STAR LIMO: 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 LIMO
Largest movements
- Receivables within one year +€35,133
up €35,133 (+90.3%), from €38,892 to €74,024
of which Trade receivables: +€20,273
- Tangible fixed assets +€24,038
up €24,038 (+30.8%), from €77,965 to €102,003
of which Furniture and vehicles: +€24,123
- Cash -€4,756
down €4,756 (-3.8%), from €126,102 to €121,346
mainly Investment in fixed assets (net) (-€68,016) and Receivables within one year (-€35,133)
- Reserves +€52,301
up €52,301 (+64.1%), from €81,587 to €133,888
- Debts after one year -€33,223
down €33,223 (-30.3%), from €109,652 to €76,429
- Current portion of long-term debt +€23,345
new in 2025: €23,345
- Short-term financial debts +€18,000
new in 2025: €18,000
- Profit (loss) carried forward -€8,047
no longer reported in 2025 (was €8,047)
- Depreciation +€28,036
up €28,036 (+176%), from €15,942 to €43,979
- Gross operating margin +€10,825
up €10,825 (+11.1%), from €97,539 to €108,364
- Taxes -€7,873
down €7,873 (-34.2%), from €23,014 to €15,140
- Other operating charges -€5,289
down €5,289 (-86.4%), from €6,124 to €835
- Financial charges +€2,901
up €2,901 (+77.8%), from €3,728 to €6,628
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 | €243,301 | €297,792 | +€54,490 | +22.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €77,965 | €102,003 | +€24,038 | +30.8% |
| Tangible fixed assets | 22/27 | €77,965 | €102,003 | +€24,038 | +30.8% |
| Plant, machinery and equipment | 23 | €286 | €201 | -€85 | -29.7% |
| Furniture and vehicles | 24 | €77,679 | €101,802 | +€24,123 | +31.1% |
| Current assets | 29/58 | €165,336 | €195,789 | +€30,453 | +18.4% |
| Amounts receivable within one year | 40/41 | €38,892 | €74,024 | +€35,133 | +90.3% |
| Trade receivables | 40 | €36,879 | €57,152 | +€20,273 | +55.0% |
| Other amounts receivable | 41 | €2,012 | €16,872 | +€14,860 | +739% |
| Cash at bank and in hand | 54/58 | €126,102 | €121,346 | -€4,756 | -3.8% |
| Deferred charges and accrued income | 490/1 | €343 | €419 | +€76 | +22.2% |
| Total equity and liabilities | 10/49 | €243,301 | €297,792 | +€54,490 | +22.4% |
| Equity | 10/15 | €102,034 | €146,288 | +€44,254 | +43.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €81,587 | €133,888 | +€52,301 | +64.1% |
| Distributable reserves | 133 | €81,587 | €133,888 | +€52,301 | +64.1% |
| Profit (loss) carried forward | 14 | €8,047 | - | -€8,047 | |
| Amounts payable | 17/49 | €141,267 | €151,504 | +€10,237 | +7.2% |
| Amounts payable after more than one year | 17 | €109,652 | €76,429 | -€33,223 | -30.3% |
| Financial debts | 170/4 | €109,652 | €76,429 | -€33,223 | -30.3% |
| Amounts payable within one year | 42/48 | €31,615 | €75,074 | +€43,459 | +137% |
| Current portion of amounts payable after more than one year | 42 | - | €23,345 | +€23,345 | |
| Financial debts | 43 | - | €18,000 | +€18,000 | |
| Other loans | 439 | - | €18,000 | +€18,000 | |
| Trade debts | 44 | €19,985 | €20,827 | +€842 | +4.2% |
| Suppliers | 440/4 | €19,985 | €20,827 | +€842 | +4.2% |
| Taxes, remuneration and social security | 45 | €3,857 | €3,330 | -€527 | -13.7% |
| Taxes | 450/3 | €1,857 | €3,330 | +€1,473 | +79.3% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €7,774 | €9,574 | +€1,800 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,942 | €43,979 | +€28,036 | +176% |
| Other operating charges | 640/8 | €6,124 | €835 | -€5,289 | -86.4% |
| Gross operating margin | 9900 | €97,539 | €108,364 | +€10,825 | +11.1% |
| Operating profit (loss) | 9901 | €75,473 | €63,551 | -€11,923 | -15.8% |
| Financial income | 75/76B | - | €2,472 | +€2,472 | |
| Recurring financial income | 75 | - | €26 | +€26 | |
| Non-recurring financial income | 76B | - | €2,445 | +€2,445 | |
| Financial charges | 65/66B | €3,728 | €6,628 | +€2,901 | +77.8% |
| Recurring financial charges | 65 | €3,728 | €6,628 | +€2,901 | +77.8% |
| Profit (loss) for the period before taxes | 9903 | €71,746 | €59,394 | -€12,351 | -17.2% |
| Income taxes | 67/77 | €23,014 | €15,140 | -€7,873 | -34.2% |
| Profit (loss) for the period | 9904 | €48,732 | €44,254 | -€4,478 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,732 | €44,254 | -€4,478 | -9.2% |
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 27 October 2026 via checked.be.