STARLIZ: 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.
STARLIZ
Largest movements
- Cash -€177,580
down €177,580 (-68.4%), from €259,764 to €82,184
mainly Other debts (-€117,465) and Current investments (-€87,776)
- Current investments +€87,776
up €87,776 (+83.6%), from €104,975 to €192,751
- Receivables within one year +€18,335
up €18,335 (+203%), from €9,013 to €27,348
of which Trade receivables: +€11,009
- Tangible fixed assets -€10,282
down €10,282 (-12.6%), from €81,401 to €71,120
of which Land and buildings: -€10,760
- Other debts -€117,465
down €117,465 (-91.8%), from €127,894 to €10,428
- Reserves +€59,659
up €59,659 (+34.2%), from €174,449 to €234,108
of which Distributable reserves: +€59,659
- Tax, wage and social debts -€16,485
down €16,485 (-30.2%), from €54,533 to €38,047
of which Taxes: -€20,591
- Debts after one year -€9,116
down €9,116 (-27.8%), from €32,762 to €23,646
- Gross operating margin -€7,006
down €7,006 (-2.3%), from €306,541 to €299,535
- Staff costs +€6,397
up €6,397 (+3.6%), from €176,126 to €182,523
- Financial charges +€6,354
up €6,354 (+114%), from €5,553 to €11,908
- Taxes -€5,686
down €5,686 (-19.4%), from €29,336 to €23,650
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 | €467,090 | €385,632 | -€81,458 | -17.4% |
| Fixed assets | 21/28 | €81,401 | €71,120 | -€10,282 | -12.6% |
| Tangible fixed assets | 22/27 | €81,401 | €71,120 | -€10,282 | -12.6% |
| Land and buildings | 22 | €32,434 | €21,674 | -€10,760 | -33.2% |
| Plant, machinery and equipment | 23 | €23,199 | €29,334 | +€6,135 | +26.4% |
| Furniture and vehicles | 24 | €14,988 | €12,484 | -€2,504 | -16.7% |
| Other tangible fixed assets | 26 | €10,781 | €7,628 | -€3,153 | -29.2% |
| Current assets | 29/58 | €385,689 | €314,512 | -€71,176 | -18.5% |
| Stocks and contracts in progress | 3 | €10,780 | €8,847 | -€1,933 | -17.9% |
| Stocks | 30/36 | €10,780 | €8,847 | -€1,933 | -17.9% |
| Amounts receivable within one year | 40/41 | €9,013 | €27,348 | +€18,335 | +203% |
| Trade receivables | 40 | - | €11,009 | +€11,009 | |
| Other amounts receivable | 41 | €9,013 | €16,340 | +€7,326 | +81.3% |
| Current investments | 50/53 | €104,975 | €192,751 | +€87,776 | +83.6% |
| Cash at bank and in hand | 54/58 | €259,764 | €82,184 | -€177,580 | -68.4% |
| Deferred charges and accrued income | 490/1 | €1,156 | €3,382 | +€2,226 | +193% |
| Total equity and liabilities | 10/49 | €467,090 | €385,632 | -€81,458 | -17.4% |
| Equity | 10/15 | €224,449 | €284,108 | +€59,659 | +26.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €174,449 | €234,108 | +€59,659 | +34.2% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €169,449 | €229,108 | +€59,659 | +35.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €242,641 | €101,524 | -€141,117 | -58.2% |
| Amounts payable after more than one year | 17 | €32,762 | €23,646 | -€9,116 | -27.8% |
| Financial debts | 170/4 | €32,762 | €23,646 | -€9,116 | -27.8% |
| Amounts payable within one year | 42/48 | €209,879 | €77,878 | -€132,001 | -62.9% |
| Current portion of amounts payable after more than one year | 42 | €8,748 | €9,116 | +€368 | +4.2% |
| Trade debts | 44 | €18,705 | €20,287 | +€1,581 | +8.5% |
| Suppliers | 440/4 | €18,705 | €20,087 | +€1,381 | +7.4% |
| Bills of exchange payable | 441 | - | €200 | +€200 | |
| Taxes, remuneration and social security | 45 | €54,533 | €38,047 | -€16,485 | -30.2% |
| Taxes | 450/3 | €44,771 | €24,180 | -€20,591 | -46.0% |
| Remuneration and social security | 454/9 | €9,762 | €13,867 | +€4,105 | +42.1% |
| Other amounts payable | 47/48 | €127,894 | €10,428 | -€117,465 | -91.8% |
| Remuneration, social security and pensions | 62 | €176,126 | €182,523 | +€6,397 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,388 | €21,961 | +€1,573 | +7.7% |
| Other operating charges | 640/8 | €2,059 | €3,120 | +€1,061 | +51.5% |
| Gross operating margin | 9900 | €306,541 | €299,535 | -€7,006 | -2.3% |
| Operating profit (loss) | 9901 | €107,967 | €91,931 | -€16,036 | -14.9% |
| Financial income | 75/76B | €417 | €3,286 | +€2,869 | +688% |
| Recurring financial income | 75 | €417 | €3,286 | +€2,869 | +688% |
| Financial charges | 65/66B | €5,553 | €11,908 | +€6,354 | +114% |
| Recurring financial charges | 65 | €5,553 | €11,908 | +€6,354 | +114% |
| Profit (loss) for the period before taxes | 9903 | €102,831 | €83,309 | -€19,522 | -19.0% |
| Income taxes | 67/77 | €29,336 | €23,650 | -€5,686 | -19.4% |
| Profit (loss) for the period | 9904 | €73,495 | €59,659 | -€13,836 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €73,495 | €59,659 | -€13,836 | -18.8% |
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 24 October 2026 via checked.be.