F9 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.
F9 STUDIO
Largest movements
- Cash +€33,794
up €33,794 (+356.6%), from €9,476 to €43,270
mainly Net result for the year (+€25,142) and Tax, wage and social debts (+€11,798)
- Receivables within one year +€10,286
up €10,286 (+302.5%), from €3,400 to €13,686
of which Trade receivables: +€9,667
- Tangible fixed assets -€4,392
down €4,392 (-37.2%), from €11,793 to €7,401
- Intangible fixed assets -€3,870
down €3,870 (-13.3%), from €29,078 to €25,208
- Profit (loss) carried forward +€25,142
up €25,142 (+449.6%), from €5,592 to €30,734
- Tax, wage and social debts +€11,798
up €11,798 (+1161.2%), from €1,016 to €12,814
- Accrued charges and deferred income -€5,510
no longer reported in 2025 (was €5,510)
- Other debts +€3,867
up €3,867 (+14.6%), from €26,429 to €30,296
- Gross operating margin +€32,768
up €32,768 (+230.3%), from €14,231 to €46,999
- Taxes +€7,448
up €7,448 (+378.3%), from €1,969 to €9,417
- Depreciation +€1,495
up €1,495 (+15.4%), from €9,701 to €11,196
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 | €53,747 | €89,565 | +€35,818 | +66.6% |
| Fixed assets | 21/28 | €40,871 | €32,609 | -€8,262 | -20.2% |
| Intangible fixed assets | 21 | €29,078 | €25,208 | -€3,870 | -13.3% |
| Tangible fixed assets | 22/27 | €11,793 | €7,401 | -€4,392 | -37.2% |
| Furniture and vehicles | 24 | €11,793 | €7,401 | -€4,392 | -37.2% |
| Current assets | 29/58 | €12,876 | €56,956 | +€44,080 | +342.3% |
| Amounts receivable within one year | 40/41 | €3,400 | €13,686 | +€10,286 | +302.5% |
| Trade receivables | 40 | €3,400 | €13,067 | +€9,667 | +284.3% |
| Other amounts receivable | 41 | - | €619 | +€619 | |
| Cash at bank and in hand | 54/58 | €9,476 | €43,270 | +€33,794 | +356.6% |
| Total equity and liabilities | 10/49 | €53,747 | €89,565 | +€35,818 | +66.6% |
| Equity | 10/15 | €20,792 | €45,934 | +€25,142 | +120.9% |
| Contributions | 10/11 | €15,200 | €15,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,592 | €30,734 | +€25,142 | +449.6% |
| Amounts payable | 17/49 | €32,955 | €43,631 | +€10,676 | +32.4% |
| Amounts payable within one year | 42/48 | €27,445 | €43,631 | +€16,186 | +59.0% |
| Trade debts | 44 | - | €521 | +€521 | |
| Suppliers | 440/4 | - | €521 | +€521 | |
| Taxes, remuneration and social security | 45 | €1,016 | €12,814 | +€11,798 | +1161.2% |
| Taxes | 450/3 | €1,016 | €12,814 | +€11,798 | +1161.2% |
| Other amounts payable | 47/48 | €26,429 | €30,296 | +€3,867 | +14.6% |
| Accrued charges and deferred income | 492/3 | €5,510 | - | -€5,510 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,701 | €11,196 | +€1,495 | +15.4% |
| Other operating charges | 640/8 | €1,302 | €1,198 | -€104 | -8.0% |
| Gross operating margin | 9900 | €14,231 | €46,999 | +€32,768 | +230.3% |
| Operating profit (loss) | 9901 | €3,228 | €34,606 | +€31,378 | +972.0% |
| Financial charges | 65/66B | €114 | €46 | -€68 | -59.3% |
| Recurring financial charges | 65 | €114 | €46 | -€68 | -59.3% |
| Profit (loss) for the period before taxes | 9903 | €3,114 | €34,559 | +€31,445 | +1009.8% |
| Income taxes | 67/77 | €1,969 | €9,417 | +€7,448 | +378.3% |
| Profit (loss) for the period | 9904 | €1,145 | €25,142 | +€23,997 | +2095.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,145 | €25,142 | +€23,997 | +2095.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.