STARK: 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.
STARK
Largest movements
- Cash -€886,873
down €886,873 (-98.2%), from €903,013 to €16,140
mainly Other debts (-€624,621) and Contributions, distributions and other (-€311,086)
- Receivables after one year -€277,941
no longer reported in 2025 (was €277,941)
- Deferred charges and accrued income +€209,226
up €209,226 (+27,016%), from €774 to €210,000
- Receivables within one year +€43,503
up €43,503 (+276%), from €15,771 to €59,273
of which Other amounts receivable: +€43,503
- Other debts -€624,621
no longer reported in 2025 (was €624,621)
- Reserves -€159,838
down €159,838 (-46.4%), from €344,559 to €184,720
of which Distributable reserves: -€159,838
- Accrued charges and deferred income -€140,589
down €140,589 (-53.5%), from €262,827 to €122,238
- Financial charges -€276,367
down €276,367 (-44.7%), from €618,306 to €341,939
- Gross operating margin -€268,042
down €268,042 (-35.6%), from €753,945 to €485,903
- Financial income +€33,824
up €33,824 (+89.7%), from €37,728 to €71,551
- Taxes +€11,767
up €11,767 (+30.2%), from €38,942 to €50,710
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 | €1,233,514 | €312,811 | -€920,703 | -74.6% |
| Fixed assets | 21/28 | €36,015 | €27,398 | -€8,617 | -23.9% |
| Tangible fixed assets | 22/27 | €36,015 | €27,398 | -€8,617 | -23.9% |
| Plant, machinery and equipment | 23 | €8,797 | €8,564 | -€233 | -2.7% |
| Furniture and vehicles | 24 | €27,217 | €18,834 | -€8,383 | -30.8% |
| Current assets | 29/58 | €1,197,499 | €285,413 | -€912,086 | -76.2% |
| Amounts receivable after more than one year | 29 | €277,941 | - | -€277,941 | |
| Other amounts receivable | 291 | €277,941 | - | -€277,941 | |
| Amounts receivable within one year | 40/41 | €15,771 | €59,273 | +€43,503 | +276% |
| Trade receivables | 40 | €3,370 | €3,370 | = | 0.0% |
| Other amounts receivable | 41 | €12,401 | €55,904 | +€43,503 | +351% |
| Cash at bank and in hand | 54/58 | €903,013 | €16,140 | -€886,873 | -98.2% |
| Deferred charges and accrued income | 490/1 | €774 | €210,000 | +€209,226 | +27,016% |
| Total equity and liabilities | 10/49 | €1,233,514 | €312,811 | -€920,703 | -74.6% |
| Equity | 10/15 | €344,559 | €184,720 | -€159,838 | -46.4% |
| Reserves | 13 | €344,559 | €184,720 | -€159,838 | -46.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €342,699 | €182,860 | -€159,838 | -46.6% |
| Amounts payable | 17/49 | €888,955 | €128,091 | -€760,864 | -85.6% |
| Amounts payable within one year | 42/48 | €626,128 | €5,853 | -€620,275 | -99.1% |
| Trade debts | 44 | €1,507 | €5,853 | +€4,346 | +288% |
| Suppliers | 440/4 | €1,507 | €5,853 | +€4,346 | +288% |
| Other amounts payable | 47/48 | €624,621 | - | -€624,621 | |
| Accrued charges and deferred income | 492/3 | €262,827 | €122,238 | -€140,589 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,735 | €13,368 | -€367 | -2.7% |
| Other operating charges | 640/8 | - | €190 | +€190 | |
| Gross operating margin | 9900 | €753,945 | €485,903 | -€268,042 | -35.6% |
| Operating profit (loss) | 9901 | €740,210 | €472,345 | -€267,865 | -36.2% |
| Financial income | 75/76B | €37,728 | €71,551 | +€33,824 | +89.7% |
| Recurring financial income | 75 | €37,728 | €71,551 | +€33,824 | +89.7% |
| Financial charges | 65/66B | €618,306 | €341,939 | -€276,367 | -44.7% |
| Recurring financial charges | 65 | €618,306 | €341,939 | -€276,367 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | €159,632 | €201,957 | +€42,326 | +26.5% |
| Income taxes | 67/77 | €38,942 | €50,710 | +€11,767 | +30.2% |
| Profit (loss) for the period | 9904 | €120,689 | €151,248 | +€30,559 | +25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €120,689 | €151,248 | +€30,559 | +25.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.