Make-over 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.
Make-over studio
Largest movements
- Cash -€26,561
down €26,561 (-81.6%), from €32,535 to €5,974
mainly Contributions, distributions and other (-€23,529) and Investment in fixed assets (net) (-€17,365)
- Tangible fixed assets +€12,607
up €12,607 (+106.5%), from €11,836 to €24,443
of which Other tangible fixed assets: +€14,647
- Receivables within one year +€2,925
up €2,925 (+810.7%), from €361 to €3,286
of which Other amounts receivable: +€3,286
- Stocks and contracts -€1,104
down €1,104 (-9.4%), from €11,741 to €10,637
- Reserves -€10,156
down €10,156 (-22.3%), from €45,522 to €35,366
- Tax, wage and social debts -€3,425
down €3,425 (-59.6%), from €5,748 to €2,323
- Other debts +€2,676
up €2,676 (+238.8%), from €1,121 to €3,797
- Current portion of long-term debt -€2,229
down €2,229 (-82.7%), from €2,695 to €466
- Advances received +€1,717
new in 2025: €1,717
- Gross operating margin -€9,956
down €9,956 (-28.2%), from €35,259 to €25,303
- Taxes -€2,839
down €2,839 (-40.8%), from €6,953 to €4,114
- Depreciation -€1,060
down €1,060 (-18.1%), from €5,867 to €4,808
- Other operating charges -€459
down €459 (-15.8%), from €2,911 to €2,452
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 | €57,186 | €45,255 | -€11,931 | -20.9% |
| Fixed assets | 21/28 | €11,886 | €24,443 | +€12,557 | +105.6% |
| Intangible fixed assets | 21 | €50 | €0 | -€50 | -100.0% |
| Tangible fixed assets | 22/27 | €11,836 | €24,443 | +€12,607 | +106.5% |
| Plant, machinery and equipment | 23 | €7,800 | €5,375 | -€2,425 | -31.1% |
| Furniture and vehicles | 24 | €2,500 | €2,885 | +€385 | +15.4% |
| Other tangible fixed assets | 26 | €1,536 | €16,183 | +€14,647 | +953.8% |
| Current assets | 29/58 | €45,300 | €20,812 | -€24,488 | -54.1% |
| Stocks and contracts in progress | 3 | €11,741 | €10,637 | -€1,104 | -9.4% |
| Stocks | 30/36 | €11,741 | €10,637 | -€1,104 | -9.4% |
| Amounts receivable within one year | 40/41 | €361 | €3,286 | +€2,925 | +810.7% |
| Trade receivables | 40 | €361 | €0 | -€361 | -100.0% |
| Other amounts receivable | 41 | - | €3,286 | +€3,286 | |
| Cash at bank and in hand | 54/58 | €32,535 | €5,974 | -€26,561 | -81.6% |
| Deferred charges and accrued income | 490/1 | €663 | €915 | +€252 | +38.0% |
| Total equity and liabilities | 10/49 | €57,186 | €45,255 | -€11,931 | -20.9% |
| Equity | 10/15 | €46,522 | €36,366 | -€10,156 | -21.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €45,522 | €35,366 | -€10,156 | -22.3% |
| Distributable reserves | 133 | €45,522 | €35,366 | -€10,156 | -22.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €10,664 | €8,890 | -€1,775 | -16.6% |
| Amounts payable after more than one year | 17 | €466 | €0 | -€466 | -100.0% |
| Financial debts | 170/4 | €466 | €0 | -€466 | -100.0% |
| Amounts payable within one year | 42/48 | €10,199 | €8,890 | -€1,309 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €2,695 | €466 | -€2,229 | -82.7% |
| Trade debts | 44 | €635 | €587 | -€48 | -7.5% |
| Suppliers | 440/4 | €635 | €587 | -€48 | -7.5% |
| Advances received on contracts in progress | 46 | - | €1,717 | +€1,717 | |
| Taxes, remuneration and social security | 45 | €5,748 | €2,323 | -€3,425 | -59.6% |
| Taxes | 450/3 | €5,748 | €2,323 | -€3,425 | -59.6% |
| Other amounts payable | 47/48 | €1,121 | €3,797 | +€2,676 | +238.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,867 | €4,808 | -€1,060 | -18.1% |
| Other operating charges | 640/8 | €2,911 | €2,452 | -€459 | -15.8% |
| Gross operating margin | 9900 | €35,259 | €25,303 | -€9,956 | -28.2% |
| Operating profit (loss) | 9901 | €26,480 | €18,043 | -€8,437 | -31.9% |
| Financial income | 75/76B | €82 | €0 | -€82 | -100.0% |
| Recurring financial income | 75 | €82 | €0 | -€82 | -100.0% |
| Financial charges | 65/66B | €521 | €556 | +€35 | +6.7% |
| Recurring financial charges | 65 | €521 | €556 | +€35 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €26,041 | €17,487 | -€8,553 | -32.8% |
| Income taxes | 67/77 | €6,953 | €4,114 | -€2,839 | -40.8% |
| Profit (loss) for the period | 9904 | €19,088 | €13,373 | -€5,715 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,088 | €13,373 | -€5,715 | -29.9% |
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 6 October 2026 via checked.be.