STEMAT: what changed
What changed
STEMAT
NACE 43.240, Other construction installation
filed annual accounts (NBB)
Net result for the year
€51,602
2024 · €31,382+€20,219
Equity
€583,439
2024 · €531,838+€51,602
Cash
€14,555
2024 · €35,700-€21,145
Balance sheet total
€2.2m
2024 · €2.4m-€139,404
Largest movements
Assets
- Tangible fixed assets -€104,603
down €104,603 (-5.0%), from €2.1m to €2.0m
of which Land and buildings: -€97,877
Equity and liabilities
- Debts after one year -€168,141
down €168,141 (-11.6%), from €1.4m to €1.3m
- Reserves +€50,000
up €50,000 (+11.4%), from €438,750 to €488,750
of which Distributable reserves: +€50,000
- Trade debts -€27,494
down €27,494 (-40.2%), from €68,324 to €40,829
Income statement
- Gross operating margin +€37,454
up €37,454 (+17.1%), from €219,165 to €256,618
- Taxes +€10,942
up €10,942 (+185%), from €5,921 to €16,863
- Depreciation +€3,430
up €3,430 (+2.3%), from €148,765 to €152,195
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
€31,382
Gross operating margin
+€37,454
Depreciation
-€3,430
Other operating charges
-€802
Financial income
-€438
Financial charges
-€1,622
Taxes
-€10,942
Result 2025
€51,602
raises the resultlowers the result
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
+€182,553
Investment
-€46,377
Financing
-€157,321
Cash 2024
€35,700
From operations (derived)
+€182,553
Net result for the year
+€51,602
Depreciation
+€152,195
Stocks and contracts
+€10,515
Receivables within one year
+€2,033
Deferred charges and accrued income
-€106
Trade debts
-€27,494
Tax, wage and social debts
+€8,164
Other debts
-€16,054
Accrued charges and deferred income
+€1,700
Investment (derived)
-€46,377
Investment in fixed assets (net)
-€46,377
Financing
-€157,321
Debts after one year
-€168,141
Current portion of long-term debt
+€10,820
Cash 2025
€14,555
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,388,034 | €2,248,630 | -€139,404 | -5.8% |
| Fixed assets | 21/28 | €2,302,682 | €2,196,865 | -€105,818 | -4.6% |
| Intangible fixed assets | 21 | €3,884 | €2,669 | -€1,215 | -31.3% |
| Tangible fixed assets | 22/27 | €2,109,984 | €2,005,381 | -€104,603 | -5.0% |
| Land and buildings | 22 | €2,009,842 | €1,911,965 | -€97,877 | -4.9% |
| Plant, machinery and equipment | 23 | €41,808 | €55,082 | +€13,274 | +31.8% |
| Furniture and vehicles | 24 | €58,333 | €38,333 | -€20,000 | -34.3% |
| Financial fixed assets | 28 | €188,815 | €188,815 | = | 0.0% |
| Current assets | 29/58 | €85,352 | €51,766 | -€33,586 | -39.4% |
| Stocks and contracts in progress | 3 | €20,612 | €10,098 | -€10,515 | -51.0% |
| Stocks | 30/36 | €20,612 | €10,098 | -€10,515 | -51.0% |
| Amounts receivable within one year | 40/41 | €28,869 | €26,836 | -€2,033 | -7.0% |
| Trade receivables | 40 | €19,778 | €26,836 | +€7,058 | +35.7% |
| Other amounts receivable | 41 | €9,091 | - | -€9,091 | |
| Cash at bank and in hand | 54/58 | €35,700 | €14,555 | -€21,145 | -59.2% |
| Deferred charges and accrued income | 490/1 | €171 | €277 | +€106 | +62.3% |
| Total equity and liabilities | 10/49 | €2,388,034 | €2,248,630 | -€139,404 | -5.8% |
| Equity | 10/15 | €531,838 | €583,439 | +€51,602 | +9.7% |
| Contributions | 10/11 | €92,850 | €92,850 | = | 0.0% |
| Reserves | 13 | €438,750 | €488,750 | +€50,000 | +11.4% |
| Tax-exempt reserves | 132 | €82,250 | €82,250 | = | 0.0% |
| Distributable reserves | 133 | €356,500 | €406,500 | +€50,000 | +14.0% |
| Profit (loss) carried forward | 14 | €238 | €1,839 | +€1,602 | +674% |
| Amounts payable | 17/49 | €1,856,197 | €1,665,191 | -€191,005 | -10.3% |
| Amounts payable after more than one year | 17 | €1,443,269 | €1,275,129 | -€168,141 | -11.6% |
| Financial debts | 170/4 | €1,443,269 | €1,275,129 | -€168,141 | -11.6% |
| Amounts payable within one year | 42/48 | €412,927 | €388,363 | -€24,565 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €157,754 | €168,574 | +€10,820 | +6.9% |
| Trade debts | 44 | €68,324 | €40,829 | -€27,494 | -40.2% |
| Suppliers | 440/4 | €68,324 | €40,829 | -€27,494 | -40.2% |
| Taxes, remuneration and social security | 45 | €875 | €9,039 | +€8,164 | +933% |
| Taxes | 450/3 | €875 | €9,039 | +€8,164 | +933% |
| Other amounts payable | 47/48 | €185,975 | €169,921 | -€16,054 | -8.6% |
| Accrued charges and deferred income | 492/3 | - | €1,700 | +€1,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,765 | €152,195 | +€3,430 | +2.3% |
| Other operating charges | 640/8 | €6,644 | €7,447 | +€802 | +12.1% |
| Gross operating margin | 9900 | €219,165 | €256,618 | +€37,454 | +17.1% |
| Operating profit (loss) | 9901 | €63,756 | €96,977 | +€33,221 | +52.1% |
| Financial income | 75/76B | €438 | - | -€438 | |
| Recurring financial income | 75 | €438 | - | -€438 | |
| Financial charges | 65/66B | €26,890 | €28,512 | +€1,622 | +6.0% |
| Recurring financial charges | 65 | €26,890 | €28,512 | +€1,622 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €37,304 | €68,465 | +€31,161 | +83.5% |
| Income taxes | 67/77 | €5,921 | €16,863 | +€10,942 | +185% |
| Profit (loss) for the period | 9904 | €31,382 | €51,602 | +€20,219 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,382 | €51,602 | +€20,219 | +64.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.