STARCOS: 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.
STARCOS
Largest movements
- Tangible fixed assets -€30,913
down €30,913 (-29.2%), from €105,993 to €75,080
- Cash +€4,135
up €4,135 (+80.0%), from €5,171 to €9,305
mainly Depreciation (+€30,913) and Other debts (+€9,079)
- Receivables within one year -€3,879
down €3,879 (-78.7%), from €4,932 to €1,053
of which Trade receivables: -€4,186
- Debts after one year -€23,303
down €23,303 (-64.1%), from €36,343 to €13,040
- Profit (loss) carried forward -€14,592
down €14,592 (-15.3%), from -€95,576 to -€110,168
- Other debts +€9,079
up €9,079 (+9.9%), from €91,751 to €100,830
- Tax, wage and social debts -€2,815
down €2,815 (-70.5%), from €3,990 to €1,175
- Trade debts +€2,416
up €2,416 (+77.3%), from €3,126 to €5,542
- Depreciation -€1,975
down €1,975 (-6.0%), from €32,888 to €30,913
- Gross operating margin -€1,885
down €1,885 (-8.0%), from €23,499 to €21,614
- Financial charges -€999
down €999 (-31.9%), from €3,127 to €2,129
- Other operating charges -€259
down €259 (-8.2%), from €3,181 to €2,921
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 | €125,892 | €96,017 | -€29,875 | -23.7% |
| Fixed assets | 21/28 | €111,230 | €80,317 | -€30,913 | -27.8% |
| Tangible fixed assets | 22/27 | €105,993 | €75,080 | -€30,913 | -29.2% |
| Land and buildings | 22 | €75,311 | €63,613 | -€11,698 | -15.5% |
| Plant, machinery and equipment | 23 | €19,624 | €7,806 | -€11,818 | -60.2% |
| Furniture and vehicles | 24 | €11,059 | €3,661 | -€7,397 | -66.9% |
| Financial fixed assets | 28 | €5,237 | €5,237 | = | 0.0% |
| Current assets | 29/58 | €14,662 | €15,700 | +€1,038 | +7.1% |
| Stocks and contracts in progress | 3 | €3,908 | €4,007 | +€99 | +2.5% |
| Stocks | 30/36 | €3,908 | €4,007 | +€99 | +2.5% |
| Amounts receivable within one year | 40/41 | €4,932 | €1,053 | -€3,879 | -78.7% |
| Trade receivables | 40 | €4,914 | €728 | -€4,186 | -85.2% |
| Other amounts receivable | 41 | €18 | €325 | +€307 | +1708.8% |
| Cash at bank and in hand | 54/58 | €5,171 | €9,305 | +€4,135 | +80.0% |
| Deferred charges and accrued income | 490/1 | €652 | €1,335 | +€683 | +104.9% |
| Total equity and liabilities | 10/49 | €125,892 | €96,017 | -€29,875 | -23.7% |
| Equity | 10/15 | -€35,075 | -€49,666 | -€14,592 | -41.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €41,909 | €41,909 | = | 0.0% |
| Distributable reserves | 133 | €41,909 | €41,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,576 | -€110,168 | -€14,592 | -15.3% |
| Amounts payable | 17/49 | €160,967 | €145,683 | -€15,284 | -9.5% |
| Amounts payable after more than one year | 17 | €36,343 | €13,040 | -€23,303 | -64.1% |
| Financial debts | 170/4 | €36,343 | €13,040 | -€23,303 | -64.1% |
| Amounts payable within one year | 42/48 | €124,624 | €132,644 | +€8,019 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €23,963 | €23,303 | -€660 | -2.8% |
| Trade debts | 44 | €3,126 | €5,542 | +€2,416 | +77.3% |
| Suppliers | 440/4 | €3,126 | €5,542 | +€2,416 | +77.3% |
| Advances received on contracts in progress | 46 | €1,793 | €1,793 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,990 | €1,175 | -€2,815 | -70.5% |
| Taxes | 450/3 | €3,990 | €1,175 | -€2,815 | -70.5% |
| Other amounts payable | 47/48 | €91,751 | €100,830 | +€9,079 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,888 | €30,913 | -€1,975 | -6.0% |
| Other operating charges | 640/8 | €3,181 | €2,921 | -€259 | -8.2% |
| Gross operating margin | 9900 | €23,499 | €21,614 | -€1,885 | -8.0% |
| Operating profit (loss) | 9901 | -€12,570 | -€12,220 | +€350 | +2.8% |
| Financial income | 75/76B | €7 | €39 | +€32 | +431.2% |
| Recurring financial income | 75 | €7 | €39 | +€32 | +431.2% |
| Financial charges | 65/66B | €3,127 | €2,129 | -€999 | -31.9% |
| Recurring financial charges | 65 | €3,127 | €2,129 | -€999 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | -€15,690 | -€14,310 | +€1,380 | +8.8% |
| Income taxes | 67/77 | €295 | €282 | -€13 | -4.3% |
| Profit (loss) for the period | 9904 | -€15,984 | -€14,592 | +€1,393 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,984 | -€14,592 | +€1,393 | +8.7% |
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 1 October 2026 via checked.be.