STAR FINANCE: 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.
What changed
STAR FINANCE
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1,307
2024 · -€3,348+€4,655
Equity
€560,789
2024 · €559,482+€1,307
Cash
€33,230
2024 · €24,608+€8,622
Balance sheet total
€1.1m
2024 · €1.1m-€33,402
Largest movements
Assets
- Current investments -€30,000
no longer reported in 2025 (was €30,000)
Equity and liabilities
- Trade debts -€19,901
down €19,901 (-51.6%), from €38,593 to €18,692
Income statement
- Gross operating margin +€14,697
up €14,697 (+20.6%), from €71,438 to €86,135
- Depreciation +€13,266
up €13,266 (+29.1%), from €45,588 to €58,854
- Financial charges -€9,155
down €9,155 (-85.7%), from €10,684 to €1,529
- Other operating charges +€6,265
up €6,265 (+34.0%), from €18,417 to €24,682
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.
Result 2024
-€3,348
Gross operating margin
+€14,697
Depreciation
-€13,266
Other operating charges
-€6,265
Financial income
+€303
Financial charges
+€9,155
Taxes
+€31
Result 2025
€1,307
raises the resultlowers the result
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.
From operations
+€27,899
Investment
-€19,287
Financing
+€10
Cash 2024
€24,608
From operations (derived)
+€27,899
Net result for the year
+€1,307
Depreciation
+€58,854
Receivables after one year
-€455
Receivables within one year
+€5,012
Deferred charges and accrued income
-€2,100
Trade debts
-€19,901
Tax, wage and social debts
-€3,120
Other debts
-€4,417
Accrued charges and deferred income
-€7,281
Investment (derived)
-€19,287
Investment in fixed assets (net)
-€49,287
Current investments
+€30,000
Financing
+€10
Debts after one year
+€10
Cash 2025
€33,230
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,124,081 | €1,090,679 | -€33,402 | -3.0% |
| Fixed assets | 21/28 | €1,064,461 | €1,054,894 | -€9,567 | -0.9% |
| Tangible fixed assets | 22/27 | €1,064,461 | €1,054,894 | -€9,567 | -0.9% |
| Land and buildings | 22 | €674,629 | €659,128 | -€15,501 | -2.3% |
| Plant, machinery and equipment | 23 | €381,614 | €387,548 | +€5,934 | +1.6% |
| Furniture and vehicles | 24 | €8,218 | €8,218 | = | 0.0% |
| Current assets | 29/58 | €59,620 | €35,785 | -€23,835 | -40.0% |
| Amounts receivable after more than one year | 29 | - | €455 | +€455 | |
| Trade receivables | 290 | - | €455 | +€455 | |
| Amounts receivable within one year | 40/41 | €5,012 | - | -€5,012 | |
| Trade receivables | 40 | €1,105 | - | -€1,105 | |
| Other amounts receivable | 41 | €3,907 | - | -€3,907 | |
| Current investments | 50/53 | €30,000 | - | -€30,000 | |
| Cash at bank and in hand | 54/58 | €24,608 | €33,230 | +€8,622 | +35.0% |
| Deferred charges and accrued income | 490/1 | - | €2,100 | +€2,100 | |
| Total equity and liabilities | 10/49 | €1,124,081 | €1,090,679 | -€33,402 | -3.0% |
| Equity | 10/15 | €559,482 | €560,789 | +€1,307 | +0.2% |
| Contributions | 10/11 | €410,000 | €410,000 | = | 0.0% |
| Capital | 10 | €410,000 | €410,000 | = | 0.0% |
| Issued capital | 100 | €410,000 | €410,000 | = | 0.0% |
| Reserves | 13 | €103,911 | €103,911 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Legal reserve | 130 | €35,000 | €35,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €68,911 | €68,911 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,571 | €46,878 | +€1,307 | +2.9% |
| Amounts payable | 17/49 | €564,599 | €529,890 | -€34,709 | -6.1% |
| Amounts payable after more than one year | 17 | €240 | €250 | +€10 | +4.2% |
| Other amounts payable | 178/9 | €240 | €250 | +€10 | +4.2% |
| Amounts payable within one year | 42/48 | €557,078 | €529,640 | -€27,438 | -4.9% |
| Trade debts | 44 | €38,593 | €18,692 | -€19,901 | -51.6% |
| Suppliers | 440/4 | €38,593 | €18,692 | -€19,901 | -51.6% |
| Taxes, remuneration and social security | 45 | €3,120 | - | -€3,120 | |
| Taxes | 450/3 | €3,120 | - | -€3,120 | |
| Other amounts payable | 47/48 | €515,365 | €510,948 | -€4,417 | -0.9% |
| Accrued charges and deferred income | 492/3 | €7,281 | - | -€7,281 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,588 | €58,854 | +€13,266 | +29.1% |
| Other operating charges | 640/8 | €18,417 | €24,682 | +€6,265 | +34.0% |
| Gross operating margin | 9900 | €71,438 | €86,135 | +€14,697 | +20.6% |
| Operating profit (loss) | 9901 | €7,433 | €2,599 | -€4,834 | -65.0% |
| Financial income | 75/76B | - | €303 | +€303 | |
| Recurring financial income | 75 | - | €303 | +€303 | |
| Financial charges | 65/66B | €10,684 | €1,529 | -€9,155 | -85.7% |
| Recurring financial charges | 65 | €10,684 | €1,529 | -€9,155 | -85.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,251 | €1,373 | +€4,624 | |
| Income taxes | 67/77 | €97 | €66 | -€31 | -32.0% |
| Profit (loss) for the period | 9904 | -€3,348 | €1,307 | +€4,655 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,348 | €1,307 | +€4,655 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.