C 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.
C STAR
Largest movements
- Cash -€17,280
down €17,280 (-96.1%), from €17,983 to €703
mainly Trade debts (-€31,150) and Tax, wage and social debts (-€5,164)
- Receivables within one year -€14,380
down €14,380 (-53.6%), from €26,807 to €12,427
of which Trade receivables: -€8,479
- Financial fixed assets -€4,250
no longer reported in 2025 (was €4,250)
- Trade debts -€31,150
down €31,150 (-85.9%), from €36,280 to €5,130
- Tax, wage and social debts -€5,164
down €5,164 (-93.5%), from €5,522 to €358
- Financial income +€18,759
up €18,759 (+46,897,525%), from €0 to €18,759
of which Non-recurring financial income: +€18,759
- Gross operating margin -€7,903
down €7,903, from €2,825 to -€5,078
- Depreciation +€267
up €267 (+193%), from €138 to €405
- Financial charges +€177
up €177 (+343%), from €52 to €228
- Other operating charges -€109
down €109 (-10.9%), from €999 to €889
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 | €50,926 | €14,612 | -€36,315 | -71.3% |
| Fixed assets | 21/28 | €6,137 | €1,482 | -€4,655 | -75.9% |
| Tangible fixed assets | 22/27 | €1,887 | €1,482 | -€405 | -21.5% |
| Furniture and vehicles | 24 | €1,887 | €1,482 | -€405 | -21.5% |
| Financial fixed assets | 28 | €4,250 | - | -€4,250 | |
| Current assets | 29/58 | €44,790 | €13,130 | -€31,660 | -70.7% |
| Amounts receivable within one year | 40/41 | €26,807 | €12,427 | -€14,380 | -53.6% |
| Trade receivables | 40 | €20,906 | €12,427 | -€8,479 | -40.6% |
| Other amounts receivable | 41 | €5,901 | - | -€5,901 | |
| Cash at bank and in hand | 54/58 | €17,983 | €703 | -€17,280 | -96.1% |
| Total equity and liabilities | 10/49 | €50,926 | €14,612 | -€36,315 | -71.3% |
| Equity | 10/15 | €9,032 | €9,071 | +€39 | +0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €891 | €891 | = | 0.0% |
| Non-distributable reserves | 130/1 | €891 | €891 | = | 0.0% |
| Reserves not available under the articles | 1311 | €891 | €891 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,459 | -€10,420 | +€39 | +0.4% |
| Amounts payable | 17/49 | €41,894 | €5,540 | -€36,354 | -86.8% |
| Amounts payable within one year | 42/48 | €41,894 | €5,540 | -€36,354 | -86.8% |
| Trade debts | 44 | €36,280 | €5,130 | -€31,150 | -85.9% |
| Suppliers | 440/4 | €36,280 | €5,130 | -€31,150 | -85.9% |
| Taxes, remuneration and social security | 45 | €5,522 | €358 | -€5,164 | -93.5% |
| Taxes | 450/3 | €5,522 | €358 | -€5,164 | -93.5% |
| Other amounts payable | 47/48 | €92 | €52 | -€40 | -43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138 | €405 | +€267 | +193% |
| Other operating charges | 640/8 | €999 | €889 | -€109 | -10.9% |
| Non-recurring operating charges | 66A | - | €12,119 | +€12,119 | |
| Gross operating margin | 9900 | €2,825 | -€5,078 | -€7,903 | |
| Operating profit (loss) | 9901 | €1,688 | -€18,492 | -€20,180 | |
| Financial income | 75/76B | €0 | €18,759 | +€18,759 | +46,897,525% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -75.0% |
| Non-recurring financial income | 76B | - | €18,759 | +€18,759 | |
| Financial charges | 65/66B | €52 | €228 | +€177 | +343% |
| Recurring financial charges | 65 | €52 | €228 | +€177 | +343% |
| Profit (loss) for the period before taxes | 9903 | €1,637 | €39 | -€1,598 | -97.6% |
| Profit (loss) for the period | 9904 | €1,637 | €39 | -€1,598 | -97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,637 | €39 | -€1,598 | -97.6% |
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 30 October 2026 via checked.be.