YPSTAR: 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.
YPSTAR
Largest movements
- Stocks and contracts +€1.2m
new in 2025: €1.2m
- Tangible fixed assets -€367,072
down €367,072 (-22.4%), from €1.6m to €1.3m
of which Assets under construction and advance payments: -€322,327
- Receivables within one year +€82,900
up €82,900 (+229%), from €36,165 to €119,065
- Cash +€59,929
up €59,929 (+161%), from €37,122 to €97,051
mainly Short-term financial debts (+€839,832) and Debts after one year (+€500,000)
- Short-term financial debts +€839,832
new in 2025: €839,832
- Debts after one year +€500,000
up €500,000 (+66.7%), from €750,000 to €1.3m
- Profit (loss) carried forward -€187,441
down €187,441 (-66.7%), from -€281,138 to -€468,579
- Trade debts -€186,647
down €186,647 (-86.2%), from €216,506 to €29,859
- Financial income -€25,294
down €25,294 (-71.7%), from €35,294 to €10,000
- Financial charges -€23,636
down €23,636 (-54.1%), from €43,689 to €20,053
- Gross operating margin -€15,150
down €15,150 (-13.6%), from -€111,073 to -€126,223
- Other operating charges -€10,717
down €10,717 (-63.7%), from €16,818 to €6,101
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 | €1,924,258 | €2,903,370 | +€979,112 | +50.9% |
| Fixed assets | 21/28 | €1,644,604 | €1,277,532 | -€367,072 | -22.3% |
| Tangible fixed assets | 22/27 | €1,642,204 | €1,275,132 | -€367,072 | -22.4% |
| Land and buildings | 22 | €1,304,255 | €1,262,731 | -€41,524 | -3.2% |
| Plant, machinery and equipment | 23 | €9,463 | €8,088 | -€1,375 | -14.5% |
| Furniture and vehicles | 24 | €6,159 | €4,313 | -€1,846 | -30.0% |
| Assets under construction and advance payments | 27 | €322,327 | €0 | -€322,327 | -100% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €279,654 | €1,625,838 | +€1.3m | +481% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €1,201,521 | +€1.2m | |
| Stocks | 30/36 | - | €1,201,521 | +€1.2m | |
| Amounts receivable within one year | 40/41 | €36,165 | €119,065 | +€82,900 | +229% |
| Other amounts receivable | 41 | €36,165 | €119,065 | +€82,900 | +229% |
| Cash at bank and in hand | 54/58 | €37,122 | €97,051 | +€59,929 | +161% |
| Deferred charges and accrued income | 490/1 | €6,366 | €8,201 | +€1,835 | +28.8% |
| Total equity and liabilities | 10/49 | €1,924,258 | €2,903,370 | +€979,112 | +50.9% |
| Equity | 10/15 | €783,942 | €596,500 | -€187,441 | -23.9% |
| Contributions | 10/11 | €1,065,079 | €1,065,079 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€281,138 | -€468,579 | -€187,441 | -66.7% |
| Amounts payable | 17/49 | €1,140,316 | €2,306,869 | +€1.2m | +102% |
| Amounts payable after more than one year | 17 | €750,000 | €1,250,000 | +€500,000 | +66.7% |
| Other amounts payable | 178/9 | €750,000 | €1,250,000 | +€500,000 | +66.7% |
| Amounts payable within one year | 42/48 | €390,316 | €1,056,869 | +€666,553 | +171% |
| Financial debts | 43 | - | €839,832 | +€839,832 | |
| Credit institutions | 430/8 | - | €839,832 | +€839,832 | |
| Trade debts | 44 | €216,506 | €29,859 | -€186,647 | -86.2% |
| Suppliers | 440/4 | €216,506 | €29,859 | -€186,647 | -86.2% |
| Taxes, remuneration and social security | 45 | €8,081 | €30,225 | +€22,145 | +274% |
| Taxes | 450/3 | €8,081 | €30,225 | +€22,145 | +274% |
| Other amounts payable | 47/48 | €165,730 | €156,953 | -€8,777 | -5.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,710 | €44,745 | +€35 | +0.1% |
| Other operating charges | 640/8 | €16,818 | €6,101 | -€10,717 | -63.7% |
| Gross operating margin | 9900 | -€111,073 | -€126,223 | -€15,150 | -13.6% |
| Operating profit (loss) | 9901 | -€172,601 | -€177,069 | -€4,468 | -2.6% |
| Financial income | 75/76B | €35,294 | €10,000 | -€25,294 | -71.7% |
| Recurring financial income | 75 | €35,294 | €10,000 | -€25,294 | -71.7% |
| Financial charges | 65/66B | €43,689 | €20,053 | -€23,636 | -54.1% |
| Recurring financial charges | 65 | €43,689 | €20,053 | -€23,636 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | -€180,997 | -€187,122 | -€6,126 | -3.4% |
| Income taxes | 67/77 | €259 | €319 | +€60 | +23.3% |
| Profit (loss) for the period | 9904 | -€181,255 | -€187,441 | -€6,186 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€181,255 | -€187,441 | -€6,186 | -3.4% |
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 30 October 2026 via checked.be.