Whitestone Asset Management: what changed
Whitestone Asset Management
Largest movements
- Cash -€122,512
down €122,512 (-39.9%), from €306,729 to €184,217
mainly Contributions, distributions and other (-€152,941) and Trade debts (-€23,427)
- Tangible fixed assets -€5,893
down €5,893 (-36.8%), from €16,015 to €10,122
of which Other tangible fixed assets: -€3,000
- Financial fixed assets +€4,000
up €4,000 (+66.7%), from €6,000 to €10,000
- Deferred charges and accrued income -€3,982
down €3,982 (-28.7%), from €13,898 to €9,915
- Profit (loss) carried forward -€95,031
down €95,031 (-28.4%), from €334,726 to €239,695
- Trade debts -€23,427
down €23,427 (-92.4%), from €25,358 to €1,930
- Tax, wage and social debts -€6,299
down €6,299 (-43.2%), from €14,593 to €8,295
- Gross operating margin -€58,396
down €58,396 (-43.2%), from €135,299 to €76,903
- Taxes -€15,519
down €15,519 (-52.6%), from €29,487 to €13,968
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €379,677 | €254,919 | -€124,757 | -32.9% |
| Fixed assets | 21/28 | €22,015 | €20,122 | -€1,893 | -8.6% |
| Tangible fixed assets | 22/27 | €16,015 | €10,122 | -€5,893 | -36.8% |
| Furniture and vehicles | 24 | €5,223 | €2,330 | -€2,893 | -55.4% |
| Other tangible fixed assets | 26 | €10,792 | €7,792 | -€3,000 | -27.8% |
| Financial fixed assets | 28 | €6,000 | €10,000 | +€4,000 | +66.7% |
| Current assets | 29/58 | €357,662 | €234,798 | -€122,864 | -34.4% |
| Amounts receivable within one year | 40/41 | €37,036 | €40,666 | +€3,630 | +9.8% |
| Trade receivables | 40 | €32,821 | €28,125 | -€4,696 | -14.3% |
| Other amounts receivable | 41 | €4,214 | €12,541 | +€8,326 | +198% |
| Cash at bank and in hand | 54/58 | €306,729 | €184,217 | -€122,512 | -39.9% |
| Deferred charges and accrued income | 490/1 | €13,898 | €9,915 | -€3,982 | -28.7% |
| Total equity and liabilities | 10/49 | €379,677 | €254,919 | -€124,757 | -32.9% |
| Equity | 10/15 | €339,726 | €244,695 | -€95,031 | -28.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €334,726 | €239,695 | -€95,031 | -28.4% |
| Amounts payable | 17/49 | €39,951 | €10,225 | -€29,726 | -74.4% |
| Amounts payable within one year | 42/48 | €39,951 | €10,225 | -€29,726 | -74.4% |
| Trade debts | 44 | €25,358 | €1,930 | -€23,427 | -92.4% |
| Suppliers | 440/4 | €25,358 | €1,930 | -€23,427 | -92.4% |
| Taxes, remuneration and social security | 45 | €14,593 | €8,295 | -€6,299 | -43.2% |
| Taxes | 450/3 | €14,593 | €8,295 | -€6,299 | -43.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,556 | €5,893 | -€663 | -10.1% |
| Other operating charges | 640/8 | €1,663 | €942 | -€721 | -43.3% |
| Gross operating margin | 9900 | €135,299 | €76,903 | -€58,396 | -43.2% |
| Operating profit (loss) | 9901 | €127,080 | €70,068 | -€57,012 | -44.9% |
| Financial income | 75/76B | €2,971 | €1,929 | -€1,042 | -35.1% |
| Recurring financial income | 75 | €2,971 | €1,929 | -€1,042 | -35.1% |
| Financial charges | 65/66B | €912 | €118 | -€793 | -87.0% |
| Recurring financial charges | 65 | €912 | €118 | -€793 | -87.0% |
| Profit (loss) for the period before taxes | 9903 | €129,139 | €71,878 | -€57,260 | -44.3% |
| Income taxes | 67/77 | €29,487 | €13,968 | -€15,519 | -52.6% |
| Profit (loss) for the period | 9904 | €99,652 | €57,910 | -€41,742 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €99,652 | €57,910 | -€41,742 | -41.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.