CARE 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.
CARE STAR
Largest movements
- Financial fixed assets +€4.3m
new in 2025: €4.3m
- Tangible fixed assets +€3.8m
up €3.8m (+64.1%), from €5.9m to €9.6m
of which Leasing and similar rights: +€3.0m
- Receivables within one year +€626,655
up €626,655 (+687%), from €91,189 to €717,843
of which Other amounts receivable: +€682,239
- Cash +€416,284
up €416,284 (+1,417%), from €29,376 to €445,660
mainly Contributions, distributions and other (+€4.9m) and Other debts (+€3.1m)
- Profit (loss) carried forward +€3.3m
up €3.3m, from -€123,987 to €3.2m
- Other debts +€3.1m
up €3.1m (+282%), from €1.1m to €4.1m
- Reserves +€887,988
up €887,988 (+14,355%), from €6,186 to €894,174
of which Tax-exempt reserves: +€479,227
- Debts after one year +€788,403
up €788,403 (+18.1%), from €4.4m to €5.1m
- Current portion of long-term debt +€334,530
up €334,530 (+60.7%), from €551,269 to €885,799
- Gross operating margin +€592,294
up €592,294 (+177%), from €334,414 to €926,707
- Depreciation +€493,466
up €493,466 (+132%), from €373,164 to €866,630
- Financial charges +€225,964
up €225,964 (+275%), from €82,251 to €308,215
of which Financial charges: +€212,832
- Financial income +€38,688
up €38,688 (+6,416%), from €603 to €39,291
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 | €5,992,595 | €15,099,094 | +€9.1m | +152% |
| Fixed assets | 21/28 | €5,872,030 | €13,935,590 | +€8.1m | +137% |
| Tangible fixed assets | 22/27 | €5,872,030 | €9,638,276 | +€3.8m | +64.1% |
| Land and buildings | 22 | €5,763,287 | €5,439,130 | -€324,158 | -5.6% |
| Plant, machinery and equipment | 23 | €79,336 | €68,689 | -€10,647 | -13.4% |
| Furniture and vehicles | 24 | €29,407 | €18,064 | -€11,343 | -38.6% |
| Leasing and similar rights | 25 | - | €2,985,549 | +€3.0m | |
| Other tangible fixed assets | 26 | - | €853,467 | +€853,467 | |
| Assets under construction and advance payments | 27 | - | €273,378 | +€273,378 | |
| Financial fixed assets | 28 | - | €4,297,314 | +€4.3m | |
| Current assets | 29/58 | €120,565 | €1,163,503 | +€1.0m | +865% |
| Amounts receivable within one year | 40/41 | €91,189 | €717,843 | +€626,655 | +687% |
| Trade receivables | 40 | €90,224 | €34,639 | -€55,584 | -61.6% |
| Other amounts receivable | 41 | €965 | €683,204 | +€682,239 | +70,697% |
| Cash at bank and in hand | 54/58 | €29,376 | €445,660 | +€416,284 | +1,417% |
| Total equity and liabilities | 10/49 | €5,992,595 | €15,099,094 | +€9.1m | +152% |
| Equity | 10/15 | -€55,946 | €4,614,684 | +€4.7m | |
| Contributions | 10/11 | €61,855 | €232,598 | +€170,743 | +276% |
| Capital | 10 | €61,855 | €167,598 | +€105,743 | +171% |
| Issued capital | 100 | €61,855 | €167,598 | +€105,743 | +171% |
| Contributions outside capital | 11 | - | €65,000 | +€65,000 | |
| Other | 1109/19 | - | €65,000 | +€65,000 | |
| Revaluation surpluses | 12 | - | €130,000 | +€130,000 | |
| Reserves | 13 | €6,186 | €894,174 | +€887,988 | +14,355% |
| Non-distributable reserves | 130/1 | €6,186 | €37,001 | +€30,815 | +498% |
| Legal reserve | 130 | €6,186 | €37,001 | +€30,815 | +498% |
| Tax-exempt reserves | 132 | - | €479,227 | +€479,227 | |
| Distributable reserves | 133 | - | €377,945 | +€377,945 | |
| Profit (loss) carried forward | 14 | -€123,987 | €3,223,302 | +€3.3m | |
| Investment grants | 15 | - | €134,609 | +€134,609 | |
| Provisions and deferred taxes | 16 | - | €129,998 | +€129,998 | |
| Deferred taxes | 168 | - | €129,998 | +€129,998 | |
| Amounts payable | 17/49 | €6,048,541 | €10,354,412 | +€4.3m | +71.2% |
| Amounts payable after more than one year | 17 | €4,353,143 | €5,141,546 | +€788,403 | +18.1% |
| Financial debts | 170/4 | €4,353,143 | €5,141,546 | +€788,403 | +18.1% |
| Amounts payable within one year | 42/48 | €1,695,398 | €5,181,366 | +€3.5m | +206% |
| Current portion of amounts payable after more than one year | 42 | €551,269 | €885,799 | +€334,530 | +60.7% |
| Financial debts | 43 | €50,228 | - | -€50,228 | |
| Credit institutions | 430/8 | €50,228 | - | -€50,228 | |
| Trade debts | 44 | €9,910 | €128,378 | +€118,468 | +1,195% |
| Suppliers | 440/4 | €9,910 | €128,378 | +€118,468 | +1,195% |
| Taxes, remuneration and social security | 45 | - | €21,401 | +€21,401 | |
| Taxes | 450/3 | - | €21,401 | +€21,401 | |
| Other amounts payable | 47/48 | €1,083,991 | €4,145,788 | +€3.1m | +282% |
| Accrued charges and deferred income | 492/3 | - | €31,500 | +€31,500 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €373,164 | €866,630 | +€493,466 | +132% |
| Other operating charges | 640/8 | €9,072 | €3,316 | -€5,756 | -63.4% |
| Gross operating margin | 9900 | €334,414 | €926,707 | +€592,294 | +177% |
| Operating profit (loss) | 9901 | -€47,823 | €56,761 | +€104,584 | |
| Financial income | 75/76B | €603 | €39,291 | +€38,688 | +6,416% |
| Recurring financial income | 75 | €603 | €39,291 | +€38,688 | +6,416% |
| Financial charges | 65/66B | €82,251 | €308,215 | +€225,964 | +275% |
| Recurring financial charges | 65 | €82,251 | €295,083 | +€212,832 | +259% |
| Non-recurring financial charges | 66B | - | €13,132 | +€13,132 | |
| Profit (loss) for the period before taxes | 9903 | -€129,471 | -€212,162 | -€82,691 | -63.9% |
| Transfer from deferred taxes | 780 | - | €13,842 | +€13,842 | |
| Income taxes | 67/77 | - | -€725 | -€725 | |
| Profit (loss) for the period | 9904 | -€129,471 | -€197,595 | -€68,124 | -52.6% |
| Transfer from tax-exempt reserves | 789 | - | €209,926 | +€209,926 | |
| Profit (loss) for the period to be appropriated | 9905 | -€129,471 | €12,331 | +€141,802 |
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 14 October 2026 via checked.be.