HANGAR 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.
HANGAR STUDIO
Largest movements
- Cash -€811,791
down €811,791 (-89.4%), from €907,882 to €96,091
mainly Contributions, distributions and other (-€1.0m) and Receivables within one year (-€781,886)
- Receivables within one year +€781,886
up €781,886 (+166.7%), from €469,158 to €1.3m
of which Trade receivables: +€876,654
- Deferred charges and accrued income -€66,643
down €66,643 (-24.5%), from €271,931 to €205,288
- Profit (loss) carried forward -€306,428
down €306,428 (-100.0%), from €306,428 to €0
- Other debts +€267,319
up €267,319 (+43.9%), from €609,526 to €876,845
- Trade debts -€86,803
down €86,803 (-14.0%), from €621,425 to €534,622
- Accrued charges and deferred income +€60,795
new in 2025: €60,795
- Tax, wage and social debts -€34,663
down €34,663 (-29.6%), from €117,185 to €82,522
of which Taxes: -€42,890
- Staff costs +€157,384
up €157,384 (+466.0%), from €33,773 to €191,157
- Other operating charges +€39,882
up €39,882 (+6592.8%), from €605 to €40,487
- Gross operating margin +€35,800
up €35,800 (+3.1%), from €1.2m to €1.2m
- Financial charges -€33,047
down €33,047 (-90.7%), from €36,435 to €3,388
- Taxes -€31,249
down €31,249 (-11.4%), from €273,561 to €242,312
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 | €1,656,565 | €1,556,784 | -€99,780 | -6.0% |
| Fixed assets | 21/28 | €7,593 | €4,361 | -€3,232 | -42.6% |
| Intangible fixed assets | 21 | €2,558 | €1,535 | -€1,023 | -40.0% |
| Tangible fixed assets | 22/27 | €4,771 | €2,562 | -€2,209 | -46.3% |
| Plant, machinery and equipment | 23 | €1,920 | €1,160 | -€759 | -39.5% |
| Furniture and vehicles | 24 | €2,851 | €1,401 | -€1,450 | -50.9% |
| Financial fixed assets | 28 | €265 | €265 | = | 0.0% |
| Current assets | 29/58 | €1,648,972 | €1,552,424 | -€96,548 | -5.9% |
| Amounts receivable within one year | 40/41 | €469,158 | €1,251,044 | +€781,886 | +166.7% |
| Trade receivables | 40 | €223,051 | €1,099,705 | +€876,654 | +393.0% |
| Other amounts receivable | 41 | €246,107 | €151,339 | -€94,768 | -38.5% |
| Cash at bank and in hand | 54/58 | €907,882 | €96,091 | -€811,791 | -89.4% |
| Deferred charges and accrued income | 490/1 | €271,931 | €205,288 | -€66,643 | -24.5% |
| Total equity and liabilities | 10/49 | €1,656,565 | €1,556,784 | -€99,780 | -6.0% |
| Equity | 10/15 | €308,428 | €2,000 | -€306,428 | -99.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €306,428 | €0 | -€306,428 | -100.0% |
| Amounts payable | 17/49 | €1,348,137 | €1,554,784 | +€206,648 | +15.3% |
| Amounts payable within one year | 42/48 | €1,348,137 | €1,493,989 | +€145,853 | +10.8% |
| Trade debts | 44 | €621,425 | €534,622 | -€86,803 | -14.0% |
| Suppliers | 440/4 | €621,425 | €534,622 | -€86,803 | -14.0% |
| Taxes, remuneration and social security | 45 | €117,185 | €82,522 | -€34,663 | -29.6% |
| Taxes | 450/3 | €108,122 | €65,232 | -€42,890 | -39.7% |
| Remuneration and social security | 454/9 | €9,063 | €17,290 | +€8,227 | +90.8% |
| Other amounts payable | 47/48 | €609,526 | €876,845 | +€267,319 | +43.9% |
| Accrued charges and deferred income | 492/3 | - | €60,795 | +€60,795 | |
| Remuneration, social security and pensions | 62 | €33,773 | €191,157 | +€157,384 | +466.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,040 | €4,281 | +€242 | +6.0% |
| Other operating charges | 640/8 | €605 | €40,487 | +€39,882 | +6592.8% |
| Gross operating margin | 9900 | €1,154,014 | €1,189,815 | +€35,800 | +3.1% |
| Operating profit (loss) | 9901 | €1,115,597 | €953,890 | -€161,707 | -14.5% |
| Financial income | 75/76B | €55 | €128 | +€73 | +131.8% |
| Recurring financial income | 75 | €55 | €128 | +€73 | +131.8% |
| Financial charges | 65/66B | €36,435 | €3,388 | -€33,047 | -90.7% |
| Recurring financial charges | 65 | €36,435 | €3,388 | -€33,047 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | €1,079,217 | €950,630 | -€128,588 | -11.9% |
| Income taxes | 67/77 | €273,561 | €242,312 | -€31,249 | -11.4% |
| Profit (loss) for the period | 9904 | €805,656 | €708,318 | -€97,339 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €805,656 | €708,318 | -€97,339 | -12.1% |
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 5 October 2026 via checked.be.