L'ETOILE: 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.
L'ETOILE
Largest movements
- Receivables within one year -€11,615
down €11,615 (-12.6%), from €92,481 to €80,866
of which Trade receivables: -€14,560
- Cash +€8,741
up €8,741 (+86.6%), from €10,093 to €18,833
mainly Receivables within one year (+€11,615) and Trade debts (+€545)
- Tax, wage and social debts -€2,454
down €2,454 (-61.8%), from €3,970 to €1,516
- Gross operating margin +€22,825
up €22,825 (+108%), from €21,160 to €43,985
- Write-downs +€2,880
new in 2025: €2,880
- Other operating charges +€1,857
up €1,857 (+21.9%), from €8,464 to €10,322
- Staff costs +€981
up €981 (+3.4%), from €29,123 to €30,104
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 | €104,136 | €101,875 | -€2,261 | -2.2% |
| Fixed assets | 21/28 | €627 | €1,444 | +€817 | +130% |
| Tangible fixed assets | 22/27 | €367 | €1,184 | +€817 | +223% |
| Furniture and vehicles | 24 | €367 | €1,184 | +€817 | +223% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €103,509 | €100,431 | -€3,078 | -3.0% |
| Amounts receivable within one year | 40/41 | €92,481 | €80,866 | -€11,615 | -12.6% |
| Trade receivables | 40 | €39,721 | €25,161 | -€14,560 | -36.7% |
| Other amounts receivable | 41 | €52,760 | €55,705 | +€2,945 | +5.6% |
| Cash at bank and in hand | 54/58 | €10,093 | €18,833 | +€8,741 | +86.6% |
| Deferred charges and accrued income | 490/1 | €936 | €733 | -€203 | -21.7% |
| Total equity and liabilities | 10/49 | €104,136 | €101,875 | -€2,261 | -2.2% |
| Equity | 10/15 | €97,828 | €97,456 | -€372 | -0.4% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Contributions outside capital | 11 | €20,451 | €20,451 | = | 0.0% |
| Other | 1109/19 | €20,451 | €20,451 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,377 | €77,005 | -€372 | -0.5% |
| Amounts payable | 17/49 | €6,308 | €4,419 | -€1,888 | -29.9% |
| Amounts payable within one year | 42/48 | €6,308 | €4,398 | -€1,910 | -30.3% |
| Trade debts | 44 | €2,338 | €2,882 | +€545 | +23.3% |
| Suppliers | 440/4 | €2,338 | €2,882 | +€545 | +23.3% |
| Taxes, remuneration and social security | 45 | €3,970 | €1,516 | -€2,454 | -61.8% |
| Remuneration and social security | 454/9 | €3,970 | €1,516 | -€2,454 | -61.8% |
| Accrued charges and deferred income | 492/3 | - | €21 | +€21 | |
| Remuneration, social security and pensions | 62 | €29,123 | €30,104 | +€981 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €733 | €392 | -€341 | -46.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,880 | +€2,880 | |
| Other operating charges | 640/8 | €8,464 | €10,322 | +€1,857 | +21.9% |
| Gross operating margin | 9900 | €21,160 | €43,985 | +€22,825 | +108% |
| Operating profit (loss) | 9901 | -€17,160 | €288 | +€17,449 | |
| Financial income | 75/76B | €25 | - | -€25 | |
| Recurring financial income | 75 | €25 | - | -€25 | |
| Financial charges | 65/66B | €628 | €661 | +€32 | +5.2% |
| Recurring financial charges | 65 | €628 | €661 | +€32 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | -€17,763 | -€372 | +€17,391 | +97.9% |
| Profit (loss) for the period | 9904 | -€17,763 | -€372 | +€17,391 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,763 | -€372 | +€17,391 | +97.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.