Star Bike: what changed
Star Bike
Largest movements
- Receivables within one year +€459,943
up €459,943 (+302%), from €152,131 to €612,074
of which Trade receivables: +€483,013
- Stocks and contracts -€181,214
down €181,214 (-16.8%), from €1.1m to €898,689
- Tangible fixed assets +€146,386
up €146,386 (+172%), from €84,993 to €231,380
of which Land and buildings: +€112,294
- Cash -€25,283
down €25,283 (-53.1%), from €47,576 to €22,293
mainly Receivables within one year (-€459,943) and Net result for the year (-€225,516)
- Trade debts +€266,696
up €266,696 (+38.5%), from €692,616 to €959,312
- Profit (loss) carried forward -€225,516
down €225,516, from €120,802 to -€104,714
- Tax, wage and social debts +€130,066
up €130,066 (+483%), from €26,921 to €156,987
of which Taxes: +€105,850
- Debts after one year +€125,567
new in 2025: €125,567
- Other debts +€83,773
up €83,773 (+78.2%), from €107,120 to €190,893
- Staff costs +€121,103
up €121,103 (+168%), from €72,022 to €193,125
- Gross operating margin -€91,149
down €91,149 (-88.6%), from €102,861 to €11,712
- Depreciation +€25,048
up €25,048 (+249%), from €10,074 to €35,122
- Financial income +€7,230
up €7,230 (+539%), from €1,342 to €8,572
- Financial charges +€6,513
up €6,513 (+128%), from €5,107 to €11,620
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 | €1,372,247 | €1,771,924 | +€399,677 | +29.1% |
| Fixed assets | 21/28 | €90,133 | €235,787 | +€145,654 | +162% |
| Intangible fixed assets | 21 | €777 | €44 | -€732 | -94.3% |
| Tangible fixed assets | 22/27 | €84,993 | €231,380 | +€146,386 | +172% |
| Land and buildings | 22 | €58,612 | €170,906 | +€112,294 | +192% |
| Plant, machinery and equipment | 23 | €20,134 | €26,774 | +€6,641 | +33.0% |
| Furniture and vehicles | 24 | €6,248 | €33,700 | +€27,452 | +439% |
| Financial fixed assets | 28 | €4,363 | €4,363 | = | 0.0% |
| Current assets | 29/58 | €1,282,114 | €1,536,137 | +€254,023 | +19.8% |
| Stocks and contracts in progress | 3 | €1,079,903 | €898,689 | -€181,214 | -16.8% |
| Stocks | 30/36 | €1,079,903 | €898,689 | -€181,214 | -16.8% |
| Amounts receivable within one year | 40/41 | €152,131 | €612,074 | +€459,943 | +302% |
| Trade receivables | 40 | €101,314 | €584,328 | +€483,013 | +477% |
| Other amounts receivable | 41 | €50,817 | €27,746 | -€23,071 | -45.4% |
| Cash at bank and in hand | 54/58 | €47,576 | €22,293 | -€25,283 | -53.1% |
| Deferred charges and accrued income | 490/1 | €2,504 | €3,081 | +€577 | +23.0% |
| Total equity and liabilities | 10/49 | €1,372,247 | €1,771,924 | +€399,677 | +29.1% |
| Equity | 10/15 | €441,202 | €215,686 | -€225,516 | -51.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €300,400 | €300,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €298,400 | €298,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,802 | -€104,714 | -€225,516 | |
| Amounts payable | 17/49 | €931,046 | €1,556,238 | +€625,193 | +67.1% |
| Amounts payable after more than one year | 17 | - | €125,567 | +€125,567 | |
| Financial debts | 170/4 | - | €125,567 | +€125,567 | |
| Amounts payable within one year | 42/48 | €931,046 | €1,430,672 | +€499,626 | +53.7% |
| Current portion of amounts payable after more than one year | 42 | - | €15,049 | +€15,049 | |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €692,616 | €959,312 | +€266,696 | +38.5% |
| Suppliers | 440/4 | €692,616 | €959,312 | +€266,696 | +38.5% |
| Advances received on contracts in progress | 46 | €4,389 | €8,432 | +€4,043 | +92.1% |
| Taxes, remuneration and social security | 45 | €26,921 | €156,987 | +€130,066 | +483% |
| Taxes | 450/3 | €9,113 | €114,963 | +€105,850 | +1,161% |
| Remuneration and social security | 454/9 | €17,808 | €42,024 | +€24,216 | +136% |
| Other amounts payable | 47/48 | €107,120 | €190,893 | +€83,773 | +78.2% |
| Non-recurring operating income | 76A | €5,348 | €0 | -€5,348 | -100% |
| Remuneration, social security and pensions | 62 | €72,022 | €193,125 | +€121,103 | +168% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,074 | €35,122 | +€25,048 | +249% |
| Other operating charges | 640/8 | €402 | €5,932 | +€5,530 | +1,376% |
| Gross operating margin | 9900 | €102,861 | €11,712 | -€91,149 | -88.6% |
| Operating profit (loss) | 9901 | €20,363 | -€222,467 | -€242,831 | |
| Financial income | 75/76B | €1,342 | €8,572 | +€7,230 | +539% |
| Recurring financial income | 75 | €1,342 | €8,572 | +€7,230 | +539% |
| Financial charges | 65/66B | €5,107 | €11,620 | +€6,513 | +128% |
| Recurring financial charges | 65 | €5,107 | €11,620 | +€6,513 | +128% |
| Profit (loss) for the period before taxes | 9903 | €16,598 | -€225,516 | -€242,113 | |
| Income taxes | 67/77 | €3,748 | €0 | -€3,748 | -100% |
| Profit (loss) for the period | 9904 | €12,849 | -€225,516 | -€238,365 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,849 | -€225,516 | -€238,365 |
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 3 November 2026 via checked.be.