STEDEM: 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.
STEDEM
Largest movements
- Current investments +€30,004
up €30,004 (+38.4%), from €78,091 to €108,095
- Tangible fixed assets -€25,576
down €25,576 (-35.6%), from €71,854 to €46,278
of which Furniture and vehicles: -€24,869
- Receivables within one year -€14,204
down €14,204 (-39.0%), from €36,450 to €22,246
- Cash -€10,437
down €10,437 (-56.3%), from €18,536 to €8,100
mainly Current investments (-€30,004) and Debts after one year (-€21,994)
- Deferred charges and accrued income +€2,692
up €2,692 (+69.2%), from €3,889 to €6,581
- Debts after one year -€21,994
down €21,994 (-49.6%), from €44,368 to €22,375
- Reserves +€8,000
up €8,000 (+7.1%), from €112,000 to €120,000
- Trade debts -€3,290
down €3,290 (-70.0%), from €4,698 to €1,409
- Tax, wage and social debts +€2,530
up €2,530 (+41.2%), from €6,135 to €8,665
- Other debts -€2,090
down €2,090 (-50.9%), from €4,107 to €2,017
- Gross operating margin -€2,896
down €2,896 (-7.4%), from €39,335 to €36,439
- Financial income +€1,677
up €1,677 (+661%), from €254 to €1,931
- Financial charges -€487
down €487 (-19.7%), from €2,468 to €1,981
- Depreciation +€427
up €427 (+1.7%), from €25,149 to €25,576
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 | €208,820 | €191,300 | -€17,520 | -8.4% |
| Fixed assets | 21/28 | €71,854 | €46,278 | -€25,576 | -35.6% |
| Tangible fixed assets | 22/27 | €71,854 | €46,278 | -€25,576 | -35.6% |
| Furniture and vehicles | 24 | €67,839 | €42,970 | -€24,869 | -36.7% |
| Other tangible fixed assets | 26 | €4,015 | €3,309 | -€707 | -17.6% |
| Current assets | 29/58 | €136,966 | €145,021 | +€8,055 | +5.9% |
| Amounts receivable within one year | 40/41 | €36,450 | €22,246 | -€14,204 | -39.0% |
| Trade receivables | 40 | €36,450 | €22,246 | -€14,204 | -39.0% |
| Current investments | 50/53 | €78,091 | €108,095 | +€30,004 | +38.4% |
| Cash at bank and in hand | 54/58 | €18,536 | €8,100 | -€10,437 | -56.3% |
| Deferred charges and accrued income | 490/1 | €3,889 | €6,581 | +€2,692 | +69.2% |
| Total equity and liabilities | 10/49 | €208,820 | €191,300 | -€17,520 | -8.4% |
| Equity | 10/15 | €126,091 | €134,841 | +€8,750 | +6.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €112,000 | €120,000 | +€8,000 | +7.1% |
| Distributable reserves | 133 | €112,000 | €120,000 | +€8,000 | +7.1% |
| Profit (loss) carried forward | 14 | €1,691 | €2,441 | +€750 | +44.4% |
| Amounts payable | 17/49 | €82,729 | €56,458 | -€26,271 | -31.8% |
| Amounts payable after more than one year | 17 | €44,368 | €22,375 | -€21,994 | -49.6% |
| Financial debts | 170/4 | €44,368 | €22,375 | -€21,994 | -49.6% |
| Amounts payable within one year | 42/48 | €38,361 | €34,084 | -€4,277 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €23,420 | €21,994 | -€1,427 | -6.1% |
| Trade debts | 44 | €4,698 | €1,409 | -€3,290 | -70.0% |
| Suppliers | 440/4 | €4,698 | €1,409 | -€3,290 | -70.0% |
| Taxes, remuneration and social security | 45 | €6,135 | €8,665 | +€2,530 | +41.2% |
| Taxes | 450/3 | €6,135 | €8,665 | +€2,530 | +41.2% |
| Other amounts payable | 47/48 | €4,107 | €2,017 | -€2,090 | -50.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,149 | €25,576 | +€427 | +1.7% |
| Other operating charges | 640/8 | €943 | €911 | -€32 | -3.4% |
| Gross operating margin | 9900 | €39,335 | €36,439 | -€2,896 | -7.4% |
| Operating profit (loss) | 9901 | €13,243 | €9,952 | -€3,291 | -24.9% |
| Financial income | 75/76B | €254 | €1,931 | +€1,677 | +661% |
| Recurring financial income | 75 | €254 | €1,931 | +€1,677 | +661% |
| Financial charges | 65/66B | €2,468 | €1,981 | -€487 | -19.7% |
| Recurring financial charges | 65 | €2,468 | €1,981 | -€487 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €11,028 | €9,902 | -€1,127 | -10.2% |
| Income taxes | 67/77 | €1,285 | €1,151 | -€133 | -10.4% |
| Profit (loss) for the period | 9904 | €9,744 | €8,750 | -€993 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,744 | €8,750 | -€993 | -10.2% |
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 28 October 2026 via checked.be.