Stemafisk: 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
Stemafisk
NACE 69.201, Certified accountants and tax accountants
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€650,081
2024 · €594,575+€55,506
Equity
€2.0m
2024 · €1.7m+€250,081
Cash
€135,982
2024 · €62,089+€73,892
Balance sheet total
€5.3m
2024 · €4.9m+€436,906
Largest movements
Assets
- Receivables within one year +€418,689
up €418,689 (+48.9%), from €855,822 to €1.3m
of which Other amounts receivable: +€243,632
- Deferred charges and accrued income -€146,803
down €146,803 (-100.0%), from €146,803 to €0
- Financial fixed assets +€115,627
up €115,627 (+5.8%), from €2.0m to €2.1m
- Cash +€73,892
up €73,892 (+119.0%), from €62,089 to €135,982
mainly Net result for the year (+€650,081) and Depreciation (+€163,489)
Equity and liabilities
- Profit (loss) carried forward +€250,081
up €250,081 (+16.5%), from €1.5m to €1.8m
- Debts after one year +€134,599
up €134,599 (+7.9%), from €1.7m to €1.8m
- Other debts -€123,189
down €123,189 (-25.8%), from €477,924 to €354,734
- Trade debts +€112,338
up €112,338 (+63.9%), from €175,725 to €288,063
- Tax, wage and social debts +€87,561
up €87,561 (+61.1%), from €143,342 to €230,903
of which Taxes: +€83,899
Income statement
- Gross operating margin +€212,899
up €212,899 (+11.3%), from €1.9m to €2.1m
- Staff costs +€101,332
up €101,332 (+9.3%), from €1.1m to €1.2m
- Financial income +€94,306
up €94,306 (+66.8%), from €141,161 to €235,467
- Other operating charges +€54,422
up €54,422 (+205.5%), from €26,478 to €80,900
- Depreciation +€36,139
up €36,139 (+28.4%), from €127,350 to €163,489
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
€594,575
Gross operating margin
+€212,899
Staff costs
-€101,332
Depreciation
-€36,139
Write-downs
-€3,816
Other operating charges
-€54,422
Other operating items
-€6,682
Financial income
+€94,306
Financial charges
-€20,921
Taxes
-€28,387
Result 2025
€650,081
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
+€599,725
Investment
-€254,616
Financing
-€271,217
Cash 2024
€62,089
From operations (derived)
+€599,725
Net result for the year
+€650,081
Depreciation
+€163,489
Receivables within one year
-€418,689
Deferred charges and accrued income
+€146,803
Trade debts
+€112,338
Tax, wage and social debts
+€87,561
Other debts
-€123,189
Accrued charges and deferred income
-€18,668
Investment (derived)
-€254,616
Investment in fixed assets (net)
-€252,719
Current investments
-€1,897
Financing
-€271,217
Debts after one year
+€134,599
Current portion of long-term debt
-€5,816
Contributions, distributions and other
-€400,000
Cash 2025
€135,982
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,853,299 | €5,290,204 | +€436,906 | +9.0% |
| Fixed assets | 21/28 | €2,799,316 | €2,888,546 | +€89,230 | +3.2% |
| Intangible fixed assets | 21 | €25,006 | €14,335 | -€10,671 | -42.7% |
| Tangible fixed assets | 22/27 | €773,797 | €758,073 | -€15,725 | -2.0% |
| Land and buildings | 22 | €376,735 | €367,152 | -€9,583 | -2.5% |
| Plant, machinery and equipment | 23 | €64,741 | €40,604 | -€24,137 | -37.3% |
| Furniture and vehicles | 24 | €332,322 | €350,317 | +€17,995 | +5.4% |
| Financial fixed assets | 28 | €2,000,512 | €2,116,139 | +€115,627 | +5.8% |
| Current assets | 29/58 | €2,053,983 | €2,401,658 | +€347,675 | +16.9% |
| Amounts receivable after more than one year | 29 | €209,281 | €209,281 | = | 0.0% |
