STARLING TRANS: 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.
STARLING TRANS
Largest movements
- Tangible fixed assets -€98,068
down €98,068 (-33.2%), from €295,199 to €197,132
of which Furniture and vehicles: -€84,969
- Receivables within one year +€54,727
up €54,727 (+16.6%), from €330,323 to €385,050
of which Trade receivables: +€48,702
- Cash -€28,739
down €28,739 (-87.2%), from €32,964 to €4,225
mainly Trade debts (-€122,968) and Receivables within one year (-€54,727)
- Advances received +€131,439
new in 2025: €131,439
- Trade debts -€122,968
down €122,968 (-26.0%), from €473,849 to €350,881
- Other debts -€47,090
down €47,090 (-47.3%), from €99,618 to €52,528
- Revaluation surpluses -€43,750
down €43,750 (-40.7%), from €107,500 to €63,750
- Reserves +€43,750
up €43,750 (+12.0%), from €365,111 to €408,861
of which Non-distributable reserves: +€43,750
- Gross operating margin +€170,800
up €170,800 (+38.9%), from €438,560 to €609,360
- Staff costs +€84,970
up €84,970 (+29.0%), from €292,525 to €377,495
- Other operating charges +€49,908
up €49,908 (+362.9%), from €13,754 to €63,662
- Depreciation -€16,882
down €16,882 (-11.7%), from €143,856 to €126,975
- Financial charges +€9,157
up €9,157 (+32.2%), from €28,418 to €37,575
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 | €913,965 | €841,885 | -€72,080 | -7.9% |
| Fixed assets | 21/28 | €300,169 | €202,102 | -€98,068 | -32.7% |
| Tangible fixed assets | 22/27 | €295,199 | €197,132 | -€98,068 | -33.2% |
| Land and buildings | 22 | €77,033 | €67,685 | -€9,349 | -12.1% |
| Plant, machinery and equipment | 23 | €1,632 | €500 | -€1,132 | -69.3% |
| Furniture and vehicles | 24 | €213,915 | €128,946 | -€84,969 | -39.7% |
| Leasing and similar rights | 25 | €2,619 | - | -€2,619 | |
| Financial fixed assets | 28 | €4,970 | €4,970 | = | 0.0% |
| Current assets | 29/58 | €613,796 | €639,784 | +€25,988 | +4.2% |
| Amounts receivable after more than one year | 29 | €190,000 | €190,000 | = | 0.0% |
| Other amounts receivable | 291 | €190,000 | €190,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €39,050 | €39,050 | = | 0.0% |
| Stocks | 30/36 | €39,050 | €39,050 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €330,323 | €385,050 | +€54,727 | +16.6% |
| Trade receivables | 40 | €299,270 | €347,972 | +€48,702 | +16.3% |
| Other amounts receivable | 41 | €31,053 | €37,078 | +€6,024 | +19.4% |
| Cash at bank and in hand | 54/58 | €32,964 | €4,225 | -€28,739 | -87.2% |
| Deferred charges and accrued income | 490/1 | €21,458 | €21,458 | = | 0.0% |
| Total equity and liabilities | 10/49 | €913,965 | €841,885 | -€72,080 | -7.9% |
| Equity | 10/15 | €46,434 | €62,117 | +€15,683 | +33.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €107,500 | €63,750 | -€43,750 | -40.7% |
| Reserves | 13 | €365,111 | €408,861 | +€43,750 | +12.0% |
| Non-distributable reserves | 130/1 | €69,360 | €113,110 | +€43,750 | +63.1% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €67,500 | €111,250 | +€43,750 | +64.8% |
| Distributable reserves | 133 | €295,751 | €295,751 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€444,777 | -€429,094 | +€15,683 | +3.5% |
| Amounts payable | 17/49 | €867,531 | €779,769 | -€87,763 | -10.1% |
| Amounts payable after more than one year | 17 | €56,421 | €49,772 | -€6,650 | -11.8% |
| Financial debts | 170/4 | €56,421 | €49,772 | -€6,650 | -11.8% |
| Amounts payable within one year | 42/48 | €811,110 | €729,997 | -€81,113 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €199,296 | €156,650 | -€42,646 | -21.4% |
| Trade debts | 44 | €473,849 | €350,881 | -€122,968 | -26.0% |
| Suppliers | 440/4 | €473,849 | €350,881 | -€122,968 | -26.0% |
| Advances received on contracts in progress | 46 | - | €131,439 | +€131,439 | |
| Taxes, remuneration and social security | 45 | €38,348 | €38,500 | +€152 | +0.4% |
| Taxes | 450/3 | €5,941 | €3,340 | -€2,600 | -43.8% |
| Remuneration and social security | 454/9 | €32,407 | €35,160 | +€2,753 | +8.5% |
| Other amounts payable | 47/48 | €99,618 | €52,528 | -€47,090 | -47.3% |
| Remuneration, social security and pensions | 62 | €292,525 | €377,495 | +€84,970 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,856 | €126,975 | -€16,882 | -11.7% |
| Other operating charges | 640/8 | €13,754 | €63,662 | +€49,908 | +362.9% |
| Gross operating margin | 9900 | €438,560 | €609,360 | +€170,800 | +38.9% |
| Operating profit (loss) | 9901 | -€11,576 | €41,228 | +€52,804 | |
| Financial income | 75/76B | €4,829 | €12,029 | +€7,201 | +149.1% |
| Recurring financial income | 75 | €4,829 | €12,029 | +€7,201 | +149.1% |
| Financial charges | 65/66B | €28,418 | €37,575 | +€9,157 | +32.2% |
| Recurring financial charges | 65 | €28,418 | €37,575 | +€9,157 | +32.2% |
| Profit (loss) for the period before taxes | 9903 | -€35,165 | €15,683 | +€50,848 | |
| Profit (loss) for the period | 9904 | -€35,165 | €15,683 | +€50,848 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,165 | €15,683 | +€50,848 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.