Stardust Park: 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.
Stardust Park
Largest movements
- Tangible fixed assets -€91,176
down €91,176 (-33.3%), from €273,646 to €182,471
- Receivables within one year -€75,280
down €75,280 (-79.7%), from €94,498 to €19,218
of which Other amounts receivable: -€40,601
- Cash -€11,463
down €11,463 (-27.5%), from €41,638 to €30,175
mainly Net result for the year (-€281,540) and Accrued charges and deferred income (-€56,610)
- Profit (loss) carried forward -€281,540
down €281,540 (-151%), from -€186,265 to -€467,805
- Trade debts +€84,668
up €84,668 (+53.6%), from €158,106 to €242,774
- Tax, wage and social debts +€67,753
up €67,753 (+55.0%), from €123,262 to €191,015
of which Remuneration and social security: +€37,429
- Accrued charges and deferred income -€56,610
no longer reported in 2025 (was €56,610)
- Other debts +€7,256
up €7,256 (+3.9%), from €186,962 to €194,218
- Staff costs +€89,315
up €89,315 (+23.4%), from €382,223 to €471,538
- Gross operating margin -€33,279
down €33,279 (-7.6%), from €438,534 to €405,255
- Other operating charges -€15,332
down €15,332 (-34.0%), from €45,105 to €29,773
- Depreciation +€10,368
up €10,368 (+14.0%), from €74,038 to €84,406
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.
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 | €430,509 | €252,036 | -€178,473 | -41.5% |
| Fixed assets | 21/28 | €273,826 | €182,651 | -€91,176 | -33.3% |
| Tangible fixed assets | 22/27 | €273,646 | €182,471 | -€91,176 | -33.3% |
| Land and buildings | 22 | €12,061 | €5,378 | -€6,683 | -55.4% |
| Plant, machinery and equipment | 23 | €92,825 | €58,510 | -€34,315 | -37.0% |
| Furniture and vehicles | 24 | €129,122 | €84,734 | -€44,388 | -34.4% |
| Other tangible fixed assets | 26 | €39,639 | €33,849 | -€5,790 | -14.6% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €156,682 | €69,385 | -€87,297 | -55.7% |
| Stocks and contracts in progress | 3 | €18,763 | €18,763 | = | 0.0% |
| Stocks | 30/36 | €18,763 | €18,763 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €94,498 | €19,218 | -€75,280 | -79.7% |
| Trade receivables | 40 | €48,352 | €13,674 | -€34,679 | -71.7% |
| Other amounts receivable | 41 | €46,145 | €5,545 | -€40,601 | -88.0% |
| Cash at bank and in hand | 54/58 | €41,638 | €30,175 | -€11,463 | -27.5% |
| Deferred charges and accrued income | 490/1 | €1,784 | €1,229 | -€554 | -31.1% |
| Total equity and liabilities | 10/49 | €430,509 | €252,036 | -€178,473 | -41.5% |
| Equity | 10/15 | -€94,432 | -€375,972 | -€281,540 | -298% |
| Contributions | 10/11 | €62,487 | €62,487 | = | 0.0% |
| Capital | 10 | €62,487 | €62,487 | = | 0.0% |
| Issued capital | 100 | €62,487 | €62,487 | = | 0.0% |
| Reserves | 13 | €29,346 | €29,346 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €7,498 | €7,498 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€186,265 | -€467,805 | -€281,540 | -151% |
| Amounts payable | 17/49 | €524,941 | €628,008 | +€103,067 | +19.6% |
| Amounts payable within one year | 42/48 | €468,331 | €628,008 | +€159,677 | +34.1% |
| Trade debts | 44 | €158,106 | €242,774 | +€84,668 | +53.6% |
| Suppliers | 440/4 | €158,106 | €242,774 | +€84,668 | +53.6% |
| Taxes, remuneration and social security | 45 | €123,262 | €191,015 | +€67,753 | +55.0% |
| Taxes | 450/3 | €27,057 | €57,381 | +€30,323 | +112% |
| Remuneration and social security | 454/9 | €96,205 | €133,634 | +€37,429 | +38.9% |
| Other amounts payable | 47/48 | €186,962 | €194,218 | +€7,256 | +3.9% |
| Accrued charges and deferred income | 492/3 | €56,610 | - | -€56,610 | |
| Non-recurring operating income | 76A | €813 | €5,029 | +€4,216 | +519% |
| Remuneration, social security and pensions | 62 | €382,223 | €471,538 | +€89,315 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,038 | €84,406 | +€10,368 | +14.0% |
| Other operating charges | 640/8 | €45,105 | €29,773 | -€15,332 | -34.0% |
| Non-recurring operating charges | 66A | €11,753 | €74,131 | +€62,377 | +531% |
| Gross operating margin | 9900 | €438,534 | €405,255 | -€33,279 | -7.6% |
| Operating profit (loss) | 9901 | -€74,585 | -€254,592 | -€180,007 | -241% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €26,290 | €26,948 | +€658 | +2.5% |
| Recurring financial charges | 65 | €26,290 | €26,948 | +€658 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | -€100,875 | -€281,540 | -€180,665 | -179% |
| Income taxes | 67/77 | €125 | - | -€125 | |
| Profit (loss) for the period | 9904 | -€101,000 | -€281,540 | -€180,540 | -179% |
| Profit (loss) for the period to be appropriated | 9905 | -€101,000 | -€281,540 | -€180,540 | -179% |
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 28 October 2026 via checked.be.