NEW STAR TRADING: 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.
NEW STAR TRADING
Largest movements
- Stocks and contracts -€609,996
down €609,996 (-31.2%), from €2.0m to €1.3m
- Receivables within one year +€550,469
up €550,469 (+33.3%), from €1.7m to €2.2m
of which Trade receivables: +€554,987
- Cash -€411,313
down €411,313 (-47.2%), from €871,258 to €459,944
mainly Receivables within one year (-€550,469) and Trade debts (-€375,382)
- Trade debts -€375,382
down €375,382 (-34.6%), from €1.1m to €709,584
- Reserves +€120,000
up €120,000 (+140%), from €85,479 to €205,479
of which Distributable reserves: +€120,000
- Other debts -€85,181
down €85,181 (-23.8%), from €358,283 to €273,102
- Tax, wage and social debts -€78,048
down €78,048 (-73.7%), from €105,890 to €27,842
of which Taxes: -€79,598
- Gross operating margin +€107,850
up €107,850 (+37.6%), from €286,689 to €394,539
- Taxes +€27,601
up €27,601 (+82.6%), from €33,403 to €61,003
- Depreciation +€18,718
up €18,718 (+393%), from €4,764 to €23,482
- Financial charges +€9,721
up €9,721 (+106%), from €9,159 to €18,879
- Staff costs +€5,583
up €5,583 (+5.2%), from €106,381 to €111,964
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 | €4,624,546 | €4,203,472 | -€421,075 | -9.1% |
| Fixed assets | 21/28 | €87,988 | €99,017 | +€11,029 | +12.5% |
| Tangible fixed assets | 22/27 | €87,684 | €98,713 | +€11,029 | +12.6% |
| Furniture and vehicles | 24 | €35,397 | €57,307 | +€21,909 | +61.9% |
| Leasing and similar rights | 25 | €52,287 | €41,406 | -€10,881 | -20.8% |
| Financial fixed assets | 28 | €304 | €304 | = | 0.0% |
| Current assets | 29/58 | €4,536,558 | €4,104,455 | -€432,104 | -9.5% |
| Stocks and contracts in progress | 3 | €1,957,241 | €1,347,244 | -€609,996 | -31.2% |
| Stocks | 30/36 | €1,957,241 | €1,347,244 | -€609,996 | -31.2% |
| Amounts receivable within one year | 40/41 | €1,654,883 | €2,205,352 | +€550,469 | +33.3% |
| Trade receivables | 40 | €1,613,852 | €2,168,839 | +€554,987 | +34.4% |
| Other amounts receivable | 41 | €41,031 | €36,514 | -€4,517 | -11.0% |
| Cash at bank and in hand | 54/58 | €871,258 | €459,944 | -€411,313 | -47.2% |
| Deferred charges and accrued income | 490/1 | €53,177 | €91,914 | +€38,737 | +72.8% |
| Total equity and liabilities | 10/49 | €4,624,546 | €4,203,472 | -€421,075 | -9.1% |
| Equity | 10/15 | €2,980,313 | €3,107,914 | +€127,601 | +4.3% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €85,479 | €205,479 | +€120,000 | +140% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €83,000 | €203,000 | +€120,000 | +145% |
| Profit (loss) carried forward | 14 | €2,870,045 | €2,877,646 | +€7,601 | +0.3% |
| Amounts payable | 17/49 | €1,644,233 | €1,095,557 | -€548,676 | -33.4% |
| Amounts payable after more than one year | 17 | €42,035 | €31,756 | -€10,278 | -24.5% |
| Financial debts | 170/4 | €42,035 | €31,756 | -€10,278 | -24.5% |
| Amounts payable within one year | 42/48 | €1,579,613 | €1,041,216 | -€538,397 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €30,474 | €30,687 | +€213 | +0.7% |
| Trade debts | 44 | €1,084,966 | €709,584 | -€375,382 | -34.6% |
| Suppliers | 440/4 | €1,084,966 | €709,584 | -€375,382 | -34.6% |
| Taxes, remuneration and social security | 45 | €105,890 | €27,842 | -€78,048 | -73.7% |
| Taxes | 450/3 | €81,212 | €1,614 | -€79,598 | -98.0% |
| Remuneration and social security | 454/9 | €24,679 | €26,228 | +€1,550 | +6.3% |
| Other amounts payable | 47/48 | €358,283 | €273,102 | -€85,181 | -23.8% |
| Accrued charges and deferred income | 492/3 | €22,585 | €22,585 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €106,381 | €111,964 | +€5,583 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,764 | €23,482 | +€18,718 | +393% |
| Other operating charges | 640/8 | €55,313 | €52,957 | -€2,356 | -4.3% |
| Gross operating margin | 9900 | €286,689 | €394,539 | +€107,850 | +37.6% |
| Operating profit (loss) | 9901 | €120,230 | €206,135 | +€85,905 | +71.5% |
| Financial income | 75/76B | €5,607 | €1,348 | -€4,259 | -76.0% |
| Recurring financial income | 75 | €5,607 | €1,348 | -€4,259 | -76.0% |
| Financial charges | 65/66B | €9,159 | €18,879 | +€9,721 | +106% |
| Recurring financial charges | 65 | €9,159 | €18,879 | +€9,721 | +106% |
| Profit (loss) for the period before taxes | 9903 | €116,679 | €188,604 | +€71,925 | +61.6% |
| Income taxes | 67/77 | €33,403 | €61,003 | +€27,601 | +82.6% |
| Profit (loss) for the period | 9904 | €83,277 | €127,601 | +€44,324 | +53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €83,277 | €127,601 | +€44,324 | +53.2% |
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 28 October 2026 via checked.be.