STAR FORAGE: 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 FORAGE
Largest movements
- Receivables within one year +€42,581
up €42,581 (+125%), from €34,190 to €76,772
of which Trade receivables: +€41,147
- Tangible fixed assets -€16,385
down €16,385 (-40.1%), from €40,824 to €24,439
of which Furniture and vehicles: -€9,849
- Cash +€6,735
up €6,735 (+3,287%), from €205 to €6,940
mainly Advances received (+€43,010) and Current portion of long-term debt (+€11,218)
- Advances received +€43,010
up €43,010 (+243%), from €17,665 to €60,675
- Debts after one year -€12,740
down €12,740 (-42.8%), from €29,748 to €17,008
- Current portion of long-term debt +€11,218
new in 2024: €11,218
- Short-term financial debts -€6,299
no longer reported in 2024 (was €6,299)
- Tax, wage and social debts -€3,391
down €3,391 (-68.7%), from €4,935 to €1,544
of which Remuneration and social security: -€2,787
- Gross operating margin -€25,337
down €25,337 (-53.2%), from €47,668 to €22,331
- Staff costs -€12,703
down €12,703 (-95.5%), from €13,298 to €595
- Financial charges -€4,522
down €4,522 (-41.8%), from €10,812 to €6,291
- Depreciation -€4,086
down €4,086 (-29.0%), from €14,105 to €10,019
- Other operating charges +€516
up €516 (+10.2%), from €5,070 to €5,586
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,552 | €108,352 | +€32,799 | +43.4% |
| Formation expenses | 20 | €245 | €75 | -€170 | -69.4% |
| Fixed assets | 21/28 | €40,824 | €24,439 | -€16,385 | -40.1% |
| Tangible fixed assets | 22/27 | €40,824 | €24,439 | -€16,385 | -40.1% |
| Furniture and vehicles | 24 | €34,288 | €24,439 | -€9,849 | -28.7% |
| Leasing and similar rights | 25 | €6,536 | - | -€6,536 | |
| Current assets | 29/58 | €34,483 | €83,837 | +€49,354 | +143% |
| Amounts receivable within one year | 40/41 | €34,190 | €76,772 | +€42,581 | +125% |
| Trade receivables | 40 | €21,829 | €62,975 | +€41,147 | +188% |
| Other amounts receivable | 41 | €12,361 | €13,796 | +€1,435 | +11.6% |
| Cash at bank and in hand | 54/58 | €205 | €6,940 | +€6,735 | +3,287% |
| Deferred charges and accrued income | 490/1 | €88 | €126 | +€38 | +42.7% |
| Total equity and liabilities | 10/49 | €75,552 | €108,352 | +€32,799 | +43.4% |
| Equity | 10/15 | €15,032 | €15,071 | +€39 | +0.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,832 | €8,871 | +€39 | +0.4% |
| Amounts payable | 17/49 | €60,520 | €93,280 | +€32,760 | +54.1% |
| Amounts payable after more than one year | 17 | €29,748 | €17,008 | -€12,740 | -42.8% |
| Financial debts | 170/4 | €29,748 | €17,008 | -€12,740 | -42.8% |
| Amounts payable within one year | 42/48 | €30,772 | €76,272 | +€45,500 | +148% |
| Current portion of amounts payable after more than one year | 42 | - | €11,218 | +€11,218 | |
| Financial debts | 43 | €6,299 | - | -€6,299 | |
| Other loans | 439 | €6,299 | - | -€6,299 | |
| Trade debts | 44 | €1,872 | €2,834 | +€962 | +51.4% |
| Suppliers | 440/4 | €1,872 | €2,834 | +€962 | +51.4% |
| Advances received on contracts in progress | 46 | €17,665 | €60,675 | +€43,010 | +243% |
| Taxes, remuneration and social security | 45 | €4,935 | €1,544 | -€3,391 | -68.7% |
| Taxes | 450/3 | €2,148 | €1,544 | -€604 | -28.1% |
| Remuneration and social security | 454/9 | €2,787 | - | -€2,787 | |
| Remuneration, social security and pensions | 62 | €13,298 | €595 | -€12,703 | -95.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,105 | €10,019 | -€4,086 | -29.0% |
| Other operating charges | 640/8 | €5,070 | €5,586 | +€516 | +10.2% |
| Gross operating margin | 9900 | €47,668 | €22,331 | -€25,337 | -53.2% |
| Operating profit (loss) | 9901 | €15,196 | €6,131 | -€9,065 | -59.7% |
| Financial income | 75/76B | €268 | €717 | +€449 | +167% |
| Recurring financial income | 75 | €268 | €717 | +€449 | +167% |
| Financial charges | 65/66B | €10,812 | €6,291 | -€4,522 | -41.8% |
| Recurring financial charges | 65 | €10,812 | €6,291 | -€4,522 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €4,652 | €558 | -€4,094 | -88.0% |
| Income taxes | 67/77 | €1,026 | €518 | -€508 | -49.5% |
| Profit (loss) for the period | 9904 | €3,626 | €39 | -€3,586 | -98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,626 | €39 | -€3,586 | -98.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.