STEMAR UTILITIES: what changed
What changed
STEMAR UTILITIES
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
filed annual accounts (NBB)
Net result for the year
€141,721
2024 · €45,503+€96,218
Equity
€1.3m
2024 · €1.1m+€141,721
Cash
€638,952
2024 · €842,144-€203,191
Balance sheet total
€9.6m
2024 · €9.3m+€269,316
Largest movements
Assets
- Tangible fixed assets +€416,648
up €416,648 (+5.3%), from €7.9m to €8.3m
of which Furniture and vehicles: +€421,467
- Cash -€203,191
down €203,191 (-24.1%), from €842,144 to €638,952
mainly Investment in fixed assets (net) (-€3.1m) and Debts after one year (-€336,321)
Equity and liabilities
- Debts after one year -€336,321
down €336,321 (-6.9%), from €4.9m to €4.6m
- Current portion of long-term debt +€302,986
up €302,986 (+10.3%), from €2.9m to €3.2m
- Reserves +€141,721
up €141,721 (+20.1%), from €704,793 to €846,513
of which Distributable reserves: +€141,721
Income statement
- Gross operating margin +€374,139
up €374,139 (+12.7%), from €2.9m to €3.3m
- Depreciation +€127,121
up €127,121 (+5.0%), from €2.6m to €2.7m
- Taxes +€42,718
up €42,718 (+500%), from €8,551 to €51,269
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€45,503
Gross operating margin
+€374,139
Staff costs
+€316
Depreciation
-€127,121
Other operating charges
-€1,004
Other operating items
-€77,418
Financial income
-€688
Financial charges
-€29,289
Taxes
-€42,718
Result 2025
€141,721
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.9m
Investment
-€3.1m
Financing
-€18,233
Cash 2024
€842,144
From operations (derived)
+€2.9m
Net result for the year
+€141,721
Depreciation
+€2.7m
Smaller working-capital items
+€2,921
Receivables within one year
-€58,907
Trade debts
+€86,640
Tax, wage and social debts
+€9,189
Accrued charges and deferred income
+€50,000
Investment (derived)
-€3.1m
Investment in fixed assets (net)
-€3.1m
Financing
-€18,233
Debts after one year
-€336,321
Current portion of long-term debt
+€302,986
Short-term financial debts
+€15,102
Cash 2025
€638,952
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,282,884 | €9,552,200 | +€269,316 | +2.9% |
| Fixed assets | 21/28 | €7,912,762 | €8,329,283 | +€416,521 | +5.3% |
| Intangible fixed assets | 21 | €127 | - | -€127 | |
| Tangible fixed assets | 22/27 | €7,912,635 | €8,329,283 | +€416,648 | +5.3% |
| Land and buildings | 22 | €1,380,000 | €1,361,365 | -€18,635 | -1.4% |
| Plant, machinery and equipment | 23 | €43,449 | €57,266 | +€13,816 | +31.8% |
| Furniture and vehicles | 24 | €6,489,185 | €6,910,652 | +€421,467 | +6.5% |
| Current assets | 29/58 | €1,370,123 | €1,222,917 | -€147,206 | -10.7% |
| Amounts receivable after more than one year | 29 | €7,500 | €5,212 | -€2,288 | -30.5% |
| Other amounts receivable | 291 | €7,500 | €5,212 | -€2,288 | -30.5% |
| Stocks and contracts in progress | 3 | €34,300 | €36,015 | +€1,715 | +5.0% |
| Stocks | 30/36 | €34,300 | €36,015 | +€1,715 | +5.0% |
| Amounts receivable within one year | 40/41 | €185,577 | €244,484 | +€58,907 | +31.7% |
| Trade receivables | 40 | €158,878 | €217,785 | +€58,907 | +37.1% |
| Other amounts receivable | 41 | €26,699 | €26,699 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €842,144 | €638,952 | -€203,191 | -24.1% |
| Deferred charges and accrued income | 490/1 | €300,602 | €298,253 | -€2,348 | -0.8% |
| Total equity and liabilities | 10/49 | €9,282,884 | €9,552,200 | +€269,316 | +2.9% |
| Equity | 10/15 | €1,111,777 | €1,253,498 | +€141,721 | +12.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Revaluation surpluses | 12 | €366,985 | €366,985 | = | 0.0% |
| Reserves | 13 | €704,793 | €846,513 | +€141,721 | +20.1% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €700,793 | €842,513 | +€141,721 | +20.2% |
| Amounts payable | 17/49 | €8,171,107 | €8,298,702 | +€127,595 | +1.6% |
| Amounts payable after more than one year | 17 | €4,887,561 | €4,551,240 | -€336,321 | -6.9% |
| Financial debts | 170/4 | €4,887,561 | €4,551,240 | -€336,321 | -6.9% |
| Amounts payable within one year | 42/48 | €3,283,546 | €3,697,462 | +€413,916 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €2,932,619 | €3,235,605 | +€302,986 | +10.3% |
| Financial debts | 43 | - | €15,102 | +€15,102 | |
| Credit institutions | 430/8 | - | €15,102 | +€15,102 | |
| Trade debts | 44 | €328,537 | €415,177 | +€86,640 | +26.4% |
| Suppliers | 440/4 | €328,537 | €415,177 | +€86,640 | +26.4% |
| Taxes, remuneration and social security | 45 | €22,138 | €31,327 | +€9,189 | +41.5% |
| Taxes | 450/3 | €15,932 | €24,887 | +€8,954 | +56.2% |
| Remuneration and social security | 454/9 | €6,206 | €6,440 | +€235 | +3.8% |
| Other amounts payable | 47/48 | €251 | €251 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €50,000 | +€50,000 | |
| Non-recurring operating income | 76A | €460,204 | €614,628 | +€154,424 | +33.6% |
| Remuneration, social security and pensions | 62 | €58,651 | €58,335 | -€316 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,560,243 | €2,687,363 | +€127,121 | +5.0% |
| Other operating charges | 640/8 | €5,270 | €6,274 | +€1,004 | +19.1% |
| Non-recurring operating charges | 66A | €21,977 | €99,394 | +€77,418 | +352% |
| Gross operating margin | 9900 | €2,940,835 | €3,314,975 | +€374,139 | +12.7% |
| Operating profit (loss) | 9901 | €294,695 | €463,608 | +€168,913 | +57.3% |
| Financial income | 75/76B | €1,997 | €1,309 | -€688 | -34.4% |
| Recurring financial income | 75 | €1,997 | €1,309 | -€688 | -34.4% |
| Financial charges | 65/66B | €242,638 | €271,927 | +€29,289 | +12.1% |
| Recurring financial charges | 65 | €242,638 | €271,927 | +€29,289 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €54,054 | €192,990 | +€138,936 | +257% |
| Income taxes | 67/77 | €8,551 | €51,269 | +€42,718 | +500% |
| Profit (loss) for the period | 9904 | €45,503 | €141,721 | +€96,218 | +211% |
| Profit (loss) for the period to be appropriated | 9905 | €45,503 | €141,721 | +€96,218 | +211% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.