STEMA: 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.
STEMA
Largest movements
- Tangible fixed assets -€7,887
down €7,887 (-89.6%), from €8,804 to €917
of which Leasing and similar rights: -€8,493
- Cash -€7,870
down €7,870 (-37.1%), from €21,197 to €13,327
mainly Trade debts (-€8,631) and Net result for the year (-€7,471)
- Receivables within one year -€6,758
down €6,758 (-42.5%), from €15,916 to €9,158
of which Trade receivables: -€6,815
- Trade debts -€8,631
down €8,631 (-26.3%), from €32,833 to €24,202
- Profit (loss) carried forward -€7,471
down €7,471 (-5.2%), from -€142,565 to -€150,037
- Current portion of long-term debt -€4,076
down €4,076 (-100.0%), from €4,076 to €0
- Tax, wage and social debts -€1,467
down €1,467 (-100.0%), from €1,467 to €0
- Accrued charges and deferred income -€870
down €870 (-100.0%), from €870 to €0
- Gross operating margin +€7,127
up €7,127 (+402.9%), from €1,769 to €8,896
- Depreciation -€4,270
down €4,270 (-92.0%), from €4,641 to €371
- Financial charges -€3,792
down €3,792 (-54.5%), from €6,953 to €3,161
- Other operating charges +€1,296
up €1,296 (+42.6%), from €3,046 to €4,342
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 | €45,917 | €23,401 | -€22,515 | -49.0% |
| Fixed assets | 21/28 | €8,804 | €917 | -€7,887 | -89.6% |
| Tangible fixed assets | 22/27 | €8,804 | €917 | -€7,887 | -89.6% |
| Furniture and vehicles | 24 | €311 | €917 | +€606 | +194.9% |
| Leasing and similar rights | 25 | €8,493 | €0 | -€8,493 | -100.0% |
| Current assets | 29/58 | €37,113 | €22,484 | -€14,629 | -39.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €15,916 | €9,158 | -€6,758 | -42.5% |
| Trade receivables | 40 | €15,916 | €9,101 | -€6,815 | -42.8% |
| Other amounts receivable | 41 | - | €57 | +€57 | |
| Cash at bank and in hand | 54/58 | €21,197 | €13,327 | -€7,870 | -37.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €45,917 | €23,401 | -€22,515 | -49.0% |
| Equity | 10/15 | -€57,620 | -€65,091 | -€7,471 | -13.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €22,945 | €22,945 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,745 | €16,745 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€142,565 | -€150,037 | -€7,471 | -5.2% |
| Amounts payable | 17/49 | €103,537 | €88,493 | -€15,044 | -14.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €102,667 | €88,493 | -€14,174 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €4,076 | €0 | -€4,076 | -100.0% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €32,833 | €24,202 | -€8,631 | -26.3% |
| Suppliers | 440/4 | €32,833 | €24,202 | -€8,631 | -26.3% |
| Taxes, remuneration and social security | 45 | €1,467 | €0 | -€1,467 | -100.0% |
| Taxes | 450/3 | €1,467 | €0 | -€1,467 | -100.0% |
| Other amounts payable | 47/48 | €14,290 | €14,290 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €870 | €0 | -€870 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,641 | €371 | -€4,270 | -92.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,046 | €4,342 | +€1,296 | +42.6% |
| Non-recurring operating charges | 66A | - | €8,493 | +€8,493 | |
| Gross operating margin | 9900 | €1,769 | €8,896 | +€7,127 | +402.9% |
| Operating profit (loss) | 9901 | -€5,918 | -€4,311 | +€1,608 | +27.2% |
| Financial charges | 65/66B | €6,953 | €3,161 | -€3,792 | -54.5% |
| Recurring financial charges | 65 | €6,953 | €3,161 | -€3,792 | -54.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,871 | -€7,471 | +€5,400 | +42.0% |
| Profit (loss) for the period | 9904 | -€12,871 | -€7,471 | +€5,400 | +42.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,871 | -€7,471 | +€5,400 | +42.0% |
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 1 October 2026 via checked.be.