STIMAA: 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.
STIMAA
Largest movements
- Receivables within one year +€125,617
up €125,617 (+5.6%), from €2.2m to €2.3m
of which Trade receivables: +€243,537
- Tangible fixed assets +€96,026
up €96,026 (+79.9%), from €120,116 to €216,142
of which Leasing and similar rights: +€119,987
- Intangible fixed assets -€61,300
no longer reported in 2024 (was €61,300)
- Cash -€35,052
down €35,052 (-70.4%), from €49,778 to €14,726
mainly Investment in fixed assets (net) (-€192,855) and Receivables within one year (-€125,617)
- Debts after one year +€157,809
up €157,809 (+91.8%), from €171,821 to €329,629
- Short-term financial debts -€125,000
down €125,000 (-77.3%), from €161,667 to €36,667
- Trade debts +€80,837
up €80,837 (+9.9%), from €814,302 to €895,139
- Tax, wage and social debts -€48,848
down €48,848 (-28.4%), from €172,038 to €123,190
of which Taxes: -€88,576
- Profit (loss) carried forward +€46,562
up €46,562 (+4.3%), from €1.1m to €1.1m
- Write-downs +€82,186
up €82,186 (+226%), from €36,417 to €118,603
- Taxes -€32,966
down €32,966 (-54.6%), from €60,351 to €27,384
- Gross operating margin +€28,389
up €28,389 (+2.7%), from €1.1m to €1.1m
- Financial charges +€23,637
up €23,637 (+159%), from €14,866 to €38,503
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,082,855 | €3,203,062 | +€120,207 | +3.9% |
| Fixed assets | 21/28 | €773,971 | €813,697 | +€39,726 | +5.1% |
| Intangible fixed assets | 21 | €61,300 | - | -€61,300 | |
| Tangible fixed assets | 22/27 | €120,116 | €216,142 | +€96,026 | +79.9% |
| Land and buildings | 22 | €11,006 | €4,821 | -€6,185 | -56.2% |
| Plant, machinery and equipment | 23 | €391 | €174 | -€217 | -55.5% |
| Furniture and vehicles | 24 | €75,897 | €58,338 | -€17,559 | -23.1% |
| Leasing and similar rights | 25 | €32,822 | €152,809 | +€119,987 | +366% |
| Financial fixed assets | 28 | €592,555 | €597,555 | +€5,000 | +0.8% |
| Current assets | 29/58 | €2,308,884 | €2,389,365 | +€80,481 | +3.5% |
| Amounts receivable within one year | 40/41 | €2,223,322 | €2,348,940 | +€125,617 | +5.6% |
| Trade receivables | 40 | €1,597,696 | €1,841,233 | +€243,537 | +15.2% |
| Other amounts receivable | 41 | €625,627 | €507,707 | -€117,920 | -18.8% |
| Cash at bank and in hand | 54/58 | €49,778 | €14,726 | -€35,052 | -70.4% |
| Deferred charges and accrued income | 490/1 | €35,784 | €25,700 | -€10,084 | -28.2% |
| Total equity and liabilities | 10/49 | €3,082,855 | €3,203,062 | +€120,207 | +3.9% |
| Equity | 10/15 | €1,160,238 | €1,206,799 | +€46,562 | +4.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €7,510 | €7,510 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,310 | €1,310 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,090,728 | €1,137,289 | +€46,562 | +4.3% |
| Provisions and deferred taxes | 16 | €120,000 | €120,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €120,000 | €120,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €30,000 | €30,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €7,500 | €7,500 | = | 0.0% |
| Environmental obligations | 163 | €82,500 | €82,500 | = | 0.0% |
| Amounts payable | 17/49 | €1,802,618 | €1,876,263 | +€73,645 | +4.1% |
| Amounts payable after more than one year | 17 | €171,821 | €329,629 | +€157,809 | +91.8% |
| Financial debts | 170/4 | €171,821 | €329,629 | +€157,809 | +91.8% |
| Amounts payable within one year | 42/48 | €1,627,990 | €1,506,086 | -€121,904 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €147,771 | €121,601 | -€26,170 | -17.7% |
| Financial debts | 43 | €161,667 | €36,667 | -€125,000 | -77.3% |
| Credit institutions | 430/8 | €161,667 | €36,667 | -€125,000 | -77.3% |
| Trade debts | 44 | €814,302 | €895,139 | +€80,837 | +9.9% |
| Suppliers | 440/4 | €814,302 | €895,139 | +€80,837 | +9.9% |
| Advances received on contracts in progress | 46 | €71,329 | €71,329 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €172,038 | €123,190 | -€48,848 | -28.4% |
| Taxes | 450/3 | €162,367 | €73,791 | -€88,576 | -54.6% |
| Remuneration and social security | 454/9 | €9,670 | €49,398 | +€39,728 | +411% |
| Other amounts payable | 47/48 | €260,883 | €258,161 | -€2,723 | -1.0% |
| Accrued charges and deferred income | 492/3 | €2,807 | €40,547 | +€37,740 | +1,344% |
| Non-recurring operating income | 76A | €1,207 | €20,466 | +€19,259 | +1,596% |
| Remuneration, social security and pensions | 62 | €671,471 | €680,196 | +€8,725 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,546 | €153,129 | -€417 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36,417 | €118,603 | +€82,186 | +226% |
| Other operating charges | 640/8 | €12,382 | €21,962 | +€9,580 | +77.4% |
| Non-recurring operating charges | 66A | €11,530 | €847 | -€10,683 | -92.7% |
| Gross operating margin | 9900 | €1,055,505 | €1,083,894 | +€28,389 | +2.7% |
| Operating profit (loss) | 9901 | €170,159 | €109,157 | -€61,002 | -35.8% |
| Financial income | 75/76B | €6,360 | €3,292 | -€3,068 | -48.2% |
| Recurring financial income | 75 | €6,360 | €3,292 | -€3,068 | -48.2% |
| Financial charges | 65/66B | €14,866 | €38,503 | +€23,637 | +159% |
| Recurring financial charges | 65 | €14,866 | €38,503 | +€23,637 | +159% |
| Profit (loss) for the period before taxes | 9903 | €161,653 | €73,946 | -€87,707 | -54.3% |
| Income taxes | 67/77 | €60,351 | €27,384 | -€32,966 | -54.6% |
| Profit (loss) for the period | 9904 | €101,303 | €46,562 | -€54,741 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,303 | €46,562 | -€54,741 | -54.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.