STATION G: what changed
Two financial 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.
STATION G
Largest movements
- Tangible fixed assets -€82,470
down €82,470 (-5.5%), from €1.5m to €1.4m
of which Land and buildings: -€97,323
- Receivables within one year +€51,097
up €51,097 (+659%), from €7,748 to €58,845
of which Trade receivables: +€54,512
- Cash -€36,687
down €36,687 (-79.7%), from €46,032 to €9,345
mainly Other debts (-€1.3m) and Net result for the year (-€248,264)
- Debts after one year +€1.5m
up €1.5m (+563%), from €257,699 to €1.7m
of which Financial debts: +€1.5m
- Other debts -€1.3m
down €1.3m (-94.1%), from €1.4m to €82,916
- Profit (loss) carried forward -€248,264
down €248,264 (-8.1%), from -€3.1m to -€3.3m
- Accrued charges and deferred income +€42,349
new in 2025: €42,349
- Current portion of long-term debt -€20,172
down €20,172 (-29.7%), from €67,899 to €47,727
- Staff costs +€48,331
up €48,331 (+16.7%), from €289,910 to €338,241
- Financial charges -€47,207
down €47,207 (-74.8%), from €63,075 to €15,868
- Gross operating margin -€11,650
down €11,650 (-4.4%), from €263,489 to €251,839
- Depreciation +€8,417
up €8,417 (+7.4%), from €113,223 to €121,640
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.
Derived cash bridge
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 | €1,630,063 | €1,547,264 | -€82,799 | -5.1% |
| Formation expenses | 20 | €0 | €0 | = | 0.0% |
| Fixed assets | 21/28 | €1,495,194 | €1,410,575 | -€84,619 | -5.7% |
| Tangible fixed assets | 22/27 | €1,492,681 | €1,410,211 | -€82,470 | -5.5% |
| Land and buildings | 22 | €1,423,835 | €1,326,512 | -€97,323 | -6.8% |
| Plant, machinery and equipment | 23 | €30,611 | €25,587 | -€5,024 | -16.4% |
| Furniture and vehicles | 24 | €38,235 | €58,112 | +€19,877 | +52.0% |
| Financial fixed assets | 28 | €2,513 | €364 | -€2,149 | -85.5% |
| Current assets | 29/58 | €134,869 | €136,689 | +€1,820 | +1.3% |
| Stocks and contracts in progress | 3 | €69,589 | €65,999 | -€3,590 | -5.2% |
| Stocks | 30/36 | €69,589 | €65,999 | -€3,590 | -5.2% |
| Amounts receivable within one year | 40/41 | €7,748 | €58,845 | +€51,097 | +659% |
| Trade receivables | 40 | €4,332 | €58,844 | +€54,512 | +1,258% |
| Other amounts receivable | 41 | €3,416 | €1 | -€3,415 | -100.0% |
| Cash at bank and in hand | 54/58 | €46,032 | €9,345 | -€36,687 | -79.7% |
| Deferred charges and accrued income | 490/1 | €11,500 | €2,500 | -€9,000 | -78.3% |
| Total equity and liabilities | 10/49 | €1,630,063 | €1,547,264 | -€82,799 | -5.1% |
| Equity | 10/15 | -€396,895 | -€645,158 | -€248,264 | -62.6% |
| Contributions | 10/11 | €1,848,000 | €1,848,000 | = | 0.0% |
| Capital | 10 | €1,848,000 | €1,848,000 | = | 0.0% |
| Issued capital | 100 | €1,848,000 | €1,848,000 | = | 0.0% |
| Reserves | 13 | €830,452 | €830,452 | = | 0.0% |
| Non-distributable reserves | 130/1 | €70,000 | €70,000 | = | 0.0% |
| Legal reserve | 130 | €70,000 | €70,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €760,452 | €760,452 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,075,346 | -€3,323,610 | -€248,264 | -8.1% |
| Amounts payable | 17/49 | €2,026,957 | €2,192,422 | +€165,465 | +8.2% |
| Amounts payable after more than one year | 17 | €257,699 | €1,709,519 | +€1.5m | +563% |
| Financial debts | 170/4 | €254,999 | €1,706,819 | +€1.5m | +569% |
| Other amounts payable | 178/9 | €2,700 | €2,700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,769,259 | €440,554 | -€1.3m | -75.1% |
| Current portion of amounts payable after more than one year | 42 | €67,899 | €47,727 | -€20,172 | -29.7% |
| Trade debts | 44 | €234,121 | €246,587 | +€12,466 | +5.3% |
| Suppliers | 440/4 | €234,121 | €246,587 | +€12,466 | +5.3% |
| Taxes, remuneration and social security | 45 | €53,236 | €63,324 | +€10,088 | +18.9% |
| Taxes | 450/3 | €2,939 | €4,260 | +€1,320 | +44.9% |
| Remuneration and social security | 454/9 | €50,297 | €59,064 | +€8,768 | +17.4% |
| Other amounts payable | 47/48 | €1,414,002 | €82,916 | -€1.3m | -94.1% |
| Accrued charges and deferred income | 492/3 | - | €42,349 | +€42,349 | |
| Remuneration, social security and pensions | 62 | €289,910 | €338,241 | +€48,331 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,223 | €121,640 | +€8,417 | +7.4% |
| Other operating charges | 640/8 | €24,805 | €24,834 | +€29 | +0.1% |
| Gross operating margin | 9900 | €263,489 | €251,839 | -€11,650 | -4.4% |
| Operating profit (loss) | 9901 | -€164,449 | -€232,876 | -€68,427 | -41.6% |
| Financial income | 75/76B | €2,488 | €481 | -€2,008 | -80.7% |
| Recurring financial income | 75 | €2,488 | €481 | -€2,008 | -80.7% |
| Financial charges | 65/66B | €63,075 | €15,868 | -€47,207 | -74.8% |
| Recurring financial charges | 65 | €63,075 | €15,868 | -€47,207 | -74.8% |
| Profit (loss) for the period before taxes | 9903 | -€225,036 | -€248,264 | -€23,228 | -10.3% |
| Profit (loss) for the period | 9904 | -€225,036 | -€248,264 | -€23,228 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€225,036 | -€248,264 | -€23,228 | -10.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.