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.
What changed
STEMA
NACE 23.450, Manufacture of other non-metallic mineral products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€97,453
2024 · -€119,493+€22,040
Equity
-€229,789
2024 · -€128,900-€100,889
Cash
€13,215
2024 · €13,557-€343
Balance sheet total
€402,088
2024 · €429,062-€26,974
Largest movements
Assets
- Deferred charges and accrued income +€35,579
up €35,579 (+388.4%), from €9,160 to €44,739
- Tangible fixed assets -€29,911
down €29,911 (-15.0%), from €199,081 to €169,170
- Receivables within one year -€29,344
down €29,344 (-24.6%), from €119,313 to €89,970
of which Trade receivables: -€14,804
- Intangible fixed assets -€7,057
down €7,057 (-25.2%), from €27,974 to €20,917
Equity and liabilities
- Profit (loss) carried forward -€75,453
down €75,453 (-43.2%), from -€174,466 to -€249,919
- Trade debts +€32,822
up €32,822 (+64.5%), from €50,850 to €83,671
- Short-term financial debts +€26,909
up €26,909 (+28.4%), from €94,638 to €121,546
- Reserves -€22,000
down €22,000 (-100.0%), from €22,000 to €0
of which Distributable reserves: -€22,000
- Tax, wage and social debts +€7,607
up €7,607 (+9.4%), from €81,174 to €88,781
of which Taxes: +€3,954
Income statement
- Staff costs -€54,498
down €54,498 (-10.0%), from €544,852 to €490,354
- Gross operating margin -€33,270
down €33,270 (-6.6%), from €503,197 to €469,928
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.
Result 2024
-€119,493
Gross operating margin
-€33,270
Staff costs
+€54,498
Depreciation
-€1,643
Other operating charges
-€4,525
Other operating items
+€12,820
Financial income
-€1,003
Financial charges
-€4,805
Taxes
-€32
Result 2025
-€97,453
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.
From operations
-€22,259
Investment
-€1,800
Financing
+€23,716
Cash 2024
€13,557
From operations (derived)
-€22,259
Net result for the year
-€97,453
Depreciation
+€38,768
Stocks and contracts
-€4,102
Receivables within one year
+€29,344
Deferred charges and accrued income
-€35,579
Trade debts
+€32,822
Tax, wage and social debts
+€7,607
Other debts
+€6,023
Accrued charges and deferred income
+€311
Investment (derived)
-€1,800
Investment in fixed assets (net)
-€1,800
Financing
+€23,716
Debts after one year
+€4,430
Current portion of long-term debt
-€4,187
Short-term financial debts
+€26,909
Contributions, distributions and other
-€3,435
Cash 2025
€13,215
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €429,062 | €402,088 | -€26,974 | -6.3% |
| Fixed assets | 21/28 | €227,055 | €190,087 | -€36,968 | -16.3% |
| Intangible fixed assets | 21 | €27,974 | €20,917 | -€7,057 | -25.2% |
| Tangible fixed assets | 22/27 | €199,081 | €169,170 | -€29,911 | -15.0% |
| Land and buildings | 22 | €118,328 | €110,569 | -€7,758 | -6.6% |
| Plant, machinery and equipment | 23 | €42,584 | €34,673 | -€7,911 | -18.6% |
| Furniture and vehicles | 24 | €38,170 | €23,928 | -€14,242 | -37.3% |
| Current assets | 29/58 | €202,007 | €212,002 | +€9,995 | +4.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €59,976 | €64,078 | +€4,102 | +6.8% |
| Stocks | 30/36 | €59,976 | €64,078 | +€4,102 | +6.8% |
| Amounts receivable within one year | 40/41 | €119,313 | €89,970 | -€29,344 | -24.6% |
| Trade receivables | 40 | €101,403 | €86,599 | -€14,804 | -14.6% |
| Other amounts receivable | 41 | €17,910 | €3,371 | -€14,539 | -81.2% |
| Cash at bank and in hand | 54/58 | €13,557 | €13,215 | -€343 | -2.5% |
| Deferred charges and accrued income | 490/1 | €9,160 | €44,739 | +€35,579 | +388.4% |
| Total equity and liabilities | 10/49 | €429,062 | €402,088 | -€26,974 | -6.3% |
| Equity | 10/15 | -€128,900 | -€229,789 | -€100,889 | -78.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €22,000 | €0 | -€22,000 | -100.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €22,000 | €0 | -€22,000 | -100.0% |
| Profit (loss) carried forward | 14 | -€174,466 | -€249,919 | -€75,453 | -43.2% |
| Investment grants | 15 | €5,016 | €1,581 | -€3,435 | -68.5% |
| Amounts payable | 17/49 | €557,962 | €631,877 | +€73,915 | +13.2% |
| Amounts payable after more than one year | 17 | €276,294 | €280,724 | +€4,430 | +1.6% |
| Financial debts | 170/4 | €276,294 | €280,724 | +€4,430 | +1.6% |
| Amounts payable within one year | 42/48 | €281,668 | €350,842 | +€69,174 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €55,007 | €50,820 | -€4,187 | -7.6% |
| Financial debts | 43 | €94,638 | €121,546 | +€26,909 | +28.4% |
| Credit institutions | 430/8 | €94,638 | €121,546 | +€26,909 | +28.4% |
| Trade debts | 44 | €50,850 | €83,671 | +€32,822 | +64.5% |
| Suppliers | 440/4 | €50,850 | €83,671 | +€32,822 | +64.5% |
| Taxes, remuneration and social security | 45 | €81,174 | €88,781 | +€7,607 | +9.4% |
| Taxes | 450/3 | €2,417 | €6,370 | +€3,954 | +163.6% |
| Remuneration and social security | 454/9 | €78,757 | €82,410 | +€3,654 | +4.6% |
| Other amounts payable | 47/48 | - | €6,023 | +€6,023 | |
| Accrued charges and deferred income | 492/3 | €0 | €311 | +€311 | |
| Non-recurring operating income | 76A | €500 | €0 | -€500 | -100.0% |
| Remuneration, social security and pensions | 62 | €544,852 | €490,354 | -€54,498 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,125 | €38,768 | +€1,643 | +4.4% |
| Other operating charges | 640/8 | €15,302 | €19,827 | +€4,525 | +29.6% |
| Non-recurring operating charges | 66A | €12,820 | €0 | -€12,820 | -100.0% |
| Gross operating margin | 9900 | €503,197 | €469,928 | -€33,270 | -6.6% |
| Operating profit (loss) | 9901 | -€106,902 | -€79,022 | +€27,880 | +26.1% |
| Financial income | 75/76B | €4,821 | €3,818 | -€1,003 | -20.8% |
| Recurring financial income | 75 | €4,821 | €3,818 | -€1,003 | -20.8% |
| Financial charges | 65/66B | €17,417 | €22,222 | +€4,805 | +27.6% |
| Recurring financial charges | 65 | €17,417 | €22,222 | +€4,805 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | -€119,497 | -€97,425 | +€22,072 | +18.5% |
| Income taxes | 67/77 | -€4 | €28 | +€32 | |
| Profit (loss) for the period | 9904 | -€119,493 | -€97,453 | +€22,040 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€119,493 | -€97,453 | +€22,040 | +18.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.