STEDIMO: 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.
STEDIMO
Largest movements
- Tangible fixed assets -€1.2m
down €1.2m (-6.2%), from €18.7m to €17.5m
- Cash -€269,310
down €269,310 (-86.2%), from €312,537 to €43,227
mainly Net result for the year (-€811,519) and Debts after one year (-€416,943)
- Profit (loss) carried forward -€636,080
down €636,080 (-24.4%), from -€2.6m to -€3.2m
- Revaluation surpluses -€549,491
down €549,491 (-4.3%), from €12.6m to €12.1m
- Debts after one year -€416,943
down €416,943 (-7.5%), from €5.6m to €5.1m
- Reserves +€374,053
up €374,053 (+15.8%), from €2.4m to €2.7m
of which Distributable reserves: +€549,491
- Financial charges +€83,969
up €83,969 (+37.1%), from €226,162 to €310,131
- Other operating charges -€66,667
down €66,667 (-44.2%), from €150,717 to €84,050
- Taxes +€57,271
up €57,271 (+1403.7%), from €4,080 to €61,351
- Gross operating margin +€28,169
up €28,169 (+3.9%), from €721,156 to €749,325
- Depreciation -€24,539
down €24,539 (-2.1%), from €1.2m to €1.2m
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 | €22,825,621 | €21,525,446 | -€1.3m | -5.7% |
| Fixed assets | 21/28 | €21,951,153 | €20,791,982 | -€1.2m | -5.3% |
| Tangible fixed assets | 22/27 | €18,651,153 | €17,491,982 | -€1.2m | -6.2% |
| Land and buildings | 22 | €18,651,153 | €17,491,982 | -€1.2m | -6.2% |
| Financial fixed assets | 28 | €3,300,000 | €3,300,000 | = | 0.0% |
| Current assets | 29/58 | €874,468 | €733,465 | -€141,004 | -16.1% |
| Amounts receivable within one year | 40/41 | €558,721 | €679,083 | +€120,363 | +21.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €558,721 | €679,083 | +€120,363 | +21.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €312,537 | €43,227 | -€269,310 | -86.2% |
| Deferred charges and accrued income | 490/1 | €3,210 | €11,154 | +€7,944 | +247.5% |
| Total equity and liabilities | 10/49 | €22,825,621 | €21,525,446 | -€1.3m | -5.7% |
| Equity | 10/15 | €12,459,994 | €11,648,475 | -€811,519 | -6.5% |
| Contributions | 10/11 | €62,023 | €62,023 | = | 0.0% |
| Capital | 10 | €62,023 | €62,023 | = | 0.0% |
| Issued capital | 100 | €62,023 | €62,023 | = | 0.0% |
| Revaluation surpluses | 12 | €12,638,291 | €12,088,800 | -€549,491 | -4.3% |
| Reserves | 13 | €2,369,502 | €2,743,555 | +€374,053 | +15.8% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,264,323 | €1,088,885 | -€175,438 | -13.9% |
| Distributable reserves | 133 | €1,098,982 | €1,648,473 | +€549,491 | +50.0% |
| Profit (loss) carried forward | 14 | -€2,609,823 | -€3,245,903 | -€636,080 | -24.4% |
| Provisions and deferred taxes | 16 | €421,441 | €362,962 | -€58,479 | -13.9% |
| Deferred taxes | 168 | €421,441 | €362,962 | -€58,479 | -13.9% |
| Amounts payable | 17/49 | €9,944,186 | €9,514,010 | -€430,176 | -4.3% |
| Amounts payable after more than one year | 17 | €5,557,501 | €5,140,558 | -€416,943 | -7.5% |
| Financial debts | 170/4 | €5,557,501 | €5,140,558 | -€416,943 | -7.5% |
| Amounts payable within one year | 42/48 | €4,379,683 | €4,367,815 | -€11,867 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €407,643 | €416,943 | +€9,300 | +2.3% |
| Financial debts | 43 | €3,781,458 | €3,618,954 | -€162,504 | -4.3% |
| Credit institutions | 430/8 | €3,781,458 | €3,618,954 | -€162,504 | -4.3% |
| Trade debts | 44 | €95,944 | €240,953 | +€145,009 | +151.1% |
| Suppliers | 440/4 | €95,944 | €240,953 | +€145,009 | +151.1% |
| Taxes, remuneration and social security | 45 | €3,948 | €0 | -€3,948 | -100.0% |
| Taxes | 450/3 | €3,948 | €0 | -€3,948 | -100.0% |
| Other amounts payable | 47/48 | €90,690 | €90,966 | +€276 | +0.3% |
| Accrued charges and deferred income | 492/3 | €7,002 | €5,636 | -€1,367 | -19.5% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,189,539 | €1,165,001 | -€24,539 | -2.1% |
| Other operating charges | 640/8 | €150,717 | €84,050 | -€66,667 | -44.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €721,156 | €749,325 | +€28,169 | +3.9% |
| Operating profit (loss) | 9901 | -€619,100 | -€499,726 | +€119,374 | +19.3% |
| Financial income | 75/76B | €441 | €1,209 | +€768 | +174.2% |
| Recurring financial income | 75 | €441 | €1,209 | +€768 | +174.2% |
| Financial charges | 65/66B | €226,162 | €310,131 | +€83,969 | +37.1% |
| Recurring financial charges | 65 | €226,162 | €310,131 | +€83,969 | +37.1% |
| Profit (loss) for the period before taxes | 9903 | -€844,821 | -€808,647 | +€36,174 | +4.3% |
| Transfer from deferred taxes | 780 | €217,016 | €58,479 | -€158,537 | -73.1% |
| Income taxes | 67/77 | €4,080 | €61,351 | +€57,271 | +1403.7% |
| Profit (loss) for the period | 9904 | -€631,885 | -€811,519 | -€179,634 | -28.4% |
| Transfer from tax-exempt reserves | 789 | €651,049 | €175,438 | -€475,611 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,164 | -€636,080 | -€655,245 |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.