STARFISH: 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.
STARFISH
Largest movements
- Tangible fixed assets -€52,444
down €52,444 (-4.7%), from €1.1m to €1.1m
of which Land and buildings: -€51,964
- Cash +€18,887
up €18,887 (+5.5%), from €342,181 to €361,069
mainly Depreciation (+€52,444) and Other debts (+€36,722)
- Other debts +€36,722
up €36,722 (+8.9%), from €414,041 to €450,763
- Reserves -€26,986
down €26,986 (-8.3%), from €324,813 to €297,826
of which Distributable reserves: -€26,986
- Gross operating margin -€10,910
down €10,910 (-24.2%), from €45,095 to €34,186
- Other operating charges +€1,031
up €1,031 (+13.2%), from €7,830 to €8,860
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 | €1,679,000 | €1,676,986 | -€2,014 | -0.1% |
| Fixed assets | 21/28 | €1,117,892 | €1,065,448 | -€52,444 | -4.7% |
| Tangible fixed assets | 22/27 | €1,117,892 | €1,065,448 | -€52,444 | -4.7% |
| Land and buildings | 22 | €1,116,684 | €1,064,720 | -€51,964 | -4.7% |
| Furniture and vehicles | 24 | €1,209 | €729 | -€480 | -39.7% |
| Current assets | 29/58 | €561,107 | €611,538 | +€50,430 | +9.0% |
| Amounts receivable within one year | 40/41 | €9,382 | €25,344 | +€15,962 | +170.1% |
| Trade receivables | 40 | - | €14,000 | +€14,000 | |
| Other amounts receivable | 41 | €9,382 | €11,344 | +€1,962 | +20.9% |
| Current investments | 50/53 | €200,128 | €200,128 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €342,181 | €361,069 | +€18,887 | +5.5% |
| Deferred charges and accrued income | 490/1 | €9,416 | €24,997 | +€15,581 | +165.5% |
| Total equity and liabilities | 10/49 | €1,679,000 | €1,676,986 | -€2,014 | -0.1% |
| Equity | 10/15 | €622,285 | €595,299 | -€26,986 | -4.3% |
| Contributions | 10/11 | €297,472 | €297,472 | = | 0.0% |
| Capital | 10 | €297,472 | €297,472 | = | 0.0% |
| Issued capital | 100 | €297,472 | €297,472 | = | 0.0% |
| Reserves | 13 | €324,813 | €297,826 | -€26,986 | -8.3% |
| Non-distributable reserves | 130/1 | €29,747 | €29,747 | = | 0.0% |
| Legal reserve | 130 | €29,747 | €29,747 | = | 0.0% |
| Distributable reserves | 133 | €295,066 | €268,079 | -€26,986 | -9.1% |
| Amounts payable | 17/49 | €1,056,715 | €1,081,688 | +€24,973 | +2.4% |
| Amounts payable after more than one year | 17 | €630,000 | €630,000 | = | 0.0% |
| Financial debts | 170/4 | €630,000 | €630,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €426,715 | €451,688 | +€24,973 | +5.9% |
| Trade debts | 44 | €11,886 | €347 | -€11,540 | -97.1% |
| Suppliers | 440/4 | €11,886 | €347 | -€11,540 | -97.1% |
| Taxes, remuneration and social security | 45 | €788 | €578 | -€210 | -26.6% |
| Taxes | 450/3 | €788 | €578 | -€210 | -26.6% |
| Other amounts payable | 47/48 | €414,041 | €450,763 | +€36,722 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,444 | €52,444 | +€0 | 0.0% |
| Other operating charges | 640/8 | €7,830 | €8,860 | +€1,031 | +13.2% |
| Gross operating margin | 9900 | €45,095 | €34,186 | -€10,910 | -24.2% |
| Operating profit (loss) | 9901 | -€15,178 | -€27,119 | -€11,941 | -78.7% |
| Financial income | 75/76B | €304 | €437 | +€133 | +43.9% |
| Recurring financial income | 75 | €304 | €437 | +€133 | +43.9% |
| Financial charges | 65/66B | €39 | €56 | +€17 | +44.0% |
| Recurring financial charges | 65 | €39 | €56 | +€17 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,914 | -€26,738 | -€11,824 | -79.3% |
| Income taxes | 67/77 | €308 | €248 | -€60 | -19.5% |
| Profit (loss) for the period | 9904 | -€15,222 | -€26,986 | -€11,764 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,222 | -€26,986 | -€11,764 | -77.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.