STORM MANAGEMENT: 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
STORM MANAGEMENT
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€9,327
2024 · -€8.7m+€8.7m
Equity
€40.6m
2024 · €27.8m+€12.8m
Cash
€956,032
2024 · €1.7m-€710,655
Balance sheet total
€114.0m
2024 · €57.7m+€56.3m
Largest movements
Assets
- Receivables within one year +€28.8m
up €28.8m (+776.1%), from €3.7m to €32.6m
of which Trade receivables: +€26.1m
- Financial fixed assets +€24.8m
up €24.8m (+60.1%), from €41.3m to €66.1m
of which Affiliated companies: +€20.5m
- Stocks and contracts +€1.6m
up €1.6m (+58.0%), from €2.7m to €4.2m
- Deferred charges and accrued income +€1.4m
up €1.4m (+34.5%), from €4.2m to €5.6m
Equity and liabilities
- Current portion of long-term debt +€53.4m
new in 2025: €53.4m
- Debts after one year -€18.5m
down €18.5m (-100.0%), from €18.5m to €0
of which Financial debts: -€18.2m
- Revaluation surpluses +€12.8m
new in 2025: €12.8m
- Provisions +€6.2m
new in 2025: €6.2m
- Accrued charges and deferred income +€3.3m
up €3.3m (+2511.0%), from €131,493 to €3.4m
Income statement
- Turnover +€27.4m
up €27.4m (+674.2%), from €4.1m to €31.4m
- Financial charges +€9.4m
up €9.4m (+305.9%), from €3.1m to €12.5m
of which Non-recurring financial charges: +€5.7m
- Provisions +€6.2m
new in 2025: €6.2m
- Services and other goods +€997,055
up €997,055 (+16.3%), from €6.1m to €7.1m
- Staff costs +€925,502
up €925,502 (+10.6%), from €8.7m to €9.6m
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.
Result 2024
-€8.7m
Turnover
+€27.4m
Other operating income
+€129,521
Goods and materials
+€33,823
Services and other goods
-€997,055
Staff costs
-€925,502
Depreciation
+€13,681
Write-downs
-€96,899
Provisions
-€6.2m
Other operating charges
-€11,706
Other operating items
-€1.8m
Financial income
+€916,415
Financial charges
-€9.4m
Taxes
-€348,859
Result 2025
-€9,327
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.
From operations
-€23.6m
Investment
-€24.9m
Financing
+€47.8m
Cash 2024
€1.7m
From operations (derived)
-€23.6m
Net result for the year
-€9,327
Depreciation
+€258,718
Receivables after one year
-€572,253
Stocks and contracts
-€1.6m
Receivables within one year
-€28.8m
Deferred charges and accrued income
-€1.4m
Provisions
+€6.2m
Trade debts
-€456,705
Tax, wage and social debts
-€147,529
Other debts
-€301,309
Accrued charges and deferred income
+€3.3m
Investment (derived)
-€24.9m
Investment in fixed assets (net)
-€24.9m
Financing
+€47.8m
Debts after one year
-€18.5m
Current portion of long-term debt
+€53.4m
Contributions, distributions and other
+€12.8m
Cash 2025
€956,032
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,673,236 | €114,014,341 | +€56.3m | +97.7% |
| Fixed assets | 21/28 | €42,227,598 | €66,859,615 | +€24.6m | +58.3% |
| Intangible fixed assets | 21 | €92,843 | €50,801 | -€42,042 | -45.3% |
| Tangible fixed assets | 22/27 | €859,613 | €747,055 | -€112,559 | -13.1% |
| Plant, machinery and equipment | 23 | €2,093 | €0 | -€2,093 | -100.0% |
| Furniture and vehicles | 24 | €158,119 | €145,584 | -€12,535 | -7.9% |
| Other tangible fixed assets | 26 | €699,402 | €601,471 | -€97,931 | -14.0% |
