ERGO 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.
ERGO STUDIO
Largest movements
- Stocks and contracts -€10,000
down €10,000 (-48.3%), from €20,708 to €10,708
- Cash +€7,926
up €7,926 (+43.5%), from €18,204 to €26,130
mainly Depreciation (+€30,723) and Net result for the year (+€15,129)
- Tangible fixed assets +€6,276
up €6,276 (+7.4%), from €85,148 to €91,424
of which Plant, machinery and equipment: +€23,518
- Receivables within one year -€5,531
down €5,531 (-85.0%), from €6,507 to €976
- Deferred charges and accrued income +€4,728
up €4,728 (+281%), from €1,684 to €6,412
- Profit (loss) carried forward +€15,124
up €15,124, from -€15,020 to €104
- Trade debts -€15,102
down €15,102 (-42.5%), from €35,545 to €20,443
- Debts after one year +€4,926
up €4,926 (+9.2%), from €53,319 to €58,245
- Gross operating margin +€29,848
up €29,848 (+39.5%), from €75,657 to €105,505
- Write-downs +€10,000
up €10,000, from €0 to €10,000
- Staff costs -€8,006
down €8,006 (-15.0%), from €53,369 to €45,363
- Financial income +€7,240
up €7,240 (+1,316%), from €550 to €7,790
- Other operating charges -€4,925
down €4,925 (-84.4%), from €5,834 to €909
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 | €133,230 | €136,630 | +€3,400 | +2.6% |
| Fixed assets | 21/28 | €86,128 | €92,404 | +€6,276 | +7.3% |
| Tangible fixed assets | 22/27 | €85,148 | €91,424 | +€6,276 | +7.4% |
| Plant, machinery and equipment | 23 | €15,222 | €38,739 | +€23,518 | +155% |
| Furniture and vehicles | 24 | €69,864 | €52,685 | -€17,179 | -24.6% |
| Other tangible fixed assets | 26 | €63 | €0 | -€63 | -100% |
| Financial fixed assets | 28 | €980 | €980 | = | 0.0% |
| Current assets | 29/58 | €47,102 | €44,226 | -€2,876 | -6.1% |
| Stocks and contracts in progress | 3 | €20,708 | €10,708 | -€10,000 | -48.3% |
| Stocks | 30/36 | €20,708 | €10,708 | -€10,000 | -48.3% |
| Amounts receivable within one year | 40/41 | €6,507 | €976 | -€5,531 | -85.0% |
| Trade receivables | 40 | €6,507 | €976 | -€5,531 | -85.0% |
| Cash at bank and in hand | 54/58 | €18,204 | €26,130 | +€7,926 | +43.5% |
| Deferred charges and accrued income | 490/1 | €1,684 | €6,412 | +€4,728 | +281% |
| Total equity and liabilities | 10/49 | €133,230 | €136,630 | +€3,400 | +2.6% |
| Equity | 10/15 | €5,440 | €20,564 | +€15,124 | +278% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,020 | €104 | +€15,124 | |
| Amounts payable | 17/49 | €127,790 | €116,066 | -€11,724 | -9.2% |
| Amounts payable after more than one year | 17 | €53,319 | €58,245 | +€4,926 | +9.2% |
| Financial debts | 170/4 | €53,319 | €58,245 | +€4,926 | +9.2% |
| Amounts payable within one year | 42/48 | €74,471 | €57,821 | -€16,650 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €17,652 | €18,080 | +€428 | +2.4% |
| Trade debts | 44 | €35,545 | €20,443 | -€15,102 | -42.5% |
| Suppliers | 440/4 | €35,545 | €20,443 | -€15,102 | -42.5% |
| Taxes, remuneration and social security | 45 | €20,435 | €19,298 | -€1,137 | -5.6% |
| Taxes | 450/3 | €13,220 | €11,494 | -€1,726 | -13.1% |
| Remuneration and social security | 454/9 | €7,214 | €7,804 | +€590 | +8.2% |
| Other amounts payable | 47/48 | €840 | - | -€840 | |
| Remuneration, social security and pensions | 62 | €53,369 | €45,363 | -€8,006 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,725 | €30,723 | +€998 | +3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €5,834 | €909 | -€4,925 | -84.4% |
| Gross operating margin | 9900 | €75,657 | €105,505 | +€29,848 | +39.5% |
| Operating profit (loss) | 9901 | -€13,272 | €18,510 | +€31,782 | |
| Financial income | 75/76B | €550 | €7,790 | +€7,240 | +1,316% |
| Recurring financial income | 75 | €550 | €7,790 | +€7,240 | +1,316% |
| Financial charges | 65/66B | €5,608 | €10,023 | +€4,415 | +78.7% |
| Recurring financial charges | 65 | €5,608 | €10,023 | +€4,415 | +78.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,329 | €16,277 | +€34,606 | |
| Income taxes | 67/77 | €262 | €1,148 | +€886 | +338% |
| Profit (loss) for the period | 9904 | -€18,591 | €15,129 | +€33,720 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,591 | €15,129 | +€33,720 |
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 30 October 2026 via checked.be.