432HERTZ STUDIO: 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.
432HERTZ STUDIO
Largest movements
- Receivables within one year +€12,139
up €12,139 (+51.5%), from €23,575 to €35,714
of which Other amounts receivable: +€10,203
- Cash +€10,493
up €10,493 (+62.2%), from €16,871 to €27,364
mainly Net result for the year (+€36,350) and Depreciation (+€1,700)
- Tangible fixed assets +€2,750
new in 2025: €2,750
of which Furniture and vehicles: +€2,450
- Intangible fixed assets -€931
no longer reported in 2025 (was €931)
- Profit (loss) carried forward +€35,517
up €35,517 (+73,978%), from €48 to €35,565
- Tax, wage and social debts -€10,555
down €10,555 (-59.7%), from €17,692 to €7,137
- Gross operating margin +€16,860
up €16,860 (+53.0%), from €31,821 to €48,681
- Taxes +€1,462
up €1,462 (+17.2%), from €8,480 to €9,941
- Depreciation +€1,316
up €1,316 (+342%), from €384 to €1,700
- Other operating charges +€745
up €745 (+1,489%), from €50 to €795
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 | €41,377 | €65,829 | +€24,452 | +59.1% |
| Fixed assets | 21/28 | €931 | €2,750 | +€1,820 | +196% |
| Intangible fixed assets | 21 | €931 | - | -€931 | |
| Tangible fixed assets | 22/27 | - | €2,750 | +€2,750 | |
| Plant, machinery and equipment | 23 | - | €300 | +€300 | |
| Furniture and vehicles | 24 | - | €2,450 | +€2,450 | |
| Current assets | 29/58 | €40,446 | €63,078 | +€22,633 | +56.0% |
| Amounts receivable within one year | 40/41 | €23,575 | €35,714 | +€12,139 | +51.5% |
| Trade receivables | 40 | €23,575 | €25,511 | +€1,936 | +8.2% |
| Other amounts receivable | 41 | - | €10,203 | +€10,203 | |
| Cash at bank and in hand | 54/58 | €16,871 | €27,364 | +€10,493 | +62.2% |
| Total equity and liabilities | 10/49 | €41,377 | €65,829 | +€24,452 | +59.1% |
| Equity | 10/15 | €22,248 | €57,765 | +€35,517 | +160% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €22,000 | €22,000 | = | 0.0% |
| Distributable reserves | 133 | €22,000 | €22,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48 | €35,565 | +€35,517 | +73,978% |
| Amounts payable | 17/49 | €19,129 | €8,064 | -€11,064 | -57.8% |
| Amounts payable within one year | 42/48 | €19,129 | €8,064 | -€11,064 | -57.8% |
| Trade debts | 44 | €150 | €94 | -€56 | -37.3% |
| Suppliers | 440/4 | €150 | €94 | -€56 | -37.3% |
| Taxes, remuneration and social security | 45 | €17,692 | €7,137 | -€10,555 | -59.7% |
| Taxes | 450/3 | €17,692 | €7,137 | -€10,555 | -59.7% |
| Other amounts payable | 47/48 | €1,287 | €833 | -€454 | -35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €384 | €1,700 | +€1,316 | +342% |
| Other operating charges | 640/8 | €50 | €795 | +€745 | +1,489% |
| Gross operating margin | 9900 | €31,821 | €48,681 | +€16,860 | +53.0% |
| Operating profit (loss) | 9901 | €31,387 | €46,187 | +€14,800 | +47.2% |
| Financial income | 75/76B | - | €143 | +€143 | |
| Recurring financial income | 75 | - | €143 | +€143 | |
| Financial charges | 65/66B | - | €39 | +€39 | |
| Recurring financial charges | 65 | - | €39 | +€39 | |
| Profit (loss) for the period before taxes | 9903 | €31,387 | €46,291 | +€14,904 | +47.5% |
| Income taxes | 67/77 | €8,480 | €9,941 | +€1,462 | +17.2% |
| Profit (loss) for the period | 9904 | €22,907 | €36,350 | +€13,443 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,907 | €36,350 | +€13,443 | +58.7% |
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 14 October 2026 via checked.be.