STEMEI: 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.
STEMEI
Largest movements
- Cash +€67,831
up €67,831 (+775.2%), from €8,750 to €76,582
mainly Receivables within one year (+€62,251) and Net result for the year (+€37,546)
- Receivables within one year -€62,251
no longer reported in 2025 (was €62,251)
of which Other amounts receivable: -€61,082
- Deferred charges and accrued income +€26,302
up €26,302 (+167.0%), from €15,747 to €42,050
- Reserves +€37,546
up €37,546 (+46.9%), from €80,007 to €117,553
- Debts after one year -€10,381
down €10,381 (-32.1%), from €32,307 to €21,926
- Other debts +€2,246
up €2,246 (+60.8%), from €3,695 to €5,941
- Gross operating margin +€26,148
up €26,148 (+59.5%), from €43,957 to €70,105
- Taxes +€9,407
up €9,407 (+104.8%), from €8,974 to €18,381
- Other operating charges -€804
down €804 (-56.6%), from €1,419 to €616
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 | €129,019 | €161,122 | +€32,102 | +24.9% |
| Fixed assets | 21/28 | €42,271 | €42,490 | +€219 | +0.5% |
| Tangible fixed assets | 22/27 | €42,198 | €42,417 | +€219 | +0.5% |
| Plant, machinery and equipment | 23 | - | €1,415 | +€1,415 | |
| Furniture and vehicles | 24 | €42,198 | €30,672 | -€11,526 | -27.3% |
| Other tangible fixed assets | 26 | - | €10,330 | +€10,330 | |
| Financial fixed assets | 28 | €73 | €73 | = | 0.0% |
| Current assets | 29/58 | €86,748 | €118,632 | +€31,883 | +36.8% |
| Amounts receivable within one year | 40/41 | €62,251 | - | -€62,251 | |
| Trade receivables | 40 | €1,168 | - | -€1,168 | |
| Other amounts receivable | 41 | €61,082 | - | -€61,082 | |
| Cash at bank and in hand | 54/58 | €8,750 | €76,582 | +€67,831 | +775.2% |
| Deferred charges and accrued income | 490/1 | €15,747 | €42,050 | +€26,302 | +167.0% |
| Total equity and liabilities | 10/49 | €129,019 | €161,122 | +€32,102 | +24.9% |
| Equity | 10/15 | €83,007 | €120,553 | +€37,546 | +45.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €80,007 | €117,553 | +€37,546 | +46.9% |
| Distributable reserves | 133 | €80,007 | €117,553 | +€37,546 | +46.9% |
| Amounts payable | 17/49 | €46,013 | €40,569 | -€5,443 | -11.8% |
| Amounts payable after more than one year | 17 | €32,307 | €21,926 | -€10,381 | -32.1% |
| Financial debts | 170/4 | €32,307 | €21,926 | -€10,381 | -32.1% |
| Amounts payable within one year | 42/48 | €13,706 | €17,693 | +€3,987 | +29.1% |
| Current portion of amounts payable after more than one year | 42 | €10,011 | €10,381 | +€370 | +3.7% |
| Trade debts | 44 | - | €21 | +€21 | |
| Suppliers | 440/4 | - | €21 | +€21 | |
| Taxes, remuneration and social security | 45 | - | €1,351 | +€1,351 | |
| Taxes | 450/3 | - | €1,351 | +€1,351 | |
| Other amounts payable | 47/48 | €3,695 | €5,941 | +€2,246 | +60.8% |
| Accrued charges and deferred income | 492/3 | - | €950 | +€950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,539 | €12,018 | +€478 | +4.1% |
| Other operating charges | 640/8 | €1,419 | €616 | -€804 | -56.6% |
| Gross operating margin | 9900 | €43,957 | €70,105 | +€26,148 | +59.5% |
| Operating profit (loss) | 9901 | €30,998 | €57,471 | +€26,473 | +85.4% |
| Financial income | 75/76B | - | €112 | +€112 | |
| Recurring financial income | 75 | - | €112 | +€112 | |
| Financial charges | 65/66B | €2,161 | €1,656 | -€505 | -23.4% |
| Recurring financial charges | 65 | €2,161 | €1,656 | -€505 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €28,837 | €55,927 | +€27,090 | +93.9% |
| Income taxes | 67/77 | €8,974 | €18,381 | +€9,407 | +104.8% |
| Profit (loss) for the period | 9904 | €19,863 | €37,546 | +€17,683 | +89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,863 | €37,546 | +€17,683 | +89.0% |
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 2 October 2026 via checked.be.