STAROUGH: 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.
STAROUGH
Largest movements
- Deferred charges and accrued income -€863,496
no longer reported in 2025 (was €863,496)
- Receivables within one year -€214,581
down €214,581 (-31.8%), from €674,695 to €460,113
of which Trade receivables: -€215,186
- Stocks and contracts +€78,613
up €78,613 (+1.9%), from €4.1m to €4.2m
- Trade debts -€873,352
down €873,352 (-17.9%), from €4.9m to €4.0m
- Reserves -€153,990
down €153,990 (-85.7%), from €179,728 to €25,737
- Other operating charges -€544,498
down €544,498 (-100.0%), from €544,635 to €137
- Gross operating margin -€254,621
down €254,621, from €110,276 to -€144,345
- Taxes +€1,919
up €1,919 (+82.7%), from €2,322 to €4,240
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 | €5,679,126 | €4,682,752 | -€996,374 | -17.5% |
| Fixed assets | 21/28 | €6,247 | €6,247 | = | 0.0% |
| Financial fixed assets | 28 | €6,247 | €6,247 | = | 0.0% |
| Current assets | 29/58 | €5,672,879 | €4,676,505 | -€996,374 | -17.6% |
| Stocks and contracts in progress | 3 | €4,133,643 | €4,212,256 | +€78,613 | +1.9% |
| Stocks | 30/36 | €4,133,643 | €4,212,256 | +€78,613 | +1.9% |
| Amounts receivable within one year | 40/41 | €674,695 | €460,113 | -€214,581 | -31.8% |
| Trade receivables | 40 | €670,674 | €455,488 | -€215,186 | -32.1% |
| Other amounts receivable | 41 | €4,020 | €4,625 | +€605 | +15.0% |
| Cash at bank and in hand | 54/58 | €1,045 | €4,136 | +€3,091 | +296% |
| Deferred charges and accrued income | 490/1 | €863,496 | - | -€863,496 | |
| Total equity and liabilities | 10/49 | €5,679,126 | €4,682,752 | -€996,374 | -17.5% |
| Equity | 10/15 | €198,320 | €44,329 | -€153,990 | -77.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €179,728 | €25,737 | -€153,990 | -85.7% |
| Distributable reserves | 133 | €179,728 | €25,737 | -€153,990 | -85.7% |
| Amounts payable | 17/49 | €5,480,806 | €4,638,422 | -€842,384 | -15.4% |
| Amounts payable within one year | 42/48 | €5,480,806 | €4,638,422 | -€842,384 | -15.4% |
| Financial debts | 43 | €69,643 | €69,643 | = | 0.0% |
| Other loans | 439 | €69,643 | €69,643 | = | 0.0% |
| Trade debts | 44 | €4,872,580 | €3,999,228 | -€873,352 | -17.9% |
| Suppliers | 440/4 | €4,872,580 | €3,999,228 | -€873,352 | -17.9% |
| Taxes, remuneration and social security | 45 | €530,269 | €528,997 | -€1,273 | -0.2% |
| Taxes | 450/3 | - | €4,202 | +€4,202 | |
| Remuneration and social security | 454/9 | €530,269 | €524,794 | -€5,475 | -1.0% |
| Other amounts payable | 47/48 | €8,314 | €40,556 | +€32,241 | +388% |
| Other operating charges | 640/8 | €544,635 | €137 | -€544,498 | -100.0% |
| Gross operating margin | 9900 | €110,276 | -€144,345 | -€254,621 | |
| Operating profit (loss) | 9901 | -€434,358 | -€144,481 | +€289,877 | +66.7% |
| Financial income | 75/76B | €781 | €134 | -€647 | -82.9% |
| Recurring financial income | 75 | €781 | €134 | -€647 | -82.9% |
| Financial charges | 65/66B | €6,196 | €5,403 | -€793 | -12.8% |
| Recurring financial charges | 65 | €6,196 | €5,403 | -€793 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | -€439,773 | -€149,750 | +€290,023 | +65.9% |
| Income taxes | 67/77 | €2,322 | €4,240 | +€1,919 | +82.7% |
| Profit (loss) for the period | 9904 | -€442,094 | -€153,990 | +€288,104 | +65.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€442,094 | -€153,990 | +€288,104 | +65.2% |
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 25 October 2026 via checked.be.