STM CONCEPT: 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.
STM CONCEPT
Largest movements
- Cash +€35,945
up €35,945 (+442.7%), from €8,120 to €44,065
mainly Other debts (+€43,795) and Net result for the year (+€18,031)
- Receivables within one year -€15,327
down €15,327 (-81.8%), from €18,727 to €3,400
of which Other amounts receivable: -€9,971
- Tangible fixed assets -€4,302
down €4,302 (-97.1%), from €4,432 to €131
- Deferred charges and accrued income +€1,506
up €1,506 (+35.9%), from €4,200 to €5,706
- Other debts +€43,795
up €43,795, from €0 to €43,795
- Profit (loss) carried forward -€25,764
no longer reported in 2025 (was €25,764)
- Tax, wage and social debts -€4,898
down €4,898 (-76.6%), from €6,398 to €1,500
of which Taxes: -€4,898
- Trade debts +€4,690
up €4,690 (+1479.4%), from €317 to €5,007
- Gross operating margin +€20,985
up €20,985 (+300.5%), from €6,984 to €27,969
- Taxes +€4,462
up €4,462 (+1430.1%), from €312 to €4,774
- Financial charges -€887
down €887 (-87.6%), from €1,013 to €126
- Staff costs -€297
no longer reported in 2025 (was €297)
- Financial income -€284
down €284 (-63.2%), from €449 to €165
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 | €35,479 | €53,301 | +€17,823 | +50.2% |
| Fixed assets | 21/28 | €4,432 | €131 | -€4,302 | -97.1% |
| Tangible fixed assets | 22/27 | €4,432 | €131 | -€4,302 | -97.1% |
| Furniture and vehicles | 24 | €4,432 | €131 | -€4,302 | -97.1% |
| Current assets | 29/58 | €31,047 | €53,171 | +€22,124 | +71.3% |
| Amounts receivable within one year | 40/41 | €18,727 | €3,400 | -€15,327 | -81.8% |
| Trade receivables | 40 | €5,356 | - | -€5,356 | |
| Other amounts receivable | 41 | €13,371 | €3,400 | -€9,971 | -74.6% |
| Cash at bank and in hand | 54/58 | €8,120 | €44,065 | +€35,945 | +442.7% |
| Deferred charges and accrued income | 490/1 | €4,200 | €5,706 | +€1,506 | +35.9% |
| Total equity and liabilities | 10/49 | €35,479 | €53,301 | +€17,823 | +50.2% |
| Equity | 10/15 | €28,764 | €3,000 | -€25,764 | -89.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,764 | - | -€25,764 | |
| Amounts payable | 17/49 | €6,715 | €50,301 | +€43,587 | +649.1% |
| Amounts payable within one year | 42/48 | €6,715 | €50,301 | +€43,587 | +649.1% |
| Trade debts | 44 | €317 | €5,007 | +€4,690 | +1479.4% |
| Suppliers | 440/4 | €317 | €5,007 | +€4,690 | +1479.4% |
| Taxes, remuneration and social security | 45 | €6,398 | €1,500 | -€4,898 | -76.6% |
| Taxes | 450/3 | €4,898 | - | -€4,898 | |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €43,795 | +€43,795 | |
| Remuneration, social security and pensions | 62 | €297 | - | -€297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,540 | €4,302 | -€238 | -5.3% |
| Other operating charges | 640/8 | €1,025 | €902 | -€123 | -12.0% |
| Gross operating margin | 9900 | €6,984 | €27,969 | +€20,985 | +300.5% |
| Operating profit (loss) | 9901 | €1,123 | €22,766 | +€21,643 | +1928.1% |
| Financial income | 75/76B | €449 | €165 | -€284 | -63.2% |
| Recurring financial income | 75 | €449 | €165 | -€284 | -63.2% |
| Financial charges | 65/66B | €1,013 | €126 | -€887 | -87.6% |
| Recurring financial charges | 65 | €1,013 | €126 | -€887 | -87.6% |
| Profit (loss) for the period before taxes | 9903 | €559 | €22,805 | +€22,247 | +3982.4% |
| Income taxes | 67/77 | €312 | €4,774 | +€4,462 | +1430.1% |
| Profit (loss) for the period | 9904 | €247 | €18,031 | +€17,785 | +7211.6% |
| Profit (loss) for the period to be appropriated | 9905 | €247 | €18,031 | +€17,785 | +7211.6% |
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.