GR 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.
GR Studio
Largest movements
- Tangible fixed assets +€8,290
up €8,290 (+5.7%), from €145,967 to €154,257
of which Furniture and vehicles: +€12,914
- Cash -€6,730
down €6,730 (-76.2%), from €8,837 to €2,108
mainly Investment in fixed assets (net) (-€14,415) and Net result for the year (-€7,345)
- Deferred charges and accrued income -€3,597
no longer reported in 2025 (was €3,597)
- Profit (loss) carried forward -€7,345
down €7,345 (-38.0%), from €19,353 to €12,008
- Current portion of long-term debt +€6,914
up €6,914 (+171.5%), from €4,030 to €10,944
- Debts after one year -€4,225
down €4,225 (-3.6%), from €117,126 to €112,900
- Other debts +€3,084
up €3,084 (+81.8%), from €3,771 to €6,855
- Gross operating margin -€5,021
down €5,021 (-38.5%), from €13,028 to €8,007
- Other operating charges +€2,463
new in 2025: €2,463
- Depreciation +€1,501
up €1,501 (+32.5%), from €4,624 to €6,125
- Taxes -€991
down €991 (-83.9%), from €1,181 to €190
- Financial charges +€250
up €250 (+4.0%), from €6,323 to €6,573
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 | €169,063 | €167,584 | -€1,479 | -0.9% |
| Fixed assets | 21/28 | €145,967 | €154,257 | +€8,290 | +5.7% |
| Tangible fixed assets | 22/27 | €145,967 | €154,257 | +€8,290 | +5.7% |
| Land and buildings | 22 | €144,767 | €140,443 | -€4,324 | -3.0% |
| Furniture and vehicles | 24 | - | €12,914 | +€12,914 | |
| Other tangible fixed assets | 26 | €1,200 | €900 | -€300 | -25.0% |
| Current assets | 29/58 | €23,096 | €13,327 | -€9,768 | -42.3% |
| Amounts receivable within one year | 40/41 | €10,661 | €11,220 | +€559 | +5.2% |
| Trade receivables | 40 | €9,534 | €11,220 | +€1,686 | +17.7% |
| Other amounts receivable | 41 | €1,127 | - | -€1,127 | |
| Cash at bank and in hand | 54/58 | €8,837 | €2,108 | -€6,730 | -76.2% |
| Deferred charges and accrued income | 490/1 | €3,597 | - | -€3,597 | |
| Total equity and liabilities | 10/49 | €169,063 | €167,584 | -€1,479 | -0.9% |
| Equity | 10/15 | €38,230 | €30,885 | -€7,345 | -19.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €277 | €277 | = | 0.0% |
| Distributable reserves | 133 | €277 | €277 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,353 | €12,008 | -€7,345 | -38.0% |
| Amounts payable | 17/49 | €130,833 | €136,699 | +€5,866 | +4.5% |
| Amounts payable after more than one year | 17 | €117,126 | €112,900 | -€4,225 | -3.6% |
| Financial debts | 170/4 | €117,126 | €112,900 | -€4,225 | -3.6% |
| Amounts payable within one year | 42/48 | €13,708 | €23,799 | +€10,091 | +73.6% |
| Current portion of amounts payable after more than one year | 42 | €4,030 | €10,944 | +€6,914 | +171.5% |
| Trade debts | 44 | €3,699 | €3,861 | +€162 | +4.4% |
| Suppliers | 440/4 | €3,699 | €3,861 | +€162 | +4.4% |
| Taxes, remuneration and social security | 45 | €2,207 | €2,139 | -€68 | -3.1% |
| Taxes | 450/3 | €2,207 | €2,139 | -€68 | -3.1% |
| Other amounts payable | 47/48 | €3,771 | €6,855 | +€3,084 | +81.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,624 | €6,125 | +€1,501 | +32.5% |
| Other operating charges | 640/8 | - | €2,463 | +€2,463 | |
| Gross operating margin | 9900 | €13,028 | €8,007 | -€5,021 | -38.5% |
| Operating profit (loss) | 9901 | €8,403 | -€581 | -€8,984 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €6,323 | €6,573 | +€250 | +4.0% |
| Recurring financial charges | 65 | €6,323 | €6,573 | +€250 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €2,082 | -€7,154 | -€9,236 | |
| Income taxes | 67/77 | €1,181 | €190 | -€991 | -83.9% |
| Profit (loss) for the period | 9904 | €901 | -€7,345 | -€8,245 | |
| Profit (loss) for the period to be appropriated | 9905 | €901 | -€7,345 | -€8,245 |
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 7 October 2026 via checked.be.