STM GROUP: 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 GROUP
Largest movements
- Receivables within one year +€40,649
up €40,649 (+44.8%), from €90,646 to €131,295
of which Trade receivables: +€45,358
- Tangible fixed assets -€5,470
down €5,470 (-29.5%), from €18,555 to €13,085
of which Furniture and vehicles: -€5,236
- Cash +€2,678
up €2,678 (+170.2%), from €1,574 to €4,252
mainly Trade debts (+€20,406) and Net result for the year (+€16,629)
- Trade debts +€20,406
up €20,406 (+29.5%), from €69,259 to €89,665
- Profit (loss) carried forward +€16,629
up €16,629 (+87.3%), from €19,049 to €35,678
- Tax, wage and social debts +€4,241
up €4,241 (+119.7%), from €3,542 to €7,783
of which Taxes: +€3,241
- Debts after one year -€3,757
down €3,757 (-54.5%), from €6,894 to €3,137
- Gross operating margin +€10,117
up €10,117 (+52.5%), from €19,278 to €29,395
- Taxes +€3,522
up €3,522 (+316.3%), from €1,114 to €4,636
- Depreciation -€1,128
down €1,128 (-14.4%), from €7,864 to €6,735
- Financial charges -€1,064
down €1,064 (-70.6%), from €1,508 to €444
- Other operating charges -€995
down €995 (-51.1%), from €1,947 to €951
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 | €112,547 | €150,175 | +€37,628 | +33.4% |
| Fixed assets | 21/28 | €18,870 | €13,400 | -€5,470 | -29.0% |
| Tangible fixed assets | 22/27 | €18,555 | €13,085 | -€5,470 | -29.5% |
| Plant, machinery and equipment | 23 | €234 | - | -€234 | |
| Furniture and vehicles | 24 | €18,321 | €13,085 | -€5,236 | -28.6% |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €93,677 | €136,775 | +€43,098 | +46.0% |
| Amounts receivable within one year | 40/41 | €90,646 | €131,295 | +€40,649 | +44.8% |
| Trade receivables | 40 | €85,164 | €130,522 | +€45,358 | +53.3% |
| Other amounts receivable | 41 | €5,482 | €773 | -€4,709 | -85.9% |
| Cash at bank and in hand | 54/58 | €1,574 | €4,252 | +€2,678 | +170.2% |
| Deferred charges and accrued income | 490/1 | €1,457 | €1,228 | -€229 | -15.7% |
| Total equity and liabilities | 10/49 | €112,547 | €150,175 | +€37,628 | +33.4% |
| Equity | 10/15 | €25,708 | €42,337 | +€16,629 | +64.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €459 | €459 | = | 0.0% |
| Non-distributable reserves | 130/1 | €459 | €459 | = | 0.0% |
| Reserves not available under the articles | 1311 | €459 | €459 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,049 | €35,678 | +€16,629 | +87.3% |
| Amounts payable | 17/49 | €86,839 | €107,838 | +€20,999 | +24.2% |
| Amounts payable after more than one year | 17 | €6,894 | €3,137 | -€3,757 | -54.5% |
| Financial debts | 170/4 | €6,894 | €3,137 | -€3,757 | -54.5% |
| Amounts payable within one year | 42/48 | €79,945 | €104,701 | +€24,756 | +31.0% |
| Current portion of amounts payable after more than one year | 42 | €3,648 | €3,757 | +€109 | +3.0% |
| Trade debts | 44 | €69,259 | €89,665 | +€20,406 | +29.5% |
| Suppliers | 440/4 | €69,259 | €89,665 | +€20,406 | +29.5% |
| Taxes, remuneration and social security | 45 | €3,542 | €7,783 | +€4,241 | +119.7% |
| Taxes | 450/3 | €2,950 | €6,191 | +€3,241 | +109.9% |
| Remuneration and social security | 454/9 | €592 | €1,592 | +€1,000 | +168.9% |
| Other amounts payable | 47/48 | €3,496 | €3,496 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,864 | €6,735 | -€1,128 | -14.4% |
| Other operating charges | 640/8 | €1,947 | €951 | -€995 | -51.1% |
| Gross operating margin | 9900 | €19,278 | €29,395 | +€10,117 | +52.5% |
| Operating profit (loss) | 9901 | €9,468 | €21,709 | +€12,241 | +129.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,508 | €444 | -€1,064 | -70.6% |
| Recurring financial charges | 65 | €1,508 | €444 | -€1,064 | -70.6% |
| Profit (loss) for the period before taxes | 9903 | €7,959 | €21,265 | +€13,305 | +167.2% |
| Income taxes | 67/77 | €1,114 | €4,636 | +€3,522 | +316.3% |
| Profit (loss) for the period | 9904 | €6,846 | €16,629 | +€9,783 | +142.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,846 | €16,629 | +€9,783 | +142.9% |
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 9 October 2026 via checked.be.