SILVERSTONE II: 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.
What changed
SILVERSTONE II
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€3.6m
2023 · -€607,652-€3.0m
Equity
-€7.9m
2023 · -€4.4m-€3.6m
Cash
€580,541
2023 · €580,541
Balance sheet total
€18.3m
2023 · €21.9m-€3.6m
Largest movements
Assets
- Formation expenses -€3.0m
down €3.0m (-100.0%), from €3.0m to €0
- Tangible fixed assets -€589,043
down €589,043 (-3.2%), from €18.3m to €17.7m
Equity and liabilities
- Profit (loss) carried forward -€3.5m
down €3.5m (-78.1%), from -€4.5m to -€8.1m
- Other debts -€370,138
down €370,138 (-70.6%), from €523,918 to €153,780
- Debts after one year +€280,919
up €280,919 (+1.1%), from €24.9m to €25.2m
of which Financial debts: +€244,407
Income statement
- Financial charges +€49,272
up €49,272 (+5.9%), from €831,811 to €881,083
- Gross operating margin +€9,598
up €9,598 (+1.0%), from €942,943 to €952,541
From the 2023 result to the 2024 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.
Result 2023
-€607,652
Gross operating margin
+€9,598
Other operating charges
-€901
Other operating items
-€2.9m
Financial income
-€1,045
Financial charges
-€49,272
Result 2024
-€3.6m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€3.2m
Investment
+€2.9m
Financing
+€310,764
Cash 2023
€580,541
From operations (derived)
-€3.2m
Net result for the year
-€3.6m
Depreciation
+€719,498
Smaller working-capital items
+€3,201
Other debts
-€370,138
Accrued charges and deferred income
+€31,590
Investment (derived)
+€2.9m
Investment in fixed assets (net)
+€2.9m
Financing
+€310,764
Debts after one year
+€280,919
Current portion of long-term debt
+€29,845
Cash 2024
€580,541
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,934,600 | €18,347,086 | -€3.6m | -16.4% |
| Formation expenses | 20 | €3,000,456 | €0 | -€3.0m | -100.0% |
| Fixed assets | 21/28 | €18,330,849 | €17,741,806 | -€589,043 | -3.2% |
| Tangible fixed assets | 22/27 | €18,330,849 | €17,741,806 | -€589,043 | -3.2% |
| Land and buildings | 22 | €18,330,849 | €17,741,806 | -€589,043 | -3.2% |
| Current assets | 29/58 | €603,294 | €605,280 | +€1,986 | +0.3% |
| Amounts receivable within one year | 40/41 | €21,708 | €24,739 | +€3,030 | +14.0% |
| Trade receivables | 40 | €0 | €24,739 | +€24,739 | |
| Other amounts receivable | 41 | €21,708 | €0 | -€21,708 | -100.0% |
| Cash at bank and in hand | 54/58 | €580,541 | €580,541 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €1,045 | €0 | -€1,045 | -100.0% |
| Total equity and liabilities | 10/49 | €21,934,600 | €18,347,086 | -€3.6m | -16.4% |
| Equity | 10/15 | -€4,360,686 | -€7,925,602 | -€3.6m | -81.8% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €40,712 | €10,183 | -€30,529 | -75.0% |
| Non-distributable reserves | 130/1 | €10,183 | €10,183 | = | 0.0% |
| Legal reserve | 130 | €10,183 | €10,183 | = | 0.0% |
| Distributable reserves | 133 | €30,529 | €0 | -€30,529 | -100.0% |
| Profit (loss) carried forward | 14 | -€4,525,398 | -€8,059,785 | -€3.5m | -78.1% |
| Amounts payable | 17/49 | €26,295,285 | €26,272,688 | -€22,597 | -0.1% |
| Amounts payable after more than one year | 17 | €24,869,377 | €25,150,296 | +€280,919 | +1.1% |
| Financial debts | 170/4 | €23,625,313 | €23,869,720 | +€244,407 | +1.0% |
| Trade debts | 175 | €1,244,064 | €1,280,576 | +€36,513 | +2.9% |
| Amounts payable within one year | 42/48 | €1,225,096 | €889,989 | -€335,107 | -27.4% |
| Current portion of amounts payable after more than one year | 42 | €696,305 | €726,150 | +€29,845 | +4.3% |
| Trade debts | 44 | €4,873 | €10,059 | +€5,186 | +106.4% |
| Suppliers | 440/4 | €4,873 | €10,059 | +€5,186 | +106.4% |
| Other amounts payable | 47/48 | €523,918 | €153,780 | -€370,138 | -70.6% |
| Accrued charges and deferred income | 492/3 | €200,813 | €232,403 | +€31,590 | +15.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €719,498 | €719,498 | = | 0.0% |
| Other operating charges | 640/8 | €332 | €1,233 | +€901 | +271.6% |
| Non-recurring operating charges | 66A | €0 | €2,915,645 | +€2.9m | |
| Gross operating margin | 9900 | €942,943 | €952,541 | +€9,598 | +1.0% |
| Operating profit (loss) | 9901 | €223,114 | -€2,683,833 | -€2.9m | |
| Financial income | 75/76B | €1,045 | €0 | -€1,045 | -100.0% |
| Recurring financial income | 75 | €1,045 | €0 | -€1,045 | -100.0% |
| Financial charges | 65/66B | €831,811 | €881,083 | +€49,272 | +5.9% |
| Recurring financial charges | 65 | €831,811 | €881,083 | +€49,272 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | -€607,652 | -€3,564,916 | -€3.0m | -486.7% |
| Profit (loss) for the period | 9904 | -€607,652 | -€3,564,916 | -€3.0m | -486.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€607,652 | -€3,564,916 | -€3.0m | -486.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.