BEL STAR: what changed
Two fiscal 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.
BEL STAR
Largest movements
- Receivables within one year +€4,328
up €4,328 (+7.9%), from €54,537 to €58,865
of which Trade receivables: +€4,028
- Cash -€3,471
down €3,471 (-62.3%), from €5,571 to €2,100
mainly Trade debts (-€6,132) and Receivables within one year (-€4,328)
- Trade debts -€6,132
down €6,132 (-42.3%), from €14,504 to €8,372
- Tax, wage and social debts +€4,904
up €4,904 (+55.4%), from €8,850 to €13,755
of which Remuneration and social security: +€5,500
- Profit (loss) carried forward +€2,085
up €2,085 (+5.0%), from €41,391 to €43,476
- Turnover +€135,922
new in 2025: €135,922
- Purchases and services +€119,542
new in 2025: €119,542
- Gross operating margin +€12,344
up €12,344 (+305.8%), from €4,036 to €16,380
- Taxes +€7,426
up €7,426 (+202.5%), from €3,666 to €11,092
- Other operating charges +€4,170
up €4,170 (+4251.4%), from €98 to €4,268
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.
Cash bridge derived
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 | €66,746 | €67,603 | +€857 | +1.3% |
| Fixed assets | 21/28 | €6,638 | €6,638 | = | 0.0% |
| Tangible fixed assets | 22/27 | €4,138 | €4,138 | = | 0.0% |
| Furniture and vehicles | 24 | €4,138 | €4,138 | = | 0.0% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €60,108 | €60,965 | +€857 | +1.4% |
| Amounts receivable within one year | 40/41 | €54,537 | €58,865 | +€4,328 | +7.9% |
| Trade receivables | 40 | €4,094 | €8,121 | +€4,028 | +98.4% |
| Other amounts receivable | 41 | €50,443 | €50,744 | +€301 | +0.6% |
| Cash at bank and in hand | 54/58 | €5,571 | €2,100 | -€3,471 | -62.3% |
| Total equity and liabilities | 10/49 | €66,746 | €67,603 | +€857 | +1.3% |
| Equity | 10/15 | €43,391 | €45,476 | +€2,085 | +4.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,391 | €43,476 | +€2,085 | +5.0% |
| Amounts payable | 17/49 | €23,355 | €22,127 | -€1,227 | -5.3% |
| Amounts payable within one year | 42/48 | €23,355 | €22,127 | -€1,227 | -5.3% |
| Trade debts | 44 | €14,504 | €8,372 | -€6,132 | -42.3% |
| Suppliers | 440/4 | €14,504 | €8,372 | -€6,132 | -42.3% |
| Taxes, remuneration and social security | 45 | €8,850 | €13,755 | +€4,904 | +55.4% |
| Taxes | 450/3 | €6,850 | €6,255 | -€596 | -8.7% |
| Remuneration and social security | 454/9 | €2,000 | €7,500 | +€5,500 | +275.0% |
| Turnover | 70 | - | €135,922 | +€135,922 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €119,542 | +€119,542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283 | - | -€283 | |
| Other operating charges | 640/8 | €98 | €4,268 | +€4,170 | +4251.4% |
| Gross operating margin | 9900 | €4,036 | €16,380 | +€12,344 | +305.8% |
| Operating profit (loss) | 9901 | €3,655 | €12,112 | +€8,457 | +231.4% |
| Financial income | 75/76B | €1,365 | €1,017 | -€347 | -25.5% |
| Recurring financial income | 75 | €1,065 | €1,017 | -€47 | -4.5% |
| Non-recurring financial income | 76B | €300 | - | -€300 | |
| Financial charges | 65/66B | €275 | €179 | -€97 | -35.2% |
| Recurring financial charges | 65 | €275 | €179 | -€97 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €4,744 | €12,951 | +€8,207 | +173.0% |
| Income taxes | 67/77 | €3,666 | €11,092 | +€7,426 | +202.5% |
| Profit (loss) for the period | 9904 | €1,078 | €1,859 | +€781 | +72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,078 | €1,859 | +€781 | +72.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.