THE SPACESHIP OPERATOR: 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.
THE SPACESHIP OPERATOR
Largest movements
- Tangible fixed assets +€36,334
up €36,334 (+895%), from €4,058 to €40,392
of which Furniture and vehicles: +€36,857
- Receivables within one year -€23,664
down €23,664 (-53.5%), from €44,234 to €20,570
of which Trade receivables: -€22,663
- Cash +€5,753
up €5,753 (+3.6%), from €158,289 to €164,042
mainly Other debts (+€68,036) and Net result for the year (+€42,483)
- Deferred charges and accrued income -€2,757
down €2,757 (-54.8%), from €5,026 to €2,269
- Other debts +€68,036
up €68,036 (+308%), from €22,117 to €90,154
- Reserves -€47,669
down €47,669 (-32.1%), from €148,699 to €101,030
of which Distributable reserves: -€47,669
- Trade debts -€3,657
down €3,657 (-92.5%), from €3,955 to €298
- Other operating charges -€17,127
down €17,127 (-97.1%), from €17,647 to €520
- Gross operating margin +€16,447
up €16,447 (+30.9%), from €53,300 to €69,748
- Depreciation +€9,744
up €9,744 (+2,433%), from €401 to €10,145
- Taxes +€5,037
up €5,037 (+41.5%), from €12,149 to €17,186
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 | €211,607 | €227,274 | +€15,667 | +7.4% |
| Fixed assets | 21/28 | €4,058 | €40,392 | +€36,334 | +895% |
| Tangible fixed assets | 22/27 | €4,058 | €40,392 | +€36,334 | +895% |
| Plant, machinery and equipment | 23 | €4,021 | €3,497 | -€523 | -13.0% |
| Furniture and vehicles | 24 | €38 | €36,895 | +€36,857 | +97,790% |
| Current assets | 29/58 | €207,549 | €186,882 | -€20,667 | -10.0% |
| Amounts receivable within one year | 40/41 | €44,234 | €20,570 | -€23,664 | -53.5% |
| Trade receivables | 40 | €43,233 | €20,570 | -€22,663 | -52.4% |
| Other amounts receivable | 41 | €1,001 | - | -€1,001 | |
| Cash at bank and in hand | 54/58 | €158,289 | €164,042 | +€5,753 | +3.6% |
| Deferred charges and accrued income | 490/1 | €5,026 | €2,269 | -€2,757 | -54.8% |
| Total equity and liabilities | 10/49 | €211,607 | €227,274 | +€15,667 | +7.4% |
| Equity | 10/15 | €168,490 | €120,822 | -€47,669 | -28.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €148,699 | €101,030 | -€47,669 | -32.1% |
| Tax-exempt reserves | 132 | €121 | €121 | = | 0.0% |
| Distributable reserves | 133 | €148,578 | €100,909 | -€47,669 | -32.1% |
| Profit (loss) carried forward | 14 | €13,592 | €13,592 | = | 0.0% |
| Amounts payable | 17/49 | €43,117 | €106,452 | +€63,335 | +147% |
| Amounts payable within one year | 42/48 | €42,967 | €106,452 | +€63,485 | +148% |
| Trade debts | 44 | €3,955 | €298 | -€3,657 | -92.5% |
| Suppliers | 440/4 | €3,955 | €298 | -€3,657 | -92.5% |
| Taxes, remuneration and social security | 45 | €16,895 | €16,000 | -€895 | -5.3% |
| Taxes | 450/3 | €16,895 | €16,000 | -€895 | -5.3% |
| Other amounts payable | 47/48 | €22,117 | €90,154 | +€68,036 | +308% |
| Accrued charges and deferred income | 492/3 | €150 | - | -€150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €401 | €10,145 | +€9,744 | +2,433% |
| Other operating charges | 640/8 | €17,647 | €520 | -€17,127 | -97.1% |
| Gross operating margin | 9900 | €53,300 | €69,748 | +€16,447 | +30.9% |
| Operating profit (loss) | 9901 | €35,253 | €59,083 | +€23,830 | +67.6% |
| Financial income | 75/76B | €499 | €667 | +€168 | +33.6% |
| Recurring financial income | 75 | €499 | €667 | +€168 | +33.6% |
| Financial charges | 65/66B | €67 | €81 | +€14 | +21.0% |
| Recurring financial charges | 65 | €67 | €81 | +€14 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €35,685 | €59,669 | +€23,984 | +67.2% |
| Income taxes | 67/77 | €12,149 | €17,186 | +€5,037 | +41.5% |
| Profit (loss) for the period | 9904 | €23,536 | €42,483 | +€18,947 | +80.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,536 | €42,483 | +€18,947 | +80.5% |
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 17 October 2026 via checked.be.