G-STARCK: 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.
G-STARCK
Largest movements
- Receivables after one year +€68,769
up €68,769 (+196%), from €35,000 to €103,769
- Receivables within one year -€68,680
no longer reported in 2025 (was €68,680)
- Financial fixed assets -€29,345
down €29,345 (-29.3%), from €100,050 to €70,705
- Tangible fixed assets -€10,608
down €10,608 (-27.6%), from €38,440 to €27,832
of which Furniture and vehicles: -€6,018
- Deferred charges and accrued income -€3,906
no longer reported in 2025 (was €3,906)
- Other debts -€56,369
no longer reported in 2025 (was €56,369)
- Debts after one year -€31,308
down €31,308 (-32.4%), from €96,623 to €65,315
- Tax, wage and social debts +€17,545
up €17,545 (+93.5%), from €18,761 to €36,306
- Current portion of long-term debt +€12,304
up €12,304 (+136%), from €9,072 to €21,376
- Trade debts +€5,401
up €5,401 (+38.8%), from €13,926 to €19,327
- Gross operating margin +€24,284
up €24,284 (+51.5%), from €47,122 to €71,406
- Financial charges +€22,404
up €22,404 (+392%), from €5,718 to €28,121
- Depreciation +€8,942
up €8,942 (+223%), from €4,008 to €12,951
- Taxes -€2,559
down €2,559 (-51.2%), from €4,999 to €2,439
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 | €246,771 | €202,850 | -€43,921 | -17.8% |
| Fixed assets | 21/28 | €138,490 | €98,537 | -€39,953 | -28.8% |
| Tangible fixed assets | 22/27 | €38,440 | €27,832 | -€10,608 | -27.6% |
| Plant, machinery and equipment | 23 | €19,346 | €14,756 | -€4,590 | -23.7% |
| Furniture and vehicles | 24 | €19,094 | €13,076 | -€6,018 | -31.5% |
| Financial fixed assets | 28 | €100,050 | €70,705 | -€29,345 | -29.3% |
| Current assets | 29/58 | €108,281 | €104,313 | -€3,968 | -3.7% |
| Amounts receivable after more than one year | 29 | €35,000 | €103,769 | +€68,769 | +196% |
| Other amounts receivable | 291 | €35,000 | €103,769 | +€68,769 | +196% |
| Amounts receivable within one year | 40/41 | €68,680 | - | -€68,680 | |
| Trade receivables | 40 | €68,680 | - | -€68,680 | |
| Cash at bank and in hand | 54/58 | €695 | €544 | -€151 | -21.8% |
| Deferred charges and accrued income | 490/1 | €3,906 | - | -€3,906 | |
| Total equity and liabilities | 10/49 | €246,771 | €202,850 | -€43,921 | -17.8% |
| Equity | 10/15 | €52,020 | €55,526 | +€3,506 | +6.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,820 | €53,326 | +€3,506 | +7.0% |
| Amounts payable | 17/49 | €194,751 | €147,324 | -€47,427 | -24.4% |
| Amounts payable after more than one year | 17 | €96,623 | €65,315 | -€31,308 | -32.4% |
| Financial debts | 170/4 | €96,623 | €65,315 | -€31,308 | -32.4% |
| Amounts payable within one year | 42/48 | €98,128 | €82,008 | -€16,120 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €9,072 | €21,376 | +€12,304 | +136% |
| Financial debts | 43 | - | €5,000 | +€5,000 | |
| Credit institutions | 430/8 | - | €5,000 | +€5,000 | |
| Trade debts | 44 | €13,926 | €19,327 | +€5,401 | +38.8% |
| Suppliers | 440/4 | €13,926 | €19,327 | +€5,401 | +38.8% |
| Taxes, remuneration and social security | 45 | €18,761 | €36,306 | +€17,545 | +93.5% |
| Taxes | 450/3 | €18,761 | €36,306 | +€17,545 | +93.5% |
| Other amounts payable | 47/48 | €56,369 | - | -€56,369 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,008 | €12,951 | +€8,942 | +223% |
| Other operating charges | 640/8 | €875 | €719 | -€156 | -17.9% |
| Gross operating margin | 9900 | €47,122 | €71,406 | +€24,284 | +51.5% |
| Operating profit (loss) | 9901 | €42,238 | €57,736 | +€15,498 | +36.7% |
| Financial income | 75/76B | - | €331 | +€331 | |
| Recurring financial income | 75 | - | €331 | +€331 | |
| Financial charges | 65/66B | €5,718 | €28,121 | +€22,404 | +392% |
| Recurring financial charges | 65 | €5,718 | €28,121 | +€22,404 | +392% |
| Profit (loss) for the period before taxes | 9903 | €36,520 | €29,945 | -€6,575 | -18.0% |
| Income taxes | 67/77 | €4,999 | €2,439 | -€2,559 | -51.2% |
| Profit (loss) for the period | 9904 | €31,522 | €27,506 | -€4,016 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,522 | €27,506 | -€4,016 | -12.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.