STAR-DAL: 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-DAL
Largest movements
- Cash -€26,185
down €26,185 (-38.1%), from €68,661 to €42,476
mainly Advances received (-€15,495) and Debts after one year (-€12,129)
- Receivables within one year -€18,077
down €18,077 (-32.8%), from €55,127 to €37,049
of which Trade receivables: -€24,658
- Tangible fixed assets -€6,985
down €6,985 (-29.7%), from €23,553 to €16,567
of which Leasing and similar rights: -€4,389
- Advances received -€15,495
no longer reported in 2025 (was €15,495)
- Debts after one year -€12,129
down €12,129 (-58.8%), from €20,613 to €8,484
- Tax, wage and social debts -€10,995
no longer reported in 2025 (was €10,995)
of which Taxes: -€10,869
- Profit (loss) carried forward -€8,968
down €8,968 (-12.7%), from €70,644 to €61,677
- Short-term financial debts +€7,810
new in 2025: €7,810
- Gross operating margin -€57,935
down €57,935 (-98.9%), from €58,566 to €631
- Taxes -€9,859
down €9,859 (-90.7%), from €10,869 to €1,010
- Financial income +€1,760
up €1,760 (+2,811%), from €63 to €1,822
- Other operating charges +€1,326
up €1,326 (+1,143%), from €116 to €1,442
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 | €147,341 | €96,093 | -€51,248 | -34.8% |
| Fixed assets | 21/28 | €23,553 | €16,567 | -€6,985 | -29.7% |
| Tangible fixed assets | 22/27 | €23,553 | €16,567 | -€6,985 | -29.7% |
| Plant, machinery and equipment | 23 | €921 | €473 | -€448 | -48.6% |
| Furniture and vehicles | 24 | €6,976 | €4,827 | -€2,149 | -30.8% |
| Leasing and similar rights | 25 | €15,656 | €11,267 | -€4,389 | -28.0% |
| Current assets | 29/58 | €123,788 | €79,525 | -€44,262 | -35.8% |
| Amounts receivable within one year | 40/41 | €55,127 | €37,049 | -€18,077 | -32.8% |
| Trade receivables | 40 | €52,261 | €27,603 | -€24,658 | -47.2% |
| Other amounts receivable | 41 | €2,866 | €9,446 | +€6,581 | +230% |
| Cash at bank and in hand | 54/58 | €68,661 | €42,476 | -€26,185 | -38.1% |
| Total equity and liabilities | 10/49 | €147,341 | €96,093 | -€51,248 | -34.8% |
| Equity | 10/15 | €72,644 | €63,677 | -€8,968 | -12.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,644 | €61,677 | -€8,968 | -12.7% |
| Amounts payable | 17/49 | €74,696 | €32,416 | -€42,280 | -56.6% |
| Amounts payable after more than one year | 17 | €20,613 | €8,484 | -€12,129 | -58.8% |
| Financial debts | 170/4 | €20,613 | €8,484 | -€12,129 | -58.8% |
| Amounts payable within one year | 42/48 | €54,083 | €23,932 | -€30,151 | -55.7% |
| Current portion of amounts payable after more than one year | 42 | €11,710 | €4,319 | -€7,391 | -63.1% |
| Financial debts | 43 | - | €7,810 | +€7,810 | |
| Credit institutions | 430/8 | - | €7,810 | +€7,810 | |
| Trade debts | 44 | €15,883 | €11,803 | -€4,080 | -25.7% |
| Suppliers | 440/4 | €15,883 | €11,803 | -€4,080 | -25.7% |
| Advances received on contracts in progress | 46 | €15,495 | - | -€15,495 | |
| Taxes, remuneration and social security | 45 | €10,995 | - | -€10,995 | |
| Taxes | 450/3 | €10,869 | - | -€10,869 | |
| Remuneration and social security | 454/9 | €126 | - | -€126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,959 | €6,985 | +€26 | +0.4% |
| Other operating charges | 640/8 | €116 | €1,442 | +€1,326 | +1,143% |
| Gross operating margin | 9900 | €58,566 | €631 | -€57,935 | -98.9% |
| Operating profit (loss) | 9901 | €51,491 | -€7,796 | -€59,287 | |
| Financial income | 75/76B | €63 | €1,822 | +€1,760 | +2,811% |
| Recurring financial income | 75 | €63 | €1,822 | +€1,760 | +2,811% |
| Financial charges | 65/66B | €1,820 | €1,984 | +€163 | +9.0% |
| Recurring financial charges | 65 | €1,820 | €1,984 | +€163 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €49,733 | -€7,958 | -€57,691 | |
| Income taxes | 67/77 | €10,869 | €1,010 | -€9,859 | -90.7% |
| Profit (loss) for the period | 9904 | €38,864 | -€8,968 | -€47,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,864 | -€8,968 | -€47,832 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.