STAR SERIES: 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 SERIES
Largest movements
- Receivables within one year -€123,473
down €123,473 (-93.2%), from €132,488 to €9,015
of which Trade receivables: -€123,368
- Cash +€44,835
up €44,835 (+414%), from €10,837 to €55,672
mainly Receivables within one year (+€123,473) and Net result for the year (+€31,727)
- Trade debts -€101,897
down €101,897 (-76.6%), from €133,007 to €31,110
- Profit (loss) carried forward +€31,727
up €31,727, from -€2,157 to €29,570
- Other debts -€8,883
down €8,883 (-79.5%), from €11,176 to €2,293
- Purchases and services -€47,957
down €47,957 (-13.0%), from €368,036 to €320,079
- Gross operating margin +€30,860
up €30,860 (+691%), from €4,468 to €35,329
- Turnover -€17,096
down €17,096 (-4.6%), from €372,504 to €355,407
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 | €160,939 | €81,582 | -€79,357 | -49.3% |
| Formation expenses | 20 | €559 | - | -€559 | |
| Fixed assets | 21/28 | €3,623 | €3,552 | -€70 | -1.9% |
| Tangible fixed assets | 22/27 | €3,623 | €3,552 | -€70 | -1.9% |
| Land and buildings | 22 | €2,051 | - | -€2,051 | |
| Plant, machinery and equipment | 23 | €1,333 | €3,483 | +€2,150 | +161% |
| Furniture and vehicles | 24 | €239 | €69 | -€170 | -71.0% |
| Current assets | 29/58 | €156,758 | €78,030 | -€78,728 | -50.2% |
| Stocks and contracts in progress | 3 | €13,434 | €12,972 | -€461 | -3.4% |
| Stocks | 30/36 | €13,434 | €12,972 | -€461 | -3.4% |
| Amounts receivable within one year | 40/41 | €132,488 | €9,015 | -€123,473 | -93.2% |
| Trade receivables | 40 | €128,811 | €5,443 | -€123,368 | -95.8% |
| Other amounts receivable | 41 | €3,677 | €3,572 | -€105 | -2.9% |
| Cash at bank and in hand | 54/58 | €10,837 | €55,672 | +€44,835 | +414% |
| Deferred charges and accrued income | 490/1 | - | €371 | +€371 | |
| Total equity and liabilities | 10/49 | €160,939 | €81,582 | -€79,357 | -49.3% |
| Equity | 10/15 | €16,443 | €48,170 | +€31,727 | +193% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,157 | €29,570 | +€31,727 | |
| Amounts payable | 17/49 | €144,496 | €33,412 | -€111,084 | -76.9% |
| Amounts payable within one year | 42/48 | €144,183 | €33,403 | -€110,780 | -76.8% |
| Trade debts | 44 | €133,007 | €31,110 | -€101,897 | -76.6% |
| Suppliers | 440/4 | €133,007 | €31,110 | -€101,897 | -76.6% |
| Other amounts payable | 47/48 | €11,176 | €2,293 | -€8,883 | -79.5% |
| Accrued charges and deferred income | 492/3 | €313 | €9 | -€303 | -97.0% |
| Turnover | 70 | €372,504 | €355,407 | -€17,096 | -4.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €368,036 | €320,079 | -€47,957 | -13.0% |
| Remuneration, social security and pensions | 62 | - | €269 | +€269 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,997 | €1,697 | -€301 | -15.1% |
| Other operating charges | 640/8 | €1,670 | €1,198 | -€472 | -28.2% |
| Gross operating margin | 9900 | €4,468 | €35,329 | +€30,860 | +691% |
| Operating profit (loss) | 9901 | €801 | €32,165 | +€31,364 | +3,916% |
| Financial income | 75/76B | €85 | €0 | -€85 | -99.8% |
| Recurring financial income | 75 | €85 | €0 | -€85 | -99.8% |
| Financial charges | 65/66B | €386 | €439 | +€52 | +13.5% |
| Recurring financial charges | 65 | €386 | €439 | +€52 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €499 | €31,727 | +€31,227 | +6,254% |
| Profit (loss) for the period | 9904 | €499 | €31,727 | +€31,227 | +6,254% |
| Profit (loss) for the period to be appropriated | 9905 | €499 | €31,727 | +€31,227 | +6,254% |
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 22 October 2026 via checked.be.