STARBEACH: what changed
Two fiscal 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.
STARBEACH
Largest movements
- Tangible fixed assets +€927,816
up €927,816 (+50.3%), from €1.8m to €2.8m
- Debts after one year +€573,059
up €573,059 (+54.1%), from €1.1m to €1.6m
of which Financial debts: +€534,959
- Contributions +€295,000
up €295,000 (+67.1%), from €439,600 to €734,600
- Reserves +€31,607
new in 2025: €31,607
- Gross operating margin +€40,877
up €40,877 (+37.4%), from €109,372 to €150,249
- Depreciation +€19,820
up €19,820 (+63.7%), from €31,100 to €50,920
- Taxes +€15,837
up €15,837 (+19795987.5%), from €0 to €15,837
- Financial charges +€12,060
up €12,060 (+38.5%), from €31,346 to €43,406
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.
Cash bridge derived
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 | €1,869,144 | €2,817,938 | +€948,794 | +50.8% |
| Fixed assets | 21/28 | €1,845,955 | €2,773,770 | +€927,816 | +50.3% |
| Tangible fixed assets | 22/27 | €1,845,955 | €2,773,770 | +€927,816 | +50.3% |
| Land and buildings | 22 | €1,845,955 | €2,773,770 | +€927,816 | +50.3% |
| Current assets | 29/58 | €23,189 | €44,167 | +€20,978 | +90.5% |
| Amounts receivable within one year | 40/41 | €0 | €18 | +€18 | |
| Trade receivables | 40 | €0 | €18 | +€18 | |
| Cash at bank and in hand | 54/58 | €15,750 | €29,795 | +€14,044 | +89.2% |
| Deferred charges and accrued income | 490/1 | €7,439 | €14,354 | +€6,915 | +93.0% |
| Total equity and liabilities | 10/49 | €1,869,144 | €2,817,938 | +€948,794 | +50.8% |
| Equity | 10/15 | €439,470 | €766,207 | +€326,737 | +74.3% |
| Contributions | 10/11 | €439,600 | €734,600 | +€295,000 | +67.1% |
| Reserves | 13 | - | €31,607 | +€31,607 | |
| Distributable reserves | 133 | - | €31,607 | +€31,607 | |
| Profit (loss) carried forward | 14 | -€130 | €0 | +€130 | |
| Amounts payable | 17/49 | €1,429,674 | €2,051,731 | +€622,057 | +43.5% |
| Amounts payable after more than one year | 17 | €1,058,463 | €1,631,522 | +€573,059 | +54.1% |
| Financial debts | 170/4 | €538,463 | €1,073,422 | +€534,959 | +99.3% |
| Other amounts payable | 178/9 | €520,000 | €558,100 | +€38,100 | +7.3% |
| Amounts payable within one year | 42/48 | €140,477 | €186,104 | +€45,627 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €92,761 | €96,276 | +€3,515 | +3.8% |
| Trade debts | 44 | €2,435 | €3,906 | +€1,472 | +60.4% |
| Suppliers | 440/4 | €2,435 | €3,906 | +€1,472 | +60.4% |
| Taxes, remuneration and social security | 45 | - | €15,837 | +€15,837 | |
| Taxes | 450/3 | - | €15,837 | +€15,837 | |
| Other amounts payable | 47/48 | €45,281 | €70,085 | +€24,804 | +54.8% |
| Accrued charges and deferred income | 492/3 | €230,734 | €234,105 | +€3,371 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,100 | €50,920 | +€19,820 | +63.7% |
| Other operating charges | 640/8 | €8,133 | €8,370 | +€238 | +2.9% |
| Gross operating margin | 9900 | €109,372 | €150,249 | +€40,877 | +37.4% |
| Operating profit (loss) | 9901 | €70,139 | €90,959 | +€20,820 | +29.7% |
| Financial income | 75/76B | €0 | €21 | +€21 | +8791.7% |
| Recurring financial income | 75 | €0 | €21 | +€21 | +8791.7% |
| Financial charges | 65/66B | €31,346 | €43,406 | +€12,060 | +38.5% |
| Recurring financial charges | 65 | €31,346 | €43,406 | +€12,060 | +38.5% |
| Profit (loss) for the period before taxes | 9903 | €38,793 | €47,574 | +€8,780 | +22.6% |
| Income taxes | 67/77 | €0 | €15,837 | +€15,837 | +19795987.5% |
| Profit (loss) for the period | 9904 | €38,793 | €31,737 | -€7,056 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,793 | €31,737 | -€7,056 | -18.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.