GS 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.
GS STUDIO
Largest movements
- Cash +€24,360
up €24,360 (+69.9%), from €34,825 to €59,185
mainly Net result for the year (+€22,960) and Depreciation (+€3,160)
- Tangible fixed assets -€1,817
down €1,817 (-21.7%), from €8,368 to €6,551
of which Plant, machinery and equipment: -€1,562
- Deferred charges and accrued income -€860
no longer reported in 2025 (was €860)
- Profit (loss) carried forward +€22,960
up €22,960 (+152.9%), from €15,015 to €37,975
- Staff costs -€30,533
down €30,533 (-39.1%), from €78,014 to €47,481
- Taxes +€6,265
up €6,265 (+1504.8%), from €416 to €6,682
- Gross operating margin -€1,815
down €1,815 (-2.2%), from €84,049 to €82,234
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 | €47,850 | €69,369 | +€21,519 | +45.0% |
| Fixed assets | 21/28 | €8,368 | €6,551 | -€1,817 | -21.7% |
| Tangible fixed assets | 22/27 | €8,368 | €6,551 | -€1,817 | -21.7% |
| Plant, machinery and equipment | 23 | €6,607 | €5,046 | -€1,562 | -23.6% |
| Furniture and vehicles | 24 | €1,760 | €1,505 | -€255 | -14.5% |
| Current assets | 29/58 | €39,483 | €62,818 | +€23,336 | +59.1% |
| Stocks and contracts in progress | 3 | €3,797 | €3,105 | -€692 | -18.2% |
| Stocks | 30/36 | €3,797 | €3,105 | -€692 | -18.2% |
| Amounts receivable within one year | 40/41 | - | €528 | +€528 | |
| Trade receivables | 40 | - | €528 | +€528 | |
| Cash at bank and in hand | 54/58 | €34,825 | €59,185 | +€24,360 | +69.9% |
| Deferred charges and accrued income | 490/1 | €860 | - | -€860 | |
| Total equity and liabilities | 10/49 | €47,850 | €69,369 | +€21,519 | +45.0% |
| Equity | 10/15 | €20,015 | €42,975 | +€22,960 | +114.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,015 | €37,975 | +€22,960 | +152.9% |
| Amounts payable | 17/49 | €27,835 | €26,394 | -€1,441 | -5.2% |
| Amounts payable within one year | 42/48 | €26,815 | €25,374 | -€1,441 | -5.4% |
| Trade debts | 44 | €3,875 | €3,486 | -€389 | -10.0% |
| Suppliers | 440/4 | €3,875 | €3,486 | -€389 | -10.0% |
| Taxes, remuneration and social security | 45 | €22,513 | €21,887 | -€626 | -2.8% |
| Taxes | 450/3 | €13,238 | €16,570 | +€3,332 | +25.2% |
| Remuneration and social security | 454/9 | €9,275 | €5,318 | -€3,957 | -42.7% |
| Other amounts payable | 47/48 | €427 | - | -€427 | |
| Accrued charges and deferred income | 492/3 | €1,020 | €1,020 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €78,014 | €47,481 | -€30,533 | -39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,697 | €3,160 | +€463 | +17.2% |
| Other operating charges | 640/8 | €1,512 | €1,018 | -€494 | -32.7% |
| Gross operating margin | 9900 | €84,049 | €82,234 | -€1,815 | -2.2% |
| Operating profit (loss) | 9901 | €1,826 | €30,576 | +€28,749 | +1574.2% |
| Financial charges | 65/66B | €99 | €934 | +€835 | +847.0% |
| Recurring financial charges | 65 | €99 | €934 | +€835 | +847.0% |
| Profit (loss) for the period before taxes | 9903 | €1,728 | €29,642 | +€27,914 | +1615.7% |
| Income taxes | 67/77 | €416 | €6,682 | +€6,265 | +1504.8% |
| Profit (loss) for the period | 9904 | €1,311 | €22,960 | +€21,649 | +1650.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,311 | €22,960 | +€21,649 | +1650.9% |
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 11 October 2026 via checked.be.