MAZHAR 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.
MAZHAR STUDIO
Largest movements
- Receivables within one year -€12,154
down €12,154 (-74.8%), from €16,254 to €4,100
of which Other amounts receivable: -€12,049
- Cash -€8,603
down €8,603 (-89.7%), from €9,588 to €985
mainly Net result for the year (-€14,429) and Tax, wage and social debts (-€2,589)
- Financial fixed assets +€677
new in 2025: €677
- Tangible fixed assets -€446
down €446 (-22.1%), from €2,023 to €1,577
- Profit (loss) carried forward -€14,429
down €14,429 (-93.2%), from €15,481 to €1,053
- Tax, wage and social debts -€2,589
down €2,589 (-100%), from €2,589 to €0
- Trade debts -€1,895
down €1,895 (-59.5%), from €3,187 to €1,292
- Other debts -€1,586
down €1,586 (-39.6%), from €4,006 to €2,421
- Accrued charges and deferred income -€293
down €293 (-86.6%), from €339 to €45
- Gross operating margin -€35,427
down €35,427, from €21,685 to -€13,741
- Taxes -€5,734
down €5,734 (-100%), from €5,734 to €0
- Depreciation +€238
up €238 (+114%), from €208 to €446
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 | €28,603 | €7,811 | -€20,792 | -72.7% |
| Fixed assets | 21/28 | €2,023 | €2,254 | +€231 | +11.4% |
| Tangible fixed assets | 22/27 | €2,023 | €1,577 | -€446 | -22.1% |
| Furniture and vehicles | 24 | €2,023 | €1,577 | -€446 | -22.1% |
| Financial fixed assets | 28 | - | €677 | +€677 | |
| Current assets | 29/58 | €26,580 | €5,557 | -€21,022 | -79.1% |
| Amounts receivable within one year | 40/41 | €16,254 | €4,100 | -€12,154 | -74.8% |
| Trade receivables | 40 | €2,614 | €2,509 | -€106 | -4.0% |
| Other amounts receivable | 41 | €13,640 | €1,591 | -€12,049 | -88.3% |
| Cash at bank and in hand | 54/58 | €9,588 | €985 | -€8,603 | -89.7% |
| Deferred charges and accrued income | 490/1 | €737 | €472 | -€265 | -36.0% |
| Total equity and liabilities | 10/49 | €28,603 | €7,811 | -€20,792 | -72.7% |
| Equity | 10/15 | €18,481 | €4,053 | -€14,429 | -78.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,481 | €1,053 | -€14,429 | -93.2% |
| Amounts payable | 17/49 | €10,121 | €3,758 | -€6,363 | -62.9% |
| Amounts payable within one year | 42/48 | €9,783 | €3,713 | -€6,070 | -62.0% |
| Trade debts | 44 | €3,187 | €1,292 | -€1,895 | -59.5% |
| Suppliers | 440/4 | €3,187 | €1,292 | -€1,895 | -59.5% |
| Taxes, remuneration and social security | 45 | €2,589 | €0 | -€2,589 | -100% |
| Taxes | 450/3 | €2,589 | €0 | -€2,589 | -100% |
| Other amounts payable | 47/48 | €4,006 | €2,421 | -€1,586 | -39.6% |
| Accrued charges and deferred income | 492/3 | €339 | €45 | -€293 | -86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208 | €446 | +€238 | +114% |
| Other operating charges | 640/8 | €11 | €0 | -€11 | -100% |
| Gross operating margin | 9900 | €21,685 | -€13,741 | -€35,427 | |
| Operating profit (loss) | 9901 | €21,466 | -€14,188 | -€35,653 | |
| Financial income | 75/76B | €22 | €9 | -€13 | -58.0% |
| Recurring financial income | 75 | €22 | €9 | -€13 | -58.0% |
| Financial charges | 65/66B | €272 | €250 | -€22 | -8.2% |
| Recurring financial charges | 65 | €272 | €250 | -€22 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €21,215 | -€14,429 | -€35,644 | |
| Income taxes | 67/77 | €5,734 | €0 | -€5,734 | -100% |
| Profit (loss) for the period | 9904 | €15,481 | -€14,429 | -€29,910 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,481 | -€14,429 | -€29,910 |
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 13 October 2026 via checked.be.