GOSTAR: 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.
GOSTAR
Largest movements
- Cash +€335,938
up €335,938 (+604%), from €55,650 to €391,588
mainly Net result for the year (+€143,187) and Advances received (+€118,623)
- Receivables within one year +€98,205
up €98,205 (+53.5%), from €183,528 to €281,733
of which Other amounts receivable: +€65,971
- Tangible fixed assets -€62,824
down €62,824 (-14.5%), from €432,023 to €369,200
of which Land and buildings: -€47,169
- Stocks and contracts -€35,854
down €35,854 (-12.5%), from €286,274 to €250,420
- Reserves +€143,187
up €143,187 (+40.7%), from €351,765 to €494,952
- Advances received +€118,623
up €118,623 (+8,404%), from €1,412 to €120,034
- Trade debts +€106,407
up €106,407 (+227%), from €46,952 to €153,359
- Debts after one year -€40,155
down €40,155 (-12.9%), from €310,242 to €270,087
of which Financial debts: -€40,155
- Tax, wage and social debts +€34,982
up €34,982 (+27.9%), from €125,509 to €160,490
of which Taxes: +€46,020
- Gross operating margin +€455,738
up €455,738 (+55.1%), from €827,680 to €1.3m
- Staff costs +€184,908
up €184,908 (+23.8%), from €777,571 to €962,478
- Taxes +€42,608
up €42,608 (+9,234%), from €461 to €43,069
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 | €963,438 | €1,299,870 | +€336,432 | +34.9% |
| Fixed assets | 21/28 | €434,523 | €370,250 | -€64,274 | -14.8% |
| Intangible fixed assets | 21 | €1,050 | €1,050 | = | 0.0% |
| Tangible fixed assets | 22/27 | €432,023 | €369,200 | -€62,824 | -14.5% |
| Land and buildings | 22 | €348,038 | €300,869 | -€47,169 | -13.6% |
| Plant, machinery and equipment | 23 | €3,926 | €4,421 | +€496 | +12.6% |
| Furniture and vehicles | 24 | €80,060 | €63,909 | -€16,151 | -20.2% |
| Financial fixed assets | 28 | €1,450 | €0 | -€1,450 | -100% |
| Current assets | 29/58 | €528,915 | €929,621 | +€400,706 | +75.8% |
| Stocks and contracts in progress | 3 | €286,274 | €250,420 | -€35,854 | -12.5% |
| Stocks | 30/36 | €286,274 | €250,420 | -€35,854 | -12.5% |
| Amounts receivable within one year | 40/41 | €183,528 | €281,733 | +€98,205 | +53.5% |
| Trade receivables | 40 | €139,229 | €171,463 | +€32,234 | +23.2% |
| Other amounts receivable | 41 | €44,299 | €110,270 | +€65,971 | +149% |
| Cash at bank and in hand | 54/58 | €55,650 | €391,588 | +€335,938 | +604% |
| Deferred charges and accrued income | 490/1 | €3,463 | €5,880 | +€2,416 | +69.8% |
| Total equity and liabilities | 10/49 | €963,438 | €1,299,870 | +€336,432 | +34.9% |
| Equity | 10/15 | €357,965 | €501,152 | +€143,187 | +40.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €351,765 | €494,952 | +€143,187 | +40.7% |
| Distributable reserves | 133 | €351,765 | €494,952 | +€143,187 | +40.7% |
| Amounts payable | 17/49 | €605,474 | €798,719 | +€193,245 | +31.9% |
| Amounts payable after more than one year | 17 | €310,242 | €270,087 | -€40,155 | -12.9% |
| Financial debts | 170/4 | €310,117 | €269,962 | -€40,155 | -12.9% |
| Other amounts payable | 178/9 | €125 | €125 | = | 0.0% |
| Amounts payable within one year | 42/48 | €295,232 | €528,632 | +€233,400 | +79.1% |
| Current portion of amounts payable after more than one year | 42 | €107,922 | €82,924 | -€24,997 | -23.2% |
| Financial debts | 43 | €13,438 | €11,824 | -€1,614 | -12.0% |
| Credit institutions | 430/8 | €13,438 | €11,824 | -€1,614 | -12.0% |
| Trade debts | 44 | €46,952 | €153,359 | +€106,407 | +227% |
| Suppliers | 440/4 | €46,952 | €153,359 | +€106,407 | +227% |
| Advances received on contracts in progress | 46 | €1,412 | €120,034 | +€118,623 | +8,404% |
| Taxes, remuneration and social security | 45 | €125,509 | €160,490 | +€34,982 | +27.9% |
| Taxes | 450/3 | €17,297 | €63,317 | +€46,020 | +266% |
| Remuneration and social security | 454/9 | €108,212 | €97,173 | -€11,039 | -10.2% |
| Remuneration, social security and pensions | 62 | €777,571 | €962,478 | +€184,908 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,865 | €80,859 | +€3,994 | +5.2% |
| Other operating charges | 640/8 | €26,935 | €31,315 | +€4,381 | +16.3% |
| Gross operating margin | 9900 | €827,680 | €1,283,418 | +€455,738 | +55.1% |
| Operating profit (loss) | 9901 | -€53,690 | €208,766 | +€262,456 | |
| Financial income | 75/76B | €2,342 | €3,557 | +€1,215 | +51.9% |
| Recurring financial income | 75 | €2,342 | €3,557 | +€1,215 | +51.9% |
| Financial charges | 65/66B | €27,916 | €26,066 | -€1,850 | -6.6% |
| Recurring financial charges | 65 | €27,916 | €26,066 | -€1,850 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€79,264 | €186,256 | +€265,520 | |
| Income taxes | 67/77 | €461 | €43,069 | +€42,608 | +9,234% |
| Profit (loss) for the period | 9904 | -€79,725 | €143,187 | +€222,912 | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,725 | €143,187 | +€222,912 |
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 15 October 2026 via checked.be.