STAR: what changed
Two fiscal 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.
STAR
Largest movements
- Tangible fixed assets -€6,309
down €6,309 (-48.7%), from €12,960 to €6,651
- Cash -€4,300
down €4,300 (-100.0%), from €4,300 to €0
mainly Other debts (-€13,521) and Tax, wage and social debts (-€9,056)
- Other debts -€13,521
down €13,521 (-14.9%), from €90,573 to €77,052
- Profit (loss) carried forward +€12,560
up €12,560 (+13.4%), from -€93,492 to -€80,931
- Tax, wage and social debts -€9,056
down €9,056 (-94.4%), from €9,592 to €536
of which Taxes: -€9,192
- Short-term financial debts +€2,804
up €2,804 (+132.6%), from €2,115 to €4,918
- Current portion of long-term debt -€2,083
down €2,083 (-51.0%), from €4,082 to €1,999
- Gross operating margin -€18,241
down €18,241 (-43.4%), from €42,036 to €23,795
- Taxes -€3,934
down €3,934 (-50.4%), from €7,803 to €3,869
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.
Cash bridge derived
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 | €22,803 | €12,112 | -€10,691 | -46.9% |
| Fixed assets | 21/28 | €12,960 | €6,651 | -€6,309 | -48.7% |
| Tangible fixed assets | 22/27 | €12,960 | €6,651 | -€6,309 | -48.7% |
| Furniture and vehicles | 24 | €12,960 | €6,651 | -€6,309 | -48.7% |
| Current assets | 29/58 | €9,843 | €5,461 | -€4,382 | -44.5% |
| Amounts receivable within one year | 40/41 | €5,117 | €5,130 | +€13 | +0.2% |
| Trade receivables | 40 | €5,117 | €1,499 | -€3,618 | -70.7% |
| Other amounts receivable | 41 | - | €3,631 | +€3,631 | |
| Cash at bank and in hand | 54/58 | €4,300 | €0 | -€4,300 | -100.0% |
| Deferred charges and accrued income | 490/1 | €426 | €331 | -€94 | -22.2% |
| Total equity and liabilities | 10/49 | €22,803 | €12,112 | -€10,691 | -46.9% |
| Equity | 10/15 | -€87,292 | -€74,731 | +€12,560 | +14.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,492 | -€80,931 | +€12,560 | +13.4% |
| Amounts payable | 17/49 | €110,094 | €86,843 | -€23,251 | -21.1% |
| Amounts payable after more than one year | 17 | €1,999 | €0 | -€1,999 | -100.0% |
| Financial debts | 170/4 | €1,999 | €0 | -€1,999 | -100.0% |
| Amounts payable within one year | 42/48 | €107,712 | €86,429 | -€21,282 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €4,082 | €1,999 | -€2,083 | -51.0% |
| Financial debts | 43 | €2,115 | €4,918 | +€2,804 | +132.6% |
| Credit institutions | 430/8 | €2,115 | €4,918 | +€2,804 | +132.6% |
| Trade debts | 44 | €1,350 | €1,925 | +€575 | +42.6% |
| Suppliers | 440/4 | €1,350 | €1,925 | +€575 | +42.6% |
| Taxes, remuneration and social security | 45 | €9,592 | €536 | -€9,056 | -94.4% |
| Taxes | 450/3 | €9,592 | €400 | -€9,192 | -95.8% |
| Remuneration and social security | 454/9 | - | €136 | +€136 | |
| Other amounts payable | 47/48 | €90,573 | €77,052 | -€13,521 | -14.9% |
| Accrued charges and deferred income | 492/3 | €384 | €414 | +€30 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,332 | €6,309 | -€23 | -0.4% |
| Other operating charges | 640/8 | €643 | €662 | +€18 | +2.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €42,036 | €23,795 | -€18,241 | -43.4% |
| Operating profit (loss) | 9901 | €35,061 | €16,825 | -€18,236 | -52.0% |
| Financial charges | 65/66B | €419 | €395 | -€24 | -5.6% |
| Recurring financial charges | 65 | €419 | €395 | -€24 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €34,642 | €16,430 | -€18,213 | -52.6% |
| Income taxes | 67/77 | €7,803 | €3,869 | -€3,934 | -50.4% |
| Profit (loss) for the period | 9904 | €26,839 | €12,560 | -€14,278 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,839 | €12,560 | -€14,278 | -53.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.