Stiemerhei: 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.
Stiemerhei
Largest movements
- Tangible fixed assets +€112,382
up €112,382 (+43.6%), from €257,515 to €369,897
of which Land and buildings: +€111,992
- Receivables within one year -€73,813
down €73,813 (-34.6%), from €213,463 to €139,650
of which Other amounts receivable: -€78,987
- Reserves +€26,755
up €26,755 (+33.2%), from €80,559 to €107,315
of which Distributable reserves: +€29,003
- Trade debts +€6,271
new in 2025: €6,271
- Gross operating margin -€17,329
down €17,329 (-21.1%), from €82,251 to €64,922
- Other operating charges -€3,798
down €3,798 (-48.4%), from €7,848 to €4,050
- Depreciation +€3,744
up €3,744 (+27.3%), from €13,739 to €17,483
- Taxes -€3,385
down €3,385 (-17.2%), from €19,650 to €16,264
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 | €541,326 | €574,622 | +€33,296 | +6.2% |
| Fixed assets | 21/28 | €257,515 | €369,897 | +€112,382 | +43.6% |
| Tangible fixed assets | 22/27 | €257,515 | €369,897 | +€112,382 | +43.6% |
| Land and buildings | 22 | €252,931 | €364,923 | +€111,992 | +44.3% |
| Plant, machinery and equipment | 23 | - | €1,357 | +€1,357 | |
| Furniture and vehicles | 24 | €4,584 | €3,617 | -€967 | -21.1% |
| Current assets | 29/58 | €283,811 | €204,725 | -€79,086 | -27.9% |
| Amounts receivable within one year | 40/41 | €213,463 | €139,650 | -€73,813 | -34.6% |
| Trade receivables | 40 | - | €5,173 | +€5,173 | |
| Other amounts receivable | 41 | €213,463 | €134,477 | -€78,987 | -37.0% |
| Cash at bank and in hand | 54/58 | €65,793 | €60,660 | -€5,134 | -7.8% |
| Deferred charges and accrued income | 490/1 | €4,555 | €4,416 | -€139 | -3.1% |
| Total equity and liabilities | 10/49 | €541,326 | €574,622 | +€33,296 | +6.2% |
| Equity | 10/15 | €518,559 | €545,315 | +€26,755 | +5.2% |
| Contributions | 10/11 | €438,000 | €438,000 | = | 0.0% |
| Capital | 10 | €438,000 | €438,000 | = | 0.0% |
| Issued capital | 100 | €438,000 | €438,000 | = | 0.0% |
| Reserves | 13 | €80,559 | €107,315 | +€26,755 | +33.2% |
| Non-distributable reserves | 130/1 | €24,074 | €21,826 | -€2,248 | -9.3% |
| Legal reserve | 130 | €24,074 | €21,826 | -€2,248 | -9.3% |
| Distributable reserves | 133 | €56,486 | €85,489 | +€29,003 | +51.3% |
| Amounts payable | 17/49 | €22,767 | €29,308 | +€6,541 | +28.7% |
| Amounts payable within one year | 42/48 | €22,767 | €29,308 | +€6,541 | +28.7% |
| Trade debts | 44 | - | €6,271 | +€6,271 | |
| Suppliers | 440/4 | - | €6,271 | +€6,271 | |
| Taxes, remuneration and social security | 45 | €23 | €4,650 | +€4,627 | +20,231% |
| Taxes | 450/3 | €23 | €4,650 | +€4,627 | +20,231% |
| Other amounts payable | 47/48 | €22,744 | €18,388 | -€4,356 | -19.2% |
| Non-recurring operating income | 76A | €4,554 | - | -€4,554 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,739 | €17,483 | +€3,744 | +27.3% |
| Other operating charges | 640/8 | €7,848 | €4,050 | -€3,798 | -48.4% |
| Non-recurring operating charges | 66A | - | €322 | +€322 | |
| Gross operating margin | 9900 | €82,251 | €64,922 | -€17,329 | -21.1% |
| Operating profit (loss) | 9901 | €60,664 | €43,066 | -€17,598 | -29.0% |
| Financial charges | 65/66B | €150 | €47 | -€103 | -68.6% |
| Recurring financial charges | 65 | €150 | €47 | -€103 | -68.6% |
| Profit (loss) for the period before taxes | 9903 | €60,515 | €43,019 | -€17,495 | -28.9% |
| Income taxes | 67/77 | €19,650 | €16,264 | -€3,385 | -17.2% |
| Profit (loss) for the period | 9904 | €40,865 | €26,755 | -€14,110 | -34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,865 | €26,755 | -€14,110 | -34.5% |
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 19 October 2026 via checked.be.