STM CONSULTANCY: 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 CONSULTANCY
Largest movements
- Current investments +€47,157
up €47,157 (+16.8%), from €280,922 to €328,079
- Cash +€25,216
up €25,216 (+100.7%), from €25,030 to €50,246
mainly Net result for the year (+€72,696) and Depreciation (+€30,653)
- Receivables within one year -€22,160
down €22,160 (-26.6%), from €83,245 to €61,085
of which Trade receivables: -€14,057
- Tangible fixed assets +€10,694
up €10,694 (+4.3%), from €250,019 to €260,714
of which Furniture and vehicles: +€36,910
- Reserves +€72,696
up €72,696 (+15.7%), from €462,367 to €535,063
- Debts after one year -€18,141
down €18,141 (-12.1%), from €149,553 to €131,411
- Tax, wage and social debts +€10,515
up €10,515 (+64.8%), from €16,238 to €26,752
of which Taxes: +€10,515
- Gross operating margin -€10,912
down €10,912 (-8.1%), from €134,528 to €123,616
- Taxes -€2,317
down €2,317 (-10.3%), from €22,477 to €20,160
- Financial income +€2,124
up €2,124 (+43.5%), from €4,889 to €7,013
of which Non-recurring financial income: +€2,362
- Depreciation -€1,436
down €1,436 (-4.5%), from €32,088 to €30,653
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 | €678,741 | €743,071 | +€64,331 | +9.5% |
| Fixed assets | 21/28 | €250,019 | €260,714 | +€10,694 | +4.3% |
| Tangible fixed assets | 22/27 | €250,019 | €260,714 | +€10,694 | +4.3% |
| Land and buildings | 22 | €209,161 | €194,151 | -€15,011 | -7.2% |
| Plant, machinery and equipment | 23 | €39,460 | €28,255 | -€11,205 | -28.4% |
| Furniture and vehicles | 24 | €1,398 | €38,308 | +€36,910 | +2639.8% |
| Current assets | 29/58 | €428,721 | €482,358 | +€53,636 | +12.5% |
| Stocks and contracts in progress | 3 | €31,578 | €35,120 | +€3,542 | +11.2% |
| Contracts in progress | 37 | €31,578 | €35,120 | +€3,542 | +11.2% |
| Amounts receivable within one year | 40/41 | €83,245 | €61,085 | -€22,160 | -26.6% |
| Trade receivables | 40 | €39,529 | €25,473 | -€14,057 | -35.6% |
| Other amounts receivable | 41 | €43,716 | €35,612 | -€8,103 | -18.5% |
| Current investments | 50/53 | €280,922 | €328,079 | +€47,157 | +16.8% |
| Cash at bank and in hand | 54/58 | €25,030 | €50,246 | +€25,216 | +100.7% |
| Deferred charges and accrued income | 490/1 | €7,946 | €7,827 | -€119 | -1.5% |
| Total equity and liabilities | 10/49 | €678,741 | €743,071 | +€64,331 | +9.5% |
| Equity | 10/15 | €482,367 | €555,063 | +€72,696 | +15.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €462,367 | €535,063 | +€72,696 | +15.7% |
| Distributable reserves | 133 | €462,367 | €535,063 | +€72,696 | +15.7% |
| Amounts payable | 17/49 | €196,374 | €188,009 | -€8,365 | -4.3% |
| Amounts payable after more than one year | 17 | €149,553 | €131,411 | -€18,141 | -12.1% |
| Financial debts | 170/4 | €149,553 | €131,411 | -€18,141 | -12.1% |
| Amounts payable within one year | 42/48 | €46,821 | €56,598 | +€9,776 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €19,352 | €19,641 | +€288 | +1.5% |
| Trade debts | 44 | €5,951 | €4,751 | -€1,200 | -20.2% |
| Suppliers | 440/4 | €5,951 | €4,751 | -€1,200 | -20.2% |
| Taxes, remuneration and social security | 45 | €16,238 | €26,752 | +€10,515 | +64.8% |
| Taxes | 450/3 | €9,438 | €19,952 | +€10,515 | +111.4% |
| Remuneration and social security | 454/9 | €6,800 | €6,800 | = | 0.0% |
| Other amounts payable | 47/48 | €5,281 | €5,453 | +€173 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,088 | €30,653 | -€1,436 | -4.5% |
| Other operating charges | 640/8 | €2,330 | €2,657 | +€327 | +14.0% |
| Gross operating margin | 9900 | €134,528 | €123,616 | -€10,912 | -8.1% |
| Operating profit (loss) | 9901 | €100,110 | €90,306 | -€9,803 | -9.8% |
| Financial income | 75/76B | €4,889 | €7,013 | +€2,124 | +43.5% |
| Recurring financial income | 75 | €4,889 | €4,652 | -€237 | -4.9% |
| Non-recurring financial income | 76B | - | €2,362 | +€2,362 | |
| Financial charges | 65/66B | €4,834 | €4,464 | -€370 | -7.6% |
| Recurring financial charges | 65 | €4,834 | €4,464 | -€370 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €100,165 | €92,856 | -€7,309 | -7.3% |
| Income taxes | 67/77 | €22,477 | €20,160 | -€2,317 | -10.3% |
| Profit (loss) for the period | 9904 | €77,688 | €72,696 | -€4,992 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €77,688 | €72,696 | -€4,992 | -6.4% |
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 11 October 2026 via checked.be.