STAR Quality Stables: 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 Quality Stables
Largest movements
- Stocks and contracts +€201,200
up €201,200 (+52.7%), from €381,800 to €583,000
- Tangible fixed assets +€48,297
up €48,297 (+943%), from €5,121 to €53,418
- Cash +€34,671
up €34,671 (+2,010%), from €1,725 to €36,397
mainly Other debts (+€393,120) and Receivables within one year (+€11,316)
- Receivables within one year -€11,316
down €11,316 (-55.0%), from €20,565 to €9,249
of which Trade receivables: -€18,227
- Other debts +€393,120
up €393,120 (+134%), from €292,524 to €685,644
- Trade debts -€89,395
down €89,395 (-49.0%), from €182,544 to €93,148
- Profit (loss) carried forward -€34,252
down €34,252 (-54.7%), from -€62,639 to -€96,891
- Gross operating margin +€14,711
up €14,711 (+39.0%), from -€37,767 to -€23,055
- Staff costs +€5,427
new in 2025: €5,427
- Depreciation +€4,808
up €4,808 (+14,919%), from €32 to €4,841
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 | €416,429 | €688,293 | +€271,864 | +65.3% |
| Fixed assets | 21/28 | €5,121 | €57,261 | +€52,140 | +1,018% |
| Intangible fixed assets | 21 | - | €3,843 | +€3,843 | |
| Tangible fixed assets | 22/27 | €5,121 | €53,418 | +€48,297 | +943% |
| Land and buildings | 22 | - | €18,906 | +€18,906 | |
| Plant, machinery and equipment | 23 | €5,121 | €16,839 | +€11,719 | +229% |
| Other tangible fixed assets | 26 | - | €17,672 | +€17,672 | |
| Current assets | 29/58 | €411,308 | €631,032 | +€219,724 | +53.4% |
| Stocks and contracts in progress | 3 | €381,800 | €583,000 | +€201,200 | +52.7% |
| Stocks | 30/36 | €381,800 | €583,000 | +€201,200 | +52.7% |
| Amounts receivable within one year | 40/41 | €20,565 | €9,249 | -€11,316 | -55.0% |
| Trade receivables | 40 | €18,227 | €0 | -€18,227 | -100% |
| Other amounts receivable | 41 | €2,338 | €9,249 | +€6,911 | +296% |
| Cash at bank and in hand | 54/58 | €1,725 | €36,397 | +€34,671 | +2,010% |
| Deferred charges and accrued income | 490/1 | €7,217 | €2,386 | -€4,831 | -66.9% |
| Total equity and liabilities | 10/49 | €416,429 | €688,293 | +€271,864 | +65.3% |
| Equity | 10/15 | -€58,639 | -€92,891 | -€34,252 | -58.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,639 | -€96,891 | -€34,252 | -54.7% |
| Amounts payable | 17/49 | €475,068 | €781,184 | +€306,117 | +64.4% |
| Amounts payable within one year | 42/48 | €475,068 | €781,184 | +€306,117 | +64.4% |
| Trade debts | 44 | €182,544 | €93,148 | -€89,395 | -49.0% |
| Suppliers | 440/4 | €182,544 | €93,148 | -€89,395 | -49.0% |
| Taxes, remuneration and social security | 45 | - | €2,392 | +€2,392 | |
| Remuneration and social security | 454/9 | - | €2,392 | +€2,392 | |
| Other amounts payable | 47/48 | €292,524 | €685,644 | +€393,120 | +134% |
| Remuneration, social security and pensions | 62 | - | €5,427 | +€5,427 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32 | €4,841 | +€4,808 | +14,919% |
| Other operating charges | 640/8 | €574 | €923 | +€349 | +60.7% |
| Gross operating margin | 9900 | -€37,767 | -€23,055 | +€14,711 | +39.0% |
| Operating profit (loss) | 9901 | -€38,373 | -€34,246 | +€4,127 | +10.8% |
| Financial income | 75/76B | - | €49 | +€49 | |
| Recurring financial income | 75 | - | €49 | +€49 | |
| Financial charges | 65/66B | €54 | €56 | +€2 | +2.8% |
| Recurring financial charges | 65 | €54 | €56 | +€2 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | -€38,427 | -€34,252 | +€4,175 | +10.9% |
| Profit (loss) for the period | 9904 | -€38,427 | -€34,252 | +€4,175 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,427 | -€34,252 | +€4,175 | +10.9% |
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 19 October 2026 via checked.be.