STIMMO: what changed
Two fiscal 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.
STIMMO
Largest movements
- Financial fixed assets +€2.3m
up €2.3m (+405.5%), from €566,389 to €2.9m
- Receivables within one year -€1.6m
down €1.6m (-97.5%), from €1.7m to €41,209
of which Other amounts receivable: -€1.7m
- Tangible fixed assets +€714,829
up €714,829 (+96.8%), from €738,480 to €1.5m
of which Assets under construction and advance payments: +€718,980
- Cash -€256,384
down €256,384 (-91.0%), from €281,779 to €25,396
mainly Investment in fixed assets (net) (-€3.0m) and Debts after one year (-€77,335)
- Short-term financial debts +€1.0m
up €1.0m (+204.8%), from €500,000 to €1.5m
of which Other loans: +€717,000
- Trade debts +€192,084
up €192,084 (+592.9%), from €32,400 to €224,484
- Debts after one year -€77,335
down €77,335 (-20.4%), from €379,892 to €302,557
- Provisions +€75,421
new in 2025: €75,421
- Profit (loss) carried forward -€71,653
down €71,653 (-71.7%), from €99,969 to €28,316
- Gross operating margin -€1.8m
down €1.8m (-96.1%), from €1.9m to €72,931
- Taxes -€143,442
down €143,442 (-94.5%), from €151,764 to €8,322
- Financial charges -€131,900
down €131,900 (-77.2%), from €170,866 to €38,967
- Provisions +€75,421
new in 2025: €75,421
- Other operating charges -€20,772
down €20,772 (-75.5%), from €27,497 to €6,725
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 | €3,471,753 | €4,586,886 | +€1.1m | +32.1% |
| Fixed assets | 21/28 | €1,304,869 | €4,316,602 | +€3.0m | +230.8% |
| Tangible fixed assets | 22/27 | €738,480 | €1,453,309 | +€714,829 | +96.8% |
| Land and buildings | 22 | €216,450 | €216,450 | = | 0.0% |
| Furniture and vehicles | 24 | €474 | €12,091 | +€11,617 | +2449.0% |
| Other tangible fixed assets | 26 | €41,100 | €25,332 | -€15,768 | -38.4% |
| Assets under construction and advance payments | 27 | €480,455 | €1,199,436 | +€718,980 | +149.6% |
| Financial fixed assets | 28 | €566,389 | €2,863,293 | +€2.3m | +405.5% |
| Current assets | 29/58 | €2,166,884 | €270,284 | -€1.9m | -87.5% |
| Amounts receivable within one year | 40/41 | €1,679,091 | €41,209 | -€1.6m | -97.5% |
| Trade receivables | 40 | - | €15,331 | +€15,331 | |
| Other amounts receivable | 41 | €1,679,091 | €25,879 | -€1.7m | -98.5% |
| Current investments | 50/53 | €200,484 | €200,886 | +€402 | +0.2% |
| Cash at bank and in hand | 54/58 | €281,779 | €25,396 | -€256,384 | -91.0% |
| Deferred charges and accrued income | 490/1 | €5,530 | €2,793 | -€2,737 | -49.5% |
| Total equity and liabilities | 10/49 | €3,471,753 | €4,586,886 | +€1.1m | +32.1% |
| Equity | 10/15 | €2,156,577 | €2,084,923 | -€71,653 | -3.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,050,407 | €2,050,407 | = | 0.0% |
| Distributable reserves | 133 | €2,050,407 | €2,050,407 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,969 | €28,316 | -€71,653 | -71.7% |
| Provisions and deferred taxes | 16 | - | €75,421 | +€75,421 | |
| Provisions for liabilities and charges | 160/5 | - | €75,421 | +€75,421 | |
| Environmental obligations | 163 | - | €75,421 | +€75,421 | |
| Amounts payable | 17/49 | €1,315,176 | €2,426,542 | +€1.1m | +84.5% |
| Amounts payable after more than one year | 17 | €379,892 | €302,557 | -€77,335 | -20.4% |
| Financial debts | 170/4 | €379,892 | €302,557 | -€77,335 | -20.4% |
| Amounts payable within one year | 42/48 | €935,285 | €2,123,986 | +€1.2m | +127.1% |
| Current portion of amounts payable after more than one year | 42 | €83,210 | €77,335 | -€5,875 | -7.1% |
| Financial debts | 43 | €500,000 | €1,523,784 | +€1.0m | +204.8% |
| Credit institutions | 430/8 | €500,000 | €806,784 | +€306,784 | +61.4% |
| Other loans | 439 | - | €717,000 | +€717,000 | |
| Trade debts | 44 | €32,400 | €224,484 | +€192,084 | +592.9% |
| Suppliers | 440/4 | €32,400 | €224,484 | +€192,084 | +592.9% |
| Taxes, remuneration and social security | 45 | €134,712 | €131,764 | -€2,947 | -2.2% |
| Taxes | 450/3 | €131,764 | €131,764 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,947 | - | -€2,947 | |
| Other amounts payable | 47/48 | €184,963 | €166,619 | -€18,345 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,254 | €19,109 | +€2,854 | +17.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €75,421 | +€75,421 | |
| Other operating charges | 640/8 | €27,497 | €6,725 | -€20,772 | -75.5% |
| Gross operating margin | 9900 | €1,879,974 | €72,931 | -€1.8m | -96.1% |
| Operating profit (loss) | 9901 | €1,836,222 | -€28,323 | -€1.9m | |
| Financial income | 75/76B | €486 | €3,959 | +€3,473 | +715.1% |
| Recurring financial income | 75 | €486 | €3,959 | +€3,473 | +715.1% |
| Financial charges | 65/66B | €170,866 | €38,967 | -€131,900 | -77.2% |
| Recurring financial charges | 65 | €170,866 | €38,967 | -€131,900 | -77.2% |
| Profit (loss) for the period before taxes | 9903 | €1,665,842 | -€63,331 | -€1.7m | |
| Income taxes | 67/77 | €151,764 | €8,322 | -€143,442 | -94.5% |
| Profit (loss) for the period | 9904 | €1,514,077 | -€71,653 | -€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,514,077 | -€71,653 | -€1.6m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.