Stemaco: 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.
Stemaco
Largest movements
- Tangible fixed assets -€42,621
down €42,621 (-3.5%), from €1.2m to €1.2m
- Cash +€25,616
up €25,616 (+48.9%), from €52,349 to €77,965
mainly Debts after one year (+€669,360) and Net result for the year (+€80,407)
- Other debts -€749,153
down €749,153 (-97.8%), from €766,260 to €17,106
- Debts after one year +€669,360
up €669,360 (+124.1%), from €539,362 to €1.2m
- Profit (loss) carried forward +€80,407
up €80,407 (+82.2%), from -€97,788 to -€17,382
- Depreciation -€138,640
down €138,640 (-76.3%), from €181,711 to €43,071
- Gross operating margin +€51,571
up €51,571 (+46.7%), from €110,434 to €162,005
- Financial income +€16,257
up €16,257 (+6230.9%), from €261 to €16,518
- Taxes +€4,044
new in 2025: €4,044
- Other operating charges +€3,303
up €3,303 (+82.0%), from €4,029 to €7,332
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 | €1,428,814 | €1,420,921 | -€7,893 | -0.6% |
| Fixed assets | 21/28 | €1,220,080 | €1,177,458 | -€42,621 | -3.5% |
| Tangible fixed assets | 22/27 | €1,213,280 | €1,170,658 | -€42,621 | -3.5% |
| Land and buildings | 22 | €1,152,602 | €1,132,193 | -€20,410 | -1.8% |
| Furniture and vehicles | 24 | €6,692 | €5,195 | -€1,496 | -22.4% |
| Leasing and similar rights | 25 | €53,986 | €33,270 | -€20,715 | -38.4% |
| Financial fixed assets | 28 | €6,800 | €6,800 | = | 0.0% |
| Current assets | 29/58 | €208,734 | €243,463 | +€34,728 | +16.6% |
| Stocks and contracts in progress | 3 | €9,125 | €12,900 | +€3,775 | +41.4% |
| Stocks | 30/36 | €9,125 | €12,900 | +€3,775 | +41.4% |
| Amounts receivable within one year | 40/41 | €73,758 | €83,380 | +€9,622 | +13.0% |
| Trade receivables | 40 | €56,185 | €77,069 | +€20,884 | +37.2% |
| Other amounts receivable | 41 | €17,573 | €6,311 | -€11,262 | -64.1% |
| Current investments | 50/53 | €70,820 | €66,734 | -€4,086 | -5.8% |
| Cash at bank and in hand | 54/58 | €52,349 | €77,965 | +€25,616 | +48.9% |
| Deferred charges and accrued income | 490/1 | €2,683 | €2,484 | -€199 | -7.4% |
| Total equity and liabilities | 10/49 | €1,428,814 | €1,420,921 | -€7,893 | -0.6% |
| Equity | 10/15 | €58,960 | €139,366 | +€80,407 | +136.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €131,748 | €131,748 | = | 0.0% |
| Distributable reserves | 133 | €131,748 | €131,748 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,788 | -€17,382 | +€80,407 | +82.2% |
| Amounts payable | 17/49 | €1,369,854 | €1,281,555 | -€88,300 | -6.4% |
| Amounts payable after more than one year | 17 | €539,362 | €1,208,722 | +€669,360 | +124.1% |
| Financial debts | 170/4 | €539,362 | €1,208,722 | +€669,360 | +124.1% |
| Amounts payable within one year | 42/48 | €830,492 | €72,833 | -€757,660 | -91.2% |
| Current portion of amounts payable after more than one year | 42 | €42,954 | €41,843 | -€1,111 | -2.6% |
| Trade debts | 44 | €5,958 | €7,403 | +€1,445 | +24.3% |
| Suppliers | 440/4 | €5,958 | €7,403 | +€1,445 | +24.3% |
| Taxes, remuneration and social security | 45 | €15,321 | €6,480 | -€8,841 | -57.7% |
| Taxes | 450/3 | €15,321 | €6,480 | -€8,841 | -57.7% |
| Other amounts payable | 47/48 | €766,260 | €17,106 | -€749,153 | -97.8% |
| Non-recurring operating income | 76A | €95 | €265 | +€170 | +179.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,711 | €43,071 | -€138,640 | -76.3% |
| Other operating charges | 640/8 | €4,029 | €7,332 | +€3,303 | +82.0% |
| Non-recurring operating charges | 66A | - | €20,012 | +€20,012 | |
| Gross operating margin | 9900 | €110,434 | €162,005 | +€51,571 | +46.7% |
| Operating profit (loss) | 9901 | -€75,306 | €91,589 | +€166,896 | |
| Financial income | 75/76B | €261 | €16,518 | +€16,257 | +6230.9% |
| Recurring financial income | 75 | €261 | €16,518 | +€16,257 | +6230.9% |
| Financial charges | 65/66B | €22,743 | €23,657 | +€914 | +4.0% |
| Recurring financial charges | 65 | €18,743 | €23,657 | +€4,914 | +26.2% |
| Non-recurring financial charges | 66B | €4,000 | €0 | -€4,000 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€97,788 | €84,450 | +€182,239 | |
| Income taxes | 67/77 | - | €4,044 | +€4,044 | |
| Profit (loss) for the period | 9904 | -€97,788 | €80,407 | +€178,195 | |
| Profit (loss) for the period to be appropriated | 9905 | -€97,788 | €80,407 | +€178,195 |
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 8 October 2026 via checked.be.