STECIMA: what changed
STECIMA
Largest movements
- Tangible fixed assets -€71,914
down €71,914 (-6.6%), from €1.1m to €1.0m
of which Land and buildings: -€52,151
- Cash -€26,149
down €26,149 (-66.4%), from €39,370 to €13,221
mainly Other debts (-€115,765) and Debts after one year (-€64,168)
- Other debts -€115,765
down €115,765 (-87.1%), from €132,927 to €17,162
- Debts after one year -€64,168
down €64,168 (-12.4%), from €515,970 to €451,802
- Reserves +€61,722
up €61,722 (+15.0%), from €412,652 to €474,374
- Trade debts +€51,347
up €51,347 (+473%), from €10,855 to €62,203
- Accrued charges and deferred income -€28,095
no longer reported in 2025 (was €28,095)
- Gross operating margin -€83,056
down €83,056 (-31.6%), from €262,736 to €179,680
- Depreciation +€33,586
up €33,586 (+84.4%), from €39,806 to €73,392
- Taxes -€30,283
down €30,283 (-57.7%), from €52,469 to €22,186
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 | €1,190,575 | €1,086,035 | -€104,540 | -8.8% |
| Fixed assets | 21/28 | €1,092,481 | €1,020,567 | -€71,914 | -6.6% |
| Tangible fixed assets | 22/27 | €1,092,481 | €1,020,567 | -€71,914 | -6.6% |
| Land and buildings | 22 | €1,005,011 | €952,860 | -€52,151 | -5.2% |
| Furniture and vehicles | 24 | €87,470 | €67,707 | -€19,763 | -22.6% |
| Current assets | 29/58 | €98,094 | €65,468 | -€32,626 | -33.3% |
| Amounts receivable within one year | 40/41 | €57,526 | €50,976 | -€6,550 | -11.4% |
| Trade receivables | 40 | €23,910 | €15,631 | -€8,279 | -34.6% |
| Other amounts receivable | 41 | €33,616 | €35,345 | +€1,729 | +5.1% |
| Cash at bank and in hand | 54/58 | €39,370 | €13,221 | -€26,149 | -66.4% |
| Deferred charges and accrued income | 490/1 | €1,198 | €1,272 | +€74 | +6.2% |
| Total equity and liabilities | 10/49 | €1,190,575 | €1,086,035 | -€104,540 | -8.8% |
| Equity | 10/15 | €415,652 | €477,374 | +€61,722 | +14.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €412,652 | €474,374 | +€61,722 | +15.0% |
| Distributable reserves | 133 | €412,652 | €474,374 | +€61,722 | +15.0% |
| Amounts payable | 17/49 | €774,923 | €608,661 | -€166,262 | -21.5% |
| Amounts payable after more than one year | 17 | €515,970 | €451,802 | -€64,168 | -12.4% |
| Financial debts | 170/4 | €515,970 | €451,802 | -€64,168 | -12.4% |
| Amounts payable within one year | 42/48 | €230,857 | €156,859 | -€73,998 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €64,168 | €64,168 | = | 0.0% |
| Trade debts | 44 | €10,855 | €62,203 | +€51,347 | +473% |
| Suppliers | 440/4 | €10,855 | €62,203 | +€51,347 | +473% |
| Taxes, remuneration and social security | 45 | €22,907 | €13,326 | -€9,580 | -41.8% |
| Taxes | 450/3 | €22,907 | €13,326 | -€9,580 | -41.8% |
| Other amounts payable | 47/48 | €132,927 | €17,162 | -€115,765 | -87.1% |
| Accrued charges and deferred income | 492/3 | €28,095 | - | -€28,095 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,806 | €73,392 | +€33,586 | +84.4% |
| Other operating charges | 640/8 | €5,022 | €2,872 | -€2,150 | -42.8% |
| Gross operating margin | 9900 | €262,736 | €179,680 | -€83,056 | -31.6% |
| Operating profit (loss) | 9901 | €217,909 | €103,416 | -€114,492 | -52.5% |
| Financial charges | 65/66B | €18,282 | €19,509 | +€1,227 | +6.7% |
| Recurring financial charges | 65 | €18,282 | €19,509 | +€1,227 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €199,627 | €83,908 | -€115,719 | -58.0% |
| Income taxes | 67/77 | €52,469 | €22,186 | -€30,283 | -57.7% |
| Profit (loss) for the period | 9904 | €147,157 | €61,722 | -€85,436 | -58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €147,157 | €61,722 | -€85,436 | -58.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.