5-STARS: 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.
5-STARS
Largest movements
- Cash -€259,769
down €259,769 (-50.8%), from €510,910 to €251,141
mainly Other debts (-€287,025) and Receivables within one year (-€20)
- Tangible fixed assets -€10,800
down €10,800 (-4.0%), from €267,206 to €256,406
- Other debts -€287,025
down €287,025 (-68.2%), from €421,094 to €134,069
- Reserves +€12,948
up €12,948 (+3.9%), from €334,589 to €347,537
- Depreciation -€5,010
down €5,010 (-31.7%), from €15,810 to €10,800
- Other operating charges +€3,751
up €3,751 (+274%), from €1,369 to €5,120
- Gross operating margin +€1,009
up €1,009 (+3.2%), from €31,765 to €32,775
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 | €778,115 | €507,567 | -€270,549 | -34.8% |
| Fixed assets | 21/28 | €267,206 | €256,406 | -€10,800 | -4.0% |
| Tangible fixed assets | 22/27 | €267,206 | €256,406 | -€10,800 | -4.0% |
| Land and buildings | 22 | €267,206 | €256,406 | -€10,800 | -4.0% |
| Current assets | 29/58 | €510,910 | €251,161 | -€259,749 | -50.8% |
| Amounts receivable within one year | 40/41 | - | €20 | +€20 | |
| Trade receivables | 40 | - | €20 | +€20 | |
| Cash at bank and in hand | 54/58 | €510,910 | €251,141 | -€259,769 | -50.8% |
| Total equity and liabilities | 10/49 | €778,115 | €507,567 | -€270,549 | -34.8% |
| Equity | 10/15 | €353,181 | €366,129 | +€12,948 | +3.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €334,589 | €347,537 | +€12,948 | +3.9% |
| Distributable reserves | 133 | €334,589 | €347,537 | +€12,948 | +3.9% |
| Amounts payable | 17/49 | €424,934 | €141,438 | -€283,496 | -66.7% |
| Amounts payable within one year | 42/48 | €424,934 | €141,438 | -€283,496 | -66.7% |
| Taxes, remuneration and social security | 45 | €3,840 | €7,369 | +€3,529 | +91.9% |
| Taxes | 450/3 | €3,840 | €7,369 | +€3,529 | +91.9% |
| Other amounts payable | 47/48 | €421,094 | €134,069 | -€287,025 | -68.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,810 | €10,800 | -€5,010 | -31.7% |
| Other operating charges | 640/8 | €1,369 | €5,120 | +€3,751 | +274% |
| Gross operating margin | 9900 | €31,765 | €32,775 | +€1,009 | +3.2% |
| Operating profit (loss) | 9901 | €14,586 | €16,854 | +€2,269 | +15.6% |
| Financial charges | 65/66B | €496 | €378 | -€118 | -23.8% |
| Recurring financial charges | 65 | €496 | €378 | -€118 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €14,090 | €16,477 | +€2,387 | +16.9% |
| Income taxes | 67/77 | €3,840 | €3,529 | -€310 | -8.1% |
| Profit (loss) for the period | 9904 | €10,251 | €12,948 | +€2,697 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,251 | €12,948 | +€2,697 | +26.3% |
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 18 October 2026 via checked.be.