STATELINE: 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.
STATELINE
Largest movements
- Tangible fixed assets +€413,560
up €413,560, from €0 to €413,560
of which Land and buildings: +€384,192
- Stocks and contracts +€40,489
up €40,489 (+9.6%), from €421,476 to €461,965
- Receivables within one year +€17,550
up €17,550 (+148.7%), from €11,802 to €29,352
of which Trade receivables: +€17,714
- Short-term financial debts +€270,000
new in 2025: €270,000
- Debts after one year +€196,186
up €196,186 (+122.2%), from €160,490 to €356,676
- Gross operating margin +€13,011
up €13,011, from -€1,502 to €11,509
- Depreciation +€8,440
up €8,440, from €0 to €8,440
- Financial charges +€6,662
up €6,662 (+299.5%), from €2,224 to €8,886
- Other operating charges +€1,388
up €1,388 (+225.2%), from €616 to €2,005
- Taxes -€118
down €118 (-100.0%), from €118 to €0
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 | €463,180 | €934,247 | +€471,067 | +101.7% |
| Fixed assets | 21/28 | €1,300 | €414,860 | +€413,560 | +31812.3% |
| Tangible fixed assets | 22/27 | €0 | €413,560 | +€413,560 | |
| Land and buildings | 22 | - | €384,192 | +€384,192 | |
| Plant, machinery and equipment | 23 | - | €29,368 | +€29,368 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €461,880 | €519,387 | +€57,507 | +12.5% |
| Stocks and contracts in progress | 3 | €421,476 | €461,965 | +€40,489 | +9.6% |
| Stocks | 30/36 | €421,476 | €461,965 | +€40,489 | +9.6% |
| Amounts receivable within one year | 40/41 | €11,802 | €29,352 | +€17,550 | +148.7% |
| Trade receivables | 40 | €11,071 | €28,785 | +€17,714 | +160.0% |
| Other amounts receivable | 41 | €730 | €567 | -€164 | -22.4% |
| Cash at bank and in hand | 54/58 | €28,603 | €27,179 | -€1,424 | -5.0% |
| Deferred charges and accrued income | 490/1 | - | €891 | +€891 | |
| Total equity and liabilities | 10/49 | €463,180 | €934,247 | +€471,067 | +101.7% |
| Equity | 10/15 | €299,941 | €292,153 | -€7,788 | -2.6% |
| Contributions | 10/11 | €325,000 | €325,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,059 | -€32,847 | -€7,788 | -31.1% |
| Amounts payable | 17/49 | €163,239 | €642,095 | +€478,855 | +293.3% |
| Amounts payable after more than one year | 17 | €160,490 | €356,676 | +€196,186 | +122.2% |
| Financial debts | 170/4 | €160,490 | €356,676 | +€196,186 | +122.2% |
| Amounts payable within one year | 42/48 | €2,749 | €285,418 | +€282,670 | +10283.2% |
| Current portion of amounts payable after more than one year | 42 | - | €5,967 | +€5,967 | |
| Financial debts | 43 | - | €270,000 | +€270,000 | |
| Other loans | 439 | - | €270,000 | +€270,000 | |
| Trade debts | 44 | €1,468 | €6,554 | +€5,086 | +346.5% |
| Suppliers | 440/4 | €1,468 | €6,554 | +€5,086 | +346.5% |
| Taxes, remuneration and social security | 45 | €1,281 | €1,057 | -€224 | -17.5% |
| Taxes | 450/3 | €1,281 | €1,057 | -€224 | -17.5% |
| Other amounts payable | 47/48 | €0 | €1,841 | +€1,841 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €8,440 | +€8,440 | |
| Other operating charges | 640/8 | €616 | €2,005 | +€1,388 | +225.2% |
| Non-recurring operating charges | 66A | €11,546 | €0 | -€11,546 | -100.0% |
| Gross operating margin | 9900 | -€1,502 | €11,509 | +€13,011 | |
| Operating profit (loss) | 9901 | -€13,665 | €1,064 | +€14,729 | |
| Financial income | 75/76B | €1 | €34 | +€33 | +3623.3% |
| Recurring financial income | 75 | €1 | €34 | +€33 | +3623.3% |
| Financial charges | 65/66B | €2,224 | €8,886 | +€6,662 | +299.5% |
| Recurring financial charges | 65 | €2,224 | €8,886 | +€6,662 | +299.5% |
| Profit (loss) for the period before taxes | 9903 | -€15,888 | -€7,788 | +€8,100 | +51.0% |
| Income taxes | 67/77 | €118 | €0 | -€118 | -100.0% |
| Profit (loss) for the period | 9904 | -€16,006 | -€7,788 | +€8,218 | +51.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,006 | -€7,788 | +€8,218 | +51.3% |
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 29 September 2026 via checked.be.