STAR GROUP: 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 GROUP
Largest movements
- Financial fixed assets +€2.1m
up €2.1m (+1,348%), from €155,734 to €2.3m
- Tangible fixed assets +€942,135
up €942,135 (+149%), from €632,554 to €1.6m
of which Land and buildings: +€934,890
- Debts after one year +€2.0m
up €2.0m (+980%), from €204,166 to €2.2m
- Revaluation surpluses +€958,803
new in 2025: €958,803
- Other debts -€235,028
down €235,028 (-95.9%), from €245,086 to €10,059
- Profit (loss) carried forward +€114,305
up €114,305 (+151%), from €75,577 to €189,882
- Reserves +€74,991
up €74,991 (+41.1%), from €182,631 to €257,622
of which Distributable reserves: +€75,577
- Financial income +€110,000
up €110,000, from €0 to €110,000
- Depreciation -€12,651
down €12,651 (-20.1%), from €62,850 to €50,199
- Financial charges +€12,446
up €12,446 (+161%), from €7,711 to €20,157
- Gross operating margin +€6,270
up €6,270 (+2.8%), from €222,758 to €229,028
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 | €899,293 | €3,925,967 | +€3.0m | +337% |
| Fixed assets | 21/28 | €788,691 | €3,830,788 | +€3.0m | +386% |
| Intangible fixed assets | 21 | €404 | €357 | -€47 | -11.5% |
| Tangible fixed assets | 22/27 | €632,554 | €1,574,689 | +€942,135 | +149% |
| Land and buildings | 22 | €494,635 | €1,429,525 | +€934,890 | +189% |
| Plant, machinery and equipment | 23 | €81,684 | €66,869 | -€14,815 | -18.1% |
| Furniture and vehicles | 24 | €3,363 | €1,040 | -€2,322 | -69.1% |
| Other tangible fixed assets | 26 | €52,873 | €77,255 | +€24,382 | +46.1% |
| Financial fixed assets | 28 | €155,734 | €2,255,742 | +€2.1m | +1,348% |
| Current assets | 29/58 | €110,601 | €95,179 | -€15,423 | -13.9% |
| Amounts receivable within one year | 40/41 | €84,363 | €85,419 | +€1,056 | +1.3% |
| Trade receivables | 40 | €84,363 | €85,419 | +€1,056 | +1.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €26,238 | €9,743 | -€16,495 | -62.9% |
| Deferred charges and accrued income | 490/1 | €0 | €16 | +€16 | |
| Total equity and liabilities | 10/49 | €899,293 | €3,925,967 | +€3.0m | +337% |
| Equity | 10/15 | €320,208 | €1,468,307 | +€1.1m | +359% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €958,803 | +€958,803 | |
| Reserves | 13 | €182,631 | €257,622 | +€74,991 | +41.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,994 | €8,407 | -€587 | -6.5% |
| Distributable reserves | 133 | €167,437 | €243,015 | +€75,577 | +45.1% |
| Profit (loss) carried forward | 14 | €75,577 | €189,882 | +€114,305 | +151% |
| Provisions and deferred taxes | 16 | €2,998 | €2,802 | -€196 | -6.5% |
| Deferred taxes | 168 | €2,998 | €2,802 | -€196 | -6.5% |
| Amounts payable | 17/49 | €576,086 | €2,454,857 | +€1.9m | +326% |
| Amounts payable after more than one year | 17 | €204,166 | €2,205,048 | +€2.0m | +980% |
| Financial debts | 170/4 | €204,166 | €2,205,048 | +€2.0m | +980% |
| Amounts payable within one year | 42/48 | €371,920 | €249,809 | -€122,111 | -32.8% |
| Current portion of amounts payable after more than one year | 42 | €73,984 | €141,743 | +€67,760 | +91.6% |
| Trade debts | 44 | €16,287 | €56,764 | +€40,477 | +249% |
| Suppliers | 440/4 | €16,287 | €56,764 | +€40,477 | +249% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €36,563 | €41,242 | +€4,679 | +12.8% |
| Taxes | 450/3 | €36,563 | €41,242 | +€4,679 | +12.8% |
| Other amounts payable | 47/48 | €245,086 | €10,059 | -€235,028 | -95.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,850 | €50,199 | -€12,651 | -20.1% |
| Other operating charges | 640/8 | €46,875 | €48,940 | +€2,064 | +4.4% |
| Gross operating margin | 9900 | €222,758 | €229,028 | +€6,270 | +2.8% |
| Operating profit (loss) | 9901 | €113,032 | €129,889 | +€16,857 | +14.9% |
| Financial income | 75/76B | €0 | €110,000 | +€110,000 | |
| Recurring financial income | 75 | €0 | €110,000 | +€110,000 | |
| Financial charges | 65/66B | €7,711 | €20,157 | +€12,446 | +161% |
| Recurring financial charges | 65 | €7,711 | €20,157 | +€12,446 | +161% |
| Profit (loss) for the period before taxes | 9903 | €105,322 | €219,733 | +€114,411 | +109% |
| Transfer from deferred taxes | 780 | €196 | €196 | = | 0.0% |
| Income taxes | 67/77 | €30,527 | €30,633 | +€106 | +0.3% |
| Profit (loss) for the period | 9904 | €74,991 | €189,295 | +€114,305 | +152% |
| Transfer from tax-exempt reserves | 789 | €587 | €587 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,577 | €189,882 | +€114,305 | +151% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.