| Financial fixed assets | 28 | €41,275,141 | €66,061,759 | +€24.8m | +60.1% |
| Affiliated companies | 280/1 | €36,212,197 | €56,740,492 | +€20.5m | +56.7% |
| Participating interests | 280 | €1,265,683 | €13,956,699 | +€12.7m | +1002.7% |
| Amounts receivable | 281 | €34,946,514 | €42,783,792 | +€7.8m | +22.4% |
| Companies linked by participating interests | 282/3 | €5,062,761 | €9,321,084 | +€4.3m | +84.1% |
| Participating interests | 282 | €1,402 | €1,552 | +€150 | +10.7% |
| Amounts receivable | 283 | €5,061,359 | €9,319,532 | +€4.3m | +84.1% |
| Other financial fixed assets | 284/8 | €183 | €183 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €183 | €183 | = | 0.0% |
| Current assets | 29/58 | €15,445,638 | €47,154,727 | +€31.7m | +205.3% |
| Amounts receivable after more than one year | 29 | €3,198,348 | €3,770,601 | +€572,253 | +17.9% |
| Other amounts receivable | 291 | €3,198,348 | €3,770,601 | +€572,253 | +17.9% |
| Stocks and contracts in progress | 3 | €2,688,011 | €4,246,245 | +€1.6m | +58.0% |
| Contracts in progress | 37 | €2,688,011 | €4,246,245 | +€1.6m | +58.0% |
| Amounts receivable within one year | 40/41 | €3,716,865 | €32,564,108 | +€28.8m | +776.1% |
| Trade receivables | 40 | €3,713,378 | €29,801,868 | +€26.1m | +702.6% |
| Other amounts receivable | 41 | €3,487 | €2,762,240 | +€2.8m | +79106.1% |
| Cash at bank and in hand | 54/58 | €1,666,687 | €956,032 | -€710,655 | -42.6% |
| Deferred charges and accrued income | 490/1 | €4,175,727 | €5,617,741 | +€1.4m | +34.5% |
| Total equity and liabilities | 10/49 | €57,673,236 | €114,014,341 | +€56.3m | +97.7% |
| Equity | 10/15 | €27,822,222 | €40,612,895 | +€12.8m | +46.0% |
| Contributions | 10/11 | €1,961,467 | €1,961,467 | = | 0.0% |
| Capital | 10 | €1,961,467 | €1,961,467 | = | 0.0% |
| Issued capital | 100 | €1,961,467 | €1,961,467 | = | 0.0% |
| Revaluation surpluses | 12 | - | €12,800,000 | +€12.8m | |
| Reserves | 13 | €196,147 | €196,147 | = | 0.0% |
| Non-distributable reserves | 130/1 | €196,147 | €196,147 | = | 0.0% |
| Legal reserve | 130 | €196,147 | €196,147 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,664,608 | €25,655,281 | -€9,327 | 0.0% |
| Provisions and deferred taxes | 16 | - | €6,186,098 | +€6.2m | |
| Provisions for liabilities and charges | 160/5 | - | €6,186,098 | +€6.2m | |
| Other liabilities and charges | 164/5 | - | €6,186,098 | +€6.2m | |
| Amounts payable | 17/49 | €29,851,014 | €67,215,349 | +€37.4m | +125.2% |
| Amounts payable after more than one year | 17 | €18,452,111 | €0 | -€18.5m | -100.0% |
| Financial debts | 170/4 | €18,204,769 | €0 | -€18.2m | -100.0% |
| Subordinated loans | 170 | €18,204,769 | €0 | -€18.2m | -100.0% |
| Other amounts payable | 178/9 | €247,341 | €0 | -€247,341 | -100.0% |
| Amounts payable within one year | 42/48 | €11,267,411 | €63,782,033 | +€52.5m | +466.1% |
| Current portion of amounts payable after more than one year | 42 | - | €53,420,166 | +€53.4m | |
| Financial debts | 43 | €7,000,000 | €7,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €7,000,000 | €7,000,000 | = | 0.0% |
