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
- Cash -€24,273
down €24,273 (-43.6%), from €55,649 to €31,376
mainly Debts after one year (-€192,032) and Receivables within one year (-€20,814)
- Receivables within one year +€20,814
up €20,814 (+905.7%), from €2,298 to €23,112
of which Trade receivables: +€22,381
- Tangible fixed assets -€11,008
down €11,008 (-3.0%), from €367,042 to €356,034
of which Leasing and similar rights: -€9,704
- Debts after one year -€192,032
down €192,032 (-88.1%), from €217,960 to €25,928
- Other debts +€145,620
up €145,620 (+100.6%), from €144,752 to €290,372
- Reserves +€48,882
up €48,882 (+181.5%), from €26,928 to €75,810
- Current portion of long-term debt -€12,028
down €12,028 (-56.1%), from €21,440 to €9,412
- Gross operating margin +€35,150
up €35,150 (+58.6%), from €59,998 to €95,148
- Depreciation +€6,565
up €6,565 (+47.2%), from €13,897 to €20,462
- Taxes +€4,862
up €4,862 (+57.7%), from €8,433 to €13,295
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 | €425,871 | €411,618 | -€14,254 | -3.3% |
| Fixed assets | 21/28 | €367,042 | €356,034 | -€11,008 | -3.0% |
| Tangible fixed assets | 22/27 | €367,042 | €356,034 | -€11,008 | -3.0% |
| Land and buildings | 22 | €310,707 | €302,868 | -€7,839 | -2.5% |
| Plant, machinery and equipment | 23 | €12,173 | €18,709 | +€6,536 | +53.7% |
| Leasing and similar rights | 25 | €44,162 | €34,457 | -€9,704 | -22.0% |
| Current assets | 29/58 | €58,830 | €55,584 | -€3,246 | -5.5% |
| Amounts receivable within one year | 40/41 | €2,298 | €23,112 | +€20,814 | +905.7% |
| Trade receivables | 40 | €731 | €23,112 | +€22,381 | +3061.9% |
| Other amounts receivable | 41 | €1,567 | - | -€1,567 | |
| Cash at bank and in hand | 54/58 | €55,649 | €31,376 | -€24,273 | -43.6% |
| Deferred charges and accrued income | 490/1 | €883 | €1,096 | +€213 | +24.2% |
| Total equity and liabilities | 10/49 | €425,871 | €411,618 | -€14,254 | -3.3% |
| Equity | 10/15 | €28,928 | €77,810 | +€48,882 | +169.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €26,928 | €75,810 | +€48,882 | +181.5% |
| Distributable reserves | 133 | €26,928 | €75,810 | +€48,882 | +181.5% |
| Amounts payable | 17/49 | €396,943 | €333,807 | -€63,136 | -15.9% |
| Amounts payable after more than one year | 17 | €217,960 | €25,928 | -€192,032 | -88.1% |
| Financial debts | 170/4 | €217,960 | €25,928 | -€192,032 | -88.1% |
| Amounts payable within one year | 42/48 | €178,867 | €307,880 | +€129,013 | +72.1% |
| Current portion of amounts payable after more than one year | 42 | €21,440 | €9,412 | -€12,028 | -56.1% |
| Trade debts | 44 | €3,528 | €1,414 | -€2,113 | -59.9% |
| Suppliers | 440/4 | €3,528 | €1,414 | -€2,113 | -59.9% |
| Taxes, remuneration and social security | 45 | €9,146 | €6,681 | -€2,465 | -27.0% |
| Taxes | 450/3 | €9,146 | €6,681 | -€2,465 | -27.0% |
| Other amounts payable | 47/48 | €144,752 | €290,372 | +€145,620 | +100.6% |
| Accrued charges and deferred income | 492/3 | €117 | - | -€117 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,897 | €20,462 | +€6,565 | +47.2% |
| Other operating charges | 640/8 | €1,279 | €1,518 | +€240 | +18.7% |
| Gross operating margin | 9900 | €59,998 | €95,148 | +€35,150 | +58.6% |
| Operating profit (loss) | 9901 | €44,822 | €73,168 | +€28,346 | +63.2% |
| Financial charges | 65/66B | €10,617 | €10,992 | +€374 | +3.5% |
| Recurring financial charges | 65 | €10,617 | €10,992 | +€374 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €34,205 | €62,176 | +€27,972 | +81.8% |
| Income taxes | 67/77 | €8,433 | €13,295 | +€4,862 | +57.7% |
| Profit (loss) for the period | 9904 | €25,772 | €48,882 | +€23,110 | +89.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,772 | €48,882 | +€23,110 | +89.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.