STARTEL: what changed
Two fiscal 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.
STARTEL
Largest movements
- Cash +€6,201
up €6,201 (+895.8%), from €692 to €6,894
mainly Net result for the year (+€18,416) and Depreciation (+€1,563)
- Tangible fixed assets -€1,563
down €1,563 (-9.1%), from €17,175 to €15,612
- Financial fixed assets -€1,546
down €1,546 (-13.2%), from €11,735 to €10,189
- Receivables within one year +€1,463
up €1,463 (+373.2%), from €392 to €1,855
- Profit (loss) carried forward +€18,416
up €18,416 (+12.4%), from -€148,466 to -€130,049
- Other debts -€14,446
down €14,446 (-13.1%), from €110,000 to €95,554
- Trade debts +€586
up €586 (+436.3%), from €134 to €720
- Gross operating margin +€10,169
up €10,169 (+79.0%), from €12,869 to €23,037
- Depreciation -€230
down €230 (-12.8%), from €1,793 to €1,563
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.
Cash bridge derived
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 | €29,994 | €34,549 | +€4,556 | +15.2% |
| Fixed assets | 21/28 | €28,909 | €25,800 | -€3,109 | -10.8% |
| Tangible fixed assets | 22/27 | €17,175 | €15,612 | -€1,563 | -9.1% |
| Land and buildings | 22 | €17,175 | €15,612 | -€1,563 | -9.1% |
| Financial fixed assets | 28 | €11,735 | €10,189 | -€1,546 | -13.2% |
| Current assets | 29/58 | €1,084 | €8,749 | +€7,665 | +706.9% |
| Amounts receivable within one year | 40/41 | €392 | €1,855 | +€1,463 | +373.2% |
| Trade receivables | 40 | €392 | €1,855 | +€1,463 | +373.2% |
| Cash at bank and in hand | 54/58 | €692 | €6,894 | +€6,201 | +895.8% |
| Total equity and liabilities | 10/49 | €29,994 | €34,549 | +€4,556 | +15.2% |
| Equity | 10/15 | -€80,266 | -€61,849 | +€18,416 | +22.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,466 | -€130,049 | +€18,416 | +12.4% |
| Amounts payable | 17/49 | €110,259 | €96,399 | -€13,861 | -12.6% |
| Amounts payable within one year | 42/48 | €110,134 | €96,274 | -€13,861 | -12.6% |
| Trade debts | 44 | €134 | €720 | +€586 | +436.3% |
| Suppliers | 440/4 | €134 | €720 | +€586 | +436.3% |
| Other amounts payable | 47/48 | €110,000 | €95,554 | -€14,446 | -13.1% |
| Accrued charges and deferred income | 492/3 | €125 | €125 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,793 | €1,563 | -€230 | -12.8% |
| Other operating charges | 640/8 | €2,816 | €2,905 | +€89 | +3.1% |
| Gross operating margin | 9900 | €12,869 | €23,037 | +€10,169 | +79.0% |
| Operating profit (loss) | 9901 | €8,259 | €18,570 | +€10,311 | +124.8% |
| Financial charges | 65/66B | €153 | €153 | = | 0.0% |
| Recurring financial charges | 65 | €153 | €153 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €8,106 | €18,416 | +€10,311 | +127.2% |
| Profit (loss) for the period | 9904 | €8,106 | €18,416 | +€10,311 | +127.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,106 | €18,416 | +€10,311 | +127.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.