STEMICO: 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.
STEMICO
Largest movements
- Cash +€70,348
up €70,348 (+66.5%), from €105,768 to €176,116
mainly Net result for the year (+€104,410) and Depreciation (+€81,666)
- Tangible fixed assets -€59,706
down €59,706 (-3.5%), from €1.7m to €1.7m
of which Land and buildings: -€37,088
- Reserves +€104,410
up €104,410 (+29.1%), from €358,667 to €463,077
- Debts after one year -€92,144
down €92,144 (-8.2%), from €1.1m to €1.0m
of which Financial debts: -€62,144
- Trade debts -€35,261
down €35,261 (-9.1%), from €388,301 to €353,040
- Gross operating margin +€79,980
up €79,980 (+29.3%), from €272,783 to €352,763
- Depreciation +€26,468
up €26,468 (+48.0%), from €55,198 to €81,666
- Taxes +€21,338
up €21,338 (+280.7%), from €7,601 to €28,938
- Financial charges +€16,526
up €16,526 (+63.6%), from €25,999 to €42,525
- Staff costs +€6,197
up €6,197 (+6.8%), from €90,659 to €96,856
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 | €2,283,275 | €2,265,902 | -€17,373 | -0.8% |
| Fixed assets | 21/28 | €1,722,326 | €1,660,120 | -€62,206 | -3.6% |
| Intangible fixed assets | 21 | €5,836 | €3,336 | -€2,500 | -42.8% |
| Tangible fixed assets | 22/27 | €1,716,490 | €1,656,784 | -€59,706 | -3.5% |
| Land and buildings | 22 | €1,551,412 | €1,514,324 | -€37,088 | -2.4% |
| Furniture and vehicles | 24 | €41,809 | €33,665 | -€8,145 | -19.5% |
| Leasing and similar rights | 25 | €45,381 | €33,460 | -€11,921 | -26.3% |
| Other tangible fixed assets | 26 | €77,888 | €75,336 | -€2,553 | -3.3% |
| Current assets | 29/58 | €560,949 | €605,783 | +€44,833 | +8.0% |
| Stocks and contracts in progress | 3 | €176,406 | €160,406 | -€15,999 | -9.1% |
| Stocks | 30/36 | €135,044 | €120,042 | -€15,003 | -11.1% |
| Contracts in progress | 37 | €41,362 | €40,365 | -€997 | -2.4% |
| Amounts receivable within one year | 40/41 | €272,439 | €265,345 | -€7,094 | -2.6% |
| Trade receivables | 40 | €262,649 | €256,644 | -€6,004 | -2.3% |
| Other amounts receivable | 41 | €9,791 | €8,701 | -€1,090 | -11.1% |
| Cash at bank and in hand | 54/58 | €105,768 | €176,116 | +€70,348 | +66.5% |
| Deferred charges and accrued income | 490/1 | €6,336 | €3,915 | -€2,421 | -38.2% |
| Total equity and liabilities | 10/49 | €2,283,275 | €2,265,902 | -€17,373 | -0.8% |
| Equity | 10/15 | €386,667 | €491,077 | +€104,410 | +27.0% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Reserves | 13 | €358,667 | €463,077 | +€104,410 | +29.1% |
| Distributable reserves | 133 | €358,667 | €463,077 | +€104,410 | +29.1% |
| Amounts payable | 17/49 | €1,896,608 | €1,774,825 | -€121,783 | -6.4% |
| Amounts payable after more than one year | 17 | €1,124,366 | €1,032,222 | -€92,144 | -8.2% |
| Financial debts | 170/4 | €824,366 | €762,222 | -€62,144 | -7.5% |
| Other amounts payable | 178/9 | €300,000 | €270,000 | -€30,000 | -10.0% |
| Amounts payable within one year | 42/48 | €768,702 | €731,981 | -€36,721 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €102,575 | €80,865 | -€21,710 | -21.2% |
| Financial debts | 43 | €200,000 | €212,528 | +€12,528 | +6.3% |
| Credit institutions | 430/8 | €200,000 | €212,528 | +€12,528 | +6.3% |
| Trade debts | 44 | €388,301 | €353,040 | -€35,261 | -9.1% |
| Suppliers | 440/4 | €388,301 | €353,040 | -€35,261 | -9.1% |
| Taxes, remuneration and social security | 45 | €75,671 | €76,738 | +€1,067 | +1.4% |
| Taxes | 450/3 | €66,388 | €59,044 | -€7,344 | -11.1% |
| Remuneration and social security | 454/9 | €9,283 | €17,694 | +€8,410 | +90.6% |
| Other amounts payable | 47/48 | €2,154 | €8,810 | +€6,655 | +308.9% |
| Accrued charges and deferred income | 492/3 | €3,541 | €10,622 | +€7,082 | +200.0% |
| Remuneration, social security and pensions | 62 | €90,659 | €96,856 | +€6,197 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,198 | €81,666 | +€26,468 | +48.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,549 | -€835 | -€4,383 | |
| Other operating charges | 640/8 | €5,150 | €6,440 | +€1,290 | +25.1% |
| Non-recurring operating charges | 66A | €716 | - | -€716 | |
| Gross operating margin | 9900 | €272,783 | €352,763 | +€79,980 | +29.3% |
| Operating profit (loss) | 9901 | €117,512 | €168,636 | +€51,124 | +43.5% |
| Financial income | 75/76B | €3,490 | €7,238 | +€3,748 | +107.4% |
| Recurring financial income | 75 | €3,490 | €7,238 | +€3,748 | +107.4% |
| Financial charges | 65/66B | €25,999 | €42,525 | +€16,526 | +63.6% |
| Recurring financial charges | 65 | €25,999 | €42,525 | +€16,526 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €95,004 | €133,349 | +€38,345 | +40.4% |
| Income taxes | 67/77 | €7,601 | €28,938 | +€21,338 | +280.7% |
| Profit (loss) for the period | 9904 | €87,403 | €104,410 | +€17,008 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,403 | €104,410 | +€17,008 | +19.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.