ARTSTUDIO 54: 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.
ARTSTUDIO 54
Largest movements
- Receivables within one year +€65,129
up €65,129 (+41.4%), from €157,392 to €222,521
of which Other amounts receivable: +€69,116
- Cash +€8,521
up €8,521 (+35.4%), from €24,103 to €32,625
mainly Accrued charges and deferred income (+€78,013) and Net result for the year (+€37,770)
- Tangible fixed assets -€5,411
down €5,411 (-20.9%), from €25,918 to €20,508
- Accrued charges and deferred income +€78,013
new in 2025: €78,013
- Reserves +€37,770
up €37,770 (+184.3%), from €20,497 to €58,266
- Debts after one year -€24,570
down €24,570 (-26.9%), from €91,460 to €66,890
- Trade debts -€15,268
down €15,268 (-40.7%), from €37,554 to €22,285
- Tax, wage and social debts +€9,989
up €9,989 (+146.6%), from €6,815 to €16,804
of which Taxes: +€8,620
- Gross operating margin +€52,978
up €52,978 (+436.4%), from €12,139 to €65,117
- Taxes +€13,546
up €13,546 (+1429.0%), from €948 to €14,494
- Depreciation +€4,487
up €4,487 (+485.7%), from €924 to €5,411
- Staff costs -€2,763
down €2,763 (-71.3%), from €3,875 to €1,112
- Financial charges +€1,573
up €1,573 (+36.4%), from €4,321 to €5,894
of which Financial charges: +€1,039
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 | €208,198 | €276,515 | +€68,317 | +32.8% |
| Fixed assets | 21/28 | €25,918 | €20,508 | -€5,411 | -20.9% |
| Tangible fixed assets | 22/27 | €25,918 | €20,508 | -€5,411 | -20.9% |
| Furniture and vehicles | 24 | €25,918 | €20,508 | -€5,411 | -20.9% |
| Current assets | 29/58 | €182,279 | €256,007 | +€73,728 | +40.4% |
| Amounts receivable within one year | 40/41 | €157,392 | €222,521 | +€65,129 | +41.4% |
| Trade receivables | 40 | €82,528 | €78,542 | -€3,987 | -4.8% |
| Other amounts receivable | 41 | €74,864 | €143,979 | +€69,116 | +92.3% |
| Cash at bank and in hand | 54/58 | €24,103 | €32,625 | +€8,521 | +35.4% |
| Deferred charges and accrued income | 490/1 | €784 | €861 | +€77 | +9.8% |
| Total equity and liabilities | 10/49 | €208,198 | €276,515 | +€68,317 | +32.8% |
| Equity | 10/15 | €26,697 | €64,466 | +€37,770 | +141.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,497 | €58,266 | +€37,770 | +184.3% |
| Distributable reserves | 133 | €20,497 | €58,266 | +€37,770 | +184.3% |
| Amounts payable | 17/49 | €181,501 | €212,049 | +€30,548 | +16.8% |
| Amounts payable after more than one year | 17 | €91,460 | €66,890 | -€24,570 | -26.9% |
| Financial debts | 170/4 | €91,460 | €66,890 | -€24,570 | -26.9% |
| Amounts payable within one year | 42/48 | €90,041 | €67,146 | -€22,895 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €26,606 | €27,306 | +€701 | +2.6% |
| Trade debts | 44 | €37,554 | €22,285 | -€15,268 | -40.7% |
| Suppliers | 440/4 | €37,554 | €22,285 | -€15,268 | -40.7% |
| Advances received on contracts in progress | 46 | €9,960 | - | -€9,960 | |
| Taxes, remuneration and social security | 45 | €6,815 | €16,804 | +€9,989 | +146.6% |
| Taxes | 450/3 | €6,815 | €15,435 | +€8,620 | +126.5% |
| Remuneration and social security | 454/9 | - | €1,369 | +€1,369 | |
| Other amounts payable | 47/48 | €9,106 | €750 | -€8,356 | -91.8% |
| Accrued charges and deferred income | 492/3 | - | €78,013 | +€78,013 | |
| Remuneration, social security and pensions | 62 | €3,875 | €1,112 | -€2,763 | -71.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €924 | €5,411 | +€4,487 | +485.7% |
| Other operating charges | 640/8 | €585 | €593 | +€8 | +1.3% |
| Gross operating margin | 9900 | €12,139 | €65,117 | +€52,978 | +436.4% |
| Operating profit (loss) | 9901 | €6,756 | €58,002 | +€51,246 | +758.5% |
| Financial income | 75/76B | €109 | €155 | +€46 | +41.8% |
| Recurring financial income | 75 | €109 | €155 | +€46 | +41.8% |
| Financial charges | 65/66B | €4,321 | €5,894 | +€1,573 | +36.4% |
| Recurring financial charges | 65 | €4,318 | €5,357 | +€1,039 | +24.1% |
| Non-recurring financial charges | 66B | €3 | €537 | +€533 | +16987.9% |
| Profit (loss) for the period before taxes | 9903 | €2,545 | €52,264 | +€49,719 | +1953.9% |
| Income taxes | 67/77 | €948 | €14,494 | +€13,546 | +1429.0% |
| Profit (loss) for the period | 9904 | €1,597 | €37,770 | +€36,173 | +2265.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,597 | €37,770 | +€36,173 | +2265.5% |
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 11 October 2026 via checked.be.