STARSALE: 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.
STARSALE
Largest movements
- Receivables within one year +€156,252
up €156,252 (+1,525%), from €10,243 to €166,495
of which Trade receivables: +€138,202
- Stocks and contracts -€97,669
down €97,669 (-34.8%), from €281,048 to €183,379
- Cash -€21,712
down €21,712 (-76.0%), from €28,574 to €6,862
- Deferred charges and accrued income +€11,046
up €11,046 (+8.4%), from €131,063 to €142,109
- Other debts +€201,899
up €201,899 (+44.7%), from €451,699 to €653,598
- Profit (loss) carried forward -€103,947
down €103,947 (-29.7%), from -€349,600 to -€453,547
- Trade debts -€42,440
down €42,440 (-87.2%), from €48,649 to €6,209
- Short-term financial debts -€15,288
down €15,288 (-10.9%), from €140,288 to €125,000
- Gross operating margin +€152,241
up €152,241 (+964%), from €15,796 to €168,038
- Staff costs +€14,599
up €14,599 (+11.0%), from €132,929 to €147,527
- Financial charges +€4,484
up €4,484 (+104%), from €4,326 to €8,810
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €455,600 | €502,624 | +€47,024 | +10.3% |
| Fixed assets | 21/28 | €4,672 | €3,779 | -€893 | -19.1% |
| Tangible fixed assets | 22/27 | €4,522 | €3,629 | -€893 | -19.7% |
| Plant, machinery and equipment | 23 | €2,921 | €2,772 | -€149 | -5.1% |
| Furniture and vehicles | 24 | €1,601 | €857 | -€744 | -46.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €450,928 | €498,845 | +€47,917 | +10.6% |
| Stocks and contracts in progress | 3 | €281,048 | €183,379 | -€97,669 | -34.8% |
| Stocks | 30/36 | €281,048 | €183,379 | -€97,669 | -34.8% |
| Amounts receivable within one year | 40/41 | €10,243 | €166,495 | +€156,252 | +1,525% |
| Trade receivables | 40 | €379 | €138,581 | +€138,202 | +36,471% |
| Other amounts receivable | 41 | €9,864 | €27,914 | +€18,050 | +183% |
| Cash at bank and in hand | 54/58 | €28,574 | €6,862 | -€21,712 | -76.0% |
| Deferred charges and accrued income | 490/1 | €131,063 | €142,109 | +€11,046 | +8.4% |
| Total equity and liabilities | 10/49 | €455,600 | €502,624 | +€47,024 | +10.3% |
| Equity | 10/15 | -€341,540 | -€445,487 | -€103,947 | -30.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€349,600 | -€453,547 | -€103,947 | -29.7% |
| Amounts payable | 17/49 | €797,140 | €948,112 | +€150,972 | +18.9% |
| Amounts payable within one year | 42/48 | €655,342 | €801,492 | +€146,150 | +22.3% |
| Financial debts | 43 | €140,288 | €125,000 | -€15,288 | -10.9% |
| Credit institutions | 430/8 | €140,288 | €125,000 | -€15,288 | -10.9% |
| Trade debts | 44 | €48,649 | €6,209 | -€42,440 | -87.2% |
| Suppliers | 440/4 | €48,649 | €6,209 | -€42,440 | -87.2% |
| Taxes, remuneration and social security | 45 | €14,706 | €16,686 | +€1,980 | +13.5% |
| Taxes | 450/3 | €4,857 | €16,686 | +€11,829 | +244% |
| Remuneration and social security | 454/9 | €9,849 | €0 | -€9,849 | -100% |
| Other amounts payable | 47/48 | €451,699 | €653,598 | +€201,899 | +44.7% |
| Accrued charges and deferred income | 492/3 | €141,798 | €146,619 | +€4,821 | +3.4% |
| Remuneration, social security and pensions | 62 | €132,929 | €147,527 | +€14,599 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,336 | €1,352 | +€17 | +1.2% |
| Other operating charges | 640/8 | €3,354 | €2,267 | -€1,087 | -32.4% |
| Gross operating margin | 9900 | €15,796 | €168,038 | +€152,241 | +964% |
| Operating profit (loss) | 9901 | -€121,822 | €16,891 | +€138,713 | |
| Financial income | 75/76B | €1,060 | €16 | -€1,044 | -98.5% |
| Recurring financial income | 75 | €1,060 | €16 | -€1,044 | -98.5% |
| Financial charges | 65/66B | €4,326 | €8,810 | +€4,484 | +104% |
| Recurring financial charges | 65 | €4,326 | €8,810 | +€4,484 | +104% |
| Profit (loss) for the period before taxes | 9903 | -€125,088 | €8,098 | +€133,186 | |
| Profit (loss) for the period | 9904 | -€125,088 | €8,098 | +€133,186 | |
| Profit (loss) for the period to be appropriated | 9905 | -€125,088 | €8,098 | +€133,186 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.