STEMAR: 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.
STEMAR
Largest movements
- Cash -€64,379
down €64,379 (-82.2%), from €78,287 to €13,908
mainly Other debts (-€126,193) and Current portion of long-term debt (-€23,100)
- Receivables within one year -€48,521
down €48,521 (-53.3%), from €91,059 to €42,538
of which Other amounts receivable: -€74,645
- Other debts -€126,193
no longer reported in 2024 (was €126,193)
- Current portion of long-term debt -€23,100
no longer reported in 2024 (was €23,100)
- Trade debts +€17,352
new in 2024: €17,352
- Accrued charges and deferred income +€7,706
new in 2024: €7,706
- Purchases and services +€22,824
up €22,824 (+610.2%), from €3,740 to €26,564
- Turnover +€14,540
up €14,540 (+52.4%), from €27,770 to €42,310
- Taxes -€14,419
no longer reported in 2024 (was €14,419)
- Gross operating margin -€8,284
down €8,284 (-34.5%), from €24,030 to €15,746
- Other operating charges -€1,217
down €1,217 (-46.8%), from €2,604 to €1,386
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €743,456 | €623,234 | -€120,222 | -16.2% |
| Fixed assets | 21/28 | €574,110 | €566,760 | -€7,350 | -1.3% |
| Tangible fixed assets | 22/27 | €573,110 | €565,760 | -€7,350 | -1.3% |
| Land and buildings | 22 | €552,660 | €552,660 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,450 | - | -€1,450 | |
| Furniture and vehicles | 24 | €19,000 | €13,100 | -€5,900 | -31.1% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €169,346 | €56,475 | -€112,872 | -66.7% |
| Amounts receivable within one year | 40/41 | €91,059 | €42,538 | -€48,521 | -53.3% |
| Trade receivables | 40 | €376 | €26,500 | +€26,124 | +6946.9% |
| Other amounts receivable | 41 | €90,683 | €16,038 | -€74,645 | -82.3% |
| Cash at bank and in hand | 54/58 | €78,287 | €13,908 | -€64,379 | -82.2% |
| Deferred charges and accrued income | 490/1 | - | €28 | +€28 | |
| Total equity and liabilities | 10/49 | €743,456 | €623,234 | -€120,222 | -16.2% |
| Equity | 10/15 | €523,984 | €526,314 | +€2,330 | +0.4% |
| Contributions | 10/11 | €40,307 | €40,307 | = | 0.0% |
| Capital | 10 | €40,307 | €40,307 | = | 0.0% |
| Issued capital | 100 | €40,307 | €40,307 | = | 0.0% |
| Reserves | 13 | €71,809 | €71,809 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €13,906 | €13,906 | = | 0.0% |
| Legal reserve | 130 | €13,906 | €13,906 | = | 0.0% |
| Distributable reserves | 133 | €57,903 | €57,903 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €411,868 | €414,197 | +€2,330 | +0.6% |
| Amounts payable | 17/49 | €219,472 | €96,920 | -€122,552 | -55.8% |
| Amounts payable after more than one year | 17 | €69,300 | €69,300 | = | 0.0% |
| Financial debts | 170/4 | €69,300 | €69,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €150,172 | €19,914 | -€130,258 | -86.7% |
| Current portion of amounts payable after more than one year | 42 | €23,100 | - | -€23,100 | |
| Trade debts | 44 | - | €17,352 | +€17,352 | |
| Suppliers | 440/4 | - | €17,352 | +€17,352 | |
| Taxes, remuneration and social security | 45 | €879 | €2,562 | +€1,683 | +191.4% |
| Taxes | 450/3 | €879 | €2,562 | +€1,683 | +191.4% |
| Other amounts payable | 47/48 | €126,193 | - | -€126,193 | |
| Accrued charges and deferred income | 492/3 | - | €7,706 | +€7,706 | |
| Turnover | 70 | €27,770 | €42,310 | +€14,540 | +52.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,740 | €26,564 | +€22,824 | +610.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,350 | €7,350 | = | 0.0% |
| Other operating charges | 640/8 | €2,604 | €1,386 | -€1,217 | -46.8% |
| Gross operating margin | 9900 | €24,030 | €15,746 | -€8,284 | -34.5% |
| Operating profit (loss) | 9901 | €14,076 | €7,009 | -€7,067 | -50.2% |
| Financial charges | 65/66B | €5,554 | €4,679 | -€875 | -15.8% |
| Recurring financial charges | 65 | €5,554 | €4,679 | -€875 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €8,521 | €2,330 | -€6,191 | -72.7% |
| Income taxes | 67/77 | €14,419 | - | -€14,419 | |
| Profit (loss) for the period | 9904 | -€5,898 | €2,330 | +€8,227 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,898 | €2,330 | +€8,227 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.