STARFLAM: 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.
STARFLAM
Largest movements
- Receivables within one year -€248,992
down €248,992 (-33.5%), from €742,439 to €493,447
of which Other amounts receivable: -€253,024
- Tangible fixed assets -€157,066
down €157,066 (-13.8%), from €1.1m to €983,604
of which Other tangible fixed assets: -€159,191
- Stocks and contracts -€155,407
down €155,407 (-10.4%), from €1.5m to €1.3m
- Tax, wage and social debts -€506,258
down €506,258 (-78.3%), from €646,846 to €140,588
of which Taxes: -€398,842
- Reserves -€300,000
down €300,000 (-36.2%), from €828,846 to €528,846
of which Distributable reserves: -€300,000
- Trade debts +€295,385
up €295,385 (+148%), from €199,221 to €494,606
- Other debts +€267,261
up €267,261 (+48.5%), from €551,398 to €818,658
- Profit (loss) carried forward -€215,508
down €215,508 (-92.1%), from €233,952 to €18,443
- Staff costs +€566,801
up €566,801 (+52.6%), from €1.1m to €1.6m
- Gross operating margin +€275,902
up €275,902 (+22.2%), from €1.2m to €1.5m
- Other operating charges +€187,364
up €187,364 (+10,893%), from €1,720 to €189,084
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 | €3,490,907 | €2,915,301 | -€575,605 | -16.5% |
| Fixed assets | 21/28 | €1,143,517 | €986,451 | -€157,066 | -13.7% |
| Tangible fixed assets | 22/27 | €1,140,670 | €983,604 | -€157,066 | -13.8% |
| Plant, machinery and equipment | 23 | €1,416 | €4,193 | +€2,777 | +196% |
| Furniture and vehicles | 24 | €1,087 | €434 | -€652 | -60.0% |
| Other tangible fixed assets | 26 | €1,138,168 | €978,977 | -€159,191 | -14.0% |
| Financial fixed assets | 28 | €2,847 | €2,847 | = | 0.0% |
| Current assets | 29/58 | €2,347,389 | €1,928,850 | -€418,539 | -17.8% |
| Stocks and contracts in progress | 3 | €1,499,565 | €1,344,157 | -€155,407 | -10.4% |
| Stocks | 30/36 | €1,499,565 | €1,344,157 | -€155,407 | -10.4% |
| Amounts receivable within one year | 40/41 | €742,439 | €493,447 | -€248,992 | -33.5% |
| Trade receivables | 40 | €436,573 | €440,605 | +€4,033 | +0.9% |
| Other amounts receivable | 41 | €305,866 | €52,842 | -€253,024 | -82.7% |
| Cash at bank and in hand | 54/58 | €74,765 | €69,985 | -€4,780 | -6.4% |
| Deferred charges and accrued income | 490/1 | €30,620 | €21,261 | -€9,360 | -30.6% |
| Total equity and liabilities | 10/49 | €3,490,907 | €2,915,301 | -€575,605 | -16.5% |
| Equity | 10/15 | €1,186,798 | €671,289 | -€515,508 | -43.4% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €828,846 | €528,846 | -€300,000 | -36.2% |
| Non-distributable reserves | 130/1 | €28,846 | €28,846 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,446 | €16,446 | = | 0.0% |
| Distributable reserves | 133 | €800,000 | €500,000 | -€300,000 | -37.5% |
| Profit (loss) carried forward | 14 | €233,952 | €18,443 | -€215,508 | -92.1% |
| Amounts payable | 17/49 | €2,304,109 | €2,244,012 | -€60,097 | -2.6% |
| Amounts payable after more than one year | 17 | €291,936 | €280,227 | -€11,710 | -4.0% |
| Financial debts | 170/4 | €291,936 | €280,227 | -€11,710 | -4.0% |
| Amounts payable within one year | 42/48 | €2,012,172 | €1,962,418 | -€49,755 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €11,710 | €11,710 | = | 0.0% |
| Financial debts | 43 | €500,000 | €490,000 | -€10,000 | -2.0% |
| Credit institutions | 430/8 | €500,000 | €490,000 | -€10,000 | -2.0% |
| Trade debts | 44 | €199,221 | €494,606 | +€295,385 | +148% |
| Suppliers | 440/4 | €199,221 | €494,606 | +€295,385 | +148% |
| Advances received on contracts in progress | 46 | €102,998 | €6,855 | -€96,143 | -93.3% |
| Taxes, remuneration and social security | 45 | €646,846 | €140,588 | -€506,258 | -78.3% |
| Taxes | 450/3 | €451,242 | €52,399 | -€398,842 | -88.4% |
| Remuneration and social security | 454/9 | €195,604 | €88,189 | -€107,415 | -54.9% |
| Other amounts payable | 47/48 | €551,398 | €818,658 | +€267,261 | +48.5% |
| Accrued charges and deferred income | 492/3 | - | €1,368 | +€1,368 | |
| Remuneration, social security and pensions | 62 | €1,076,765 | €1,643,566 | +€566,801 | +52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,347 | €161,032 | +€4,685 | +3.0% |
| Other operating charges | 640/8 | €1,720 | €189,084 | +€187,364 | +10,893% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,245,497 | €1,521,399 | +€275,902 | +22.2% |
| Operating profit (loss) | 9901 | €10,665 | -€472,284 | -€482,949 | |
| Financial income | 75/76B | €494 | €564 | +€70 | +14.2% |
| Recurring financial income | 75 | €494 | €564 | +€70 | +14.2% |
| Financial charges | 65/66B | €42,160 | €42,296 | +€136 | +0.3% |
| Recurring financial charges | 65 | €42,160 | €42,296 | +€136 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | -€31,002 | -€514,017 | -€483,014 | -1,558% |
| Income taxes | 67/77 | €2,332 | €1,492 | -€840 | -36.0% |
| Profit (loss) for the period | 9904 | -€33,335 | -€515,508 | -€482,174 | -1,446% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,335 | -€515,508 | -€482,174 | -1,446% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.