| Other amounts receivable | 291 | €209,281 | €209,281 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €855,822 | €1,274,510 | +€418,689 | +48.9% |
| Trade receivables | 40 | €285,661 | €460,717 | +€175,057 | +61.3% |
| Other amounts receivable | 41 | €570,161 | €813,793 | +€243,632 | +42.7% |
| Current investments | 50/53 | €779,989 | €781,886 | +€1,897 | +0.2% |
| Cash at bank and in hand | 54/58 | €62,089 | €135,982 | +€73,892 | +119.0% |
| Deferred charges and accrued income | 490/1 | €146,803 | €0 | -€146,803 | -100.0% |
| Total equity and liabilities | 10/49 | €4,853,299 | €5,290,204 | +€436,906 | +9.0% |
| Equity | 10/15 | €1,706,225 | €1,956,307 | +€250,081 | +14.7% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €63,980 | €63,980 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €38,603 | €38,603 | = | 0.0% |
| Distributable reserves | 133 | €25,378 | €25,378 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,517,245 | €1,767,326 | +€250,081 | +16.5% |
| Provisions and deferred taxes | 16 | €260,000 | €260,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €260,000 | €260,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €260,000 | €260,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,887,073 | €3,073,898 | +€186,825 | +6.5% |
| Amounts payable after more than one year | 17 | €1,693,893 | €1,828,492 | +€134,599 | +7.9% |
| Financial debts | 170/4 | €1,693,893 | €1,828,492 | +€134,599 | +7.9% |
| Amounts payable within one year | 42/48 | €1,159,542 | €1,230,436 | +€70,894 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €302,552 | €296,736 | -€5,816 | -1.9% |
| Financial debts | 43 | €60,000 | €60,000 | = | 0.0% |
| Credit institutions | 430/8 | €60,000 | €60,000 | = | 0.0% |
| Trade debts | 44 | €175,725 | €288,063 | +€112,338 | +63.9% |
| Suppliers | 440/4 | €175,725 | €288,063 | +€112,338 | +63.9% |
| Taxes, remuneration and social security | 45 | €143,342 | €230,903 | +€87,561 | +61.1% |
| Taxes | 450/3 | €97,661 | €181,559 | +€83,899 | +85.9% |
| Remuneration and social security | 454/9 | €45,682 | €49,344 | +€3,662 | +8.0% |
| Other amounts payable | 47/48 | €477,924 | €354,734 | -€123,189 | -25.8% |
| Accrued charges and deferred income | 492/3 | €33,637 | €14,969 | -€18,668 | -55.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,094,609 | €1,195,941 | +€101,332 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,350 | €163,489 | +€36,139 | +28.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,816 | +€3,816 | |
| Other operating charges | 640/8 | €26,478 | €80,900 | +€54,422 | +205.5% |
| Non-recurring operating charges | 66A | €0 | €6,682 | +€6,682 | |
| Gross operating margin | 9900 | €1,883,117 | €2,096,016 | +€212,899 | +11.3% |
| Operating profit (loss) | 9901 | €634,681 | €645,189 | +€10,508 | +1.7% |
| Financial income | 75/76B | €141,161 | €235,467 | +€94,306 | +66.8% |
| Recurring financial income | 75 | €141,161 | €235,467 | +€94,306 | +66.8% |
| Financial charges | 65/66B | €31,364 | €52,284 | +€20,921 | +66.7% |
| Recurring financial charges | 65 | €31,364 | €52,284 | +€20,921 | +66.7% |
| Profit (loss) for the period before taxes | 9903 | €744,478 | €828,372 | +€83,893 | +11.3% |
| Income taxes | 67/77 | €149,903 | €178,291 | +€28,387 | +18.9% |
| Profit (loss) for the period | 9904 | €594,575 | €650,081 | +€55,506 | +9.3% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €594,575 | €650,081 | +€55,506 | +9.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.