Stemco: 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.
Stemco
Largest movements
- Current investments +€100,000
up €100,000 (+99.5%), from €100,546 to €200,546
- Cash -€15,504
down €15,504 (-27.6%), from €56,178 to €40,674
mainly Current investments (-€100,000) and Tax, wage and social debts (-€13,318)
- Receivables within one year +€11,462
up €11,462 (+37.4%), from €30,613 to €42,075
of which Trade receivables: +€9,045
- Reserves +€109,918
up €109,918 (+67.3%), from €163,333 to €273,251
- Tax, wage and social debts -€13,318
down €13,318 (-56.1%), from €23,726 to €10,408
- Gross operating margin -€12,746
down €12,746 (-7.8%), from €163,181 to €150,435
- Taxes -€3,080
down €3,080 (-7.6%), from €40,663 to €37,582
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 | €191,174 | €286,398 | +€95,224 | +49.8% |
| Fixed assets | 21/28 | €3,084 | €2,180 | -€904 | -29.3% |
| Tangible fixed assets | 22/27 | €3,084 | €2,180 | -€904 | -29.3% |
| Plant, machinery and equipment | 23 | €1,868 | €1,370 | -€498 | -26.7% |
| Furniture and vehicles | 24 | €1,216 | €810 | -€406 | -33.4% |
| Current assets | 29/58 | €188,090 | €284,218 | +€96,128 | +51.1% |
| Amounts receivable within one year | 40/41 | €30,613 | €42,075 | +€11,462 | +37.4% |
| Trade receivables | 40 | €30,613 | €39,658 | +€9,045 | +29.5% |
| Other amounts receivable | 41 | - | €2,418 | +€2,418 | |
| Current investments | 50/53 | €100,546 | €200,546 | +€100,000 | +99.5% |
| Cash at bank and in hand | 54/58 | €56,178 | €40,674 | -€15,504 | -27.6% |
| Deferred charges and accrued income | 490/1 | €754 | €923 | +€170 | +22.5% |
| Total equity and liabilities | 10/49 | €191,174 | €286,398 | +€95,224 | +49.8% |
| Equity | 10/15 | €165,833 | €275,751 | +€109,918 | +66.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €163,333 | €273,251 | +€109,918 | +67.3% |
| Distributable reserves | 133 | €163,333 | €273,251 | +€109,918 | +67.3% |
| Amounts payable | 17/49 | €25,341 | €10,647 | -€14,694 | -58.0% |
| Amounts payable within one year | 42/48 | €25,341 | €10,647 | -€14,694 | -58.0% |
| Trade debts | 44 | €1,610 | €193 | -€1,417 | -88.0% |
| Suppliers | 440/4 | €1,610 | €193 | -€1,417 | -88.0% |
| Taxes, remuneration and social security | 45 | €23,726 | €10,408 | -€13,318 | -56.1% |
| Taxes | 450/3 | €23,726 | €10,408 | -€13,318 | -56.1% |
| Other amounts payable | 47/48 | €5 | €46 | +€41 | +860.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €499 | €904 | +€405 | +81.0% |
| Gross operating margin | 9900 | €163,181 | €150,435 | -€12,746 | -7.8% |
| Operating profit (loss) | 9901 | €162,682 | €149,532 | -€13,150 | -8.1% |
| Financial income | 75/76B | €783 | - | -€783 | |
| Recurring financial income | 75 | €783 | - | -€783 | |
| Financial charges | 65/66B | €2,237 | €2,031 | -€206 | -9.2% |
| Recurring financial charges | 65 | €2,237 | €2,031 | -€206 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €161,228 | €147,501 | -€13,727 | -8.5% |
| Income taxes | 67/77 | €40,663 | €37,582 | -€3,080 | -7.6% |
| Profit (loss) for the period | 9904 | €120,565 | €109,918 | -€10,647 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €120,565 | €109,918 | -€10,647 | -8.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.