STMED: 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.
STMED
Largest movements
- Tangible fixed assets -€11,139
down €11,139 (-16.9%), from €65,940 to €54,801
of which Furniture and vehicles: -€6,299
- Receivables within one year -€6,627
down €6,627 (-36.8%), from €18,006 to €11,380
of which Trade receivables: -€7,142
- Cash +€1,792
up €1,792 (+5.9%), from €30,554 to €32,346
mainly Net result for the year (+€42,994) and Depreciation (+€11,139)
- Other debts -€12,041
down €12,041 (-21.3%), from €56,523 to €44,482
- Debts after one year -€8,685
down €8,685 (-24.4%), from €35,548 to €26,862
- Trade debts +€5,596
up €5,596 (+832.2%), from €672 to €6,268
- Gross operating margin -€11,694
down €11,694 (-14.1%), from €82,899 to €71,205
- Taxes -€2,517
down €2,517 (-14.6%), from €17,233 to €14,716
- Depreciation -€1,768
down €1,768 (-13.7%), from €12,907 to €11,139
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 | €116,765 | €101,721 | -€15,044 | -12.9% |
| Fixed assets | 21/28 | €65,940 | €55,801 | -€10,139 | -15.4% |
| Tangible fixed assets | 22/27 | €65,940 | €54,801 | -€11,139 | -16.9% |
| Land and buildings | 22 | €56,582 | €51,742 | -€4,840 | -8.6% |
| Furniture and vehicles | 24 | €9,357 | €3,058 | -€6,299 | -67.3% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €50,825 | €45,920 | -€4,905 | -9.7% |
| Amounts receivable within one year | 40/41 | €18,006 | €11,380 | -€6,627 | -36.8% |
| Trade receivables | 40 | €15,238 | €8,096 | -€7,142 | -46.9% |
| Other amounts receivable | 41 | €2,769 | €3,284 | +€515 | +18.6% |
| Cash at bank and in hand | 54/58 | €30,554 | €32,346 | +€1,792 | +5.9% |
| Deferred charges and accrued income | 490/1 | €2,266 | €2,195 | -€71 | -3.1% |
| Total equity and liabilities | 10/49 | €116,765 | €101,721 | -€15,044 | -12.9% |
| Equity | 10/15 | €15,429 | €15,423 | -€6 | 0.0% |
| Contributions | 10/11 | €12,773 | €12,773 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €796 | €790 | -€6 | -0.8% |
| Amounts payable | 17/49 | €101,336 | €86,298 | -€15,038 | -14.8% |
| Amounts payable after more than one year | 17 | €35,548 | €26,862 | -€8,685 | -24.4% |
| Financial debts | 170/4 | €35,548 | €26,862 | -€8,685 | -24.4% |
| Amounts payable within one year | 42/48 | €65,750 | €59,435 | -€6,314 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €8,555 | €8,685 | +€131 | +1.5% |
| Trade debts | 44 | €672 | €6,268 | +€5,596 | +832.2% |
| Suppliers | 440/4 | €672 | €6,268 | +€5,596 | +832.2% |
| Other amounts payable | 47/48 | €56,523 | €44,482 | -€12,041 | -21.3% |
| Accrued charges and deferred income | 492/3 | €38 | - | -€38 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,907 | €11,139 | -€1,768 | -13.7% |
| Other operating charges | 640/8 | €1,512 | €1,561 | +€48 | +3.2% |
| Gross operating margin | 9900 | €82,899 | €71,205 | -€11,694 | -14.1% |
| Operating profit (loss) | 9901 | €68,480 | €58,505 | -€9,975 | -14.6% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €1,011 | €801 | -€210 | -20.7% |
| Recurring financial charges | 65 | €1,011 | €801 | -€210 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €67,469 | €57,710 | -€9,759 | -14.5% |
| Income taxes | 67/77 | €17,233 | €14,716 | -€2,517 | -14.6% |
| Profit (loss) for the period | 9904 | €50,236 | €42,994 | -€7,242 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €50,236 | €42,994 | -€7,242 | -14.4% |
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 3 October 2026 via checked.be.