This paper aims to describe the flow structure modifications when the operating point moves from peak efficiency to near stall condition in a moderate pressure ratio centrifugal compressor stage consisted of a splittered unshrouded impeller and a vaned diffuser. The investigations are based on three-dimensional U-RANS simulation results. The flow is described in the impeller and in the vaned diffuser through time-averaged flow quantities and unsteady fluctuations. Results show that at low mass flow rate, the effects of secondary flow in the impeller are more pronounced, inducing both, high time-averaged values and temporal fluctuations of the flow angle near the shroud at the diffuser inlet, leading to vane suction side boundary layer separation. Pressure waves due to impeller diffuser interaction spread through the vaned diffuser generating unsteadiness which intensifies at near surge condition