STEFMAR: 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.
STEFMAR
Largest movements
- Cash -€51
down €51 (-56.2%), from €91 to €40
mainly Net result for the year (-€1,454) and Trade debts (-€727)
- Other debts +€1,602
up €1,602 (+2.1%), from €76,388 to €77,991
- Profit (loss) carried forward -€1,454
down €1,454 (-1.3%), from -€107,980 to -€109,434
- Trade debts -€727
down €727 (-51.2%), from €1,420 to €694
- Accrued charges and deferred income +€528
new in 2025: €528
- Provisions +€2,100
no longer reported in 2025 (was -€2,100)
- Gross operating margin +€1,267
up €1,267 (+59.1%), from -€2,143 to -€876
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 | €91 | €40 | -€51 | -56.2% |
| Current assets | 29/58 | €91 | €40 | -€51 | -56.2% |
| Cash at bank and in hand | 54/58 | €91 | €40 | -€51 | -56.2% |
| Total equity and liabilities | 10/49 | €91 | €40 | -€51 | -56.2% |
| Equity | 10/15 | -€84,218 | -€85,672 | -€1,454 | -1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,162 | €5,162 | = | 0.0% |
| Non-distributable reserves | 130/1 | €600 | €600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €600 | €600 | = | 0.0% |
| Distributable reserves | 133 | €4,562 | €4,562 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€107,980 | -€109,434 | -€1,454 | -1.3% |
| Provisions and deferred taxes | 16 | €6,500 | €6,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €6,500 | €6,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €6,500 | €6,500 | = | 0.0% |
| Amounts payable | 17/49 | €77,809 | €79,212 | +€1,403 | +1.8% |
| Amounts payable within one year | 42/48 | €77,809 | €78,684 | +€876 | +1.1% |
| Trade debts | 44 | €1,420 | €694 | -€727 | -51.2% |
| Suppliers | 440/4 | €1,420 | €694 | -€727 | -51.2% |
| Other amounts payable | 47/48 | €76,388 | €77,991 | +€1,602 | +2.1% |
| Accrued charges and deferred income | 492/3 | - | €528 | +€528 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,100 | - | +€2,100 | |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€2,143 | -€876 | +€1,267 | +59.1% |
| Operating profit (loss) | 9901 | -€557 | -€1,403 | -€847 | -152.2% |
| Financial charges | 65/66B | €44 | €51 | +€8 | +17.2% |
| Recurring financial charges | 65 | €44 | €51 | +€8 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | -€600 | -€1,454 | -€854 | -142.4% |
| Profit (loss) for the period | 9904 | -€600 | -€1,454 | -€854 | -142.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€600 | -€1,454 | -€854 | -142.4% |
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.