STEMABE: 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.
STEMABE
Largest movements
- Tangible fixed assets -€23,832
down €23,832 (-6.5%), from €369,490 to €345,658
of which Plant, machinery and equipment: -€18,278
- Other debts -€45,600
down €45,600 (-53.2%), from €85,772 to €40,172
- Profit (loss) carried forward +€17,906
up €17,906 (+9.7%), from -€183,899 to -€165,993
- Other operating charges -€1,177
down €1,177 (-30.2%), from €3,901 to €2,723
- Gross operating margin +€637
up €637 (+1.5%), from €43,884 to €44,521
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.
Derived cash bridge
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 | €401,874 | €374,180 | -€27,694 | -6.9% |
| Fixed assets | 21/28 | €369,620 | €345,788 | -€23,832 | -6.4% |
| Tangible fixed assets | 22/27 | €369,490 | €345,658 | -€23,832 | -6.5% |
| Land and buildings | 22 | €49,410 | €43,855 | -€5,555 | -11.2% |
| Plant, machinery and equipment | 23 | €320,081 | €301,803 | -€18,278 | -5.7% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €32,254 | €28,392 | -€3,862 | -12.0% |
| Cash at bank and in hand | 54/58 | €32,254 | €28,392 | -€3,862 | -12.0% |
| Total equity and liabilities | 10/49 | €401,874 | €374,180 | -€27,694 | -6.9% |
| Equity | 10/15 | €66,101 | €84,007 | +€17,906 | +27.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€183,899 | -€165,993 | +€17,906 | +9.7% |
| Amounts payable | 17/49 | €335,772 | €290,172 | -€45,600 | -13.6% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Other amounts payable | 178/9 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €85,772 | €40,172 | -€45,600 | -53.2% |
| Other amounts payable | 47/48 | €85,772 | €40,172 | -€45,600 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,453 | €23,832 | +€380 | +1.6% |
| Other operating charges | 640/8 | €3,901 | €2,723 | -€1,177 | -30.2% |
| Gross operating margin | 9900 | €43,884 | €44,521 | +€637 | +1.5% |
| Operating profit (loss) | 9901 | €16,530 | €17,965 | +€1,435 | +8.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €54 | €60 | +€5 | +9.9% |
| Recurring financial charges | 65 | €54 | €60 | +€5 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €16,476 | €17,906 | +€1,430 | +8.7% |
| Profit (loss) for the period | 9904 | €16,476 | €17,906 | +€1,430 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,476 | €17,906 | +€1,430 | +8.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.