STUMA: 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.
STUMA
Largest movements
- Current investments +€53,970
up €53,970 (+10.9%), from €495,000 to €548,970
- Receivables within one year +€25,127
up €25,127 (+94.2%), from €26,662 to €51,789
of which Trade receivables: +€25,127
- Tangible fixed assets -€23,841
down €23,841 (-41.9%), from €56,845 to €33,004
of which Furniture and vehicles: -€16,407
- Reserves +€59,911
up €59,911 (+9.4%), from €635,265 to €695,176
- Accrued charges and deferred income +€7,984
up €7,984 (+109.3%), from €7,305 to €15,288
- Gross operating margin +€112,735
up €112,735 (+106.4%), from €105,913 to €218,648
- Taxes +€33,468
up €33,468 (+122.6%), from €27,298 to €60,766
- Provisions +€12,500
no longer reported in 2025 (was -€12,500)
- Depreciation -€2,661
down €2,661 (-10.0%), from €26,502 to €23,841
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 | €671,744 | €740,204 | +€68,460 | +10.2% |
| Fixed assets | 21/28 | €56,845 | €33,004 | -€23,841 | -41.9% |
| Tangible fixed assets | 22/27 | €56,845 | €33,004 | -€23,841 | -41.9% |
| Plant, machinery and equipment | 23 | €1,740 | €1,369 | -€371 | -21.3% |
| Furniture and vehicles | 24 | €21,960 | €5,553 | -€16,407 | -74.7% |
| Other tangible fixed assets | 26 | €33,145 | €26,082 | -€7,063 | -21.3% |
| Current assets | 29/58 | €614,899 | €707,199 | +€92,301 | +15.0% |
| Amounts receivable within one year | 40/41 | €26,662 | €51,789 | +€25,127 | +94.2% |
| Trade receivables | 40 | €5,209 | €30,337 | +€25,127 | +482.4% |
| Other amounts receivable | 41 | €21,453 | €21,453 | = | 0.0% |
| Current investments | 50/53 | €495,000 | €548,970 | +€53,970 | +10.9% |
| Cash at bank and in hand | 54/58 | €90,117 | €96,196 | +€6,079 | +6.7% |
| Deferred charges and accrued income | 490/1 | €3,120 | €10,243 | +€7,124 | +228.4% |
| Total equity and liabilities | 10/49 | €671,744 | €740,204 | +€68,460 | +10.2% |
| Equity | 10/15 | €635,265 | €695,176 | +€59,911 | +9.4% |
| Reserves | 13 | €635,265 | €695,176 | +€59,911 | +9.4% |
| Distributable reserves | 133 | €635,265 | €695,176 | +€59,911 | +9.4% |
| Amounts payable | 17/49 | €36,480 | €45,028 | +€8,548 | +23.4% |
| Amounts payable within one year | 42/48 | €29,175 | €29,740 | +€565 | +1.9% |
| Trade debts | 44 | €5,762 | €4,865 | -€897 | -15.6% |
| Suppliers | 440/4 | €5,762 | €4,865 | -€897 | -15.6% |
| Taxes, remuneration and social security | 45 | €21,761 | €24,834 | +€3,073 | +14.1% |
| Taxes | 450/3 | €15,514 | €24,834 | +€9,320 | +60.1% |
| Remuneration and social security | 454/9 | €6,246 | - | -€6,246 | |
| Other amounts payable | 47/48 | €1,652 | €41 | -€1,611 | -97.5% |
| Accrued charges and deferred income | 492/3 | €7,305 | €15,288 | +€7,984 | +109.3% |
| Non-recurring operating income | 76A | €272 | - | -€272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,502 | €23,841 | -€2,661 | -10.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€12,500 | - | +€12,500 | |
| Other operating charges | 640/8 | €862 | €851 | -€12 | -1.4% |
| Non-recurring operating charges | 66A | €270 | - | -€270 | |
| Gross operating margin | 9900 | €105,913 | €218,648 | +€112,735 | +106.4% |
| Operating profit (loss) | 9901 | €90,778 | €193,957 | +€103,178 | +113.7% |
| Financial income | 75/76B | €2,002 | €3,813 | +€1,811 | +90.4% |
| Recurring financial income | 75 | €2,002 | €3,813 | +€1,811 | +90.4% |
| Financial charges | 65/66B | €65 | €133 | +€67 | +103.4% |
| Recurring financial charges | 65 | €65 | €133 | +€67 | +103.4% |
| Profit (loss) for the period before taxes | 9903 | €92,716 | €197,637 | +€104,922 | +113.2% |
| Income taxes | 67/77 | €27,298 | €60,766 | +€33,468 | +122.6% |
| Profit (loss) for the period | 9904 | €65,418 | €136,871 | +€71,453 | +109.2% |
| Profit (loss) for the period to be appropriated | 9905 | €65,418 | €136,871 | +€71,453 | +109.2% |
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.