STARJO: 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.
STARJO
Largest movements
- Cash +€74,172
up €74,172 (+211.1%), from €35,139 to €109,311
mainly Net result for the year (+€86,105) and Tax, wage and social debts (+€21,545)
- Receivables within one year +€13,042
up €13,042 (+18.8%), from €69,430 to €82,472
of which Trade receivables: +€13,042
- Tangible fixed assets -€3,941
down €3,941 (-26.8%), from €14,688 to €10,747
of which Plant, machinery and equipment: -€3,326
- Reserves +€64,675
up €64,675 (+35.4%), from €182,684 to €247,359
- Tax, wage and social debts +€21,545
up €21,545 (+210.5%), from €10,236 to €31,781
- Current portion of long-term debt -€5,000
no longer reported in 2025 (was €5,000)
- Trade debts +€4,510
up €4,510 (+135.1%), from €3,339 to €7,849
- Gross operating margin +€61,256
up €61,256 (+85.0%), from €72,071 to €133,327
- Taxes +€20,644
up €20,644 (+114.1%), from €18,086 to €38,730
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 | €220,291 | €305,648 | +€85,357 | +38.7% |
| Fixed assets | 21/28 | €14,688 | €10,747 | -€3,941 | -26.8% |
| Tangible fixed assets | 22/27 | €14,688 | €10,747 | -€3,941 | -26.8% |
| Land and buildings | 22 | €1,942 | €1,709 | -€233 | -12.0% |
| Plant, machinery and equipment | 23 | €8,680 | €5,354 | -€3,326 | -38.3% |
| Furniture and vehicles | 24 | €4,066 | €3,684 | -€382 | -9.4% |
| Current assets | 29/58 | €205,603 | €294,901 | +€89,298 | +43.4% |
| Amounts receivable within one year | 40/41 | €69,430 | €82,472 | +€13,042 | +18.8% |
| Trade receivables | 40 | €66,516 | €79,557 | +€13,042 | +19.6% |
| Other amounts receivable | 41 | €2,914 | €2,914 | = | 0.0% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,139 | €109,311 | +€74,172 | +211.1% |
| Deferred charges and accrued income | 490/1 | €1,034 | €3,118 | +€2,084 | +201.6% |
| Total equity and liabilities | 10/49 | €220,291 | €305,648 | +€85,357 | +38.7% |
| Equity | 10/15 | €201,284 | €265,959 | +€64,675 | +32.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €182,684 | €247,359 | +€64,675 | +35.4% |
| Distributable reserves | 133 | €182,684 | €247,359 | +€64,675 | +35.4% |
| Amounts payable | 17/49 | €19,008 | €39,690 | +€20,682 | +108.8% |
| Amounts payable within one year | 42/48 | €18,842 | €39,690 | +€20,847 | +110.6% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | - | -€5,000 | |
| Trade debts | 44 | €3,339 | €7,849 | +€4,510 | +135.1% |
| Suppliers | 440/4 | €3,339 | €7,849 | +€4,510 | +135.1% |
| Taxes, remuneration and social security | 45 | €10,236 | €31,781 | +€21,545 | +210.5% |
| Taxes | 450/3 | €10,236 | €31,781 | +€21,545 | +210.5% |
| Other amounts payable | 47/48 | €267 | €59 | -€208 | -77.9% |
| Accrued charges and deferred income | 492/3 | €165 | - | -€165 | |
| Non-recurring operating income | 76A | - | €29,423 | +€29,423 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,369 | €5,381 | +€12 | +0.2% |
| Other operating charges | 640/8 | €888 | €1,230 | +€342 | +38.5% |
| Non-recurring operating charges | 66A | €328 | - | -€328 | |
| Gross operating margin | 9900 | €72,071 | €133,327 | +€61,256 | +85.0% |
| Operating profit (loss) | 9901 | €65,487 | €126,716 | +€61,229 | +93.5% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €1,496 | €1,882 | +€385 | +25.8% |
| Recurring financial charges | 65 | €1,496 | €1,882 | +€385 | +25.8% |
| Profit (loss) for the period before taxes | 9903 | €63,995 | €124,835 | +€60,840 | +95.1% |
| Income taxes | 67/77 | €18,086 | €38,730 | +€20,644 | +114.1% |
| Profit (loss) for the period | 9904 | €45,909 | €86,105 | +€40,196 | +87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,909 | €86,105 | +€40,196 | +87.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.