Standalone financial statements show the financial performance of the listed company on its own, and does not include the financials of its subsidiaries or affiliated businesses.

Consolidated financial statements combine the financials of both the parent company and the subsidiaries, presenting the data as a combined entity. This gives a fuller picture of the performance of the entire business. 

Because consolidated financials incorporate the data of multiple businesses, it is possible for the consolidated financials to differ significantly from standalone - for example, the consolidated numbers may show a profit while the standalone figures show losses because of an outperforming subsidiary company, and vice versa.