Bitstamp Holdings: what changed
What changed
Bitstamp Holdings
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€102.8m
2024 · €694.5m-€797.3m
Equity
€343.0m
2024 · €445.8m-€102.8m
Cash
€131.5m
2024 · €437.8m-€306.2m
Balance sheet total
€343.8m
2024 · €1.20bn-€861.2m
Largest movements
Assets
- Current investments -€447.1m
down €447.1m (-78.0%), from €573.1m to €126.0m
- Cash -€306.2m
down €306.2m (-69.9%), from €437.8m to €131.5m
mainly Other debts (-€753.4m) and Net result for the year (-€102.8m)
- Financial fixed assets -€124.8m
down €124.8m (-65.9%), from €189.5m to €64.7m
- Receivables within one year +€13.2m
up €13.2m (+289%), from €4.6m to €17.7m
of which Other amounts receivable: +€13.4m
Equity and liabilities
- Other debts -€753.4m
down €753.4m (-100.0%), from €753.6m to €124,602
- Profit (loss) carried forward -€69.1m
down €69.1m, from €0 to -€69.1m
- Reserves -€33.7m
no longer reported in 2025 (was €33.7m)
Income statement
- Financial charges +€89.9m
up €89.9m (+885%), from €10.2m to €100.1m
- Financial income +€21.9m
new in 2025: €21.9m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€694.5m
Depreciation
-€261
Other operating charges
-€661,365
Other operating items
-€10.2m
Financial income
+€21.9m
Financial charges
-€89.9m
Other financial items
-€716.4m
Taxes
-€2.1m
Result 2025
-€102.8m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€878.0m
Investment
+€571.8m
Financing
€0
Cash 2024
€437.8m
From operations (derived)
-€878.0m
Net result for the year
-€102.8m
Depreciation
+€7,564
Smaller working-capital items
-€2.2m
Receivables within one year
-€13.2m
Deferred charges and accrued income
-€3.1m
Trade debts
-€3.3m
Other debts
-€753.4m
Investment (derived)
+€571.8m
Investment in fixed assets (net)
+€124.8m
Current investments
+€447.1m
Cash 2025
€131.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,204,985,246 | €343,768,457 | -€861.2m | -71.5% |
| Formation expenses | 20 | €13,042 | €7,218 | -€5,824 | -44.7% |
| Fixed assets | 21/28 | €189,458,238 | €64,680,851 | -€124.8m | -65.9% |
| Financial fixed assets | 28 | €189,458,238 | €64,680,851 | -€124.8m | -65.9% |
| Affiliated companies | 280/1 | €189,458,238 | €64,680,851 | -€124.8m | -65.9% |
| Participating interests | 280 | €189,458,238 | - | -€189.5m | |
| Amounts receivable | 281 | - | €64,680,851 | +€64.7m | |
| Current assets | 29/58 | €1,015,513,966 | €279,080,388 | -€736.4m | -72.5% |
| Amounts receivable after more than one year | 29 | - | €570,852 | +€570,852 | |
| Other amounts receivable | 291 | - | €570,852 | +€570,852 | |
| Amounts receivable within one year | 40/41 | €4,560,338 | €17,744,490 | +€13.2m | +289% |
| Trade receivables | 40 | €175,000 | - | -€175,000 | |
| Other amounts receivable | 41 | €4,385,338 | €17,744,490 | +€13.4m | +305% |
| Current investments | 50/53 | €573,112,881 | €126,049,493 | -€447.1m | -78.0% |
| Other investments | 51/53 | €573,112,881 | €126,049,493 | -€447.1m | -78.0% |
| Cash at bank and in hand | 54/58 | €437,751,726 | €131,547,636 | -€306.2m | -69.9% |
| Deferred charges and accrued income | 490/1 | €89,021 | €3,167,917 | +€3.1m | +3,459% |
| Total equity and liabilities | 10/49 | €1,204,985,246 | €343,768,457 | -€861.2m | -71.5% |
| Equity | 10/15 | €445,836,868 | €342,990,566 | -€102.8m | -23.1% |
| Contributions | 10/11 | €412,123,059 | €412,123,059 | = | 0.0% |
| Capital | 10 | €412,123,059 | €412,123,059 | = | 0.0% |
| Issued capital | 100 | €412,123,059 | €412,123,059 | = | 0.0% |
| Reserves | 13 | €33,713,809 | - | -€33.7m | |
| Non-distributable reserves | 130/1 | €33,713,809 | - | -€33.7m | |
| Legal reserve | 130 | €33,713,809 | - | -€33.7m | |
| Profit (loss) carried forward | 14 | €0 | -€69,132,493 | -€69.1m | |
| Amounts payable | 17/49 | €759,148,378 | €777,891 | -€758.4m | -99.9% |
| Amounts payable within one year | 42/48 | €757,886,683 | €777,891 | -€757.1m | -99.9% |
| Trade debts | 44 | €3,362,787 | €18,884 | -€3.3m | -99.4% |
| Suppliers | 440/4 | €3,362,787 | €18,884 | -€3.3m | -99.4% |
| Advances received on contracts in progress | 46 | €962,001 | - | -€962,001 | |
| Taxes, remuneration and social security | 45 | - | €634,405 | +€634,405 | |
| Taxes | 450/3 | - | €634,405 | +€634,405 | |
| Other amounts payable | 47/48 | €753,561,895 | €124,602 | -€753.4m | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,261,695 | - | -€1.3m | |
| Operating income | 70/76A | €1,027,474 | €145,750 | -€881,724 | -85.8% |
| Other operating income | 74 | €350,000 | €145,750 | -€204,250 | -58.4% |
| Non-recurring operating income | 76A | €677,474 | - | -€677,474 | |
| Operating charges | 60/66A | €12,637,195 | €22,607,981 | +€10.0m | +78.9% |
| Services and other goods | 61 | €12,627,914 | €5,299,628 | -€7.3m | -58.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,303 | €7,564 | +€261 | +3.6% |
| Other operating charges | 640/8 | €1,978 | €663,343 | +€661,365 | +33,436% |
| Non-recurring operating charges | 66A | - | €16,637,446 | +€16.6m | |
| Operating profit (loss) | 9901 | -€11,609,721 | -€22,462,231 | -€10.9m | -93.5% |
| Financial income | 75/76B | - | €21,934,215 | +€21.9m | |
| Recurring financial income | 75 | €716,380,341 | €21,934,215 | -€694.4m | -96.9% |
| Income from financial fixed assets | 750 | - | €570,852 | +€570,852 | |
| Income from current assets | 751 | €1,385,938 | €18,377,132 | +€17.0m | +1,226% |
| Other financial income | 752/9 | €714,994,403 | €2,986,231 | -€712.0m | -99.6% |
| Financial charges | 65/66B | €10,157,996 | €100,081,548 | +€89.9m | +885% |
| Recurring financial charges | 65 | €10,157,996 | €100,081,548 | +€89.9m | +885% |
| Debt charges | 650 | €5,414,454 | €1,569,897 | -€3.8m | -71.0% |
| Other financial charges | 652/9 | €4,743,542 | €98,511,651 | +€93.8m | +1,977% |
| Profit (loss) for the period before taxes | 9903 | €694,612,624 | -€100,609,564 | -€795.2m | |
| Income taxes | 67/77 | €130,171 | €2,236,738 | +€2.1m | +1,618% |
| Taxes | 670/3 | €130,171 | €2,236,738 | +€2.1m | +1,618% |
| Profit (loss) for the period | 9904 | €694,482,453 | -€102,846,302 | -€797.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €694,482,453 | -€102,846,302 | -€797.3m |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.