BLUE - STAR: 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.
BLUE - STAR
Largest movements
- Receivables within one year -€9,681
down €9,681 (-10.9%), from €88,509 to €78,828
of which Trade receivables: -€5,360
- Tangible fixed assets +€4,312
up €4,312 (+226.4%), from €1,904 to €6,216
of which Furniture and vehicles: +€5,098
- Trade debts -€10,238
down €10,238 (-88.1%), from €11,617 to €1,380
- Tax, wage and social debts -€7,828
down €7,828 (-83.2%), from €9,410 to €1,583
- Other debts +€7,143
new in 2025: €7,143
- Profit (loss) carried forward +€7,133
up €7,133 (+12.0%), from €59,415 to €66,549
- Reserves -€1,859
down €1,859 (-29.0%), from €6,417 to €4,558
of which Non-distributable reserves: -€1,859
- Turnover +€127,221
new in 2025: €127,221
- Purchases and services +€113,559
new in 2025: €113,559
- Gross operating margin -€6,326
down €6,326 (-28.1%), from €22,503 to €16,177
- Financial income -€1,899
down €1,899 (-96.0%), from €1,979 to €80
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €93,060 | €87,412 | -€5,648 | -6.1% |
| Fixed assets | 21/28 | €1,904 | €6,216 | +€4,312 | +226.4% |
| Tangible fixed assets | 22/27 | €1,904 | €6,216 | +€4,312 | +226.4% |
| Plant, machinery and equipment | 23 | €1,904 | €1,118 | -€786 | -41.3% |
| Furniture and vehicles | 24 | - | €5,098 | +€5,098 | |
| Current assets | 29/58 | €91,156 | €81,196 | -€9,960 | -10.9% |
| Amounts receivable within one year | 40/41 | €88,509 | €78,828 | -€9,681 | -10.9% |
| Trade receivables | 40 | €44,639 | €39,279 | -€5,360 | -12.0% |
| Other amounts receivable | 41 | €43,871 | €39,549 | -€4,321 | -9.8% |
| Cash at bank and in hand | 54/58 | €1,899 | €2,368 | +€469 | +24.7% |
| Deferred charges and accrued income | 490/1 | €749 | - | -€749 | |
| Total equity and liabilities | 10/49 | €93,060 | €87,412 | -€5,648 | -6.1% |
| Equity | 10/15 | €72,033 | €77,307 | +€5,274 | +7.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €6,417 | €4,558 | -€1,859 | -29.0% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €4,558 | €4,558 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,415 | €66,549 | +€7,133 | +12.0% |
| Amounts payable | 17/49 | €21,028 | €10,105 | -€10,923 | -51.9% |
| Amounts payable within one year | 42/48 | €21,028 | €10,105 | -€10,923 | -51.9% |
| Trade debts | 44 | €11,617 | €1,380 | -€10,238 | -88.1% |
| Suppliers | 440/4 | €11,617 | €1,380 | -€10,238 | -88.1% |
| Taxes, remuneration and social security | 45 | €9,410 | €1,583 | -€7,828 | -83.2% |
| Taxes | 450/3 | €9,410 | €1,583 | -€7,828 | -83.2% |
| Other amounts payable | 47/48 | - | €7,143 | +€7,143 | |
| Turnover | 70 | - | €127,221 | +€127,221 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €113,559 | +€113,559 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,919 | €2,275 | +€356 | +18.5% |
| Other operating charges | 640/8 | €53 | €241 | +€188 | +354.4% |
| Gross operating margin | 9900 | €22,503 | €16,177 | -€6,326 | -28.1% |
| Operating profit (loss) | 9901 | €20,531 | €13,661 | -€6,870 | -33.5% |
| Financial income | 75/76B | €1,979 | €80 | -€1,899 | -96.0% |
| Recurring financial income | 75 | €1,979 | €80 | -€1,899 | -96.0% |
| Financial charges | 65/66B | €206 | €347 | +€141 | +68.1% |
| Recurring financial charges | 65 | €206 | €347 | +€141 | +68.1% |
| Profit (loss) for the period before taxes | 9903 | €22,304 | €13,394 | -€8,909 | -39.9% |
| Income taxes | 67/77 | €5,012 | €4,021 | -€992 | -19.8% |
| Profit (loss) for the period | 9904 | €17,291 | €9,373 | -€7,918 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,291 | €9,373 | -€7,918 | -45.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.