STARLET: 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.
STARLET
Largest movements
- Receivables within one year +€45,393
up €45,393 (+1619.5%), from €2,803 to €48,196
of which Trade receivables: +€46,970
- Tangible fixed assets +€28,788
up €28,788 (+63.8%), from €45,094 to €73,881
of which Furniture and vehicles: +€29,310
- Financial fixed assets +€14,000
new in 2025: €14,000
- Cash +€2,422
up €2,422 (+30.3%), from €7,993 to €10,415
mainly Other debts (+€51,845) and Net result for the year (+€21,402)
- Stocks and contracts -€2,036
down €2,036 (-41.3%), from €4,933 to €2,898
- Other debts +€51,845
up €51,845 (+152.5%), from €33,999 to €85,844
- Reserves +€19,851
up €19,851 (+1293.4%), from €1,535 to €21,386
of which Distributable reserves: +€19,851
- Tax, wage and social debts +€18,256
up €18,256 (+1170228.2%), from €2 to €18,257
of which Taxes: +€14,756
- Trade debts -€3,209
down €3,209 (-37.7%), from €8,512 to €5,303
- Profit (loss) carried forward +€1,551
no longer reported in 2025 (was -€1,551)
- Gross operating margin +€28,361
up €28,361 (+187.0%), from €15,164 to €43,525
- Depreciation +€8,471
up €8,471 (+116.2%), from €7,290 to €15,761
- Taxes +€4,051
new in 2025: €4,051
- Other operating charges +€776
up €776 (+68.3%), from €1,136 to €1,912
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 | €61,096 | €149,390 | +€88,294 | +144.5% |
| Fixed assets | 21/28 | €45,094 | €87,881 | +€42,788 | +94.9% |
| Tangible fixed assets | 22/27 | €45,094 | €73,881 | +€28,788 | +63.8% |
| Plant, machinery and equipment | 23 | €24,837 | €24,315 | -€522 | -2.1% |
| Furniture and vehicles | 24 | €20,256 | €49,566 | +€29,310 | +144.7% |
| Financial fixed assets | 28 | - | €14,000 | +€14,000 | |
| Current assets | 29/58 | €16,003 | €61,509 | +€45,506 | +284.4% |
| Stocks and contracts in progress | 3 | €4,933 | €2,898 | -€2,036 | -41.3% |
| Stocks | 30/36 | €4,933 | €2,898 | -€2,036 | -41.3% |
| Amounts receivable within one year | 40/41 | €2,803 | €48,196 | +€45,393 | +1619.5% |
| Trade receivables | 40 | €622 | €47,593 | +€46,970 | +7546.8% |
| Other amounts receivable | 41 | €2,181 | €604 | -€1,577 | -72.3% |
| Cash at bank and in hand | 54/58 | €7,993 | €10,415 | +€2,422 | +30.3% |
| Deferred charges and accrued income | 490/1 | €274 | - | -€274 | |
| Total equity and liabilities | 10/49 | €61,096 | €149,390 | +€88,294 | +144.5% |
| Equity | 10/15 | €18,584 | €39,986 | +€21,402 | +115.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,535 | €21,386 | +€19,851 | +1293.4% |
| Non-distributable reserves | 130/1 | €1,535 | €1,535 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,535 | €1,535 | = | 0.0% |
| Distributable reserves | 133 | - | €19,851 | +€19,851 | |
| Profit (loss) carried forward | 14 | -€1,551 | - | +€1,551 | |
| Amounts payable | 17/49 | €42,512 | €109,404 | +€66,892 | +157.3% |
| Amounts payable within one year | 42/48 | €42,512 | €109,404 | +€66,892 | +157.3% |
| Trade debts | 44 | €8,512 | €5,303 | -€3,209 | -37.7% |
| Suppliers | 440/4 | €8,512 | €5,303 | -€3,209 | -37.7% |
| Taxes, remuneration and social security | 45 | €2 | €18,257 | +€18,256 | +1170228.2% |
| Taxes | 450/3 | €2 | €14,757 | +€14,756 | +945869.2% |
| Remuneration and social security | 454/9 | - | €3,500 | +€3,500 | |
| Other amounts payable | 47/48 | €33,999 | €85,844 | +€51,845 | +152.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,290 | €15,761 | +€8,471 | +116.2% |
| Other operating charges | 640/8 | €1,136 | €1,912 | +€776 | +68.3% |
| Gross operating margin | 9900 | €15,164 | €43,525 | +€28,361 | +187.0% |
| Operating profit (loss) | 9901 | €6,738 | €25,851 | +€19,114 | +283.7% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €153 | €398 | +€245 | +159.6% |
| Recurring financial charges | 65 | €153 | €398 | +€245 | +159.6% |
| Profit (loss) for the period before taxes | 9903 | €6,587 | €25,453 | +€18,866 | +286.4% |
| Income taxes | 67/77 | - | €4,051 | +€4,051 | |
| Profit (loss) for the period | 9904 | €6,587 | €21,402 | +€14,815 | +224.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,587 | €21,402 | +€14,815 | +224.9% |
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 11 October 2026 via checked.be.