STATION GRAY: 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.
STATION GRAY
Largest movements
- Receivables within one year +€3,872
new in 2025: €3,872
- Cash -€2,346
down €2,346 (-96.8%), from €2,423 to €77
mainly Other debts (-€47,369) and Debts after one year (-€15,969)
- Trade debts +€59,275
up €59,275 (+338.7%), from €17,500 to €76,775
- Other debts -€47,369
no longer reported in 2025 (was €47,369)
- Debts after one year -€15,969
down €15,969 (-35.6%), from €44,838 to €28,869
- Accrued charges and deferred income +€2,070
up €2,070 (+3.2%), from €64,609 to €66,680
- Gross operating margin -€12,549
down €12,549 (-71.3%), from €17,610 to €5,062
- Depreciation -€11,627
no longer reported in 2025 (was €11,627)
- Financial charges -€2,691
down €2,691 (-64.0%), from €4,207 to €1,516
- Taxes +€452
up €452 (+180.3%), from €251 to €703
- Financial income +€204
new in 2025: €204
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 | €197,223 | €198,749 | +€1,526 | +0.8% |
| Fixed assets | 21/28 | €194,800 | €194,800 | = | 0.0% |
| Tangible fixed assets | 22/27 | €194,800 | €194,800 | = | 0.0% |
| Land and buildings | 22 | €194,800 | €194,800 | = | 0.0% |
| Current assets | 29/58 | €2,423 | €3,949 | +€1,526 | +63.0% |
| Amounts receivable within one year | 40/41 | - | €3,872 | +€3,872 | |
| Other amounts receivable | 41 | - | €3,872 | +€3,872 | |
| Cash at bank and in hand | 54/58 | €2,423 | €77 | -€2,346 | -96.8% |
| Total equity and liabilities | 10/49 | €197,223 | €198,749 | +€1,526 | +0.8% |
| Equity | 10/15 | €7,109 | €8,356 | +€1,247 | +17.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,891 | -€11,644 | +€1,247 | +9.7% |
| Amounts payable | 17/49 | €190,114 | €190,393 | +€278 | +0.1% |
| Amounts payable after more than one year | 17 | €44,838 | €28,869 | -€15,969 | -35.6% |
| Financial debts | 170/4 | €44,838 | €28,869 | -€15,969 | -35.6% |
| Amounts payable within one year | 42/48 | €80,667 | €94,844 | +€14,177 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €15,597 | €15,969 | +€372 | +2.4% |
| Financial debts | 43 | - | €1,405 | +€1,405 | |
| Credit institutions | 430/8 | - | €1,405 | +€1,405 | |
| Trade debts | 44 | €17,500 | €76,775 | +€59,275 | +338.7% |
| Suppliers | 440/4 | €17,500 | €76,775 | +€59,275 | +338.7% |
| Taxes, remuneration and social security | 45 | €201 | €695 | +€494 | +246.0% |
| Taxes | 450/3 | €201 | €695 | +€494 | +246.0% |
| Other amounts payable | 47/48 | €47,369 | - | -€47,369 | |
| Accrued charges and deferred income | 492/3 | €64,609 | €66,680 | +€2,070 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,627 | - | -€11,627 | |
| Other operating charges | 640/8 | €1,746 | €1,800 | +€54 | +3.1% |
| Gross operating margin | 9900 | €17,610 | €5,062 | -€12,549 | -71.3% |
| Operating profit (loss) | 9901 | €4,238 | €3,262 | -€976 | -23.0% |
| Financial income | 75/76B | - | €204 | +€204 | |
| Recurring financial income | 75 | - | €204 | +€204 | |
| Financial charges | 65/66B | €4,207 | €1,516 | -€2,691 | -64.0% |
| Recurring financial charges | 65 | €4,207 | €1,516 | -€2,691 | -64.0% |
| Profit (loss) for the period before taxes | 9903 | €31 | €1,951 | +€1,919 | +6094.4% |
| Income taxes | 67/77 | €251 | €703 | +€452 | +180.3% |
| Profit (loss) for the period | 9904 | -€219 | €1,247 | +€1,467 | |
| Profit (loss) for the period to be appropriated | 9905 | -€219 | €1,247 | +€1,467 |
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 2 October 2026 via checked.be.