CENTERSTONE: 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.
CENTERSTONE
Largest movements
- Stocks and contracts -€222,382
down €222,382 (-68.5%), from €324,622 to €102,240
- Receivables within one year +€106,515
up €106,515 (+161.7%), from €65,871 to €172,386
of which Trade receivables: +€106,710
- Cash +€47,461
up €47,461 (+57.1%), from €83,109 to €130,570
mainly Stocks and contracts (+€222,382) and Trade debts (+€203,765)
- Current investments -€24,224
down €24,224 (-61.2%), from €39,595 to €15,371
- Profit (loss) carried forward -€295,996
down €295,996 (-36.4%), from -€813,121 to -€1.1m
- Trade debts +€203,765
up €203,765 (+141.2%), from €144,301 to €348,066
- Gross operating margin -€146,587
down €146,587 (-106.6%), from -€137,448 to -€284,036
- Financial income -€3,009
down €3,009 (-88.9%), from €3,385 to €376
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 | €526,791 | €436,433 | -€90,358 | -17.2% |
| Fixed assets | 21/28 | €13,185 | €12,419 | -€766 | -5.8% |
| Tangible fixed assets | 22/27 | €2,350 | €1,584 | -€766 | -32.6% |
| Plant, machinery and equipment | 23 | €2,350 | €1,584 | -€766 | -32.6% |
| Financial fixed assets | 28 | €10,835 | €10,835 | = | 0.0% |
| Current assets | 29/58 | €513,606 | €424,014 | -€89,592 | -17.4% |
| Stocks and contracts in progress | 3 | €324,622 | €102,240 | -€222,382 | -68.5% |
| Stocks | 30/36 | €324,622 | €102,240 | -€222,382 | -68.5% |
| Amounts receivable within one year | 40/41 | €65,871 | €172,386 | +€106,515 | +161.7% |
| Trade receivables | 40 | €63,064 | €169,774 | +€106,710 | +169.2% |
| Other amounts receivable | 41 | €2,807 | €2,612 | -€194 | -6.9% |
| Current investments | 50/53 | €39,595 | €15,371 | -€24,224 | -61.2% |
| Cash at bank and in hand | 54/58 | €83,109 | €130,570 | +€47,461 | +57.1% |
| Deferred charges and accrued income | 490/1 | €408 | €3,446 | +€3,038 | +744.0% |
| Total equity and liabilities | 10/49 | €526,791 | €436,433 | -€90,358 | -17.2% |
| Equity | 10/15 | €380,858 | €84,862 | -€295,996 | -77.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,175,379 | €1,175,379 | = | 0.0% |
| Distributable reserves | 133 | €1,175,379 | €1,175,379 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€813,121 | -€1,109,117 | -€295,996 | -36.4% |
| Amounts payable | 17/49 | €145,932 | €351,571 | +€205,638 | +140.9% |
| Amounts payable within one year | 42/48 | €145,932 | €351,571 | +€205,638 | +140.9% |
| Trade debts | 44 | €144,301 | €348,066 | +€203,765 | +141.2% |
| Suppliers | 440/4 | €144,301 | €348,066 | +€203,765 | +141.2% |
| Taxes, remuneration and social security | 45 | €1,631 | €3,505 | +€1,874 | +114.9% |
| Taxes | 450/3 | €1,631 | €3,505 | +€1,874 | +114.9% |
| Non-recurring operating income | 76A | €124 | €124 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €1,101 | €1,918 | +€817 | +74.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €874 | €766 | -€108 | -12.3% |
| Other operating charges | 640/8 | €3,125 | €1,936 | -€1,188 | -38.0% |
| Gross operating margin | 9900 | -€137,448 | -€284,036 | -€146,587 | -106.6% |
| Operating profit (loss) | 9901 | -€142,548 | -€288,657 | -€146,109 | -102.5% |
| Financial income | 75/76B | €3,385 | €376 | -€3,009 | -88.9% |
| Recurring financial income | 75 | €3,385 | €376 | -€3,009 | -88.9% |
| Financial charges | 65/66B | €5,440 | €6,265 | +€825 | +15.2% |
| Recurring financial charges | 65 | €5,440 | €6,265 | +€825 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | -€144,603 | -€294,547 | -€149,943 | -103.7% |
| Income taxes | 67/77 | €1,662 | €1,450 | -€212 | -12.8% |
| Profit (loss) for the period | 9904 | -€146,265 | -€295,996 | -€149,731 | -102.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€146,265 | -€295,996 | -€149,731 | -102.4% |
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 11 October 2026 via checked.be.