Studio 20: 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.
Studio 20
Largest movements
- Receivables within one year +€12,661
up €12,661 (+96.3%), from €13,153 to €25,814
of which Trade receivables: +€13,499
- Tangible fixed assets -€9,593
down €9,593 (-23.6%), from €40,710 to €31,118
of which Plant, machinery and equipment: -€5,228
- Cash +€4,124
up €4,124 (+5.5%), from €74,401 to €78,524
mainly Depreciation (+€10,809) and Other debts (+€9,369)
- Stocks and contracts +€3,499
up €3,499 (+94.8%), from €3,692 to €7,192
- Other debts +€9,369
up €9,369 (+100.9%), from €9,283 to €18,652
- Reserves -€5,595
down €5,595 (-5.2%), from €107,802 to €102,208
- Advances received +€3,879
new in 2025: €3,879
- Tax, wage and social debts +€3,845
up €3,845 (+77.7%), from €4,947 to €8,791
of which Taxes: +€4,745
- Gross operating margin -€7,613
down €7,613 (-51.6%), from €14,756 to €7,143
- Depreciation -€1,021
down €1,021 (-8.6%), from €11,830 to €10,809
- Taxes -€904
down €904 (-87.4%), from €1,035 to €131
- Financial charges -€252
down €252 (-15.5%), from €1,625 to €1,373
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 | €135,013 | €145,943 | +€10,930 | +8.1% |
| Fixed assets | 21/28 | €40,710 | €31,118 | -€9,593 | -23.6% |
| Tangible fixed assets | 22/27 | €40,710 | €31,118 | -€9,593 | -23.6% |
| Plant, machinery and equipment | 23 | €12,620 | €7,393 | -€5,228 | -41.4% |
| Furniture and vehicles | 24 | €1,683 | €987 | -€696 | -41.4% |
| Other tangible fixed assets | 26 | €26,407 | €22,738 | -€3,669 | -13.9% |
| Current assets | 29/58 | €94,303 | €114,825 | +€20,522 | +21.8% |
| Stocks and contracts in progress | 3 | €3,692 | €7,192 | +€3,499 | +94.8% |
| Stocks | 30/36 | €3,692 | €7,192 | +€3,499 | +94.8% |
| Amounts receivable within one year | 40/41 | €13,153 | €25,814 | +€12,661 | +96.3% |
| Trade receivables | 40 | €9,446 | €22,945 | +€13,499 | +142.9% |
| Other amounts receivable | 41 | €3,708 | €2,869 | -€839 | -22.6% |
| Cash at bank and in hand | 54/58 | €74,401 | €78,524 | +€4,124 | +5.5% |
| Deferred charges and accrued income | 490/1 | €3,056 | €3,295 | +€239 | +7.8% |
| Total equity and liabilities | 10/49 | €135,013 | €145,943 | +€10,930 | +8.1% |
| Equity | 10/15 | €117,802 | €112,208 | -€5,595 | -4.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €107,802 | €102,208 | -€5,595 | -5.2% |
| Distributable reserves | 133 | €107,802 | €102,208 | -€5,595 | -5.2% |
| Amounts payable | 17/49 | €17,211 | €33,735 | +€16,524 | +96.0% |
| Amounts payable within one year | 42/48 | €17,211 | €33,735 | +€16,524 | +96.0% |
| Trade debts | 44 | €2,981 | €2,413 | -€569 | -19.1% |
| Suppliers | 440/4 | €2,981 | €2,413 | -€569 | -19.1% |
| Advances received on contracts in progress | 46 | - | €3,879 | +€3,879 | |
| Taxes, remuneration and social security | 45 | €4,947 | €8,791 | +€3,845 | +77.7% |
| Taxes | 450/3 | - | €4,745 | +€4,745 | |
| Remuneration and social security | 454/9 | €4,947 | €4,046 | -€900 | -18.2% |
| Other amounts payable | 47/48 | €9,283 | €18,652 | +€9,369 | +100.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,830 | €10,809 | -€1,021 | -8.6% |
| Other operating charges | 640/8 | €600 | €480 | -€120 | -20.1% |
| Gross operating margin | 9900 | €14,756 | €7,143 | -€7,613 | -51.6% |
| Operating profit (loss) | 9901 | €2,326 | -€4,146 | -€6,472 | |
| Financial income | 75/76B | - | €55 | +€55 | |
| Recurring financial income | 75 | - | €55 | +€55 | |
| Financial charges | 65/66B | €1,625 | €1,373 | -€252 | -15.5% |
| Recurring financial charges | 65 | €1,625 | €1,373 | -€252 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €701 | -€5,464 | -€6,165 | |
| Income taxes | 67/77 | €1,035 | €131 | -€904 | -87.4% |
| Profit (loss) for the period | 9904 | -€333 | -€5,595 | -€5,261 | -1577.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€333 | -€5,595 | -€5,261 | -1577.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.