3STATE: 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.
3STATE
Largest movements
- Tangible fixed assets +€118,314
up €118,314 (+56.6%), from €209,152 to €327,466
of which Land and buildings: +€122,015
- Cash +€63,328
up €63,328 (+379%), from €16,712 to €80,040
mainly Debts after one year (+€80,830) and Receivables within one year (+€52,634)
- Receivables within one year -€52,634
down €52,634 (-55.5%), from €94,790 to €42,156
of which Trade receivables: -€36,812
- Deferred charges and accrued income -€36,750
down €36,750 (-100%), from €36,750 to €0
- Debts after one year +€80,830
up €80,830 (+43.6%), from €185,541 to €266,371
- Tax, wage and social debts +€12,620
up €12,620 (+220%), from €5,726 to €18,347
- Trade debts +€11,860
up €11,860 (+169%), from €7,027 to €18,887
- Profit (loss) carried forward -€8,785
new in 2025: -€8,785
- Gross operating margin -€40,712
down €40,712 (-82.8%), from €49,144 to €8,432
- Taxes -€10,257
down €10,257 (-98.0%), from €10,467 to €210
- Financial charges +€7,440
up €7,440 (+432%), from €1,724 to €9,163
- Other operating charges +€4,565
up €4,565 (+460%), from €992 to €5,557
- Depreciation +€3,025
up €3,025 (+149%), from €2,031 to €5,056
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.
Derived cash bridge
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 | €409,154 | €504,116 | +€94,962 | +23.2% |
| Fixed assets | 21/28 | €210,902 | €331,920 | +€121,019 | +57.4% |
| Intangible fixed assets | 21 | €1,749 | €4,454 | +€2,705 | +155% |
| Tangible fixed assets | 22/27 | €209,152 | €327,466 | +€118,314 | +56.6% |
| Land and buildings | 22 | €205,451 | €327,466 | +€122,015 | +59.4% |
| Plant, machinery and equipment | 23 | €394 | €0 | -€394 | -100% |
| Furniture and vehicles | 24 | €3,308 | €0 | -€3,308 | -100% |
| Current assets | 29/58 | €198,252 | €172,196 | -€26,056 | -13.1% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €94,790 | €42,156 | -€52,634 | -55.5% |
| Trade receivables | 40 | €36,812 | €0 | -€36,812 | -100% |
| Other amounts receivable | 41 | €57,979 | €42,156 | -€15,823 | -27.3% |
| Cash at bank and in hand | 54/58 | €16,712 | €80,040 | +€63,328 | +379% |
| Deferred charges and accrued income | 490/1 | €36,750 | €0 | -€36,750 | -100% |
| Total equity and liabilities | 10/49 | €409,154 | €504,116 | +€94,962 | +23.2% |
| Equity | 10/15 | €198,513 | €189,727 | -€8,785 | -4.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €196,013 | €196,013 | = | 0.0% |
| Distributable reserves | 133 | €196,013 | €196,013 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€8,785 | -€8,785 | |
| Amounts payable | 17/49 | €210,641 | €314,389 | +€103,748 | +49.3% |
| Amounts payable after more than one year | 17 | €185,541 | €266,371 | +€80,830 | +43.6% |
| Financial debts | 170/4 | €185,541 | €266,371 | +€80,830 | +43.6% |
| Amounts payable within one year | 42/48 | €24,713 | €48,018 | +€23,305 | +94.3% |
| Current portion of amounts payable after more than one year | 42 | €10,459 | €10,784 | +€325 | +3.1% |
| Trade debts | 44 | €7,027 | €18,887 | +€11,860 | +169% |
| Suppliers | 440/4 | €7,027 | €18,887 | +€11,860 | +169% |
| Taxes, remuneration and social security | 45 | €5,726 | €18,347 | +€12,620 | +220% |
| Taxes | 450/3 | €5,726 | €18,347 | +€12,620 | +220% |
| Other amounts payable | 47/48 | €1,500 | €0 | -€1,500 | -100% |
| Accrued charges and deferred income | 492/3 | €388 | €0 | -€388 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,031 | €5,056 | +€3,025 | +149% |
| Other operating charges | 640/8 | €992 | €5,557 | +€4,565 | +460% |
| Gross operating margin | 9900 | €49,144 | €8,432 | -€40,712 | -82.8% |
| Operating profit (loss) | 9901 | €46,121 | -€2,180 | -€48,302 | |
| Financial income | 75/76B | €3,512 | €2,769 | -€743 | -21.2% |
| Recurring financial income | 75 | €3,512 | €2,769 | -€743 | -21.2% |
| Financial charges | 65/66B | €1,724 | €9,163 | +€7,440 | +432% |
| Recurring financial charges | 65 | €1,724 | €9,163 | +€7,440 | +432% |
| Profit (loss) for the period before taxes | 9903 | €47,909 | -€8,575 | -€56,484 | |
| Income taxes | 67/77 | €10,467 | €210 | -€10,257 | -98.0% |
| Profit (loss) for the period | 9904 | €37,442 | -€8,785 | -€46,227 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,442 | -€8,785 | -€46,227 |
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 15 October 2026 via checked.be.