STEMAC: 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.
STEMAC
Largest movements
- Receivables within one year +€26,764
up €26,764 (+193.1%), from €13,861 to €40,625
of which Trade receivables: +€32,304
- Cash +€10,858
up €10,858 (+10.5%), from €103,335 to €114,193
mainly Net result for the year (+€38,352) and Tax, wage and social debts (+€19,660)
- Tangible fixed assets -€9,251
down €9,251 (-23.7%), from €39,023 to €29,772
of which Furniture and vehicles: -€8,933
- Reserves +€38,352
up €38,352 (+1917.6%), from €2,000 to €40,352
- Trade debts -€28,173
down €28,173 (-97.5%), from €28,889 to €716
- Tax, wage and social debts +€19,660
up €19,660 (+88162.2%), from €22 to €19,682
- Gross operating margin +€18,545
up €18,545 (+37.4%), from €49,535 to €68,080
- Taxes +€16,061
up €16,061 (+443.5%), from €3,621 to €19,682
- Depreciation +€4,981
up €4,981 (+116.7%), from €4,270 to €9,251
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 | €159,186 | €188,707 | +€29,521 | +18.5% |
| Fixed assets | 21/28 | €39,273 | €30,022 | -€9,251 | -23.6% |
| Tangible fixed assets | 22/27 | €39,023 | €29,772 | -€9,251 | -23.7% |
| Plant, machinery and equipment | 23 | €380 | €62 | -€318 | -83.7% |
| Furniture and vehicles | 24 | €38,643 | €29,710 | -€8,933 | -23.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €119,913 | €158,686 | +€38,772 | +32.3% |
| Stocks and contracts in progress | 3 | - | €1,119 | +€1,119 | |
| Stocks | 30/36 | - | €1,119 | +€1,119 | |
| Amounts receivable within one year | 40/41 | €13,861 | €40,625 | +€26,764 | +193.1% |
| Trade receivables | 40 | €7,969 | €40,273 | +€32,304 | +405.4% |
| Other amounts receivable | 41 | €5,892 | €352 | -€5,540 | -94.0% |
| Cash at bank and in hand | 54/58 | €103,335 | €114,193 | +€10,858 | +10.5% |
| Deferred charges and accrued income | 490/1 | €2,718 | €2,749 | +€31 | +1.1% |
| Total equity and liabilities | 10/49 | €159,186 | €188,707 | +€29,521 | +18.5% |
| Equity | 10/15 | €55,377 | €93,729 | +€38,352 | +69.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €40,352 | +€38,352 | +1917.6% |
| Distributable reserves | 133 | €2,000 | €40,352 | +€38,352 | +1917.6% |
| Profit (loss) carried forward | 14 | €33,377 | €33,377 | = | 0.0% |
| Amounts payable | 17/49 | €103,809 | €94,979 | -€8,831 | -8.5% |
| Amounts payable within one year | 42/48 | €103,809 | €94,966 | -€8,843 | -8.5% |
| Trade debts | 44 | €28,889 | €716 | -€28,173 | -97.5% |
| Suppliers | 440/4 | €28,889 | €716 | -€28,173 | -97.5% |
| Taxes, remuneration and social security | 45 | €22 | €19,682 | +€19,660 | +88162.2% |
| Taxes | 450/3 | €22 | €19,682 | +€19,660 | +88162.2% |
| Other amounts payable | 47/48 | €74,898 | €74,568 | -€330 | -0.4% |
| Accrued charges and deferred income | 492/3 | - | €12 | +€12 | |
| Non-recurring operating income | 76A | €500 | €1,983 | +€1,483 | +296.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,270 | €9,251 | +€4,981 | +116.7% |
| Other operating charges | 640/8 | €655 | €718 | +€63 | +9.6% |
| Gross operating margin | 9900 | €49,535 | €68,080 | +€18,545 | +37.4% |
| Operating profit (loss) | 9901 | €44,610 | €58,111 | +€13,501 | +30.3% |
| Financial charges | 65/66B | €71 | €77 | +€6 | +7.9% |
| Recurring financial charges | 65 | €71 | €77 | +€6 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €44,539 | €58,034 | +€13,495 | +30.3% |
| Income taxes | 67/77 | €3,621 | €19,682 | +€16,061 | +443.5% |
| Profit (loss) for the period | 9904 | €40,918 | €38,352 | -€2,566 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,918 | €38,352 | -€2,566 | -6.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.