Stemy Belgium: what changed
Two financial 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.
Stemy Belgium
Largest movements
- Tangible fixed assets +€50,897
up €50,897 (+120%), from €42,441 to €93,339
of which Furniture and vehicles: +€54,288
- Receivables within one year +€29,693
new in 2025: €29,693
- Cash -€20,598
down €20,598 (-84.1%), from €24,500 to €3,902
mainly Investment in fixed assets (net) (-€68,979) and Trade debts (-€34,065)
- Deferred charges and accrued income -€7,798
down €7,798 (-19.4%), from €40,110 to €32,312
- Financial fixed assets -€3,900
down €3,900 (-83.0%), from €4,700 to €800
- Profit (loss) carried forward +€72,471
up €72,471 (+295%), from €24,534 to €97,005
- Trade debts -€34,065
down €34,065 (-34.0%), from €100,162 to €66,097
- Tax, wage and social debts +€9,889
up €9,889 (+9.4%), from €104,787 to €114,676
of which Taxes: +€6,460
- Purchases and services -€375,810
down €375,810 (-49.7%), from €756,543 to €380,733
- Turnover -€307,368
down €307,368 (-29.1%), from €1.1m to €747,774
- Gross operating margin +€52,363
up €52,363 (+16.5%), from €317,178 to €369,541
- Staff costs -€14,398
down €14,398 (-5.5%), from €263,962 to €249,564
- Taxes +€12,100
up €12,100 (+161%), from €7,500 to €19,600
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.
Derived cash bridge
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 | €249,943 | €298,238 | +€48,295 | +19.3% |
| Fixed assets | 21/28 | €47,141 | €94,139 | +€46,997 | +99.7% |
| Tangible fixed assets | 22/27 | €42,441 | €93,339 | +€50,897 | +120% |
| Plant, machinery and equipment | 23 | €1,614 | €581 | -€1,033 | -64.0% |
| Furniture and vehicles | 24 | €22,653 | €76,940 | +€54,288 | +240% |
| Other tangible fixed assets | 26 | €18,174 | €15,817 | -€2,357 | -13.0% |
| Financial fixed assets | 28 | €4,700 | €800 | -€3,900 | -83.0% |
| Current assets | 29/58 | €202,802 | €204,099 | +€1,297 | +0.6% |
| Amounts receivable after more than one year | 29 | €138,192 | €138,192 | = | 0.0% |
| Trade receivables | 290 | €138,192 | €138,192 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €29,693 | +€29,693 | |
| Other amounts receivable | 41 | - | €29,693 | +€29,693 | |
| Cash at bank and in hand | 54/58 | €24,500 | €3,902 | -€20,598 | -84.1% |
| Deferred charges and accrued income | 490/1 | €40,110 | €32,312 | -€7,798 | -19.4% |
| Total equity and liabilities | 10/49 | €249,943 | €298,238 | +€48,295 | +19.3% |
| Equity | 10/15 | €44,994 | €117,465 | +€72,471 | +161% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,534 | €97,005 | +€72,471 | +295% |
| Amounts payable | 17/49 | €204,949 | €180,773 | -€24,176 | -11.8% |
| Amounts payable within one year | 42/48 | €204,949 | €180,773 | -€24,176 | -11.8% |
| Trade debts | 44 | €100,162 | €66,097 | -€34,065 | -34.0% |
| Suppliers | 440/4 | €100,162 | €66,097 | -€34,065 | -34.0% |
| Taxes, remuneration and social security | 45 | €104,787 | €114,676 | +€9,889 | +9.4% |
| Taxes | 450/3 | €71,648 | €78,109 | +€6,460 | +9.0% |
| Remuneration and social security | 454/9 | €33,139 | €36,568 | +€3,429 | +10.3% |
| Turnover | 70 | €1,055,142 | €747,774 | -€307,368 | -29.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €756,543 | €380,733 | -€375,810 | -49.7% |
| Remuneration, social security and pensions | 62 | €263,962 | €249,564 | -€14,398 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,729 | €21,981 | -€748 | -3.3% |
| Other operating charges | 640/8 | €2,144 | €4,110 | +€1,965 | +91.6% |
| Gross operating margin | 9900 | €317,178 | €369,541 | +€52,363 | +16.5% |
| Operating profit (loss) | 9901 | €28,342 | €93,886 | +€65,544 | +231% |
| Financial income | 75/76B | €4,189 | - | -€4,189 | |
| Recurring financial income | 75 | €4,189 | - | -€4,189 | |
| Financial charges | 65/66B | €667 | €1,815 | +€1,149 | +172% |
| Recurring financial charges | 65 | €667 | €1,815 | +€1,149 | +172% |
| Profit (loss) for the period before taxes | 9903 | €31,865 | €92,071 | +€60,206 | +189% |
| Income taxes | 67/77 | €7,500 | €19,600 | +€12,100 | +161% |
| Profit (loss) for the period | 9904 | €24,365 | €72,471 | +€48,106 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €24,365 | €72,471 | +€48,106 | +197% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.