |
| Trade debts | 44 | €13,272 | €14,419 | +€1,147 | +8.6% |
| Suppliers | 440/4 | €13,272 | €14,419 | +€1,147 | +8.6% |
| Advances received on contracts in progress | 46 | €100 | €100 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €9,924 | €25,468 | +€15,545 | +156.6% |
| Taxes | 450/3 | €9,924 | €25,468 | +€15,545 | +156.6% |
| Other amounts payable | 47/48 | €61,269 | €577,639 | +€516,369 | +842.8% |
| Accrued charges and deferred income | 492/3 | €3,500 | - | -€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,479 | €19,742 | -€19,737 | -50.0% |
| Other operating charges | 640/8 | €28,182 | €20,528 | -€7,655 | -27.2% |
| Gross operating margin | 9900 | €155,836 | €143,617 | -€12,219 | -7.8% |
| Operating profit (loss) | 9901 | €88,175 | €103,347 | +€15,172 | +17.2% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €11,834 | €5,943 | -€5,891 | -49.8% |
| Recurring financial charges | 65 | €11,834 | €5,943 | -€5,891 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €76,342 | €97,404 | +€21,062 | +27.6% |
| Income taxes | 67/77 | €19,924 | €25,545 | +€5,621 | +28.2% |
| Profit (loss) for the period | 9904 | €56,418 | €71,859 | +€15,441 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €56,418 | €71,859 | +€15,441 | +27.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.