STAR BOX: 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 BOX
Largest movements
- Receivables within one year +€25,951
up €25,951 (+265.9%), from €9,759 to €35,710
of which Trade receivables: +€17,982
- Tangible fixed assets -€20,978
down €20,978 (-26.4%), from €79,465 to €58,487
of which Furniture and vehicles: -€21,358
- Formation expenses -€9,000
no longer reported in 2025 (was €9,000)
- Cash -€6,013
down €6,013 (-14.6%), from €41,136 to €35,124
mainly Receivables within one year (-€25,951) and Debts after one year (-€13,528)
- Debts after one year -€13,528
down €13,528 (-35.2%), from €38,408 to €24,880
- Tax, wage and social debts +€8,376
up €8,376 (+102.8%), from €8,148 to €16,524
of which Taxes: +€8,374
- Trade debts -€4,752
down €4,752 (-20.4%), from €23,303 to €18,551
- Other debts -€3,973
down €3,973 (-24.0%), from €16,590 to €12,617
- Profit (loss) carried forward +€3,452
up €3,452 (+95.3%), from €3,624 to €7,075
- Turnover -€518,876
no longer reported in 2025 (was €518,876)
- Purchases and services -€333,384
no longer reported in 2025 (was €333,384)
- Gross operating margin +€30,624
up €30,624 (+16.1%), from €190,569 to €221,193
- Staff costs +€15,740
up €15,740 (+10.0%), from €158,101 to €173,840
- Depreciation +€7,277
up €7,277 (+26.6%), from €27,352 to €34,629
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 | €175,237 | €165,995 | -€9,241 | -5.3% |
| Formation expenses | 20 | €9,000 | - | -€9,000 | |
| Fixed assets | 21/28 | €99,534 | €78,556 | -€20,978 | -21.1% |
| Tangible fixed assets | 22/27 | €79,465 | €58,487 | -€20,978 | -26.4% |
| Plant, machinery and equipment | 23 | €2,802 | €5,432 | +€2,630 | +93.9% |
| Furniture and vehicles | 24 | €66,018 | €44,660 | -€21,358 | -32.4% |
| Other tangible fixed assets | 26 | €10,645 | €8,394 | -€2,250 | -21.1% |
| Financial fixed assets | 28 | €20,069 | €20,069 | = | 0.0% |
| Current assets | 29/58 | €66,703 | €87,439 | +€20,737 | +31.1% |
| Stocks and contracts in progress | 3 | €8,990 | €9,425 | +€436 | +4.8% |
| Stocks | 30/36 | €8,990 | €9,425 | +€436 | +4.8% |
| Amounts receivable within one year | 40/41 | €9,759 | €35,710 | +€25,951 | +265.9% |
| Trade receivables | 40 | - | €17,982 | +€17,982 | |
| Other amounts receivable | 41 | €9,759 | €17,728 | +€7,969 | +81.7% |
| Cash at bank and in hand | 54/58 | €41,136 | €35,124 | -€6,013 | -14.6% |
| Deferred charges and accrued income | 490/1 | €6,818 | €7,181 | +€363 | +5.3% |
| Total equity and liabilities | 10/49 | €175,237 | €165,995 | -€9,241 | -5.3% |
| Equity | 10/15 | €73,252 | €76,703 | +€3,452 | +4.7% |
| Contributions | 10/11 | €63,213 | €63,213 | = | 0.0% |
| Reserves | 13 | €6,415 | €6,415 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,415 | €6,415 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,415 | €6,415 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,624 | €7,075 | +€3,452 | +95.3% |
| Amounts payable | 17/49 | €101,985 | €89,292 | -€12,693 | -12.4% |
| Amounts payable after more than one year | 17 | €38,408 | €24,880 | -€13,528 | -35.2% |
| Financial debts | 170/4 | €38,408 | €24,880 | -€13,528 | -35.2% |
| Amounts payable within one year | 42/48 | €63,577 | €64,412 | +€835 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €15,535 | €16,721 | +€1,185 | +7.6% |
| Trade debts | 44 | €23,303 | €18,551 | -€4,752 | -20.4% |
| Suppliers | 440/4 | €23,303 | €18,551 | -€4,752 | -20.4% |
| Taxes, remuneration and social security | 45 | €8,148 | €16,524 | +€8,376 | +102.8% |
| Taxes | 450/3 | €3,483 | €11,857 | +€8,374 | +240.4% |
| Remuneration and social security | 454/9 | €4,665 | €4,667 | +€2 | 0.0% |
| Other amounts payable | 47/48 | €16,590 | €12,617 | -€3,973 | -24.0% |
| Turnover | 70 | €518,876 | - | -€518,876 | |
| Non-recurring operating income | 76A | €9,000 | - | -€9,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €333,384 | - | -€333,384 | |
| Remuneration, social security and pensions | 62 | €158,101 | €173,840 | +€15,740 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,352 | €34,629 | +€7,277 | +26.6% |
| Other operating charges | 640/8 | €3,601 | €118 | -€3,484 | -96.7% |
| Gross operating margin | 9900 | €190,569 | €221,193 | +€30,624 | +16.1% |
| Operating profit (loss) | 9901 | €1,515 | €12,606 | +€11,091 | +732.1% |
| Financial income | 75/76B | - | €198 | +€198 | |
| Recurring financial income | 75 | - | €198 | +€198 | |
| Financial charges | 65/66B | €6,166 | €7,321 | +€1,155 | +18.7% |
| Recurring financial charges | 65 | €6,166 | €7,321 | +€1,155 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,651 | €5,482 | +€10,134 | |
| Income taxes | 67/77 | €241 | €2,031 | +€1,789 | +741.3% |
| Profit (loss) for the period | 9904 | -€4,893 | €3,452 | +€8,344 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,893 | €3,452 | +€8,344 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.