Constelea Participations: what changed
Constelea Participations
Largest movements
- Current investments -€150,000
down €150,000 (-23.1%), from €650,000 to €500,000
- Cash +€89,022
up €89,022 (+95.6%), from €93,111 to €182,133
mainly Current investments (+€150,000) and Net result for the year (+€2,477)
- Receivables within one year +€61,065
up €61,065 (+15.0%), from €406,019 to €467,084
of which Other amounts receivable: +€69,171
No liability line moved by more than 1% of the balance sheet total.
- Taxes -€4,340
down €4,340 (-77.8%), from €5,577 to €1,237
- Financial income +€2,262
up €2,262 (+11.4%), from €19,891 to €22,153
- Gross operating margin -€1,692
down €1,692 (-11.3%), from -€15,026 to -€16,718
- Other operating charges +€844
up €844 (+300%), from €282 to €1,125
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,790,797 | €2,790,493 | -€304 | 0.0% |
| Fixed assets | 21/28 | €1,641,667 | €1,641,275 | -€391 | 0.0% |
| Tangible fixed assets | 22/27 | €13,837 | €13,445 | -€391 | -2.8% |
| Plant, machinery and equipment | 23 | €1,337 | €945 | -€391 | -29.3% |
| Furniture and vehicles | 24 | €12,500 | €12,500 | = | 0.0% |
| Financial fixed assets | 28 | €1,627,830 | €1,627,830 | = | 0.0% |
| Current assets | 29/58 | €1,149,130 | €1,149,217 | +€87 | 0.0% |
| Amounts receivable within one year | 40/41 | €406,019 | €467,084 | +€61,065 | +15.0% |
| Trade receivables | 40 | €8,106 | - | -€8,106 | |
| Other amounts receivable | 41 | €397,913 | €467,084 | +€69,171 | +17.4% |
| Current investments | 50/53 | €650,000 | €500,000 | -€150,000 | -23.1% |
| Cash at bank and in hand | 54/58 | €93,111 | €182,133 | +€89,022 | +95.6% |
| Total equity and liabilities | 10/49 | €2,790,797 | €2,790,493 | -€304 | 0.0% |
| Equity | 10/15 | €2,785,663 | €2,788,140 | +€2,477 | +0.1% |
| Contributions | 10/11 | €1,628,200 | €1,628,200 | = | 0.0% |
| Reserves | 13 | €1,218,911 | €1,218,911 | = | 0.0% |
| Non-distributable reserves | 130/1 | €664,047 | €664,047 | = | 0.0% |
| Reserves not available under the articles | 1311 | €164,047 | €164,047 | = | 0.0% |
| Own shares acquired | 1312 | €500,000 | €500,000 | = | 0.0% |
| Distributable reserves | 133 | €554,865 | €554,865 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,448 | -€58,972 | +€2,477 | +4.0% |
| Amounts payable | 17/49 | €5,134 | €2,353 | -€2,781 | -54.2% |
| Amounts payable within one year | 42/48 | €5,134 | €2,353 | -€2,781 | -54.2% |
| Trade debts | 44 | €4,894 | €876 | -€4,018 | -82.1% |
| Suppliers | 440/4 | €4,894 | €876 | -€4,018 | -82.1% |
| Taxes, remuneration and social security | 45 | €239 | €1,477 | +€1,237 | +517% |
| Taxes | 450/3 | €239 | €1,477 | +€1,237 | +517% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €391 | €391 | = | 0.0% |
| Other operating charges | 640/8 | €282 | €1,125 | +€844 | +300% |
| Gross operating margin | 9900 | -€15,026 | -€16,718 | -€1,692 | -11.3% |
| Operating profit (loss) | 9901 | -€15,699 | -€18,235 | -€2,535 | -16.2% |
| Financial income | 75/76B | €19,891 | €22,153 | +€2,262 | +11.4% |
| Recurring financial income | 75 | €19,891 | €22,153 | +€2,262 | +11.4% |
| Financial charges | 65/66B | €170 | €205 | +€34 | +20.3% |
| Recurring financial charges | 65 | €170 | €205 | +€34 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | €4,022 | €3,714 | -€308 | -7.6% |
| Income taxes | 67/77 | €5,577 | €1,237 | -€4,340 | -77.8% |
| Profit (loss) for the period | 9904 | -€1,555 | €2,477 | +€4,032 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,555 | €2,477 | +€4,032 |
Next steps
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 7 November 2026 via checked.be.