D&G STUDIO: 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.
D&G STUDIO
Largest movements
- Tangible fixed assets +€171,286
up €171,286 (+5737.4%), from €2,985 to €174,272
- Receivables within one year -€53,056
down €53,056 (-39.1%), from €135,847 to €82,791
of which Trade receivables: -€46,820
- Cash -€24,949
down €24,949 (-51.4%), from €48,580 to €23,631
mainly Investment in fixed assets (net) (-€184,005) and Trade debts (-€37,608)
- Current investments +€22,000
up €22,000 (+82.0%), from €26,821 to €48,821
- Deferred charges and accrued income +€3,639
up €3,639 (+217.4%), from €1,674 to €5,313
- Other debts +€110,007
new in 2025: €110,007
- Reserves +€55,000
up €55,000 (+29.3%), from €187,434 to €242,434
of which Distributable reserves: +€55,000
- Trade debts -€37,608
down €37,608 (-91.7%), from €41,002 to €3,395
- Tax, wage and social debts -€9,457
down €9,457 (-64.7%), from €14,614 to €5,157
- Gross operating margin +€38,824
up €38,824 (+42.1%), from €92,161 to €130,985
- Depreciation +€10,758
up €10,758 (+548.7%), from €1,961 to €12,719
- Taxes +€9,299
up €9,299 (+37.4%), from €24,831 to €34,130
- Financial income +€2,537
up €2,537 (+145790.8%), from €2 to €2,539
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 | €216,158 | €335,078 | +€118,920 | +55.0% |
| Fixed assets | 21/28 | €3,235 | €174,522 | +€171,286 | +5294.0% |
| Tangible fixed assets | 22/27 | €2,985 | €174,272 | +€171,286 | +5737.4% |
| Furniture and vehicles | 24 | €2,985 | €174,272 | +€171,286 | +5737.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €212,923 | €160,557 | -€52,366 | -24.6% |
| Amounts receivable within one year | 40/41 | €135,847 | €82,791 | -€53,056 | -39.1% |
| Trade receivables | 40 | €98,619 | €51,799 | -€46,820 | -47.5% |
| Other amounts receivable | 41 | €37,228 | €30,992 | -€6,236 | -16.8% |
| Current investments | 50/53 | €26,821 | €48,821 | +€22,000 | +82.0% |
| Cash at bank and in hand | 54/58 | €48,580 | €23,631 | -€24,949 | -51.4% |
| Deferred charges and accrued income | 490/1 | €1,674 | €5,313 | +€3,639 | +217.4% |
| Total equity and liabilities | 10/49 | €216,158 | €335,078 | +€118,920 | +55.0% |
| Equity | 10/15 | €160,542 | €216,519 | +€55,978 | +34.9% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €187,434 | €242,434 | +€55,000 | +29.3% |
| Tax-exempt reserves | 132 | €15,951 | €15,951 | = | 0.0% |
| Distributable reserves | 133 | €171,483 | €226,483 | +€55,000 | +32.1% |
| Profit (loss) carried forward | 14 | -€46,724 | -€45,746 | +€978 | +2.1% |
| Amounts payable | 17/49 | €55,617 | €118,559 | +€62,942 | +113.2% |
| Amounts payable within one year | 42/48 | €55,617 | €118,559 | +€62,942 | +113.2% |
| Trade debts | 44 | €41,002 | €3,395 | -€37,608 | -91.7% |
| Suppliers | 440/4 | €41,002 | €3,395 | -€37,608 | -91.7% |
| Taxes, remuneration and social security | 45 | €14,614 | €5,157 | -€9,457 | -64.7% |
| Taxes | 450/3 | €14,614 | €5,157 | -€9,457 | -64.7% |
| Other amounts payable | 47/48 | - | €110,007 | +€110,007 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,961 | €12,719 | +€10,758 | +548.7% |
| Other operating charges | 640/8 | €631 | €651 | +€20 | +3.1% |
| Gross operating margin | 9900 | €92,161 | €130,985 | +€38,824 | +42.1% |
| Operating profit (loss) | 9901 | €89,568 | €117,615 | +€28,046 | +31.3% |
| Financial income | 75/76B | €2 | €2,539 | +€2,537 | +145790.8% |
| Recurring financial income | 75 | €2 | €2,539 | +€2,537 | +145790.8% |
| Financial charges | 65/66B | €239 | €45 | -€194 | -81.2% |
| Recurring financial charges | 65 | €239 | €45 | -€194 | -81.2% |
| Profit (loss) for the period before taxes | 9903 | €89,331 | €120,108 | +€30,777 | +34.5% |
| Income taxes | 67/77 | €24,831 | €34,130 | +€9,299 | +37.4% |
| Profit (loss) for the period | 9904 | €64,499 | €85,978 | +€21,478 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,499 | €85,978 | +€21,478 | +33.3% |
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 1 October 2026 via checked.be.