HARDWORK 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.
HARDWORK STUDIO
Largest movements
- Tangible fixed assets -€149
no longer reported in 2025 (was €149)
- Cash +€77
up €77 (+273.4%), from €28 to €105
mainly Other debts (+€638) and Depreciation (+€149)
- Profit (loss) carried forward -€710
down €710 (-20.4%), from -€3,487 to -€4,197
- Other debts +€638
up €638 (+21.1%), from €3,027 to €3,665
- Depreciation -€539
down €539 (-78.4%), from €688 to €149
- Gross operating margin +€341
up €341 (+42.3%), from -€807 to -€465
- Financial charges +€84
up €84 (+668.0%), from €13 to €96
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 | €540 | €468 | -€72 | -13.3% |
| Fixed assets | 21/28 | €149 | - | -€149 | |
| Tangible fixed assets | 22/27 | €149 | - | -€149 | |
| Plant, machinery and equipment | 23 | €149 | - | -€149 | |
| Current assets | 29/58 | €391 | €468 | +€77 | +19.7% |
| Amounts receivable within one year | 40/41 | €363 | €363 | = | 0.0% |
| Trade receivables | 40 | €363 | €363 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28 | €105 | +€77 | +273.4% |
| Total equity and liabilities | 10/49 | €540 | €468 | -€72 | -13.3% |
| Equity | 10/15 | -€2,487 | -€3,197 | -€710 | -28.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,487 | -€4,197 | -€710 | -20.4% |
| Amounts payable | 17/49 | €3,027 | €3,665 | +€638 | +21.1% |
| Amounts payable within one year | 42/48 | €3,027 | €3,665 | +€638 | +21.1% |
| Other amounts payable | 47/48 | €3,027 | €3,665 | +€638 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €688 | €149 | -€539 | -78.4% |
| Gross operating margin | 9900 | -€807 | -€465 | +€341 | +42.3% |
| Operating profit (loss) | 9901 | -€1,494 | -€614 | +€880 | +58.9% |
| Financial charges | 65/66B | €13 | €96 | +€84 | +668.0% |
| Recurring financial charges | 65 | €13 | €96 | +€84 | +668.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,507 | -€710 | +€796 | +52.9% |
| Profit (loss) for the period | 9904 | -€1,507 | -€710 | +€796 | +52.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,507 | -€710 | +€796 | +52.9% |
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 29 September 2026 via checked.be.