SOLAR STAR: 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.
SOLAR STAR
Largest movements
- Cash +€237,833
up €237,833 (+361%), from €65,921 to €303,754
mainly Trade debts (+€116,339) and Other debts (+€72,130)
- Stocks and contracts -€37,789
down €37,789 (-16.5%), from €228,566 to €190,777
- Receivables within one year +€31,548
up €31,548 (+108%), from €29,144 to €60,692
of which Trade receivables: +€36,269
- Trade debts +€116,339
up €116,339 (+394%), from €29,543 to €145,882
- Other debts +€72,130
up €72,130 (+33.3%), from €216,527 to €288,657
- Profit (loss) carried forward +€46,894
up €46,894 (+277%), from €16,933 to €63,828
- Financial income +€7,511
new in 2025: €7,511
- Depreciation +€4,451
up €4,451 (+296%), from €1,503 to €5,954
- Gross operating margin +€3,007
up €3,007 (+6.5%), from €46,237 to €49,243
- Other operating charges +€1,287
up €1,287 (+108%), from €1,193 to €2,479
- Taxes +€942
new in 2025: €942
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 | €333,045 | €566,841 | +€233,797 | +70.2% |
| Fixed assets | 21/28 | €9,324 | €11,528 | +€2,205 | +23.6% |
| Tangible fixed assets | 22/27 | €9,324 | €11,528 | +€2,205 | +23.6% |
| Plant, machinery and equipment | 23 | €517 | €5,580 | +€5,064 | +980% |
| Furniture and vehicles | 24 | €8,807 | €5,948 | -€2,859 | -32.5% |
| Current assets | 29/58 | €323,721 | €555,313 | +€231,592 | +71.5% |
| Stocks and contracts in progress | 3 | €228,566 | €190,777 | -€37,789 | -16.5% |
| Stocks | 30/36 | €228,566 | €190,777 | -€37,789 | -16.5% |
| Amounts receivable within one year | 40/41 | €29,144 | €60,692 | +€31,548 | +108% |
| Trade receivables | 40 | €11,731 | €48,000 | +€36,269 | +309% |
| Other amounts receivable | 41 | €17,413 | €12,692 | -€4,721 | -27.1% |
| Cash at bank and in hand | 54/58 | €65,921 | €303,754 | +€237,833 | +361% |
| Deferred charges and accrued income | 490/1 | €90 | €90 | = | 0.0% |
| Total equity and liabilities | 10/49 | €333,045 | €566,841 | +€233,797 | +70.2% |
| Equity | 10/15 | €81,975 | €128,869 | +€46,894 | +57.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €3,068 | €3,068 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,068 | €3,068 | = | 0.0% |
| Legal reserve | 130 | €3,068 | €3,068 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,933 | €63,828 | +€46,894 | +277% |
| Amounts payable | 17/49 | €251,070 | €437,972 | +€186,902 | +74.4% |
| Amounts payable within one year | 42/48 | €251,070 | €437,972 | +€186,902 | +74.4% |
| Trade debts | 44 | €29,543 | €145,882 | +€116,339 | +394% |
| Suppliers | 440/4 | €29,543 | €145,882 | +€116,339 | +394% |
| Taxes, remuneration and social security | 45 | €5,000 | €3,433 | -€1,567 | -31.3% |
| Taxes | 450/3 | €5,000 | €3,433 | -€1,567 | -31.3% |
| Other amounts payable | 47/48 | €216,527 | €288,657 | +€72,130 | +33.3% |
| Remuneration, social security and pensions | 62 | €924 | €437 | -€487 | -52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,503 | €5,954 | +€4,451 | +296% |
| Other operating charges | 640/8 | €1,193 | €2,479 | +€1,287 | +108% |
| Gross operating margin | 9900 | €46,237 | €49,243 | +€3,007 | +6.5% |
| Operating profit (loss) | 9901 | €42,618 | €40,373 | -€2,245 | -5.3% |
| Financial income | 75/76B | - | €7,511 | +€7,511 | |
| Recurring financial income | 75 | - | €7,511 | +€7,511 | |
| Financial charges | 65/66B | €136 | €47 | -€89 | -65.1% |
| Recurring financial charges | 65 | €136 | €47 | -€89 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | €42,482 | €47,836 | +€5,355 | +12.6% |
| Income taxes | 67/77 | - | €942 | +€942 | |
| Profit (loss) for the period | 9904 | €42,482 | €46,894 | +€4,413 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,482 | €46,894 | +€4,413 | +10.4% |
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 27 October 2026 via checked.be.