STARFRESH DIRECT: 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.
STARFRESH DIRECT
Largest movements
- Receivables within one year -€634,603
down €634,603 (-24.2%), from €2.6m to €2.0m
of which Trade receivables: -€622,232
- Tangible fixed assets -€61,210
down €61,210 (-8.8%), from €695,730 to €634,520
- Trade debts -€1.2m
down €1.2m (-34.4%), from €3.5m to €2.3m
- Other debts +€474,433
up €474,433 (+650%), from €73,002 to €547,435
- Profit (loss) carried forward +€49,399
up €49,399 (+11.7%), from -€421,605 to -€372,206
- Gross operating margin +€201,611
up €201,611 (+1,042%), from €19,349 to €220,960
- Depreciation +€121,231
up €121,231 (+244%), from €49,590 to €170,821
- Other operating charges -€10,262
down €10,262 (-87.5%), from €11,729 to €1,467
- Write-downs +€9,233
no longer reported in 2025 (was -€9,233)
- Financial charges -€7,252
down €7,252 (-55.3%), from €13,111 to €5,859
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,317,985 | €2,635,498 | -€682,487 | -20.6% |
| Fixed assets | 21/28 | €695,730 | €634,520 | -€61,210 | -8.8% |
| Tangible fixed assets | 22/27 | €695,730 | €634,520 | -€61,210 | -8.8% |
| Plant, machinery and equipment | 23 | €695,730 | €634,520 | -€61,210 | -8.8% |
| Current assets | 29/58 | €2,622,255 | €2,000,978 | -€621,277 | -23.7% |
| Amounts receivable within one year | 40/41 | €2,622,255 | €1,987,652 | -€634,603 | -24.2% |
| Trade receivables | 40 | €2,597,595 | €1,975,362 | -€622,232 | -24.0% |
| Other amounts receivable | 41 | €24,661 | €12,290 | -€12,371 | -50.2% |
| Deferred charges and accrued income | 490/1 | - | €13,326 | +€13,326 | |
| Total equity and liabilities | 10/49 | €3,317,985 | €2,635,498 | -€682,487 | -20.6% |
| Equity | 10/15 | -€249,594 | -€200,195 | +€49,399 | +19.8% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €48,063 | €48,063 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,669 | €35,669 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€421,605 | -€372,206 | +€49,399 | +11.7% |
| Amounts payable | 17/49 | €3,567,580 | €2,835,694 | -€731,886 | -20.5% |
| Amounts payable within one year | 42/48 | €3,556,573 | €2,831,798 | -€724,775 | -20.4% |
| Trade debts | 44 | €3,483,571 | €2,284,363 | -€1.2m | -34.4% |
| Suppliers | 440/4 | €3,483,571 | €2,284,363 | -€1.2m | -34.4% |
| Other amounts payable | 47/48 | €73,002 | €547,435 | +€474,433 | +650% |
| Accrued charges and deferred income | 492/3 | €11,007 | €3,896 | -€7,112 | -64.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,590 | €170,821 | +€121,231 | +244% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,233 | - | +€9,233 | |
| Other operating charges | 640/8 | €11,729 | €1,467 | -€10,262 | -87.5% |
| Gross operating margin | 9900 | €19,349 | €220,960 | +€201,611 | +1,042% |
| Operating profit (loss) | 9901 | -€32,737 | €48,671 | +€81,409 | |
| Financial income | 75/76B | €137 | €6,587 | +€6,450 | +4,723% |
| Recurring financial income | 75 | €137 | €6,587 | +€6,450 | +4,723% |
| Financial charges | 65/66B | €13,111 | €5,859 | -€7,252 | -55.3% |
| Recurring financial charges | 65 | €13,111 | €5,859 | -€7,252 | -55.3% |
| Profit (loss) for the period before taxes | 9903 | -€45,712 | €49,399 | +€95,111 | |
| Profit (loss) for the period | 9904 | -€45,712 | €49,399 | +€95,111 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,712 | €49,399 | +€95,111 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.