STARLIGHT: 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.
STARLIGHT
Largest movements
- Tangible fixed assets -€125,707
down €125,707 (-15.2%), from €828,353 to €702,646
of which Land and buildings: -€70,632
- Stocks and contracts -€103,000
down €103,000 (-40.0%), from €257,400 to €154,400
- Cash -€25,300
down €25,300 (-94.2%), from €26,852 to €1,552
mainly Net result for the year (-€259,219) and Debts after one year (-€141,131)
- Receivables within one year -€17,361
down €17,361 (-91.9%), from €18,895 to €1,534
of which Other amounts receivable: -€11,468
- Profit (loss) carried forward -€259,219
down €259,219 (-52.2%), from €496,524 to €237,305
- Debts after one year -€141,131
down €141,131 (-76.2%), from €185,133 to €44,002
of which Other amounts payable: -€100,000
- Other debts +€97,961
up €97,961 (+63.9%), from €153,370 to €251,330
- Current portion of long-term debt +€14,359
up €14,359 (+166%), from €8,653 to €23,012
- Trade debts +€13,343
up €13,343 (+123%), from €10,831 to €24,174
- Gross operating margin -€256,416
down €256,416, from €160,614 to -€95,802
- Staff costs -€16,687
down €16,687 (-36.0%), from €46,350 to €29,663
- Depreciation +€4,071
up €4,071 (+3.3%), from €121,636 to €125,707
- Financial charges -€1,704
down €1,704 (-32.5%), from €5,243 to €3,539
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 | €1,133,374 | €861,275 | -€272,099 | -24.0% |
| Fixed assets | 21/28 | €828,353 | €702,646 | -€125,707 | -15.2% |
| Tangible fixed assets | 22/27 | €828,353 | €702,646 | -€125,707 | -15.2% |
| Land and buildings | 22 | €570,813 | €500,181 | -€70,632 | -12.4% |
| Plant, machinery and equipment | 23 | €60,230 | €39,414 | -€20,816 | -34.6% |
| Furniture and vehicles | 24 | €58,231 | €35,437 | -€22,794 | -39.1% |
| Other tangible fixed assets | 26 | €139,080 | €127,614 | -€11,466 | -8.2% |
| Current assets | 29/58 | €305,021 | €158,629 | -€146,392 | -48.0% |
| Stocks and contracts in progress | 3 | €257,400 | €154,400 | -€103,000 | -40.0% |
| Stocks | 30/36 | €257,400 | €154,400 | -€103,000 | -40.0% |
| Amounts receivable within one year | 40/41 | €18,895 | €1,534 | -€17,361 | -91.9% |
| Trade receivables | 40 | €7,139 | €1,246 | -€5,893 | -82.5% |
| Other amounts receivable | 41 | €11,756 | €288 | -€11,468 | -97.6% |
| Cash at bank and in hand | 54/58 | €26,852 | €1,552 | -€25,300 | -94.2% |
| Deferred charges and accrued income | 490/1 | €1,874 | €1,143 | -€731 | -39.0% |
| Total equity and liabilities | 10/49 | €1,133,374 | €861,275 | -€272,099 | -24.0% |
| Equity | 10/15 | €775,388 | €516,169 | -€259,219 | -33.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €260,271 | €260,271 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,305 | €2,305 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,305 | €2,305 | = | 0.0% |
| Distributable reserves | 133 | €257,967 | €257,967 | = | 0.0% |
| Profit (loss) carried forward | 14 | €496,524 | €237,305 | -€259,219 | -52.2% |
| Amounts payable | 17/49 | €357,986 | €345,106 | -€12,880 | -3.6% |
| Amounts payable after more than one year | 17 | €185,133 | €44,002 | -€141,131 | -76.2% |
| Financial debts | 170/4 | €85,133 | €44,002 | -€41,131 | -48.3% |
| Other amounts payable | 178/9 | €100,000 | - | -€100,000 | |
| Amounts payable within one year | 42/48 | €172,853 | €301,104 | +€128,250 | +74.2% |
| Current portion of amounts payable after more than one year | 42 | €8,653 | €23,012 | +€14,359 | +166% |
| Trade debts | 44 | €10,831 | €24,174 | +€13,343 | +123% |
| Suppliers | 440/4 | €10,831 | €24,174 | +€13,343 | +123% |
| Taxes, remuneration and social security | 45 | - | €2,588 | +€2,588 | |
| Taxes | 450/3 | - | €2,588 | +€2,588 | |
| Other amounts payable | 47/48 | €153,370 | €251,330 | +€97,961 | +63.9% |
| Non-recurring operating income | 76A | €18,000 | - | -€18,000 | |
| Remuneration, social security and pensions | 62 | €46,350 | €29,663 | -€16,687 | -36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,636 | €125,707 | +€4,071 | +3.3% |
| Other operating charges | 640/8 | €5,160 | €3,843 | -€1,317 | -25.5% |
| Gross operating margin | 9900 | €160,614 | -€95,802 | -€256,416 | |
| Operating profit (loss) | 9901 | -€12,532 | -€255,015 | -€242,483 | -1,935% |
| Financial income | 75/76B | €10 | €3 | -€7 | -71.0% |
| Recurring financial income | 75 | €10 | €3 | -€7 | -71.0% |
| Financial charges | 65/66B | €5,243 | €3,539 | -€1,704 | -32.5% |
| Recurring financial charges | 65 | €5,243 | €3,539 | -€1,704 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,765 | -€258,550 | -€240,786 | -1,355% |
| Income taxes | 67/77 | €681 | €668 | -€13 | -1.8% |
| Profit (loss) for the period | 9904 | -€18,446 | -€259,219 | -€240,773 | -1,305% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,446 | -€259,219 | -€240,773 | -1,305% |
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 20 October 2026 via checked.be.