GROWTH 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.
GROWTH STUDIO
Largest movements
- Cash -€48,191
down €48,191 (-81.0%), from €59,486 to €11,294
mainly Contributions, distributions and other (-€50,000) and Debts after one year (-€26,802)
- Tangible fixed assets -€6,827
down €6,827 (-42.3%), from €16,151 to €9,324
of which Other tangible fixed assets: -€4,497
- Receivables within one year +€5,898
up €5,898 (+20.8%), from €28,413 to €34,311
of which Other amounts receivable: +€4,028
- Debts after one year -€26,802
down €26,802 (-100.0%), from €26,802 to €0
- Other debts -€23,050
down €23,050 (-9.6%), from €239,188 to €216,138
- Current portion of long-term debt -€8,519
down €8,519 (-24.1%), from €35,320 to €26,802
- Profit (loss) carried forward +€6,114
up €6,114 (+30.7%), from €19,923 to €26,037
- Financial income -€126,122
down €126,122 (-100.0%), from €126,122 to €0
- Taxes -€31,369
down €31,369 (-60.0%), from €52,314 to €20,945
- Depreciation -€1,132
down €1,132 (-14.2%), from €7,960 to €6,827
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 | €348,758 | €299,430 | -€49,328 | -14.1% |
| Fixed assets | 21/28 | €260,651 | €253,824 | -€6,827 | -2.6% |
| Tangible fixed assets | 22/27 | €16,151 | €9,324 | -€6,827 | -42.3% |
| Furniture and vehicles | 24 | €4,784 | €2,454 | -€2,331 | -48.7% |
| Other tangible fixed assets | 26 | €11,367 | €6,870 | -€4,497 | -39.6% |
| Financial fixed assets | 28 | €244,500 | €244,500 | = | 0.0% |
| Current assets | 29/58 | €88,107 | €45,606 | -€42,501 | -48.2% |
| Amounts receivable within one year | 40/41 | €28,413 | €34,311 | +€5,898 | +20.8% |
| Trade receivables | 40 | €17,864 | €19,734 | +€1,870 | +10.5% |
| Other amounts receivable | 41 | €10,549 | €14,578 | +€4,028 | +38.2% |
| Cash at bank and in hand | 54/58 | €59,486 | €11,294 | -€48,191 | -81.0% |
| Deferred charges and accrued income | 490/1 | €208 | €0 | -€208 | -100.0% |
| Total equity and liabilities | 10/49 | €348,758 | €299,430 | -€49,328 | -14.1% |
| Equity | 10/15 | €38,523 | €44,637 | +€6,114 | +15.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,923 | €26,037 | +€6,114 | +30.7% |
| Amounts payable | 17/49 | €310,235 | €254,792 | -€55,443 | -17.9% |
| Amounts payable after more than one year | 17 | €26,802 | €0 | -€26,802 | -100.0% |
| Financial debts | 170/4 | €26,802 | €0 | -€26,802 | -100.0% |
| Amounts payable within one year | 42/48 | €283,433 | €254,382 | -€29,051 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €35,320 | €26,802 | -€8,519 | -24.1% |
| Financial debts | 43 | €90 | €4 | -€87 | -95.6% |
| Credit institutions | 430/8 | €90 | €4 | -€87 | -95.6% |
| Trade debts | 44 | €1,109 | €399 | -€710 | -64.0% |
| Suppliers | 440/4 | €1,109 | €399 | -€710 | -64.0% |
| Taxes, remuneration and social security | 45 | €7,725 | €11,040 | +€3,315 | +42.9% |
| Taxes | 450/3 | €7,725 | €8,789 | +€1,064 | +13.8% |
| Remuneration and social security | 454/9 | - | €2,251 | +€2,251 | |
| Other amounts payable | 47/48 | €239,188 | €216,138 | -€23,050 | -9.6% |
| Accrued charges and deferred income | 492/3 | - | €410 | +€410 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,960 | €6,827 | -€1,132 | -14.2% |
| Other operating charges | 640/8 | €873 | €900 | +€27 | +3.1% |
| Gross operating margin | 9900 | €86,147 | €85,503 | -€644 | -0.7% |
| Operating profit (loss) | 9901 | €77,315 | €77,776 | +€461 | +0.6% |
| Financial income | 75/76B | €126,122 | €0 | -€126,122 | -100.0% |
| Recurring financial income | 75 | €126,122 | €0 | -€126,122 | -100.0% |
| Financial charges | 65/66B | €1,200 | €717 | -€483 | -40.2% |
| Recurring financial charges | 65 | €1,200 | €717 | -€483 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €202,237 | €77,059 | -€125,178 | -61.9% |
| Income taxes | 67/77 | €52,314 | €20,945 | -€31,369 | -60.0% |
| Profit (loss) for the period | 9904 | €149,923 | €56,114 | -€93,809 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €149,923 | €56,114 | -€93,809 | -62.6% |
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 9 October 2026 via checked.be.