SF 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.
SF STUDIO
Largest movements
- Cash -€8,054
down €8,054 (-90.2%), from €8,926 to €872
mainly Net result for the year (-€9,664) and Deferred charges and accrued income (-€1,179)
- Receivables within one year -€1,825
down €1,825 (-89.1%), from €2,049 to €224
of which Other amounts receivable: -€1,331
- Deferred charges and accrued income +€1,179
new in 2025: €1,179
- Profit (loss) carried forward -€9,664
down €9,664 (-227.9%), from -€4,241 to -€13,905
- Trade debts +€963
up €963 (+447.1%), from €215 to €1,179
- Depreciation -€864
no longer reported in 2025 (was €864)
- Gross operating margin -€462
down €462 (-5.4%), from -€8,477 to -€8,939
- Staff costs -€394
no longer reported in 2025 (was €394)
- Other operating charges -€353
down €353 (-36.9%), from €956 to €603
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 | €10,975 | €2,274 | -€8,701 | -79.3% |
| Current assets | 29/58 | €10,975 | €2,274 | -€8,701 | -79.3% |
| Amounts receivable within one year | 40/41 | €2,049 | €224 | -€1,825 | -89.1% |
| Trade receivables | 40 | €495 | - | -€495 | |
| Other amounts receivable | 41 | €1,554 | €224 | -€1,331 | -85.6% |
| Cash at bank and in hand | 54/58 | €8,926 | €872 | -€8,054 | -90.2% |
| Deferred charges and accrued income | 490/1 | - | €1,179 | +€1,179 | |
| Total equity and liabilities | 10/49 | €10,975 | €2,274 | -€8,701 | -79.3% |
| Equity | 10/15 | €10,759 | €1,095 | -€9,664 | -89.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,241 | -€13,905 | -€9,664 | -227.9% |
| Amounts payable | 17/49 | €215 | €1,179 | +€963 | +447.1% |
| Amounts payable within one year | 42/48 | €215 | €1,179 | +€963 | +447.1% |
| Trade debts | 44 | €215 | €1,179 | +€963 | +447.1% |
| Suppliers | 440/4 | €215 | €1,179 | +€963 | +447.1% |
| Taxes | 450/3 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €394 | - | -€394 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €864 | - | -€864 | |
| Other operating charges | 640/8 | €956 | €603 | -€353 | -36.9% |
| Gross operating margin | 9900 | -€8,477 | -€8,939 | -€462 | -5.4% |
| Operating profit (loss) | 9901 | -€10,691 | -€9,542 | +€1,149 | +10.7% |
| Financial charges | 65/66B | €128 | €122 | -€6 | -4.4% |
| Recurring financial charges | 65 | €128 | €122 | -€6 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,819 | -€9,664 | +€1,155 | +10.7% |
| Profit (loss) for the period | 9904 | -€10,819 | -€9,664 | +€1,155 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,819 | -€9,664 | +€1,155 | +10.7% |
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 9 October 2026 via checked.be.