STEMO: 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.
STEMO
Largest movements
- Receivables within one year +€139,036
up €139,036 (+304.5%), from €45,666 to €184,702
of which Trade receivables: +€143,867
- Tangible fixed assets +€29,542
up €29,542 (+93.7%), from €31,518 to €61,061
of which Plant, machinery and equipment: +€28,426
- Stocks and contracts -€16,859
down €16,859 (-13.9%), from €120,859 to €104,000
- Accrued charges and deferred income +€337,000
new in 2025: €337,000
- Other debts -€168,614
no longer reported in 2025 (was €168,614)
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Profit (loss) carried forward +€16,551
up €16,551 (+21.9%), from -€75,526 to -€58,975
- Tax, wage and social debts -€11,335
down €11,335 (-97.9%), from €11,582 to €247
- Purchases and services -€290,102
no longer reported in 2025 (was €290,102)
- Turnover -€240,823
no longer reported in 2025 (was €240,823)
- Gross operating margin +€77,493
up €77,493, from -€49,279 to €28,214
- Depreciation +€4,238
up €4,238 (+107.1%), from €3,959 to €8,196
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 | €206,175 | €358,990 | +€152,814 | +74.1% |
| Fixed assets | 21/28 | €31,518 | €61,061 | +€29,542 | +93.7% |
| Tangible fixed assets | 22/27 | €31,518 | €61,061 | +€29,542 | +93.7% |
| Plant, machinery and equipment | 23 | €22,641 | €51,067 | +€28,426 | +125.5% |
| Other tangible fixed assets | 26 | €8,877 | €9,993 | +€1,116 | +12.6% |
| Current assets | 29/58 | €174,657 | €297,929 | +€123,272 | +70.6% |
| Stocks and contracts in progress | 3 | €120,859 | €104,000 | -€16,859 | -13.9% |
| Stocks | 30/36 | €120,859 | €104,000 | -€16,859 | -13.9% |
| Amounts receivable within one year | 40/41 | €45,666 | €184,702 | +€139,036 | +304.5% |
| Trade receivables | 40 | €23,737 | €167,605 | +€143,867 | +606.1% |
| Other amounts receivable | 41 | €21,929 | €17,097 | -€4,831 | -22.0% |
| Cash at bank and in hand | 54/58 | €8,132 | €9,227 | +€1,095 | +13.5% |
| Total equity and liabilities | 10/49 | €206,175 | €358,990 | +€152,814 | +74.1% |
| Equity | 10/15 | -€55,139 | -€38,589 | +€16,550 | +30.0% |
| Contributions | 10/11 | €18,600 | €20,386 | +€1,786 | +9.6% |
| Reserves | 13 | €1,786 | - | -€1,786 | |
| Non-distributable reserves | 130/1 | €1,786 | - | -€1,786 | |
| Reserves not available under the articles | 1311 | €1,786 | - | -€1,786 | |
| Profit (loss) carried forward | 14 | -€75,526 | -€58,975 | +€16,551 | +21.9% |
| Amounts payable | 17/49 | €261,314 | €397,579 | +€136,264 | +52.1% |
| Amounts payable within one year | 42/48 | €261,314 | €60,579 | -€200,735 | -76.8% |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €56,119 | €60,332 | +€4,213 | +7.5% |
| Suppliers | 440/4 | €56,119 | €60,332 | +€4,213 | +7.5% |
| Taxes, remuneration and social security | 45 | €11,582 | €247 | -€11,335 | -97.9% |
| Taxes | 450/3 | €11,582 | €247 | -€11,335 | -97.9% |
| Other amounts payable | 47/48 | €168,614 | - | -€168,614 | |
| Accrued charges and deferred income | 492/3 | - | €337,000 | +€337,000 | |
| Turnover | 70 | €240,823 | - | -€240,823 | |
| Goods, raw materials, services and sundry goods | 60/61 | €290,102 | - | -€290,102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,959 | €8,196 | +€4,238 | +107.1% |
| Other operating charges | 640/8 | €387 | €2,360 | +€1,972 | +509.2% |
| Non-recurring operating charges | 66A | €875 | €270 | -€605 | -69.1% |
| Gross operating margin | 9900 | -€49,279 | €28,214 | +€77,493 | |
| Operating profit (loss) | 9901 | -€54,500 | €17,388 | +€71,888 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +5600.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5600.0% |
| Financial charges | 65/66B | €671 | €837 | +€166 | +24.8% |
| Recurring financial charges | 65 | €671 | €837 | +€166 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | -€55,172 | €16,551 | +€71,722 | |
| Profit (loss) for the period | 9904 | -€55,172 | €16,551 | +€71,722 | |
| Profit (loss) for the period to be appropriated | 9905 | -€55,172 | €16,551 | +€71,722 |
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 6 October 2026 via checked.be.