STAR CONSTRUCT: 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.
STAR CONSTRUCT
Largest movements
- Cash -€17,505
down €17,505 (-23.9%), from €73,152 to €55,647
mainly Other debts (-€31,564) and Debts after one year (-€11,900)
- Tangible fixed assets -€10,823
down €10,823 (-35.3%), from €30,666 to €19,843
- Receivables within one year -€6,296
down €6,296 (-40.5%), from €15,566 to €9,269
of which Trade receivables: -€4,746
- Stocks and contracts -€4,620
no longer reported in 2026 (was €4,620)
- Other debts -€31,564
no longer reported in 2026 (was €31,564)
- Debts after one year -€11,900
down €11,900 (-64.6%), from €18,416 to €6,516
- Tax, wage and social debts -€11,597
down €11,597 (-59.5%), from €19,481 to €7,884
of which Taxes: -€5,861
- Trade debts +€8,509
up €8,509 (+129%), from €6,615 to €15,124
- Profit (loss) carried forward +€6,023
up €6,023 (+29.2%), from €20,659 to €26,681
- Gross operating margin -€5,203
down €5,203 (-8.5%), from €61,547 to €56,344
- Other operating charges -€2,051
down €2,051 (-45.7%), from €4,492 to €2,441
- Staff costs +€1,563
up €1,563 (+4.4%), from €35,342 to €36,905
- Taxes -€1,043
down €1,043 (-30.1%), from €3,469 to €2,427
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €126,767 | €87,579 | -€39,187 | -30.9% |
| Fixed assets | 21/28 | €30,716 | €19,893 | -€10,823 | -35.2% |
| Tangible fixed assets | 22/27 | €30,666 | €19,843 | -€10,823 | -35.3% |
| Leasing and similar rights | 25 | €30,666 | €19,843 | -€10,823 | -35.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €96,051 | €67,687 | -€28,364 | -29.5% |
| Stocks and contracts in progress | 3 | €4,620 | - | -€4,620 | |
| Stocks | 30/36 | €4,620 | - | -€4,620 | |
| Amounts receivable within one year | 40/41 | €15,566 | €9,269 | -€6,296 | -40.5% |
| Trade receivables | 40 | €14,016 | €9,269 | -€4,746 | -33.9% |
| Other amounts receivable | 41 | €1,550 | - | -€1,550 | |
| Cash at bank and in hand | 54/58 | €73,152 | €55,647 | -€17,505 | -23.9% |
| Deferred charges and accrued income | 490/1 | €2,713 | €2,770 | +€57 | +2.1% |
| Total equity and liabilities | 10/49 | €126,767 | €87,579 | -€39,187 | -30.9% |
| Equity | 10/15 | €37,319 | €43,341 | +€6,023 | +16.1% |
| Contributions | 10/11 | €13,060 | €13,060 | = | 0.0% |
| Reserves | 13 | €3,600 | €3,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,600 | €3,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,659 | €26,681 | +€6,023 | +29.2% |
| Amounts payable | 17/49 | €89,448 | €44,238 | -€45,210 | -50.5% |
| Amounts payable after more than one year | 17 | €18,416 | €6,516 | -€11,900 | -64.6% |
| Financial debts | 170/4 | €18,416 | €6,516 | -€11,900 | -64.6% |
| Amounts payable within one year | 42/48 | €71,031 | €37,722 | -€33,310 | -46.9% |
| Current portion of amounts payable after more than one year | 42 | €13,372 | €14,714 | +€1,342 | +10.0% |
| Trade debts | 44 | €6,615 | €15,124 | +€8,509 | +129% |
| Suppliers | 440/4 | €6,615 | €15,124 | +€8,509 | +129% |
| Taxes, remuneration and social security | 45 | €19,481 | €7,884 | -€11,597 | -59.5% |
| Taxes | 450/3 | €5,861 | - | -€5,861 | |
| Remuneration and social security | 454/9 | €13,620 | €7,884 | -€5,736 | -42.1% |
| Other amounts payable | 47/48 | €31,564 | - | -€31,564 | |
| Remuneration, social security and pensions | 62 | €35,342 | €36,905 | +€1,563 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,035 | €10,823 | -€212 | -1.9% |
| Other operating charges | 640/8 | €4,492 | €2,441 | -€2,051 | -45.7% |
| Gross operating margin | 9900 | €61,547 | €56,344 | -€5,203 | -8.5% |
| Operating profit (loss) | 9901 | €10,678 | €6,174 | -€4,504 | -42.2% |
| Financial income | 75/76B | €2,790 | €2,760 | -€30 | -1.1% |
| Recurring financial income | 75 | €2,790 | €2,760 | -€30 | -1.1% |
| Financial charges | 65/66B | €829 | €485 | -€344 | -41.5% |
| Recurring financial charges | 65 | €829 | €485 | -€344 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €12,639 | €8,449 | -€4,190 | -33.1% |
| Income taxes | 67/77 | €3,469 | €2,427 | -€1,043 | -30.1% |
| Profit (loss) for the period | 9904 | €9,170 | €6,023 | -€3,147 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,170 | €6,023 | -€3,147 | -34.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.