diff --git a/packages/svelte/src/compiler/phases/2-analyze/index.js b/packages/svelte/src/compiler/phases/2-analyze/index.js
index 540a1b9912..a278c89272 100644
--- a/packages/svelte/src/compiler/phases/2-analyze/index.js
+++ b/packages/svelte/src/compiler/phases/2-analyze/index.js
@@ -432,7 +432,7 @@ export function analyze_component(root, options) {
 					}
 
 					warn(warnings, binding.node, [], 'non-state-reference', name);
-					break outer;
+					continue outer;
 				}
 			}
 		}
diff --git a/packages/svelte/tests/validator/samples/runes-referenced-nonstate/input.svelte b/packages/svelte/tests/validator/samples/runes-referenced-nonstate/input.svelte
index 279cce7109..fd9d6c3173 100644
--- a/packages/svelte/tests/validator/samples/runes-referenced-nonstate/input.svelte
+++ b/packages/svelte/tests/validator/samples/runes-referenced-nonstate/input.svelte
@@ -1,8 +1,10 @@
 <script>
 	let a = $state(1);
 	let b = 2;
+	let c = 3;
 </script>
 
 <button onclick={() => a += 1}>a += 1</button>
 <button onclick={() => b += 1}>b += 1</button>
-<p>{a} + {b} = {a + b}</p>
+<button onclick={() => c += 1}>c += 1</button>
+<p>{a} + {b} + {c} = {a + b + c}</p>
diff --git a/packages/svelte/tests/validator/samples/runes-referenced-nonstate/warnings.json b/packages/svelte/tests/validator/samples/runes-referenced-nonstate/warnings.json
index e42a8d8782..7e251a4e70 100644
--- a/packages/svelte/tests/validator/samples/runes-referenced-nonstate/warnings.json
+++ b/packages/svelte/tests/validator/samples/runes-referenced-nonstate/warnings.json
@@ -10,5 +10,17 @@
 			"column": 6,
 			"line": 3
 		}
+	},
+	{
+		"code": "non-state-reference",
+		"message": "c is updated, but is not declared with $state(...). Changing its value will not correctly trigger updates.",
+		"start": {
+			"column": 5,
+			"line": 4
+		},
+		"end": {
+			"column": 6,
+			"line": 4
+		}
 	}
 ]