STARK & PARTNERS: what changed
STARK & PARTNERS
Largest movements
- Receivables within one year +€95,239
up €95,239 (+86.0%), from €110,750 to €205,988
of which Trade receivables: +€81,377
- Cash +€57,957
up €57,957 (+55.6%), from €104,189 to €162,146
mainly Other debts (+€110,000) and Net result for the year (+€92,145)
- Tangible fixed assets -€10,727
down €10,727 (-30.5%), from €35,138 to €24,410
of which Furniture and vehicles: -€7,517
- Other debts +€110,000
new in 2025: €110,000
- Trade debts +€69,642
up €69,642 (+3,229%), from €2,157 to €71,799
- Profit (loss) carried forward -€17,855
down €17,855 (-10.4%), from €171,318 to €153,462
- Tax, wage and social debts -€8,554
down €8,554 (-16.4%), from €52,127 to €43,573
of which Taxes: -€12,648
- Debts after one year -€7,861
down €7,861 (-51.0%), from €15,415 to €7,554
- Gross operating margin +€82,130
up €82,130 (+43.1%), from €190,705 to €272,836
- Staff costs +€47,928
up €47,928 (+54.0%), from €88,783 to €136,711
- Taxes +€9,860
up €9,860 (+44.1%), from €22,376 to €32,237
- Depreciation +€4,275
up €4,275 (+62.1%), from €6,889 to €11,163
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €250,226 | €395,750 | +€145,524 | +58.2% |
| Fixed assets | 21/28 | €35,288 | €24,410 | -€10,877 | -30.8% |
| Tangible fixed assets | 22/27 | €35,138 | €24,410 | -€10,727 | -30.5% |
| Furniture and vehicles | 24 | €23,922 | €16,405 | -€7,517 | -31.4% |
| Leasing and similar rights | 25 | €11,216 | €8,006 | -€3,210 | -28.6% |
| Financial fixed assets | 28 | €150 | - | -€150 | |
| Current assets | 29/58 | €214,939 | €371,339 | +€156,401 | +72.8% |
| Amounts receivable within one year | 40/41 | €110,750 | €205,988 | +€95,239 | +86.0% |
| Trade receivables | 40 | €77,761 | €159,138 | +€81,377 | +105% |
| Other amounts receivable | 41 | €32,989 | €46,850 | +€13,862 | +42.0% |
| Cash at bank and in hand | 54/58 | €104,189 | €162,146 | +€57,957 | +55.6% |
| Deferred charges and accrued income | 490/1 | - | €3,205 | +€3,205 | |
| Total equity and liabilities | 10/49 | €250,226 | €395,750 | +€145,524 | +58.2% |
| Equity | 10/15 | €172,818 | €154,962 | -€17,855 | -10.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171,318 | €153,462 | -€17,855 | -10.4% |
| Amounts payable | 17/49 | €77,409 | €240,787 | +€163,379 | +211% |
| Amounts payable after more than one year | 17 | €15,415 | €7,554 | -€7,861 | -51.0% |
| Financial debts | 170/4 | €15,415 | €7,554 | -€7,861 | -51.0% |
| Amounts payable within one year | 42/48 | €61,994 | €233,234 | +€171,240 | +276% |
| Current portion of amounts payable after more than one year | 42 | €7,710 | €7,861 | +€151 | +2.0% |
| Trade debts | 44 | €2,157 | €71,799 | +€69,642 | +3,229% |
| Suppliers | 440/4 | €2,157 | €71,799 | +€69,642 | +3,229% |
| Taxes, remuneration and social security | 45 | €52,127 | €43,573 | -€8,554 | -16.4% |
| Taxes | 450/3 | €45,314 | €32,666 | -€12,648 | -27.9% |
| Remuneration and social security | 454/9 | €6,813 | €10,907 | +€4,094 | +60.1% |
| Other amounts payable | 47/48 | - | €110,000 | +€110,000 | |
| Remuneration, social security and pensions | 62 | €88,783 | €136,711 | +€47,928 | +54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,889 | €11,163 | +€4,275 | +62.1% |
| Other operating charges | 640/8 | €815 | €1,324 | +€509 | +62.5% |
| Gross operating margin | 9900 | €190,705 | €272,836 | +€82,130 | +43.1% |
| Operating profit (loss) | 9901 | €94,218 | €123,637 | +€29,419 | +31.2% |
| Financial income | 75/76B | €2,040 | €2,163 | +€124 | +6.1% |
| Recurring financial income | 75 | €2,040 | €2,163 | +€124 | +6.1% |
| Financial charges | 65/66B | €1,058 | €1,419 | +€360 | +34.1% |
| Recurring financial charges | 65 | €1,058 | €1,419 | +€360 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €95,200 | €124,382 | +€29,182 | +30.7% |
| Income taxes | 67/77 | €22,376 | €32,237 | +€9,860 | +44.1% |
| Profit (loss) for the period | 9904 | €72,823 | €92,145 | +€19,322 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €72,823 | €92,145 | +€19,322 | +26.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.