SAINT-LOUIS: what changed
What changed
SAINT-LOUIS
filed annual accounts (NBB)
Net result for the year
-€39,486
2024 · -€23,918-€15,568
Equity
-€128,733
2024 · -€89,246-€39,486
Cash
€11,620
2024 · €15,619-€3,999
Balance sheet total
€591,662
2024 · €619,244-€27,581
Largest movements
Assets
- Tangible fixed assets -€17,884
down €17,884 (-3.0%), from €595,897 to €578,013
Equity and liabilities
- Profit (loss) carried forward -€39,486
down €39,486 (-33.7%), from -€117,246 to -€156,733
- Debts after one year +€7,028
up €7,028 (+1.1%), from €664,372 to €671,401
of which Other amounts payable: +€33,273
Income statement
- Gross operating margin -€15,350
down €15,350, from €8,890 to -€6,460
- Financial charges +€530
up €530 (+5.2%), from €10,129 to €10,658
- Depreciation -€256
down €256 (-1.4%), from €18,140 to €17,884
- Taxes -€194
no longer reported in 2025 (was €194)
- Other operating charges +€138
up €138 (+3.2%), from €4,346 to €4,484
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
-€23,918
Gross operating margin
-€15,350
Depreciation
+€256
Other operating charges
-€138
Financial charges
-€530
Taxes
+€194
Result 2025
-€39,486
raises the resultlowers the result
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
-€11,356
Investment
€0
Financing
+€7,357
Cash 2024
€15,619
From operations (derived)
-€11,356
Net result for the year
-€39,486
Depreciation
+€17,884
Receivables within one year
+€5,584
Deferred charges and accrued income
+€114
Trade debts
-€472
Tax, wage and social debts
-€182
Accrued charges and deferred income
+€5,202
Financing
+€7,357
Debts after one year
+€7,028
Current portion of long-term debt
+€328
Cash 2025
€11,620
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €619,244 | €591,662 | -€27,581 | -4.5% |
| Fixed assets | 21/28 | €595,897 | €578,013 | -€17,884 | -3.0% |
| Tangible fixed assets | 22/27 | €595,897 | €578,013 | -€17,884 | -3.0% |
| Other tangible fixed assets | 26 | €595,897 | €578,013 | -€17,884 | -3.0% |
| Current assets | 29/58 | €23,346 | €13,649 | -€9,697 | -41.5% |
| Amounts receivable within one year | 40/41 | €5,584 | - | -€5,584 | |
| Trade receivables | 40 | €2,967 | - | -€2,967 | |
| Other amounts receivable | 41 | €2,617 | - | -€2,617 | |
| Cash at bank and in hand | 54/58 | €15,619 | €11,620 | -€3,999 | -25.6% |
| Deferred charges and accrued income | 490/1 | €2,143 | €2,028 | -€114 | -5.3% |
| Total equity and liabilities | 10/49 | €619,244 | €591,662 | -€27,581 | -4.5% |
| Equity | 10/15 | -€89,246 | -€128,733 | -€39,486 | -44.2% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,246 | -€156,733 | -€39,486 | -33.7% |
| Amounts payable | 17/49 | €708,490 | €720,395 | +€11,905 | +1.7% |
| Amounts payable after more than one year | 17 | €664,372 | €671,401 | +€7,028 | +1.1% |
| Financial debts | 170/4 | €399,285 | €373,040 | -€26,245 | -6.6% |
| Other amounts payable | 178/9 | €265,087 | €298,360 | +€33,273 | +12.6% |
| Amounts payable within one year | 42/48 | €29,013 | €28,687 | -€326 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €25,917 | €26,245 | +€328 | +1.3% |
| Trade debts | 44 | €2,721 | €2,249 | -€472 | -17.4% |
| Suppliers | 440/4 | €2,721 | €2,249 | -€472 | -17.4% |
| Taxes, remuneration and social security | 45 | €376 | €194 | -€182 | -48.5% |
| Taxes | 450/3 | €376 | €194 | -€182 | -48.5% |
| Accrued charges and deferred income | 492/3 | €15,105 | €20,307 | +€5,202 | +34.4% |
| Non-recurring operating income | 76A | €9,058 | - | -€9,058 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,140 | €17,884 | -€256 | -1.4% |
| Other operating charges | 640/8 | €4,346 | €4,484 | +€138 | +3.2% |
| Gross operating margin | 9900 | €8,890 | -€6,460 | -€15,350 | |
| Operating profit (loss) | 9901 | -€13,596 | -€28,828 | -€15,232 | -112% |
| Financial charges | 65/66B | €10,129 | €10,658 | +€530 | +5.2% |
| Recurring financial charges | 65 | €10,129 | €10,658 | +€530 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | -€23,725 | -€39,486 | -€15,762 | -66.4% |
| Income taxes | 67/77 | €194 | - | -€194 | |
| Profit (loss) for the period | 9904 | -€23,918 | -€39,486 | -€15,568 | -65.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,918 | -€39,486 | -€15,568 | -65.1% |
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 2 November 2026 via checked.be.