PAK STAR: what changed
PAK STAR
Largest movements
- Cash +€41,352
up €41,352 (+47.2%), from €87,649 to €129,002
mainly Net result for the year (+€24,459) and Other debts (+€9,922)
- Receivables within one year +€5,996
up €5,996 (+35.3%), from €16,985 to €22,980
of which Trade receivables: +€4,134
- Profit (loss) carried forward +€18,959
up €18,959 (+54.6%), from €34,751 to €53,710
- Other debts +€9,922
up €9,922 (+49.2%), from €20,159 to €30,081
- Trade debts +€9,798
up €9,798 (+32.7%), from €29,937 to €39,735
- Tax, wage and social debts +€8,337
up €8,337 (+61.6%), from €13,525 to €21,862
of which Taxes: +€5,129
- Staff costs +€14,563
new in 2025: €14,563
- Taxes -€6,140
down €6,140 (-61.6%), from €9,966 to €3,826
- Gross operating margin +€4,213
up €4,213 (+9.6%), from €43,690 to €47,903
- Financial charges -€1,268
down €1,268 (-20.5%), from €6,195 to €4,927
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €129,076 | €176,091 | +€47,015 | +36.4% |
| Fixed assets | 21/28 | €2,100 | €2,100 | = | 0.0% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €126,976 | €173,991 | +€47,015 | +37.0% |
| Stocks and contracts in progress | 3 | €22,156 | €21,562 | -€594 | -2.7% |
| Stocks | 30/36 | €22,156 | €21,562 | -€594 | -2.7% |
| Amounts receivable within one year | 40/41 | €16,985 | €22,980 | +€5,996 | +35.3% |
| Trade receivables | 40 | €16,194 | €20,329 | +€4,134 | +25.5% |
| Other amounts receivable | 41 | €790 | €2,652 | +€1,862 | +236% |
| Cash at bank and in hand | 54/58 | €87,649 | €129,002 | +€41,352 | +47.2% |
| Deferred charges and accrued income | 490/1 | €186 | €447 | +€261 | +140% |
| Total equity and liabilities | 10/49 | €129,076 | €176,091 | +€47,015 | +36.4% |
| Equity | 10/15 | €65,455 | €84,414 | +€18,959 | +29.0% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €23,704 | €23,704 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €21,804 | €21,804 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,751 | €53,710 | +€18,959 | +54.6% |
| Amounts payable | 17/49 | €63,622 | €91,678 | +€28,056 | +44.1% |
| Amounts payable within one year | 42/48 | €63,622 | €91,678 | +€28,056 | +44.1% |
| Trade debts | 44 | €29,937 | €39,735 | +€9,798 | +32.7% |
| Suppliers | 440/4 | €29,937 | €39,735 | +€9,798 | +32.7% |
| Taxes, remuneration and social security | 45 | €13,525 | €21,862 | +€8,337 | +61.6% |
| Taxes | 450/3 | €13,525 | €18,654 | +€5,129 | +37.9% |
| Remuneration and social security | 454/9 | - | €3,208 | +€3,208 | |
| Other amounts payable | 47/48 | €20,159 | €30,081 | +€9,922 | +49.2% |
| Remuneration, social security and pensions | 62 | - | €14,563 | +€14,563 | |
| Other operating charges | 640/8 | €654 | €545 | -€109 | -16.6% |
| Gross operating margin | 9900 | €43,690 | €47,903 | +€4,213 | +9.6% |
| Operating profit (loss) | 9901 | €43,036 | €32,795 | -€10,242 | -23.8% |
| Financial income | 75/76B | €132 | €417 | +€285 | +215% |
| Recurring financial income | 75 | €132 | €417 | +€285 | +215% |
| Financial charges | 65/66B | €6,195 | €4,927 | -€1,268 | -20.5% |
| Recurring financial charges | 65 | €6,195 | €4,927 | -€1,268 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €36,973 | €28,285 | -€8,689 | -23.5% |
| Income taxes | 67/77 | €9,966 | €3,826 | -€6,140 | -61.6% |
| Profit (loss) for the period | 9904 | €27,008 | €24,459 | -€2,549 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,008 | €24,459 | -€2,549 | -9.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.