STM Projects: 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.
STM Projects
Largest movements
- Tangible fixed assets +€530,950
up €530,950 (+12462.4%), from €4,260 to €535,210
of which Land and buildings: +€531,956
- Receivables within one year +€48,344
up €48,344 (+38.0%), from €127,089 to €175,433
of which Trade receivables: +€50,170
- Stocks and contracts -€13,177
down €13,177 (-100.0%), from €13,177 to €0
- Debts after one year +€326,688
up €326,688 (+9863.9%), from €3,312 to €330,000
- Other debts +€118,366
up €118,366 (+871.8%), from €13,577 to €131,944
- Trade debts +€66,398
up €66,398 (+202.5%), from €32,788 to €99,186
- Profit (loss) carried forward +€42,665
up €42,665 (+21.9%), from €194,445 to €237,109
- Tax, wage and social debts +€11,915
up €11,915 (+37.6%), from €31,653 to €43,569
- Depreciation +€21,548
up €21,548 (+895.8%), from €2,406 to €23,954
- Financial charges +€10,956
up €10,956 (+1652.1%), from €663 to €11,619
- Taxes -€5,229
down €5,229 (-22.7%), from €23,041 to €17,812
- Financial income +€5,100
up €5,100 (+711.7%), from €717 to €5,817
- Gross operating margin +€4,245
up €4,245 (+4.5%), from €94,285 to €98,529
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 | €283,806 | €842,058 | +€558,251 | +196.7% |
| Fixed assets | 21/28 | €122,230 | €651,480 | +€529,250 | +433.0% |
| Tangible fixed assets | 22/27 | €4,260 | €535,210 | +€530,950 | +12462.4% |
| Land and buildings | 22 | - | €531,956 | +€531,956 | |
| Plant, machinery and equipment | 23 | €2,408 | €1,385 | -€1,023 | -42.5% |
| Furniture and vehicles | 24 | €1,852 | €1,869 | +€16 | +0.9% |
| Financial fixed assets | 28 | €117,970 | €116,270 | -€1,700 | -1.4% |
| Current assets | 29/58 | €161,576 | €190,578 | +€29,002 | +17.9% |
| Stocks and contracts in progress | 3 | €13,177 | €0 | -€13,177 | -100.0% |
| Stocks | 30/36 | €13,177 | €0 | -€13,177 | -100.0% |
| Amounts receivable within one year | 40/41 | €127,089 | €175,433 | +€48,344 | +38.0% |
| Trade receivables | 40 | €119,291 | €169,461 | +€50,170 | +42.1% |
| Other amounts receivable | 41 | €7,798 | €5,972 | -€1,825 | -23.4% |
| Cash at bank and in hand | 54/58 | €20,783 | €13,576 | -€7,207 | -34.7% |
| Deferred charges and accrued income | 490/1 | €527 | €1,568 | +€1,041 | +197.4% |
| Total equity and liabilities | 10/49 | €283,806 | €842,058 | +€558,251 | +196.7% |
| Equity | 10/15 | €194,695 | €237,359 | +€42,665 | +21.9% |
| Contributions | 10/11 | €250 | €250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,445 | €237,109 | +€42,665 | +21.9% |
| Amounts payable | 17/49 | €89,111 | €604,698 | +€515,587 | +578.6% |
| Amounts payable after more than one year | 17 | €3,312 | €330,000 | +€326,688 | +9863.9% |
| Financial debts | 170/4 | €3,312 | €330,000 | +€326,688 | +9863.9% |
| Amounts payable within one year | 42/48 | €85,800 | €274,698 | +€188,899 | +220.2% |
| Current portion of amounts payable after more than one year | 42 | €7,781 | €0 | -€7,781 | -100.0% |
| Trade debts | 44 | €32,788 | €99,186 | +€66,398 | +202.5% |
| Suppliers | 440/4 | €32,788 | €99,186 | +€66,398 | +202.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €31,653 | €43,569 | +€11,915 | +37.6% |
| Taxes | 450/3 | €31,653 | €43,569 | +€11,915 | +37.6% |
| Other amounts payable | 47/48 | €13,577 | €131,944 | +€118,366 | +871.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,406 | €23,954 | +€21,548 | +895.8% |
| Other operating charges | 640/8 | €2,616 | €2,504 | -€112 | -4.3% |
| Non-recurring operating charges | 66A | €7,210 | €5,793 | -€1,417 | -19.7% |
| Gross operating margin | 9900 | €94,285 | €98,529 | +€4,245 | +4.5% |
| Operating profit (loss) | 9901 | €82,053 | €66,279 | -€15,774 | -19.2% |
| Financial income | 75/76B | €717 | €5,817 | +€5,100 | +711.7% |
| Recurring financial income | 75 | €717 | €5,817 | +€5,100 | +711.7% |
| Financial charges | 65/66B | €663 | €11,619 | +€10,956 | +1652.1% |
| Recurring financial charges | 65 | €663 | €11,619 | +€10,956 | +1652.1% |
| Profit (loss) for the period before taxes | 9903 | €82,107 | €60,477 | -€21,630 | -26.3% |
| Income taxes | 67/77 | €23,041 | €17,812 | -€5,229 | -22.7% |
| Profit (loss) for the period | 9904 | €59,065 | €42,665 | -€16,401 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,065 | €42,665 | -€16,401 | -27.8% |
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 5 October 2026 via checked.be.