CONSTELA: 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.
CONSTELA
Largest movements
- Current investments -€182,621
down €182,621 (-24.2%), from €754,312 to €571,691
- Receivables within one year +€76,154
up €76,154 (+198.9%), from €38,284 to €114,438
of which Other amounts receivable: +€74,118
- Cash +€24,175
up €24,175 (+10.7%), from €226,867 to €251,042
mainly Net result for the year (+€231,667) and Current investments (+€182,621)
- Tangible fixed assets -€15,479
down €15,479 (-27.3%), from €56,697 to €41,218
- Reserves -€178,462
down €178,462 (-17.6%), from €1.0m to €832,833
- Other debts +€88,414
up €88,414 (+406.9%), from €21,731 to €110,146
- Contributions -€12,400
down €12,400 (-100.0%), from €12,400 to €0
- Gross operating margin +€39,895
up €39,895 (+15.5%), from €256,669 to €296,564
- Financial income +€24,453
up €24,453 (+107.1%), from €22,828 to €47,280
- Taxes +€13,631
up €13,631 (+17.8%), from €76,784 to €90,414
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 | €1,082,160 | €982,037 | -€100,124 | -9.3% |
| Fixed assets | 21/28 | €56,697 | €41,218 | -€15,479 | -27.3% |
| Tangible fixed assets | 22/27 | €56,697 | €41,218 | -€15,479 | -27.3% |
| Furniture and vehicles | 24 | €56,697 | €41,218 | -€15,479 | -27.3% |
| Current assets | 29/58 | €1,025,464 | €940,819 | -€84,644 | -8.3% |
| Amounts receivable within one year | 40/41 | €38,284 | €114,438 | +€76,154 | +198.9% |
| Trade receivables | 40 | €38,284 | €40,320 | +€2,036 | +5.3% |
| Other amounts receivable | 41 | - | €74,118 | +€74,118 | |
| Current investments | 50/53 | €754,312 | €571,691 | -€182,621 | -24.2% |
| Cash at bank and in hand | 54/58 | €226,867 | €251,042 | +€24,175 | +10.7% |
| Deferred charges and accrued income | 490/1 | €6,000 | €3,648 | -€2,352 | -39.2% |
| Total equity and liabilities | 10/49 | €1,082,160 | €982,037 | -€100,124 | -9.3% |
| Equity | 10/15 | €1,023,695 | €832,833 | -€190,862 | -18.6% |
| Contributions | 10/11 | €12,400 | €0 | -€12,400 | -100.0% |
| Reserves | 13 | €1,011,295 | €832,833 | -€178,462 | -17.6% |
| Distributable reserves | 133 | €1,011,295 | €832,833 | -€178,462 | -17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €58,465 | €149,204 | +€90,738 | +155.2% |
| Amounts payable within one year | 42/48 | €55,908 | €147,285 | +€91,376 | +163.4% |
| Trade debts | 44 | €3,501 | €1,671 | -€1,830 | -52.3% |
| Suppliers | 440/4 | €3,501 | €1,671 | -€1,830 | -52.3% |
| Taxes, remuneration and social security | 45 | €30,676 | €35,469 | +€4,792 | +15.6% |
| Taxes | 450/3 | €30,676 | €35,469 | +€4,792 | +15.6% |
| Other amounts payable | 47/48 | €21,731 | €110,146 | +€88,414 | +406.9% |
| Accrued charges and deferred income | 492/3 | €2,557 | €1,919 | -€638 | -25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,479 | €15,479 | = | 0.0% |
| Other operating charges | 640/8 | €732 | €186 | -€546 | -74.6% |
| Gross operating margin | 9900 | €256,669 | €296,564 | +€39,895 | +15.5% |
| Operating profit (loss) | 9901 | €240,458 | €280,899 | +€40,441 | +16.8% |
| Financial income | 75/76B | €22,828 | €47,280 | +€24,453 | +107.1% |
| Recurring financial income | 75 | €22,828 | €47,280 | +€24,453 | +107.1% |
| Financial charges | 65/66B | €6,276 | €6,098 | -€178 | -2.8% |
| Recurring financial charges | 65 | €6,276 | €6,098 | -€178 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €257,009 | €322,081 | +€65,072 | +25.3% |
| Income taxes | 67/77 | €76,784 | €90,414 | +€13,631 | +17.8% |
| Profit (loss) for the period | 9904 | €180,226 | €231,667 | +€51,441 | +28.5% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €180,226 | €231,667 | +€51,441 | +28.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.