C&R 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.
C&R Studio
Largest movements
- Intangible fixed assets +€59,799
up €59,799 (+76.4%), from €78,274 to €138,073
- Cash -€20,465
down €20,465 (-89.4%), from €22,903 to €2,439
mainly Net result for the year (-€146,428) and Investment in fixed assets (net) (-€108,516)
- Receivables within one year -€15,912
down €15,912 (-36.1%), from €44,046 to €28,134
of which Trade receivables: -€13,006
- Deferred charges and accrued income +€6,350
up €6,350 (+1563.7%), from €406 to €6,756
- Tangible fixed assets +€3,650
up €3,650 (+14.4%), from €25,413 to €29,063
of which Furniture and vehicles: +€3,650
- Profit (loss) carried forward -€146,428
new in 2025: -€146,428
- Debts after one year +€115,135
up €115,135 (+159.3%), from €72,294 to €187,429
- Current portion of long-term debt +€32,291
up €32,291 (+382.5%), from €8,441 to €40,732
- Other debts +€15,384
up €15,384 (+329.5%), from €4,670 to €20,053
- Trade debts +€6,722
up €6,722 (+13.0%), from €51,792 to €58,514
- Gross operating margin -€156,746
down €156,746, from €112,726 to -€44,020
- Depreciation +€37,716
up €37,716 (+461.6%), from €8,170 to €45,886
- Staff costs -€30,619
down €30,619 (-44.7%), from €68,548 to €37,929
- Financial charges +€9,695
up €9,695 (+379.1%), from €2,557 to €12,252
- Taxes -€9,567
down €9,567, from €9,566 to -€2
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 | €179,593 | €213,119 | +€33,526 | +18.7% |
| Fixed assets | 21/28 | €112,237 | €174,867 | +€62,630 | +55.8% |
| Intangible fixed assets | 21 | €78,274 | €138,073 | +€59,799 | +76.4% |
| Tangible fixed assets | 22/27 | €25,413 | €29,063 | +€3,650 | +14.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €25,413 | €29,063 | +€3,650 | +14.4% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €8,550 | €7,731 | -€819 | -9.6% |
| Current assets | 29/58 | €67,356 | €38,252 | -€29,104 | -43.2% |
| Stocks and contracts in progress | 3 | - | €923 | +€923 | |
| Stocks | 30/36 | - | €923 | +€923 | |
| Amounts receivable within one year | 40/41 | €44,046 | €28,134 | -€15,912 | -36.1% |
| Trade receivables | 40 | €26,040 | €13,035 | -€13,006 | -49.9% |
| Other amounts receivable | 41 | €18,006 | €15,100 | -€2,906 | -16.1% |
| Cash at bank and in hand | 54/58 | €22,903 | €2,439 | -€20,465 | -89.4% |
| Deferred charges and accrued income | 490/1 | €406 | €6,756 | +€6,350 | +1563.7% |
| Total equity and liabilities | 10/49 | €179,593 | €213,119 | +€33,526 | +18.7% |
| Equity | 10/15 | €23,313 | -€123,114 | -€146,428 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €22,313 | €22,313 | = | 0.0% |
| Distributable reserves | 133 | €22,313 | €22,313 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€146,428 | -€146,428 | |
| Amounts payable | 17/49 | €156,280 | €336,233 | +€179,954 | +115.1% |
| Amounts payable after more than one year | 17 | €72,294 | €187,429 | +€115,135 | +159.3% |
| Financial debts | 170/4 | €72,294 | €187,429 | +€115,135 | +159.3% |
| Amounts payable within one year | 42/48 | €82,586 | €144,234 | +€61,648 | +74.6% |
| Current portion of amounts payable after more than one year | 42 | €8,441 | €40,732 | +€32,291 | +382.5% |
| Financial debts | 43 | - | €4,534 | +€4,534 | |
| Credit institutions | 430/8 | - | €4,534 | +€4,534 | |
| Trade debts | 44 | €51,792 | €58,514 | +€6,722 | +13.0% |
| Suppliers | 440/4 | €51,792 | €58,514 | +€6,722 | +13.0% |
| Taxes, remuneration and social security | 45 | €17,683 | €20,401 | +€2,718 | +15.4% |
| Taxes | 450/3 | €6,698 | €13,005 | +€6,307 | +94.2% |
| Remuneration and social security | 454/9 | €10,986 | €7,396 | -€3,590 | -32.7% |
| Other amounts payable | 47/48 | €4,670 | €20,053 | +€15,384 | +329.5% |
| Accrued charges and deferred income | 492/3 | €1,400 | €4,571 | +€3,171 | +226.5% |
| Non-recurring operating income | 76A | €63,290 | €0 | -€63,290 | -100.0% |
| Remuneration, social security and pensions | 62 | €68,548 | €37,929 | -€30,619 | -44.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,170 | €45,886 | +€37,716 | +461.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,837 | +€2,837 | |
| Other operating charges | 640/8 | €4,246 | €3,506 | -€740 | -17.4% |
| Gross operating margin | 9900 | €112,726 | -€44,020 | -€156,746 | |
| Operating profit (loss) | 9901 | €31,762 | -€134,177 | -€165,939 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €2,557 | €12,252 | +€9,695 | +379.1% |
| Recurring financial charges | 65 | €2,557 | €12,252 | +€9,695 | +379.1% |
| Profit (loss) for the period before taxes | 9903 | €29,207 | -€146,429 | -€175,636 | |
| Income taxes | 67/77 | €9,566 | -€2 | -€9,567 | |
| Profit (loss) for the period | 9904 | €19,641 | -€146,428 | -€166,069 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,641 | -€146,428 | -€166,069 |
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 12 October 2026 via checked.be.