STARMACHA: 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.
STARMACHA
Largest movements
- Deferred charges and accrued income +€60,367
new in 2025: €60,367
- Profit (loss) carried forward +€144,091
up €144,091 (+11.1%), from €1.3m to €1.4m
- Debts after one year -€40,683
down €40,683 (-16.6%), from €245,064 to €204,381
of which Financial debts: -€72,660
- Tax, wage and social debts -€22,982
down €22,982 (-94.2%), from €24,407 to €1,425
- Gross operating margin -€22,406
down €22,406 (-8.7%), from €258,147 to €235,740
- Depreciation +€14,570
up €14,570 (+128%), from €11,352 to €25,922
- Taxes -€8,974
down €8,974 (-14.9%), from €60,399 to €51,425
- Financial charges +€5,442
up €5,442 (+89.2%), from €6,104 to €11,545
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 | €1,715,954 | €1,804,437 | +€88,483 | +5.2% |
| Fixed assets | 21/28 | €1,711,229 | €1,728,044 | +€16,815 | +1.0% |
| Tangible fixed assets | 22/27 | €272,532 | €289,347 | +€16,815 | +6.2% |
| Land and buildings | 22 | €179,382 | €173,449 | -€5,933 | -3.3% |
| Furniture and vehicles | 24 | €16,416 | €8,036 | -€8,380 | -51.0% |
| Other tangible fixed assets | 26 | €76,734 | €107,862 | +€31,128 | +40.6% |
| Financial fixed assets | 28 | €1,438,697 | €1,438,697 | = | 0.0% |
| Current assets | 29/58 | €4,724 | €76,393 | +€71,669 | +1,517% |
| Amounts receivable within one year | 40/41 | €4,601 | €15,183 | +€10,582 | +230% |
| Other amounts receivable | 41 | €4,601 | €15,183 | +€10,582 | +230% |
| Cash at bank and in hand | 54/58 | €124 | €843 | +€720 | +583% |
| Deferred charges and accrued income | 490/1 | - | €60,367 | +€60,367 | |
| Total equity and liabilities | 10/49 | €1,715,954 | €1,804,437 | +€88,483 | +5.2% |
| Equity | 10/15 | €1,321,926 | €1,466,018 | +€144,091 | +10.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,301,466 | €1,445,558 | +€144,091 | +11.1% |
| Amounts payable | 17/49 | €394,027 | €338,419 | -€55,608 | -14.1% |
| Amounts payable after more than one year | 17 | €245,064 | €204,381 | -€40,683 | -16.6% |
| Financial debts | 170/4 | €245,064 | €172,404 | -€72,660 | -29.6% |
| Other amounts payable | 178/9 | - | €31,978 | +€31,978 | |
| Amounts payable within one year | 42/48 | €148,963 | €134,038 | -€14,925 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €71,110 | €72,660 | +€1,550 | +2.2% |
| Financial debts | 43 | €26,250 | €25,819 | -€431 | -1.6% |
| Credit institutions | 430/8 | €26,250 | €16,250 | -€10,000 | -38.1% |
| Other loans | 439 | - | €9,569 | +€9,569 | |
| Trade debts | 44 | €6,933 | - | -€6,933 | |
| Suppliers | 440/4 | €6,933 | - | -€6,933 | |
| Taxes, remuneration and social security | 45 | €24,407 | €1,425 | -€22,982 | -94.2% |
| Taxes | 450/3 | €24,407 | €1,425 | -€22,982 | -94.2% |
| Other amounts payable | 47/48 | €20,263 | €34,133 | +€13,870 | +68.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,352 | €25,922 | +€14,570 | +128% |
| Other operating charges | 640/8 | €1,837 | €2,757 | +€919 | +50.0% |
| Gross operating margin | 9900 | €258,147 | €235,740 | -€22,406 | -8.7% |
| Operating profit (loss) | 9901 | €244,958 | €207,062 | -€37,896 | -15.5% |
| Financial charges | 65/66B | €6,104 | €11,545 | +€5,442 | +89.2% |
| Recurring financial charges | 65 | €6,104 | €11,545 | +€5,442 | +89.2% |
| Profit (loss) for the period before taxes | 9903 | €238,854 | €195,517 | -€43,338 | -18.1% |
| Income taxes | 67/77 | €60,399 | €51,425 | -€8,974 | -14.9% |
| Profit (loss) for the period | 9904 | €178,455 | €144,091 | -€34,364 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €178,455 | €144,091 | -€34,364 | -19.3% |
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 31 October 2026 via checked.be.