Citystate: 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.
Citystate
Largest movements
- Receivables within one year +€2.0m
up €2.0m (+854.8%), from €228,836 to €2.2m
of which Other amounts receivable: +€2.0m
- Deferred charges and accrued income +€75,969
up €75,969 (+413.2%), from €18,385 to €94,354
- Cash -€34,666
down €34,666 (-97.5%), from €35,569 to €903
mainly Receivables within one year (-€2.0m) and Investment in fixed assets (net) (-€76,967)
- Debts after one year +€1.8m
up €1.8m (+351.3%), from €520,000 to €2.3m
- Accrued charges and deferred income +€124,217
up €124,217 (+577.2%), from €21,519 to €145,736
- Trade debts +€37,222
up €37,222 (+765.0%), from €4,865 to €42,087
- Depreciation -€78,359
down €78,359 (-52.1%), from €150,302 to €71,943
- Financial charges +€39,329
up €39,329 (+250.2%), from €15,718 to €55,046
- Other operating charges -€21,832
down €21,832 (-34.4%), from €63,538 to €41,706
- Gross operating margin -€12,201
down €12,201 (-6.5%), from €188,608 to €176,407
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 | €933,870 | €2,936,234 | +€2.0m | +214.4% |
| Fixed assets | 21/28 | €651,080 | €656,105 | +€5,024 | +0.8% |
| Tangible fixed assets | 22/27 | €651,080 | €656,105 | +€5,024 | +0.8% |
| Land and buildings | 22 | €647,706 | €581,532 | -€66,174 | -10.2% |
| Plant, machinery and equipment | 23 | - | €27,210 | +€27,210 | |
| Furniture and vehicles | 24 | €3,374 | €47,363 | +€43,989 | +1303.7% |
| Current assets | 29/58 | €282,790 | €2,280,129 | +€2.0m | +706.3% |
| Amounts receivable within one year | 40/41 | €228,836 | €2,184,872 | +€2.0m | +854.8% |
| Trade receivables | 40 | €18,462 | €0 | -€18,462 | -100.0% |
| Other amounts receivable | 41 | €210,374 | €2,184,872 | +€2.0m | +938.6% |
| Cash at bank and in hand | 54/58 | €35,569 | €903 | -€34,666 | -97.5% |
| Deferred charges and accrued income | 490/1 | €18,385 | €94,354 | +€75,969 | +413.2% |
| Total equity and liabilities | 10/49 | €933,870 | €2,936,234 | +€2.0m | +214.4% |
| Equity | 10/15 | €269,783 | €277,427 | +€7,644 | +2.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €214,783 | €222,427 | +€7,644 | +3.6% |
| Amounts payable | 17/49 | €664,087 | €2,658,807 | +€2.0m | +300.4% |
| Amounts payable after more than one year | 17 | €520,000 | €2,347,000 | +€1.8m | +351.3% |
| Financial debts | 170/4 | €520,000 | €2,347,000 | +€1.8m | +351.3% |
| Amounts payable within one year | 42/48 | €122,568 | €166,071 | +€43,503 | +35.5% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €60,000 | = | 0.0% |
| Trade debts | 44 | €4,865 | €42,087 | +€37,222 | +765.0% |
| Suppliers | 440/4 | €4,865 | €42,087 | +€37,222 | +765.0% |
| Taxes, remuneration and social security | 45 | €0 | €68 | +€68 | |
| Taxes | 450/3 | €0 | €68 | +€68 | |
| Other amounts payable | 47/48 | €57,703 | €63,916 | +€6,213 | +10.8% |
| Accrued charges and deferred income | 492/3 | €21,519 | €145,736 | +€124,217 | +577.2% |
| Non-recurring operating income | 76A | - | €6,384 | +€6,384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,302 | €71,943 | -€78,359 | -52.1% |
| Other operating charges | 640/8 | €63,538 | €41,706 | -€21,832 | -34.4% |
| Gross operating margin | 9900 | €188,608 | €176,407 | -€12,201 | -6.5% |
| Operating profit (loss) | 9901 | -€25,232 | €62,758 | +€87,990 | |
| Financial charges | 65/66B | €15,718 | €55,046 | +€39,329 | +250.2% |
| Recurring financial charges | 65 | €15,718 | €55,046 | +€39,329 | +250.2% |
| Profit (loss) for the period before taxes | 9903 | -€40,950 | €7,712 | +€48,661 | |
| Income taxes | 67/77 | €0 | €68 | +€68 | |
| Profit (loss) for the period | 9904 | -€40,950 | €7,644 | +€48,593 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,950 | €7,644 | +€48,593 |
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 3 October 2026 via checked.be.