SR De Ster: 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.
SR De Ster
Largest movements
- Tangible fixed assets +€65,247
new in 2025: €65,247
of which Other tangible fixed assets: +€58,314
- Receivables within one year -€49,797
down €49,797 (-97.8%), from €50,900 to €1,104
of which Trade receivables: -€28,669
- Cash +€32,898
up €32,898 (+605%), from €5,435 to €38,333
mainly Debts after one year (+€120,895) and Receivables within one year (+€49,797)
- Financial fixed assets +€4,800
new in 2025: €4,800
- Deferred charges and accrued income +€3,884
new in 2025: €3,884
- Debts after one year +€120,895
up €120,895 (+633%), from €19,105 to €140,000
of which Other amounts payable: +€140,000
- Profit (loss) carried forward -€52,567
down €52,567, from €130 to -€52,437
- Trade debts -€21,079
down €21,079 (-98.0%), from €21,514 to €435
- Tax, wage and social debts +€19,109
up €19,109 (+586%), from €3,261 to €22,370
of which Taxes: +€14,167
- Short-term financial debts -€9,326
down €9,326 (-100%), from €9,326 to €0
- Staff costs +€22,821
new in 2025: €22,821
- Other operating charges +€19,985
up €19,985 (+941%), from €2,124 to €22,109
- Gross operating margin -€16,434
down €16,434, from €13,510 to -€2,924
- Financial charges -€3,986
down €3,986 (-94.3%), from €4,229 to €243
- Depreciation -€1,824
down €1,824 (-28.8%), from €6,338 to €4,514
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 | €56,336 | €113,368 | +€57,032 | +101% |
| Fixed assets | 21/28 | - | €70,047 | +€70,047 | |
| Tangible fixed assets | 22/27 | - | €65,247 | +€65,247 | |
| Plant, machinery and equipment | 23 | - | €4,211 | +€4,211 | |
| Furniture and vehicles | 24 | - | €2,723 | +€2,723 | |
| Other tangible fixed assets | 26 | - | €58,314 | +€58,314 | |
| Financial fixed assets | 28 | - | €4,800 | +€4,800 | |
| Current assets | 29/58 | €56,336 | €43,321 | -€13,015 | -23.1% |
| Amounts receivable within one year | 40/41 | €50,900 | €1,104 | -€49,797 | -97.8% |
| Trade receivables | 40 | €28,669 | €0 | -€28,669 | -100% |
| Other amounts receivable | 41 | €22,231 | €1,104 | -€21,128 | -95.0% |
| Cash at bank and in hand | 54/58 | €5,435 | €38,333 | +€32,898 | +605% |
| Deferred charges and accrued income | 490/1 | - | €3,884 | +€3,884 | |
| Total equity and liabilities | 10/49 | €56,336 | €113,368 | +€57,032 | +101% |
| Equity | 10/15 | €3,130 | -€49,437 | -€52,567 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130 | -€52,437 | -€52,567 | |
| Amounts payable | 17/49 | €53,206 | €162,805 | +€109,599 | +206% |
| Amounts payable after more than one year | 17 | €19,105 | €140,000 | +€120,895 | +633% |
| Financial debts | 170/4 | €19,105 | €0 | -€19,105 | -100% |
| Other amounts payable | 178/9 | - | €140,000 | +€140,000 | |
| Amounts payable within one year | 42/48 | €34,101 | €22,805 | -€11,296 | -33.1% |
| Financial debts | 43 | €9,326 | €0 | -€9,326 | -100% |
| Credit institutions | 430/8 | €9,326 | €0 | -€9,326 | -100% |
| Trade debts | 44 | €21,514 | €435 | -€21,079 | -98.0% |
| Suppliers | 440/4 | €21,514 | €435 | -€21,079 | -98.0% |
| Taxes, remuneration and social security | 45 | €3,261 | €22,370 | +€19,109 | +586% |
| Taxes | 450/3 | €3,261 | €17,428 | +€14,167 | +434% |
| Remuneration and social security | 454/9 | - | €4,942 | +€4,942 | |
| Remuneration, social security and pensions | 62 | - | €22,821 | +€22,821 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,338 | €4,514 | -€1,824 | -28.8% |
| Other operating charges | 640/8 | €2,124 | €22,109 | +€19,985 | +941% |
| Non-recurring operating charges | 66A | €63 | €0 | -€63 | -100% |
| Gross operating margin | 9900 | €13,510 | -€2,924 | -€16,434 | |
| Operating profit (loss) | 9901 | €4,985 | -€52,368 | -€57,353 | |
| Financial income | 75/76B | €0 | €44 | +€44 | +220,300% |
| Recurring financial income | 75 | €0 | €44 | +€44 | +220,300% |
| Financial charges | 65/66B | €4,229 | €243 | -€3,986 | -94.3% |
| Recurring financial charges | 65 | €4,229 | €243 | -€3,986 | -94.3% |
| Profit (loss) for the period before taxes | 9903 | €756 | -€52,567 | -€53,323 | |
| Income taxes | 67/77 | €626 | €0 | -€626 | -100% |
| Profit (loss) for the period | 9904 | €130 | -€52,567 | -€52,697 | |
| Profit (loss) for the period to be appropriated | 9905 | €130 | -€52,567 | -€52,697 |
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 26 October 2026 via checked.be.