BURCU 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.
BURCU STUDIO
Largest movements
- Receivables within one year -€12,181
down €12,181 (-32.2%), from €37,800 to €25,618
of which Trade receivables: -€21,072
- Tangible fixed assets -€6,030
down €6,030 (-34.6%), from €17,447 to €11,417
of which Plant, machinery and equipment: -€4,802
- Cash -€2,362
down €2,362 (-55.7%), from €4,237 to €1,875
mainly Trade debts (-€21,869) and Other debts (-€680)
- Trade debts -€21,869
no longer reported in 2025 (was €21,869)
- Profit (loss) carried forward +€1,404
up €1,404 (+14.5%), from €9,708 to €11,112
- Other debts -€680
down €680 (-65.7%), from €1,035 to €355
- Gross operating margin -€14,326
down €14,326 (-59.3%), from €24,155 to €9,829
- Taxes -€5,895
down €5,895 (-91.6%), from €6,434 to €539
- Depreciation +€5,477
up €5,477 (+992%), from €552 to €6,030
- Other operating charges +€1,145
up €1,145 (+281%), from €408 to €1,554
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 | €59,483 | €38,910 | -€20,573 | -34.6% |
| Fixed assets | 21/28 | €17,447 | €11,417 | -€6,030 | -34.6% |
| Tangible fixed assets | 22/27 | €17,447 | €11,417 | -€6,030 | -34.6% |
| Plant, machinery and equipment | 23 | €15,117 | €10,315 | -€4,802 | -31.8% |
| Furniture and vehicles | 24 | €2,329 | €1,102 | -€1,228 | -52.7% |
| Current assets | 29/58 | €42,036 | €27,493 | -€14,543 | -34.6% |
| Amounts receivable within one year | 40/41 | €37,800 | €25,618 | -€12,181 | -32.2% |
| Trade receivables | 40 | €36,463 | €15,391 | -€21,072 | -57.8% |
| Other amounts receivable | 41 | €1,337 | €10,227 | +€8,891 | +665% |
| Cash at bank and in hand | 54/58 | €4,237 | €1,875 | -€2,362 | -55.7% |
| Total equity and liabilities | 10/49 | €59,483 | €38,910 | -€20,573 | -34.6% |
| Equity | 10/15 | €9,808 | €11,212 | +€1,404 | +14.3% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,708 | €11,112 | +€1,404 | +14.5% |
| Amounts payable | 17/49 | €49,674 | €27,698 | -€21,977 | -44.2% |
| Amounts payable after more than one year | 17 | €20,250 | €20,250 | = | 0.0% |
| Financial debts | 170/4 | €20,250 | €20,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €29,424 | €7,448 | -€21,977 | -74.7% |
| Financial debts | 43 | - | €119 | +€119 | |
| Credit institutions | 430/8 | - | €119 | +€119 | |
| Trade debts | 44 | €21,869 | - | -€21,869 | |
| Suppliers | 440/4 | €21,869 | - | -€21,869 | |
| Taxes, remuneration and social security | 45 | €6,520 | €6,974 | +€453 | +7.0% |
| Taxes | 450/3 | €6,520 | €6,974 | +€453 | +7.0% |
| Other amounts payable | 47/48 | €1,035 | €355 | -€680 | -65.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €552 | €6,030 | +€5,477 | +992% |
| Other operating charges | 640/8 | €408 | €1,554 | +€1,145 | +281% |
| Gross operating margin | 9900 | €24,155 | €9,829 | -€14,326 | -59.3% |
| Operating profit (loss) | 9901 | €23,195 | €2,246 | -€20,949 | -90.3% |
| Financial charges | 65/66B | €129 | €303 | +€174 | +136% |
| Recurring financial charges | 65 | €129 | €303 | +€174 | +136% |
| Profit (loss) for the period before taxes | 9903 | €23,067 | €1,943 | -€21,123 | -91.6% |
| Income taxes | 67/77 | €6,434 | €539 | -€5,895 | -91.6% |
| Profit (loss) for the period | 9904 | €16,632 | €1,404 | -€15,228 | -91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,632 | €1,404 | -€15,228 | -91.6% |
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 18 October 2026 via checked.be.