ECO-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.
ECO-STAR
Largest movements
- Stocks and contracts -€90,554
down €90,554 (-19.1%), from €473,833 to €383,279
- Tangible fixed assets -€25,072
down €25,072 (-16.0%), from €157,077 to €132,004
of which Plant, machinery and equipment: -€17,920
- Cash +€22,319
up €22,319 (+1,197%), from €1,865 to €24,184
mainly Tax, wage and social debts (+€137,149) and Stocks and contracts (+€90,554)
- Receivables within one year -€15,360
down €15,360 (-26.5%), from €57,960 to €42,600
of which Other amounts receivable: -€20,159
- Deferred charges and accrued income +€9,515
up €9,515, from €0 to €9,515
- Trade debts -€186,088
down €186,088 (-30.8%), from €603,832 to €417,744
- Tax, wage and social debts +€137,149
up €137,149 (+107%), from €128,353 to €265,502
of which Remuneration and social security: +€71,855
- Current portion of long-term debt -€46,329
down €46,329 (-76.5%), from €60,531 to €14,202
- Profit (loss) carried forward +€45,315
up €45,315 (+8.3%), from -€544,225 to -€498,910
- Short-term financial debts -€35,000
down €35,000 (-28.0%), from €125,000 to €90,000
- Staff costs -€143,523
down €143,523 (-28.7%), from €500,032 to €356,509
- Gross operating margin +€125,721
up €125,721 (+35.0%), from €358,807 to €484,528
- Financial charges -€4,917
down €4,917 (-14.1%), from €34,842 to €29,926
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 | €730,011 | €630,857 | -€99,154 | -13.6% |
| Fixed assets | 21/28 | €165,198 | €140,126 | -€25,072 | -15.2% |
| Tangible fixed assets | 22/27 | €157,077 | €132,004 | -€25,072 | -16.0% |
| Plant, machinery and equipment | 23 | €140,275 | €122,355 | -€17,920 | -12.8% |
| Furniture and vehicles | 24 | €11,324 | €6,438 | -€4,886 | -43.1% |
| Other tangible fixed assets | 26 | €5,478 | €3,211 | -€2,267 | -41.4% |
| Financial fixed assets | 28 | €8,122 | €8,122 | = | 0.0% |
| Current assets | 29/58 | €564,813 | €490,732 | -€74,081 | -13.1% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €473,833 | €383,279 | -€90,554 | -19.1% |
| Stocks | 30/36 | €473,833 | €383,279 | -€90,554 | -19.1% |
| Amounts receivable within one year | 40/41 | €57,960 | €42,600 | -€15,360 | -26.5% |
| Trade receivables | 40 | €37,802 | €42,600 | +€4,798 | +12.7% |
| Other amounts receivable | 41 | €20,159 | €0 | -€20,159 | -100% |
| Current investments | 50/53 | €6,154 | €6,154 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,865 | €24,184 | +€22,319 | +1,197% |
| Deferred charges and accrued income | 490/1 | €0 | €9,515 | +€9,515 | |
| Total equity and liabilities | 10/49 | €730,011 | €630,857 | -€99,154 | -13.6% |
| Equity | 10/15 | -€214,273 | -€168,958 | +€45,315 | +21.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €323,752 | €323,752 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €321,892 | €321,892 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€544,225 | -€498,910 | +€45,315 | +8.3% |
| Amounts payable | 17/49 | €944,284 | €799,815 | -€144,469 | -15.3% |
| Amounts payable after more than one year | 17 | €26,565 | €12,364 | -€14,202 | -53.5% |
| Financial debts | 170/4 | €26,565 | €12,364 | -€14,202 | -53.5% |
| Amounts payable within one year | 42/48 | €917,719 | €787,451 | -€130,267 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €60,531 | €14,202 | -€46,329 | -76.5% |
| Financial debts | 43 | €125,000 | €90,000 | -€35,000 | -28.0% |
| Credit institutions | 430/8 | €125,000 | €90,000 | -€35,000 | -28.0% |
| Trade debts | 44 | €603,832 | €417,744 | -€186,088 | -30.8% |
| Suppliers | 440/4 | €603,832 | €417,744 | -€186,088 | -30.8% |
| Taxes, remuneration and social security | 45 | €128,353 | €265,502 | +€137,149 | +107% |
| Taxes | 450/3 | €105,060 | €170,354 | +€65,294 | +62.1% |
| Remuneration and social security | 454/9 | €23,293 | €95,148 | +€71,855 | +308% |
| Other amounts payable | 47/48 | €3 | €3 | = | 0.0% |
| Non-recurring operating income | 76A | €1,552 | €2,800 | +€1,248 | +80.4% |
| Remuneration, social security and pensions | 62 | €500,032 | €356,509 | -€143,523 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,213 | €25,072 | -€2,141 | -7.9% |
| Other operating charges | 640/8 | €26,680 | €26,833 | +€153 | +0.6% |
| Non-recurring operating charges | 66A | €0 | €500 | +€500 | |
| Gross operating margin | 9900 | €358,807 | €484,528 | +€125,721 | +35.0% |
| Operating profit (loss) | 9901 | -€195,118 | €75,613 | +€270,731 | |
| Financial income | 75/76B | €729 | €489 | -€240 | -33.0% |
| Recurring financial income | 75 | €729 | €489 | -€240 | -33.0% |
| Financial charges | 65/66B | €34,842 | €29,926 | -€4,917 | -14.1% |
| Recurring financial charges | 65 | €34,842 | €29,926 | -€4,917 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | -€229,231 | €46,176 | +€275,407 | |
| Income taxes | 67/77 | €1,124 | €861 | -€264 | -23.4% |
| Profit (loss) for the period | 9904 | -€230,355 | €45,315 | +€275,671 | |
| Profit (loss) for the period to be appropriated | 9905 | -€230,355 | €45,315 | +€275,671 |
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 13 October 2026 via checked.be.