Star-Works: 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-Works
Largest movements
- Receivables within one year +€55,341
up €55,341 (+80.0%), from €69,189 to €124,530
of which Trade receivables: +€49,825
- Tangible fixed assets -€5,596
down €5,596 (-18.4%), from €30,457 to €24,862
- Deferred charges and accrued income -€1,654
down €1,654 (-98.7%), from €1,676 to €22
- Tax, wage and social debts +€24,034
up €24,034 (+146%), from €16,416 to €40,449
of which Taxes: +€30,755
- Trade debts +€23,077
up €23,077 (+500%), from €4,617 to €27,693
- Staff costs -€25,856
down €25,856 (-99.9%), from €25,893 to €37
- Gross operating margin -€19,596
down €19,596 (-50.6%), from €38,702 to €19,106
- Other operating charges +€5,457
up €5,457 (+616%), from €886 to €6,343
- Depreciation -€2,656
down €2,656 (-30.8%), from €8,611 to €5,955
- Taxes +€1,703
new in 2025: €1,703
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 | €101,322 | €149,415 | +€48,093 | +47.5% |
| Fixed assets | 21/28 | €30,457 | €24,862 | -€5,596 | -18.4% |
| Tangible fixed assets | 22/27 | €30,457 | €24,862 | -€5,596 | -18.4% |
| Plant, machinery and equipment | 23 | €2,195 | €1,618 | -€577 | -26.3% |
| Furniture and vehicles | 24 | €11,935 | €9,630 | -€2,305 | -19.3% |
| Other tangible fixed assets | 26 | €16,327 | €13,613 | -€2,713 | -16.6% |
| Current assets | 29/58 | €70,865 | €124,554 | +€53,689 | +75.8% |
| Amounts receivable within one year | 40/41 | €69,189 | €124,530 | +€55,341 | +80.0% |
| Trade receivables | 40 | €67,029 | €116,854 | +€49,825 | +74.3% |
| Other amounts receivable | 41 | €2,160 | €7,676 | +€5,516 | +255% |
| Cash at bank and in hand | 54/58 | - | €1 | +€1 | |
| Deferred charges and accrued income | 490/1 | €1,676 | €22 | -€1,654 | -98.7% |
| Total equity and liabilities | 10/49 | €101,322 | €149,415 | +€48,093 | +47.5% |
| Equity | 10/15 | €76,498 | €77,183 | +€685 | +0.9% |
| Reserves | 13 | €21,860 | €21,860 | = | 0.0% |
| Distributable reserves | 133 | €21,860 | €21,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,638 | €55,323 | +€685 | +1.3% |
| Amounts payable | 17/49 | €24,824 | €72,233 | +€47,409 | +191% |
| Amounts payable within one year | 42/48 | €24,824 | €72,233 | +€47,409 | +191% |
| Financial debts | 43 | €2,294 | €2,357 | +€63 | +2.8% |
| Credit institutions | 430/8 | €2,294 | €2,357 | +€63 | +2.8% |
| Trade debts | 44 | €4,617 | €27,693 | +€23,077 | +500% |
| Suppliers | 440/4 | €4,617 | €27,693 | +€23,077 | +500% |
| Taxes, remuneration and social security | 45 | €16,416 | €40,449 | +€24,034 | +146% |
| Taxes | 450/3 | €9,694 | €40,449 | +€30,755 | +317% |
| Remuneration and social security | 454/9 | €6,721 | - | -€6,721 | |
| Other amounts payable | 47/48 | €1,498 | €1,733 | +€235 | +15.7% |
| Remuneration, social security and pensions | 62 | €25,893 | €37 | -€25,856 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,611 | €5,955 | -€2,656 | -30.8% |
| Other operating charges | 640/8 | €886 | €6,343 | +€5,457 | +616% |
| Gross operating margin | 9900 | €38,702 | €19,106 | -€19,596 | -50.6% |
| Operating profit (loss) | 9901 | €3,311 | €6,770 | +€3,459 | +104% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,977 | €4,383 | +€1,405 | +47.2% |
| Recurring financial charges | 65 | €2,977 | €4,383 | +€1,405 | +47.2% |
| Profit (loss) for the period before taxes | 9903 | €334 | €2,387 | +€2,053 | +614% |
| Income taxes | 67/77 | - | €1,703 | +€1,703 | |
| Profit (loss) for the period | 9904 | €334 | €685 | +€350 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €334 | €685 | +€350 | +105% |
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 30 October 2026 via checked.be.