DOGSTUDIO: 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.
DOGSTUDIO
Largest movements
- Receivables after one year -€3.0m
down €3.0m (-100%), from €3.0m to €0
- Cash +€268,809
up €268,809 (+113%), from €238,792 to €507,601
mainly Receivables after one year (+€3.0m) and Net result for the year (+€125,677)
- Receivables within one year -€59,893
down €59,893 (-4.2%), from €1.4m to €1.4m
of which Trade receivables: -€53,270
- Other debts -€3.0m
down €3.0m (-100%), from €3.0m to €0
- Profit (loss) carried forward +€125,677
up €125,677 (+10.5%), from €1.2m to €1.3m
- Tax, wage and social debts +€60,481
up €60,481 (+74.9%), from €80,699 to €141,180
of which Taxes: +€45,158
- Financial income -€2.7m
down €2.7m (-93.6%), from €2.9m to €184,242
of which Non-recurring financial income: -€2.7m
- Write-downs +€126,287
up €126,287, from -€126,287 to €0
- Taxes +€69,247
up €69,247 (+791%), from €8,752 to €77,999
- Gross operating margin +€66,726
up €66,726 (+15.1%), from €441,067 to €507,794
- Staff costs +€17,457
up €17,457 (+3.9%), from €449,788 to €467,245
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 | €4,693,710 | €1,867,426 | -€2.8m | -60.2% |
| Fixed assets | 21/28 | €4,051 | €0 | -€4,051 | -100% |
| Tangible fixed assets | 22/27 | €3,951 | €0 | -€3,951 | -100% |
| Plant, machinery and equipment | 23 | €3,951 | €0 | -€3,951 | -100% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €100 | €0 | -€100 | -100% |
| Current assets | 29/58 | €4,689,659 | €1,867,426 | -€2.8m | -60.2% |
| Amounts receivable after more than one year | 29 | €3,030,298 | €0 | -€3.0m | -100% |
| Trade receivables | 290 | €3,030,298 | €0 | -€3.0m | -100% |
| Amounts receivable within one year | 40/41 | €1,417,983 | €1,358,091 | -€59,893 | -4.2% |
| Trade receivables | 40 | €1,290,627 | €1,237,357 | -€53,270 | -4.1% |
| Other amounts receivable | 41 | €127,356 | €120,734 | -€6,622 | -5.2% |
| Cash at bank and in hand | 54/58 | €238,792 | €507,601 | +€268,809 | +113% |
| Deferred charges and accrued income | 490/1 | €2,586 | €1,734 | -€852 | -32.9% |
| Total equity and liabilities | 10/49 | €4,693,710 | €1,867,426 | -€2.8m | -60.2% |
| Equity | 10/15 | €1,509,495 | €1,635,172 | +€125,677 | +8.3% |
| Contributions | 10/11 | €278,057 | €278,057 | = | 0.0% |
| Capital | 10 | €278,057 | €278,057 | = | 0.0% |
| Issued capital | 100 | €278,057 | €278,057 | = | 0.0% |
| Reserves | 13 | €32,717 | €32,717 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,806 | €27,806 | = | 0.0% |
| Legal reserve | 130 | €27,806 | €27,806 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,549 | €3,549 | = | 0.0% |
| Distributable reserves | 133 | €1,362 | €1,362 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,198,721 | €1,324,399 | +€125,677 | +10.5% |
| Amounts payable | 17/49 | €3,184,215 | €232,254 | -€3.0m | -92.7% |
| Amounts payable within one year | 42/48 | €3,184,215 | €232,254 | -€3.0m | -92.7% |
| Trade debts | 44 | €73,218 | €91,074 | +€17,856 | +24.4% |
| Suppliers | 440/4 | €73,218 | €91,074 | +€17,856 | +24.4% |
| Taxes, remuneration and social security | 45 | €80,699 | €141,180 | +€60,481 | +74.9% |
| Taxes | 450/3 | €49,066 | €94,224 | +€45,158 | +92.0% |
| Remuneration and social security | 454/9 | €31,633 | €46,956 | +€15,323 | +48.4% |
| Other amounts payable | 47/48 | €3,030,298 | €0 | -€3.0m | -100% |
| Remuneration, social security and pensions | 62 | €449,788 | €467,245 | +€17,457 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,832 | €3,951 | -€1,881 | -32.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€126,287 | €0 | +€126,287 | |
| Other operating charges | 640/8 | €7,978 | €1,165 | -€6,813 | -85.4% |
| Non-recurring operating charges | 66A | €709 | €0 | -€709 | -100% |
| Gross operating margin | 9900 | €441,067 | €507,794 | +€66,726 | +15.1% |
| Operating profit (loss) | 9901 | €103,048 | €35,433 | -€67,615 | -65.6% |
| Financial income | 75/76B | €2,887,805 | €184,242 | -€2.7m | -93.6% |
| Recurring financial income | 75 | €189,322 | €184,242 | -€5,080 | -2.7% |
| Non-recurring financial income | 76B | €2,698,484 | €0 | -€2.7m | -100% |
| Financial charges | 65/66B | €28,609 | €15,998 | -€12,611 | -44.1% |
| Recurring financial charges | 65 | €28,609 | €15,998 | -€12,611 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | €2,962,244 | €203,677 | -€2.8m | -93.1% |
| Income taxes | 67/77 | €8,752 | €77,999 | +€69,247 | +791% |
| Profit (loss) for the period | 9904 | €2,953,492 | €125,677 | -€2.8m | -95.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,953,492 | €125,677 | -€2.8m | -95.7% |
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 27 October 2026 via checked.be.