Head First Studios: 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.
Head First Studios
Largest movements
- Receivables within one year -€8,778
down €8,778 (-96.3%), from €9,115 to €337
of which Trade receivables: -€5,221
- Cash -€1,622
down €1,622 (-85.1%), from €1,905 to €283
mainly Net result for the year (-€19,034) and Accrued charges and deferred income (-€8,901)
- Tangible fixed assets -€1,036
no longer reported in 2025 (was €1,036)
- Profit (loss) carried forward -€19,034
down €19,034 (-147%), from -€12,919 to -€31,953
- Other debts +€12,125
up €12,125 (+55,214%), from €22 to €12,147
- Accrued charges and deferred income -€8,901
no longer reported in 2025 (was €8,901)
- Trade debts +€4,952
up €4,952 (+1,044%), from €474 to €5,426
- Tax, wage and social debts -€3,078
no longer reported in 2025 (was €3,078)
of which Taxes: -€1,889
- Gross operating margin -€13,880
down €13,880 (-3,412%), from -€407 to -€14,287
- Other operating charges -€5,658
down €5,658 (-93.4%), from €6,057 to €400
- Depreciation -€1,324
no longer reported in 2025 (was €1,324)
- Financial charges -€616
down €616 (-66.1%), from €932 to €316
- Financial income -€289
down €289 (-98.3%), from €294 to €5
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.
Derived cash bridge
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 | €12,056 | €620 | -€11,436 | -94.9% |
| Fixed assets | 21/28 | €1,036 | - | -€1,036 | |
| Tangible fixed assets | 22/27 | €1,036 | - | -€1,036 | |
| Furniture and vehicles | 24 | €1,036 | - | -€1,036 | |
| Current assets | 29/58 | €11,020 | €620 | -€10,400 | -94.4% |
| Amounts receivable within one year | 40/41 | €9,115 | €337 | -€8,778 | -96.3% |
| Trade receivables | 40 | €5,221 | - | -€5,221 | |
| Other amounts receivable | 41 | €3,895 | €337 | -€3,558 | -91.3% |
| Cash at bank and in hand | 54/58 | €1,905 | €283 | -€1,622 | -85.1% |
| Total equity and liabilities | 10/49 | €12,056 | €620 | -€11,436 | -94.9% |
| Equity | 10/15 | -€419 | -€16,953 | -€16,534 | -3,943% |
| Contributions | 10/11 | €12,500 | €15,000 | +€2,500 | +20.0% |
| Profit (loss) carried forward | 14 | -€12,919 | -€31,953 | -€19,034 | -147% |
| Amounts payable | 17/49 | €12,476 | €17,573 | +€5,098 | +40.9% |
| Amounts payable within one year | 42/48 | €3,574 | €17,573 | +€13,999 | +392% |
| Trade debts | 44 | €474 | €5,426 | +€4,952 | +1,044% |
| Suppliers | 440/4 | €474 | €5,426 | +€4,952 | +1,044% |
| Taxes, remuneration and social security | 45 | €3,078 | - | -€3,078 | |
| Taxes | 450/3 | €1,889 | - | -€1,889 | |
| Remuneration and social security | 454/9 | €1,189 | - | -€1,189 | |
| Other amounts payable | 47/48 | €22 | €12,147 | +€12,125 | +55,214% |
| Accrued charges and deferred income | 492/3 | €8,901 | - | -€8,901 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,324 | - | -€1,324 | |
| Other operating charges | 640/8 | €6,057 | €400 | -€5,658 | -93.4% |
| Non-recurring operating charges | 66A | - | €4,036 | +€4,036 | |
| Gross operating margin | 9900 | -€407 | -€14,287 | -€13,880 | -3,412% |
| Operating profit (loss) | 9901 | -€7,788 | -€18,723 | -€10,935 | -140% |
| Financial income | 75/76B | €294 | €5 | -€289 | -98.3% |
| Recurring financial income | 75 | €294 | €5 | -€289 | -98.3% |
| Financial charges | 65/66B | €932 | €316 | -€616 | -66.1% |
| Recurring financial charges | 65 | €932 | €316 | -€616 | -66.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,426 | -€19,034 | -€10,608 | -126% |
| Profit (loss) for the period | 9904 | -€8,426 | -€19,034 | -€10,608 | -126% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,426 | -€19,034 | -€10,608 | -126% |
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 14 October 2026 via checked.be.