STEMOL: 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.
STEMOL
Largest movements
- Cash -€128,065
down €128,065 (-46.2%), from €277,388 to €149,323
mainly Other debts (-€745,030) and Receivables within one year (-€108,813)
- Profit (loss) carried forward +€851,319
up €851,319 (+9.0%), from €9.4m to €10.3m
- Other debts -€745,030
down €745,030 (-50.7%), from €1.5m to €724,948
- Financial income +€867,139
up €867,139 (+175990.2%), from €493 to €867,632
- Financial charges -€19,070
down €19,070 (-14.0%), from €136,117 to €117,047
- Gross operating margin +€16,271
up €16,271 (+14.0%), from €116,009 to €132,280
- Taxes +€15,519
up €15,519, from -€15,205 to €314
- Depreciation +€14,817
up €14,817 (+100.4%), from €14,754 to €29,571
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 | €12,217,702 | €12,328,955 | +€111,254 | +0.9% |
| Fixed assets | 21/28 | €11,900,969 | €11,941,071 | +€40,102 | +0.3% |
| Tangible fixed assets | 22/27 | €35,594 | €75,696 | +€40,102 | +112.7% |
| Furniture and vehicles | 24 | €29,336 | €29,563 | +€227 | +0.8% |
| Other tangible fixed assets | 26 | €6,258 | €46,133 | +€39,875 | +637.2% |
| Financial fixed assets | 28 | €11,865,375 | €11,865,375 | = | 0.0% |
| Current assets | 29/58 | €316,733 | €387,884 | +€71,151 | +22.5% |
| Amounts receivable within one year | 40/41 | €39,345 | €148,158 | +€108,813 | +276.6% |
| Trade receivables | 40 | - | €87,500 | +€87,500 | |
| Other amounts receivable | 41 | €39,345 | €60,658 | +€21,313 | +54.2% |
| Cash at bank and in hand | 54/58 | €277,388 | €149,323 | -€128,065 | -46.2% |
| Deferred charges and accrued income | 490/1 | - | €90,403 | +€90,403 | |
| Total equity and liabilities | 10/49 | €12,217,702 | €12,328,955 | +€111,254 | +0.9% |
| Equity | 10/15 | €9,883,977 | €10,735,296 | +€851,319 | +8.6% |
| Contributions | 10/11 | €438,712 | €438,712 | = | 0.0% |
| Reserves | 13 | €34,050 | €34,050 | = | 0.0% |
| Distributable reserves | 133 | €34,050 | €34,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,411,215 | €10,262,534 | +€851,319 | +9.0% |
| Amounts payable | 17/49 | €2,333,725 | €1,593,660 | -€740,065 | -31.7% |
| Amounts payable after more than one year | 17 | €722,081 | €757,075 | +€34,994 | +4.8% |
| Other amounts payable | 178/9 | €722,081 | €757,075 | +€34,994 | +4.8% |
| Amounts payable within one year | 42/48 | €1,544,233 | €780,714 | -€763,519 | -49.4% |
| Financial debts | 43 | €8,466 | €11,805 | +€3,339 | +39.4% |
| Credit institutions | 430/8 | €8,466 | €11,805 | +€3,339 | +39.4% |
| Trade debts | 44 | €33,118 | €14,368 | -€18,750 | -56.6% |
| Suppliers | 440/4 | €33,118 | €14,368 | -€18,750 | -56.6% |
| Taxes, remuneration and social security | 45 | €32,671 | €29,593 | -€3,078 | -9.4% |
| Taxes | 450/3 | €32,671 | €29,593 | -€3,078 | -9.4% |
| Other amounts payable | 47/48 | €1,469,978 | €724,948 | -€745,030 | -50.7% |
| Accrued charges and deferred income | 492/3 | €67,411 | €55,871 | -€11,540 | -17.1% |
| Non-recurring operating income | 76A | €2,916 | - | -€2,916 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,754 | €29,571 | +€14,817 | +100.4% |
| Other operating charges | 640/8 | €1,886 | €1,660 | -€226 | -12.0% |
| Gross operating margin | 9900 | €116,009 | €132,280 | +€16,271 | +14.0% |
| Operating profit (loss) | 9901 | €99,369 | €101,048 | +€1,679 | +1.7% |
| Financial income | 75/76B | €493 | €867,632 | +€867,139 | +175990.2% |
| Recurring financial income | 75 | €493 | €867,632 | +€867,139 | +175990.2% |
| Financial charges | 65/66B | €136,117 | €117,047 | -€19,070 | -14.0% |
| Recurring financial charges | 65 | €136,117 | €117,047 | -€19,070 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | -€36,256 | €851,633 | +€887,888 | |
| Income taxes | 67/77 | -€15,205 | €314 | +€15,519 | |
| Profit (loss) for the period | 9904 | -€21,051 | €851,319 | +€872,370 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,051 | €851,319 | +€872,370 |
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 3 October 2026 via checked.be.