STELIMAT: 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.
STELIMAT
Largest movements
- Receivables within one year +€15,264
up €15,264 (+867.5%), from €1,760 to €17,024
of which Other amounts receivable: +€9,764
- Other debts +€15,814
up €15,814 (+53.1%), from €29,756 to €45,570
- Gross operating margin -€14,101
down €14,101 (-78.3%), from €18,020 to €3,919
- Taxes -€4,095
down €4,095 (-96.6%), from €4,240 to €145
- Financial charges +€1,109
up €1,109 (+54.4%), from €2,039 to €3,148
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 | €355,171 | €370,678 | +€15,507 | +4.4% |
| Fixed assets | 21/28 | €351,074 | €350,643 | -€431 | -0.1% |
| Tangible fixed assets | 22/27 | €1,074 | €643 | -€431 | -40.1% |
| Furniture and vehicles | 24 | €1,074 | €643 | -€431 | -40.1% |
| Financial fixed assets | 28 | €350,000 | €350,000 | = | 0.0% |
| Current assets | 29/58 | €4,097 | €20,035 | +€15,938 | +389.0% |
| Amounts receivable within one year | 40/41 | €1,760 | €17,024 | +€15,264 | +867.5% |
| Trade receivables | 40 | - | €5,500 | +€5,500 | |
| Other amounts receivable | 41 | €1,760 | €11,524 | +€9,764 | +554.9% |
| Cash at bank and in hand | 54/58 | €2,337 | €2,996 | +€659 | +28.2% |
| Deferred charges and accrued income | 490/1 | - | €15 | +€15 | |
| Total equity and liabilities | 10/49 | €355,171 | €370,678 | +€15,507 | +4.4% |
| Equity | 10/15 | €318,880 | €318,546 | -€334 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €300,280 | €300,196 | -€84 | 0.0% |
| Distributable reserves | 133 | €300,280 | €300,196 | -€84 | 0.0% |
| Profit (loss) carried forward | 14 | - | -€250 | -€250 | |
| Amounts payable | 17/49 | €36,291 | €52,132 | +€15,841 | +43.7% |
| Amounts payable within one year | 42/48 | €34,968 | €50,695 | +€15,726 | +45.0% |
| Taxes, remuneration and social security | 45 | €5,213 | €5,124 | -€88 | -1.7% |
| Taxes | 450/3 | €3,511 | €3,423 | -€88 | -2.5% |
| Remuneration and social security | 454/9 | €1,702 | €1,702 | = | 0.0% |
| Other amounts payable | 47/48 | €29,756 | €45,570 | +€15,814 | +53.1% |
| Accrued charges and deferred income | 492/3 | €1,322 | €1,437 | +€115 | +8.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €431 | €431 | = | 0.0% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €18,020 | €3,919 | -€14,101 | -78.3% |
| Operating profit (loss) | 9901 | €17,061 | €2,944 | -€14,117 | -82.7% |
| Financial income | 75/76B | €0 | €15 | +€15 | +147700.0% |
| Recurring financial income | 75 | €0 | €15 | +€15 | +147700.0% |
| Financial charges | 65/66B | €2,039 | €3,148 | +€1,109 | +54.4% |
| Recurring financial charges | 65 | €2,039 | €3,148 | +€1,109 | +54.4% |
| Profit (loss) for the period before taxes | 9903 | €15,022 | -€189 | -€15,211 | |
| Income taxes | 67/77 | €4,240 | €145 | -€4,095 | -96.6% |
| Profit (loss) for the period | 9904 | €10,782 | -€334 | -€11,116 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,782 | -€334 | -€11,116 |
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 8 October 2026 via checked.be.