START ENERGY: 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.
START ENERGY
Largest movements
- Receivables within one year +€21,759
up €21,759 (+61.7%), from €35,252 to €57,011
of which Other amounts receivable: +€38,656
- Tangible fixed assets +€7,292
new in 2025: €7,292
- Other debts +€29,000
new in 2025: €29,000
- Profit (loss) carried forward -€15,029
down €15,029 (-97.2%), from €15,465 to €436
- Trade debts +€7,001
up €7,001 (+47.4%), from €14,770 to €21,771
- Current portion of long-term debt +€4,924
new in 2025: €4,924
- Debts after one year +€1,836
new in 2025: €1,836
- Gross operating margin +€8,477
up €8,477 (+63.4%), from €13,361 to €21,838
- Other operating charges -€7,415
down €7,415 (-94.9%), from €7,815 to €400
- Depreciation +€3,208
new in 2025: €3,208
- Taxes +€3,068
up €3,068 (+280%), from €1,096 to €4,163
- Financial income +€713
up €713 (+174%), from €410 to €1,123
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 | €36,178 | €65,226 | +€29,048 | +80.3% |
| Fixed assets | 21/28 | - | €7,292 | +€7,292 | |
| Tangible fixed assets | 22/27 | - | €7,292 | +€7,292 | |
| Furniture and vehicles | 24 | - | €7,292 | +€7,292 | |
| Current assets | 29/58 | €36,178 | €57,934 | +€21,756 | +60.1% |
| Amounts receivable within one year | 40/41 | €35,252 | €57,011 | +€21,759 | +61.7% |
| Trade receivables | 40 | €28,257 | €11,360 | -€16,897 | -59.8% |
| Other amounts receivable | 41 | €6,995 | €45,651 | +€38,656 | +553% |
| Cash at bank and in hand | 54/58 | €187 | €149 | -€37 | -20.1% |
| Deferred charges and accrued income | 490/1 | €739 | €774 | +€35 | +4.7% |
| Total equity and liabilities | 10/49 | €36,178 | €65,226 | +€29,048 | +80.3% |
| Equity | 10/15 | €17,465 | €2,436 | -€15,029 | -86.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,465 | €436 | -€15,029 | -97.2% |
| Amounts payable | 17/49 | €18,713 | €62,790 | +€44,077 | +236% |
| Amounts payable after more than one year | 17 | - | €1,836 | +€1,836 | |
| Financial debts | 170/4 | - | €1,836 | +€1,836 | |
| Amounts payable within one year | 42/48 | €18,713 | €60,954 | +€42,241 | +226% |
| Current portion of amounts payable after more than one year | 42 | - | €4,924 | +€4,924 | |
| Trade debts | 44 | €14,770 | €21,771 | +€7,001 | +47.4% |
| Suppliers | 440/4 | €14,770 | €21,771 | +€7,001 | +47.4% |
| Taxes, remuneration and social security | 45 | €3,943 | €5,259 | +€1,316 | +33.4% |
| Taxes | 450/3 | €3,943 | €5,259 | +€1,316 | +33.4% |
| Other amounts payable | 47/48 | - | €29,000 | +€29,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,208 | +€3,208 | |
| Other operating charges | 640/8 | €7,815 | €400 | -€7,415 | -94.9% |
| Gross operating margin | 9900 | €13,361 | €21,838 | +€8,477 | +63.4% |
| Operating profit (loss) | 9901 | €5,546 | €18,230 | +€12,684 | +229% |
| Financial income | 75/76B | €410 | €1,123 | +€713 | +174% |
| Recurring financial income | 75 | €410 | €1,123 | +€713 | +174% |
| Financial charges | 65/66B | €971 | €1,219 | +€248 | +25.6% |
| Recurring financial charges | 65 | €971 | €1,219 | +€248 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €4,986 | €18,134 | +€13,148 | +264% |
| Income taxes | 67/77 | €1,096 | €4,163 | +€3,068 | +280% |
| Profit (loss) for the period | 9904 | €3,890 | €13,971 | +€10,081 | +259% |
| Profit (loss) for the period to be appropriated | 9905 | €3,890 | €13,971 | +€10,081 | +259% |
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.