STIM: 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.
STIM
Largest movements
- Cash +€150,533
up €150,533 (+50.0%), from €301,015 to €451,547
mainly Net result for the year (+€303,429) and Depreciation (+€135,316)
- Tangible fixed assets -€39,636
down €39,636 (-7.3%), from €546,007 to €506,371
of which Plant, machinery and equipment: -€73,715
- Receivables within one year -€32,893
down €32,893 (-10.9%), from €300,939 to €268,046
of which Trade receivables: -€39,687
- Reserves +€103,429
up €103,429 (+24.4%), from €423,395 to €526,825
- Other debts +€61,266
up €61,266 (+21.4%), from €286,664 to €347,930
- Trade debts -€37,872
down €37,872 (-11.2%), from €339,027 to €301,155
- Debts after one year -€35,075
down €35,075 (-29.9%), from €117,116 to €82,042
- Tax, wage and social debts -€21,894
down €21,894 (-16.9%), from €129,429 to €107,535
- Gross operating margin -€54,186
down €54,186 (-4.4%), from €1.2m to €1.2m
- Taxes -€13,322
down €13,322 (-24.8%), from €53,737 to €40,414
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 | €1,635,315 | €1,704,936 | +€69,621 | +4.3% |
| Fixed assets | 21/28 | €546,196 | €506,560 | -€39,636 | -7.3% |
| Tangible fixed assets | 22/27 | €546,007 | €506,371 | -€39,636 | -7.3% |
| Land and buildings | 22 | - | €44,600 | +€44,600 | |
| Plant, machinery and equipment | 23 | €333,349 | €259,634 | -€73,715 | -22.1% |
| Furniture and vehicles | 24 | €25,512 | €44,616 | +€19,103 | +74.9% |
| Other tangible fixed assets | 26 | €187,146 | €157,522 | -€29,624 | -15.8% |
| Financial fixed assets | 28 | €189 | €189 | = | 0.0% |
| Current assets | 29/58 | €1,089,119 | €1,198,376 | +€109,257 | +10.0% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €326,821 | €318,718 | -€8,103 | -2.5% |
| Stocks | 30/36 | €326,821 | €318,718 | -€8,103 | -2.5% |
| Amounts receivable within one year | 40/41 | €300,939 | €268,046 | -€32,893 | -10.9% |
| Trade receivables | 40 | €216,730 | €177,043 | -€39,687 | -18.3% |
| Other amounts receivable | 41 | €84,209 | €91,003 | +€6,794 | +8.1% |
| Current investments | 50/53 | €1,548 | €0 | -€1,548 | -100.0% |
| Cash at bank and in hand | 54/58 | €301,015 | €451,547 | +€150,533 | +50.0% |
| Deferred charges and accrued income | 490/1 | €8,797 | €10,065 | +€1,269 | +14.4% |
| Total equity and liabilities | 10/49 | €1,635,315 | €1,704,936 | +€69,621 | +4.3% |
| Equity | 10/15 | €673,395 | €776,825 | +€103,429 | +15.4% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €423,395 | €526,825 | +€103,429 | +24.4% |
| Distributable reserves | 133 | €423,395 | €526,825 | +€103,429 | +24.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €961,920 | €928,111 | -€33,809 | -3.5% |
| Amounts payable after more than one year | 17 | €117,116 | €82,042 | -€35,075 | -29.9% |
| Financial debts | 170/4 | €117,116 | €82,042 | -€35,075 | -29.9% |
| Amounts payable within one year | 42/48 | €844,567 | €845,836 | +€1,269 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €89,447 | €89,217 | -€230 | -0.3% |
| Trade debts | 44 | €339,027 | €301,155 | -€37,872 | -11.2% |
| Suppliers | 440/4 | €339,027 | €301,155 | -€37,872 | -11.2% |
| Taxes, remuneration and social security | 45 | €129,429 | €107,535 | -€21,894 | -16.9% |
| Remuneration and social security | 454/9 | €129,429 | €107,535 | -€21,894 | -16.9% |
| Other amounts payable | 47/48 | €286,664 | €347,930 | +€61,266 | +21.4% |
| Accrued charges and deferred income | 492/3 | €236 | €233 | -€3 | -1.3% |
| Remuneration, social security and pensions | 62 | €658,672 | €666,225 | +€7,553 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,532 | €135,316 | -€5,215 | -3.7% |
| Other operating charges | 640/8 | €11,776 | €10,326 | -€1,451 | -12.3% |
| Gross operating margin | 9900 | €1,232,894 | €1,178,708 | -€54,186 | -4.4% |
| Operating profit (loss) | 9901 | €421,915 | €366,841 | -€55,074 | -13.1% |
| Financial income | 75/76B | €3,223 | €3,720 | +€497 | +15.4% |
| Recurring financial income | 75 | €3,223 | €3,720 | +€497 | +15.4% |
| Financial charges | 65/66B | €26,872 | €26,718 | -€154 | -0.6% |
| Recurring financial charges | 65 | €26,872 | €26,718 | -€154 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €398,266 | €343,844 | -€54,422 | -13.7% |
| Income taxes | 67/77 | €53,737 | €40,414 | -€13,322 | -24.8% |
| Profit (loss) for the period | 9904 | €344,529 | €303,429 | -€41,100 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €344,529 | €303,429 | -€41,100 | -11.9% |
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 10 October 2026 via checked.be.