STARO 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.
STARO TRANS
Largest movements
- Receivables within one year -€113,020
down €113,020 (-24.4%), from €463,770 to €350,750
of which Trade receivables: -€75,936
- Financial fixed assets -€105,000
no longer reported in 2025 (was €105,000)
- Cash -€83,039
down €83,039 (-59.6%), from €139,358 to €56,320
mainly Trade debts (-€205,985) and Debts after one year (-€94,334)
- Tangible fixed assets -€18,446
down €18,446 (-44.7%), from €41,313 to €22,866
of which Furniture and vehicles: -€16,688
- Trade debts -€205,985
down €205,985 (-44.0%), from €468,203 to €262,218
- Debts after one year -€94,334
down €94,334 (-55.7%), from €169,334 to €75,000
- Profit (loss) carried forward +€82,667
up €82,667 (+25.7%), from -€322,247 to -€239,580
- Other debts -€80,771
down €80,771 (-77.7%), from €103,919 to €23,149
- Tax, wage and social debts -€12,052
down €12,052 (-28.1%), from €42,875 to €30,824
of which Remuneration and social security: -€7,046
- Financial income +€340,912
up €340,912 (+13,872%), from €2,458 to €343,370
of which Non-recurring financial income: +€248,960
- Financial charges +€335,511
up €335,511 (+993%), from €33,776 to €369,287
of which Non-recurring financial charges: +€353,960
- Staff costs -€81,549
down €81,549 (-69.5%), from €117,326 to €35,777
- Gross operating margin -€47,290
down €47,290 (-21.9%), from €216,053 to €168,764
- Other operating charges -€8,918
down €8,918 (-71.8%), from €12,424 to €3,505
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 | €753,180 | €432,890 | -€320,290 | -42.5% |
| Fixed assets | 21/28 | €146,313 | €22,866 | -€123,446 | -84.4% |
| Tangible fixed assets | 22/27 | €41,313 | €22,866 | -€18,446 | -44.7% |
| Furniture and vehicles | 24 | €32,819 | €16,131 | -€16,688 | -50.8% |
| Other tangible fixed assets | 26 | €8,494 | €6,735 | -€1,758 | -20.7% |
| Financial fixed assets | 28 | €105,000 | - | -€105,000 | |
| Current assets | 29/58 | €606,867 | €410,023 | -€196,844 | -32.4% |
| Amounts receivable within one year | 40/41 | €463,770 | €350,750 | -€113,020 | -24.4% |
| Trade receivables | 40 | €416,035 | €340,099 | -€75,936 | -18.3% |
| Other amounts receivable | 41 | €47,736 | €10,651 | -€37,084 | -77.7% |
| Cash at bank and in hand | 54/58 | €139,358 | €56,320 | -€83,039 | -59.6% |
| Deferred charges and accrued income | 490/1 | €3,739 | €2,953 | -€786 | -21.0% |
| Total equity and liabilities | 10/49 | €753,180 | €432,890 | -€320,290 | -42.5% |
| Equity | 10/15 | -€44,567 | €38,100 | +€82,667 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €259,080 | €259,080 | = | 0.0% |
| Distributable reserves | 133 | €259,080 | €259,080 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€322,247 | -€239,580 | +€82,667 | +25.7% |
| Amounts payable | 17/49 | €797,747 | €394,790 | -€402,957 | -50.5% |
| Amounts payable after more than one year | 17 | €169,334 | €75,000 | -€94,334 | -55.7% |
| Other amounts payable | 178/9 | €169,334 | €75,000 | -€94,334 | -55.7% |
| Amounts payable within one year | 42/48 | €623,713 | €316,190 | -€307,523 | -49.3% |
| Current portion of amounts payable after more than one year | 42 | €8,716 | - | -€8,716 | |
| Trade debts | 44 | €468,203 | €262,218 | -€205,985 | -44.0% |
| Suppliers | 440/4 | €468,203 | €262,218 | -€205,985 | -44.0% |
| Taxes, remuneration and social security | 45 | €42,875 | €30,824 | -€12,052 | -28.1% |
| Taxes | 450/3 | €35,830 | €30,824 | -€5,006 | -14.0% |
| Remuneration and social security | 454/9 | €7,046 | - | -€7,046 | |
| Other amounts payable | 47/48 | €103,919 | €23,149 | -€80,771 | -77.7% |
| Accrued charges and deferred income | 492/3 | €4,700 | €3,600 | -€1,100 | -23.4% |
| Non-recurring operating income | 76A | €27,736 | €8,000 | -€19,736 | -71.2% |
| Remuneration, social security and pensions | 62 | €117,326 | €35,777 | -€81,549 | -69.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,011 | €18,446 | +€1,435 | +8.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,823 | €1,761 | -€5,062 | -74.2% |
| Other operating charges | 640/8 | €12,424 | €3,505 | -€8,918 | -71.8% |
| Non-recurring operating charges | 66A | €28,986 | - | -€28,986 | |
| Gross operating margin | 9900 | €216,053 | €168,764 | -€47,290 | -21.9% |
| Operating profit (loss) | 9901 | €33,484 | €109,275 | +€75,791 | +226% |
| Financial income | 75/76B | €2,458 | €343,370 | +€340,912 | +13,872% |
| Recurring financial income | 75 | €2,458 | €94,410 | +€91,952 | +3,742% |
| Non-recurring financial income | 76B | - | €248,960 | +€248,960 | |
| Financial charges | 65/66B | €33,776 | €369,287 | +€335,511 | +993% |
| Recurring financial charges | 65 | €33,776 | €15,327 | -€18,449 | -54.6% |
| Non-recurring financial charges | 66B | - | €353,960 | +€353,960 | |
| Profit (loss) for the period before taxes | 9903 | €2,166 | €83,358 | +€81,192 | +3,749% |
| Income taxes | 67/77 | €1,399 | €691 | -€708 | -50.6% |
| Profit (loss) for the period | 9904 | €767 | €82,667 | +€81,900 | +10,681% |
| Profit (loss) for the period to be appropriated | 9905 | €767 | €82,667 | +€81,900 | +10,681% |
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 15 October 2026 via checked.be.