Stimac: 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.
Stimac
Largest movements
- Cash -€73,144
down €73,144 (-50.2%), from €145,771 to €72,627
mainly Other debts (-€122,468) and Advances received (-€8,993)
- Other debts -€122,468
down €122,468 (-32.0%), from €382,802 to €260,334
- Profit (loss) carried forward +€28,467
up €28,467 (+54.7%), from €52,026 to €80,493
- Trade debts +€24,963
up €24,963 (+88.3%), from €28,286 to €53,248
- Advances received -€8,993
down €8,993 (-86.9%), from €10,353 to €1,360
- Staff costs -€39,791
down €39,791 (-19.1%), from €207,880 to €168,088
- Gross operating margin +€30,619
up €30,619 (+17.5%), from €175,251 to €205,870
- Write-downs +€25,860
up €25,860 (+90.9%), from -€28,449 to -€2,588
- Other operating charges +€14,933
up €14,933 (+343%), from €4,354 to €19,287
- Financial income +€3,779
up €3,779 (+33.9%), from €11,163 to €14,942
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 | €800,819 | €724,126 | -€76,693 | -9.6% |
| Fixed assets | 21/28 | €15,278 | €10,328 | -€4,950 | -32.4% |
| Tangible fixed assets | 22/27 | €9,887 | €4,937 | -€4,950 | -50.1% |
| Furniture and vehicles | 24 | €7,971 | €3,502 | -€4,469 | -56.1% |
| Other tangible fixed assets | 26 | €1,917 | €1,436 | -€481 | -25.1% |
| Financial fixed assets | 28 | €5,391 | €5,391 | = | 0.0% |
| Current assets | 29/58 | €785,540 | €713,798 | -€71,743 | -9.1% |
| Stocks and contracts in progress | 3 | €409,601 | €410,659 | +€1,058 | +0.3% |
| Stocks | 30/36 | €409,601 | €410,659 | +€1,058 | +0.3% |
| Amounts receivable within one year | 40/41 | €224,321 | €224,849 | +€528 | +0.2% |
| Trade receivables | 40 | €224,321 | €220,404 | -€3,918 | -1.7% |
| Other amounts receivable | 41 | - | €4,446 | +€4,446 | |
| Cash at bank and in hand | 54/58 | €145,771 | €72,627 | -€73,144 | -50.2% |
| Deferred charges and accrued income | 490/1 | €5,847 | €5,662 | -€185 | -3.2% |
| Total equity and liabilities | 10/49 | €800,819 | €724,126 | -€76,693 | -9.6% |
| Equity | 10/15 | €358,988 | €387,455 | +€28,467 | +7.9% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Capital | 10 | €275,000 | €275,000 | = | 0.0% |
| Issued capital | 100 | €275,000 | €275,000 | = | 0.0% |
| Reserves | 13 | €31,962 | €31,962 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,500 | €27,500 | = | 0.0% |
| Legal reserve | 130 | €27,500 | €27,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,462 | €4,462 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,026 | €80,493 | +€28,467 | +54.7% |
| Amounts payable | 17/49 | €441,830 | €336,670 | -€105,160 | -23.8% |
| Amounts payable within one year | 42/48 | €441,830 | €336,670 | -€105,160 | -23.8% |
| Trade debts | 44 | €28,286 | €53,248 | +€24,963 | +88.3% |
| Suppliers | 440/4 | €28,286 | €53,248 | +€24,963 | +88.3% |
| Advances received on contracts in progress | 46 | €10,353 | €1,360 | -€8,993 | -86.9% |
| Taxes, remuneration and social security | 45 | €20,390 | €21,728 | +€1,338 | +6.6% |
| Taxes | 450/3 | €3,683 | €7,106 | +€3,423 | +92.9% |
| Remuneration and social security | 454/9 | €16,707 | €14,622 | -€2,085 | -12.5% |
| Other amounts payable | 47/48 | €382,802 | €260,334 | -€122,468 | -32.0% |
| Remuneration, social security and pensions | 62 | €207,880 | €168,088 | -€39,791 | -19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,605 | €4,950 | +€346 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€28,449 | -€2,588 | +€25,860 | +90.9% |
| Other operating charges | 640/8 | €4,354 | €19,287 | +€14,933 | +343% |
| Gross operating margin | 9900 | €175,251 | €205,870 | +€30,619 | +17.5% |
| Operating profit (loss) | 9901 | -€13,139 | €16,133 | +€29,272 | |
| Financial income | 75/76B | €11,163 | €14,942 | +€3,779 | +33.9% |
| Recurring financial income | 75 | €11,163 | €14,942 | +€3,779 | +33.9% |
| Financial charges | 65/66B | €2,028 | €2,410 | +€382 | +18.8% |
| Recurring financial charges | 65 | €2,028 | €2,410 | +€382 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,003 | €28,665 | +€32,668 | |
| Income taxes | 67/77 | €232 | €198 | -€34 | -14.7% |
| Profit (loss) for the period | 9904 | -€4,236 | €28,467 | +€32,703 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,236 | €28,467 | +€32,703 |
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 14 October 2026 via checked.be.