Red Penguin 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.
Red Penguin Studio
Largest movements
- Receivables within one year +€68,603
up €68,603 (+259%), from €26,505 to €95,109
of which Other amounts receivable: +€59,875
- Tangible fixed assets -€12,252
down €12,252 (-79.2%), from €15,466 to €3,215
- Cash -€5,283
down €5,283 (-9.6%), from €55,143 to €49,860
mainly Receivables within one year (-€68,603) and Tax, wage and social debts (-€3,093)
- Profit (loss) carried forward +€45,910
up €45,910 (+72.7%), from €63,138 to €109,047
- Debts after one year +€9,590
up €9,590 (+111%), from €8,652 to €18,243
- Tax, wage and social debts -€3,093
down €3,093 (-21.0%), from €14,754 to €11,661
- Depreciation -€8,244
down €8,244 (-84.7%), from €9,730 to €1,485
- Gross operating margin +€6,932
up €6,932 (+12.9%), from €53,835 to €60,767
- Taxes +€2,962
up €2,962 (+33.6%), from €8,818 to €11,780
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 | €97,277 | €148,183 | +€50,906 | +52.3% |
| Fixed assets | 21/28 | €15,466 | €3,215 | -€12,252 | -79.2% |
| Tangible fixed assets | 22/27 | €15,466 | €3,215 | -€12,252 | -79.2% |
| Furniture and vehicles | 24 | €15,466 | €3,215 | -€12,252 | -79.2% |
| Current assets | 29/58 | €81,811 | €144,968 | +€63,158 | +77.2% |
| Amounts receivable within one year | 40/41 | €26,505 | €95,109 | +€68,603 | +259% |
| Trade receivables | 40 | €12,901 | €21,629 | +€8,728 | +67.7% |
| Other amounts receivable | 41 | €13,605 | €73,480 | +€59,875 | +440% |
| Cash at bank and in hand | 54/58 | €55,143 | €49,860 | -€5,283 | -9.6% |
| Deferred charges and accrued income | 490/1 | €162 | - | -€162 | |
| Total equity and liabilities | 10/49 | €97,277 | €148,183 | +€50,906 | +52.3% |
| Equity | 10/15 | €66,138 | €112,047 | +€45,910 | +69.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,138 | €109,047 | +€45,910 | +72.7% |
| Amounts payable | 17/49 | €31,139 | €36,135 | +€4,996 | +16.0% |
| Amounts payable after more than one year | 17 | €8,652 | €18,243 | +€9,590 | +111% |
| Financial debts | 170/4 | €8,652 | €18,243 | +€9,590 | +111% |
| Amounts payable within one year | 42/48 | €22,487 | €17,893 | -€4,594 | -20.4% |
| Current portion of amounts payable after more than one year | 42 | €7,045 | €6,231 | -€813 | -11.5% |
| Trade debts | 44 | €688 | - | -€688 | |
| Suppliers | 440/4 | €688 | - | -€688 | |
| Taxes, remuneration and social security | 45 | €14,754 | €11,661 | -€3,093 | -21.0% |
| Taxes | 450/3 | €14,754 | €11,661 | -€3,093 | -21.0% |
| Non-recurring operating income | 76A | - | €8,736 | +€8,736 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,730 | €1,485 | -€8,244 | -84.7% |
| Other operating charges | 640/8 | €283 | €367 | +€84 | +29.8% |
| Gross operating margin | 9900 | €53,835 | €60,767 | +€6,932 | +12.9% |
| Operating profit (loss) | 9901 | €43,823 | €58,915 | +€15,092 | +34.4% |
| Financial income | 75/76B | €3 | €1 | -€2 | -74.6% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -74.6% |
| Financial charges | 65/66B | €1,102 | €1,226 | +€124 | +11.2% |
| Recurring financial charges | 65 | €1,102 | €1,226 | +€124 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €42,724 | €57,689 | +€14,966 | +35.0% |
| Income taxes | 67/77 | €8,818 | €11,780 | +€2,962 | +33.6% |
| Profit (loss) for the period | 9904 | €33,905 | €45,910 | +€12,004 | +35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,905 | €45,910 | +€12,004 | +35.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.