| Trade debts | 44 | €2,122,777 | €1,666,072 | -€456,705 | -21.5% |
| Suppliers | 440/4 | €2,122,777 | €1,666,072 | -€456,705 | -21.5% |
| Taxes, remuneration and social security | 45 | €1,842,094 | €1,694,565 | -€147,529 | -8.0% |
| Taxes | 450/3 | €334,898 | €481,416 | +€146,518 | +43.7% |
| Remuneration and social security | 454/9 | €1,507,196 | €1,213,149 | -€294,046 | -19.5% |
| Other amounts payable | 47/48 | €302,539 | €1,230 | -€301,309 | -99.6% |
| Accrued charges and deferred income | 492/3 | €131,493 | €3,433,316 | +€3.3m | +2511.0% |
| Operating income | 70/76A | €8,102,653 | €33,804,666 | +€25.7m | +317.2% |
| Turnover | 70 | €4,056,640 | €31,407,476 | +€27.4m | +674.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €2,688,011 | €1,558,234 | -€1.1m | -42.0% |
| Other operating income | 74 | €705,019 | €834,540 | +€129,521 | +18.4% |
| Non-recurring operating income | 76A | €652,982 | €4,416 | -€648,566 | -99.3% |
| Operating charges | 60/66A | €15,559,021 | €23,728,776 | +€8.2m | +52.5% |
| Goods for resale, raw materials and consumables | 60 | €54,119 | €20,296 | -€33,823 | -62.5% |
| Purchases | 600/8 | €54,119 | €20,296 | -€33,823 | -62.5% |
| Change in stocks: decrease (increase) | 609 | €0 | - | = | |
| Services and other goods | 61 | €6,108,391 | €7,105,446 | +€997,055 | +16.3% |
| Remuneration, social security and pensions | 62 | €8,700,696 | €9,626,198 | +€925,502 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €272,399 | €258,718 | -€13,681 | -5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €420,752 | €517,650 | +€96,899 | +23.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €6,186,098 | +€6.2m | |
| Other operating charges | 640/8 | €2,664 | €14,370 | +€11,706 | +439.3% |
| Operating profit (loss) | 9901 | -€7,456,368 | €10,075,890 | +€17.5m | |
| Financial income | 75/76B | €1,829,988 | €2,746,403 | +€916,415 | +50.1% |
| Recurring financial income | 75 | €1,829,988 | €2,746,403 | +€916,415 | +50.1% |
| Income from financial fixed assets | 750 | €1,824,897 | €2,730,481 | +€905,585 | +49.6% |
| Income from current assets | 751 | €0 | €4,597 | +€4,597 | |
| Other financial income | 752/9 | €5,092 | €11,325 | +€6,233 | +122.4% |
| Financial charges | 65/66B | €3,072,328 | €12,470,362 | +€9.4m | +305.9% |
| Recurring financial charges | 65 | €1,503,392 | €5,200,156 | +€3.7m | +245.9% |
| Debt charges | 650 | €742,580 | €4,073,969 | +€3.3m | +448.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €539,354 | €1,081,926 | +€542,571 | +100.6% |
| Other financial charges | 652/9 | €221,458 | €44,262 | -€177,196 | -80.0% |
| Non-recurring financial charges | 66B | €1,568,937 | €7,270,206 | +€5.7m | +363.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,698,708 | €351,932 | +€9.1m | |
| Income taxes | 67/77 | €12,400 | €361,259 | +€348,859 | +2813.4% |
| Taxes | 670/3 | €12,400 | €361,259 | +€348,859 | +2813.4% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€8,711,108 | -€9,327 | +€8.7m | +99.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,711,108 | -€9,327 | +€8.7m | +99.9% |
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 1 October 2026 via checked.be.