STARCON: 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.
STARCON
Largest movements
- Current investments +€48,708
up €48,708 (+50.4%), from €96,667 to €145,375
- Cash +€34,259
up €34,259 (+22.2%), from €154,188 to €188,447
mainly Net result for the year (+€69,497) and Depreciation (+€31,511)
- Tangible fixed assets -€28,393
down €28,393 (-38.7%), from €73,416 to €45,023
- Receivables within one year -€12,892
down €12,892 (-41.1%), from €31,341 to €18,449
of which Other amounts receivable: -€6,874
- Reserves +€69,497
up €69,497 (+24.4%), from €284,804 to €354,301
- Debts after one year -€20,875
down €20,875 (-70.2%), from €29,744 to €8,869
- Other debts -€6,995
down €6,995 (-52.4%), from €13,346 to €6,351
No income-statement line moved by more than 1% of the activity.
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 | €360,319 | €402,024 | +€41,705 | +11.6% |
| Fixed assets | 21/28 | €73,416 | €45,023 | -€28,393 | -38.7% |
| Tangible fixed assets | 22/27 | €73,416 | €45,023 | -€28,393 | -38.7% |
| Furniture and vehicles | 24 | €73,416 | €45,023 | -€28,393 | -38.7% |
| Current assets | 29/58 | €286,903 | €357,001 | +€70,098 | +24.4% |
| Amounts receivable within one year | 40/41 | €31,341 | €18,449 | -€12,892 | -41.1% |
| Trade receivables | 40 | €24,026 | €18,008 | -€6,018 | -25.0% |
| Other amounts receivable | 41 | €7,315 | €441 | -€6,874 | -94.0% |
| Current investments | 50/53 | €96,667 | €145,375 | +€48,708 | +50.4% |
| Cash at bank and in hand | 54/58 | €154,188 | €188,447 | +€34,259 | +22.2% |
| Deferred charges and accrued income | 490/1 | €4,707 | €4,730 | +€23 | +0.5% |
| Total equity and liabilities | 10/49 | €360,319 | €402,024 | +€41,705 | +11.6% |
| Equity | 10/15 | €291,004 | €360,501 | +€69,497 | +23.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €284,804 | €354,301 | +€69,497 | +24.4% |
| Distributable reserves | 133 | €284,804 | €354,301 | +€69,497 | +24.4% |
| Amounts payable | 17/49 | €69,315 | €41,523 | -€27,792 | -40.1% |
| Amounts payable after more than one year | 17 | €29,744 | €8,869 | -€20,875 | -70.2% |
| Financial debts | 170/4 | €29,744 | €8,869 | -€20,875 | -70.2% |
| Amounts payable within one year | 42/48 | €39,571 | €32,655 | -€6,917 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €20,308 | €20,875 | +€567 | +2.8% |
| Trade debts | 44 | €4,344 | €3,990 | -€354 | -8.2% |
| Suppliers | 440/4 | €4,344 | €3,990 | -€354 | -8.2% |
| Taxes, remuneration and social security | 45 | €1,573 | €1,439 | -€134 | -8.5% |
| Taxes | 450/3 | €1,573 | €1,439 | -€134 | -8.5% |
| Other amounts payable | 47/48 | €13,346 | €6,351 | -€6,995 | -52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,827 | €31,511 | -€316 | -1.0% |
| Other operating charges | 640/8 | €599 | €612 | +€12 | +2.1% |
| Gross operating margin | 9900 | €127,994 | €128,125 | +€132 | +0.1% |
| Operating profit (loss) | 9901 | €95,567 | €96,003 | +€436 | +0.5% |
| Financial income | 75/76B | €1,262 | €1,353 | +€90 | +7.2% |
| Recurring financial income | 75 | €1,262 | €1,353 | +€90 | +7.2% |
| Financial charges | 65/66B | €1,811 | €1,246 | -€564 | -31.2% |
| Recurring financial charges | 65 | €1,811 | €1,246 | -€564 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €95,018 | €96,109 | +€1,091 | +1.1% |
| Income taxes | 67/77 | €26,318 | €26,612 | +€294 | +1.1% |
| Profit (loss) for the period | 9904 | €68,700 | €69,497 | +€796 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €68,700 | €69,497 | +€796 | +1.2% |
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 3 October 2026 via checked.be.