Storm 36: 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.
Storm 36
Largest movements
- Tangible fixed assets +€10.8m
up €10.8m (+218%), from €5.0m to €15.8m
- Intangible fixed assets +€2.2m
up €2.2m (+974%), from €227,366 to €2.4m
- Financial fixed assets -€233,998
down €233,998 (-99.8%), from €234,539 to €540
- Debts after one year +€5.1m
up €5.1m (+191%), from €2.6m to €7.7m
of which Financial debts: +€3.0m
- Trade debts +€3.9m
up €3.9m (+183%), from €2.1m to €6.1m
- Current portion of long-term debt +€2.9m
new in 2025: €2.9m
- Accrued charges and deferred income +€956,937
up €956,937 (+346%), from €276,451 to €1.2m
- Gross operating margin +€640,256
up €640,256 (+6,801%), from €9,414 to €649,670
- Depreciation +€494,079
up €494,079 (+3,918%), from €12,611 to €506,690
- Financial charges +€253,611
up €253,611 (+2,560%), from €9,907 to €263,518
- Financial income +€59,530
up €59,530 (+190%), from €31,403 to €90,933
- Other operating charges +€20,120
up €20,120 (+962%), from €2,092 to €22,212
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,414,990 | €19,198,754 | +€12.8m | +199% |
| Fixed assets | 21/28 | €5,415,059 | €18,193,457 | +€12.8m | +236% |
| Intangible fixed assets | 21 | €227,366 | €2,440,857 | +€2.2m | +974% |
| Tangible fixed assets | 22/27 | €4,953,154 | €15,752,060 | +€10.8m | +218% |
| Land and buildings | 22 | €2,982,692 | €6,277,584 | +€3.3m | +110% |
| Plant, machinery and equipment | 23 | €1,970,462 | €7,280,757 | +€5.3m | +269% |
| Assets under construction and advance payments | 27 | - | €2,193,719 | +€2.2m | |
| Financial fixed assets | 28 | €234,539 | €540 | -€233,998 | -99.8% |
| Current assets | 29/58 | €999,931 | €1,005,297 | +€5,366 | +0.5% |
| Amounts receivable within one year | 40/41 | €884,272 | €806,937 | -€77,336 | -8.7% |
| Trade receivables | 40 | €884,272 | €806,937 | -€77,336 | -8.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €115,658 | €198,360 | +€82,702 | +71.5% |
| Total equity and liabilities | 10/49 | €6,414,990 | €19,198,754 | +€12.8m | +199% |
| Equity | 10/15 | €739,167 | €682,933 | -€56,234 | -7.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €732,967 | €676,733 | -€56,234 | -7.7% |
| Amounts payable | 17/49 | €5,675,823 | €18,515,821 | +€12.8m | +226% |
| Amounts payable after more than one year | 17 | €2,645,000 | €7,707,013 | +€5.1m | +191% |
| Financial debts | 170/4 | €2,645,000 | €5,640,596 | +€3.0m | +113% |
| Other amounts payable | 178/9 | - | €2,066,417 | +€2.1m | |
| Amounts payable within one year | 42/48 | €2,754,372 | €9,575,421 | +€6.8m | +248% |
| Current portion of amounts payable after more than one year | 42 | - | €2,881,602 | +€2.9m | |
| Trade debts | 44 | €2,141,461 | €6,061,346 | +€3.9m | +183% |
| Suppliers | 440/4 | €2,141,461 | €6,061,346 | +€3.9m | +183% |
| Taxes, remuneration and social security | 45 | €612,911 | €632,472 | +€19,561 | +3.2% |
| Taxes | 450/3 | €612,911 | €632,472 | +€19,561 | +3.2% |
| Accrued charges and deferred income | 492/3 | €276,451 | €1,233,388 | +€956,937 | +346% |
| Non-recurring operating income | 76A | - | €3,082 | +€3,082 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,611 | €506,690 | +€494,079 | +3,918% |
| Other operating charges | 640/8 | €2,092 | €22,212 | +€20,120 | +962% |
| Gross operating margin | 9900 | €9,414 | €649,670 | +€640,256 | +6,801% |
| Operating profit (loss) | 9901 | -€5,289 | €120,767 | +€126,056 | |
| Financial income | 75/76B | €31,403 | €90,933 | +€59,530 | +190% |
| Recurring financial income | 75 | €31,403 | €90,933 | +€59,530 | +190% |
| Financial charges | 65/66B | €9,907 | €263,518 | +€253,611 | +2,560% |
| Recurring financial charges | 65 | €9,907 | €263,518 | +€253,611 | +2,560% |
| Profit (loss) for the period before taxes | 9903 | €16,207 | -€51,818 | -€68,025 | |
| Income taxes | 67/77 | €8,825 | €4,416 | -€4,408 | -50.0% |
| Profit (loss) for the period | 9904 | €7,383 | -€56,234 | -€63,617 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,383 | -€56,234 | -€63,617 |
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 13 October 2026 via checked.be.