Stems-8: 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.
Stems-8
Largest movements
- Cash +€21,724
up €21,724 (+28.2%), from €77,022 to €98,746
mainly Net result for the year (+€19,062) and Depreciation (+€13,928)
- Tangible fixed assets -€13,494
down €13,494 (-92.3%), from €14,615 to €1,121
of which Furniture and vehicles: -€13,306
- Receivables within one year -€6,907
down €6,907 (-39.9%), from €17,318 to €10,411
of which Trade receivables: -€12,068
- Stocks and contracts -€1,540
down €1,540 (-86.4%), from €1,782 to €242
- Reserves +€19,062
up €19,062 (+30.6%), from €62,353 to €81,415
- Debts after one year -€8,000
down €8,000 (-42.1%), from €19,000 to €11,000
- Other debts -€7,756
down €7,756 (-100.0%), from €7,756 to €0
- Tax, wage and social debts -€3,733
down €3,733 (-53.8%), from €6,940 to €3,207
- Gross operating margin -€21,048
down €21,048 (-33.9%), from €62,035 to €40,987
- Taxes -€4,063
down €4,063 (-35.3%), from €11,522 to €7,459
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 | €112,397 | €112,223 | -€175 | -0.2% |
| Fixed assets | 21/28 | €14,615 | €1,121 | -€13,494 | -92.3% |
| Tangible fixed assets | 22/27 | €14,615 | €1,121 | -€13,494 | -92.3% |
| Plant, machinery and equipment | 23 | €1,307 | €1,119 | -€188 | -14.4% |
| Furniture and vehicles | 24 | €13,308 | €1 | -€13,306 | -100.0% |
| Current assets | 29/58 | €97,783 | €111,102 | +€13,319 | +13.6% |
| Stocks and contracts in progress | 3 | €1,782 | €242 | -€1,540 | -86.4% |
| Stocks | 30/36 | €1,782 | €242 | -€1,540 | -86.4% |
| Amounts receivable within one year | 40/41 | €17,318 | €10,411 | -€6,907 | -39.9% |
| Trade receivables | 40 | €17,302 | €5,234 | -€12,068 | -69.7% |
| Other amounts receivable | 41 | €16 | €5,177 | +€5,161 | +32623.4% |
| Cash at bank and in hand | 54/58 | €77,022 | €98,746 | +€21,724 | +28.2% |
| Deferred charges and accrued income | 490/1 | €1,660 | €1,702 | +€42 | +2.5% |
| Total equity and liabilities | 10/49 | €112,397 | €112,223 | -€175 | -0.2% |
| Equity | 10/15 | €70,353 | €89,415 | +€19,062 | +27.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €62,353 | €81,415 | +€19,062 | +30.6% |
| Distributable reserves | 133 | €62,353 | €81,415 | +€19,062 | +30.6% |
| Amounts payable | 17/49 | €42,044 | €22,807 | -€19,237 | -45.8% |
| Amounts payable after more than one year | 17 | €19,000 | €11,000 | -€8,000 | -42.1% |
| Financial debts | 170/4 | €19,000 | €11,000 | -€8,000 | -42.1% |
| Amounts payable within one year | 42/48 | €22,696 | €11,207 | -€11,489 | -50.6% |
| Current portion of amounts payable after more than one year | 42 | €8,000 | €8,000 | = | 0.0% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €6,940 | €3,207 | -€3,733 | -53.8% |
| Taxes | 450/3 | €6,940 | €3,207 | -€3,733 | -53.8% |
| Other amounts payable | 47/48 | €7,756 | €0 | -€7,756 | -100.0% |
| Accrued charges and deferred income | 492/3 | €348 | €600 | +€252 | +72.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,683 | €13,928 | +€245 | +1.8% |
| Other operating charges | 640/8 | €272 | €196 | -€76 | -27.9% |
| Gross operating margin | 9900 | €62,035 | €40,987 | -€21,048 | -33.9% |
| Operating profit (loss) | 9901 | €48,080 | €26,863 | -€21,217 | -44.1% |
| Financial income | 75/76B | - | €54 | +€54 | |
| Recurring financial income | 75 | - | €54 | +€54 | |
| Financial charges | 65/66B | €497 | €396 | -€101 | -20.3% |
| Recurring financial charges | 65 | €497 | €396 | -€101 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €47,583 | €26,521 | -€21,062 | -44.3% |
| Income taxes | 67/77 | €11,522 | €7,459 | -€4,063 | -35.3% |
| Profit (loss) for the period | 9904 | €36,062 | €19,062 | -€16,999 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,062 | €19,062 | -€16,999 | -47.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.