sTuDio 44: 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.
sTuDio 44
Largest movements
- Tangible fixed assets -€6,431
down €6,431 (-5.8%), from €111,515 to €105,084
of which Land and buildings: -€9,216
- Receivables within one year -€2,079
down €2,079 (-6.2%), from €33,489 to €31,410
of which Trade receivables: -€2,273
- Debts after one year -€18,227
down €18,227 (-28.8%), from €63,381 to €45,154
- Other debts +€16,113
up €16,113 (+252.5%), from €6,381 to €22,494
- Trade debts -€3,874
down €3,874 (-31.2%), from €12,426 to €8,552
- Short-term financial debts -€3,502
down €3,502 (-93.9%), from €3,728 to €227
- Gross operating margin -€14,876
down €14,876 (-51.0%), from €29,172 to €14,295
- Financial charges -€764
down €764 (-22.8%), from €3,343 to €2,579
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €152,224 | €143,724 | -€8,499 | -5.6% |
| Fixed assets | 21/28 | €118,735 | €112,304 | -€6,431 | -5.4% |
| Tangible fixed assets | 22/27 | €111,515 | €105,084 | -€6,431 | -5.8% |
| Land and buildings | 22 | €111,347 | €102,132 | -€9,216 | -8.3% |
| Plant, machinery and equipment | 23 | €168 | €2,953 | +€2,785 | +1661.1% |
| Financial fixed assets | 28 | €7,220 | €7,220 | = | 0.0% |
| Current assets | 29/58 | €33,489 | €31,420 | -€2,069 | -6.2% |
| Stocks and contracts in progress | 3 | - | €10 | +€10 | |
| Stocks | 30/36 | - | €10 | +€10 | |
| Amounts receivable within one year | 40/41 | €33,489 | €31,410 | -€2,079 | -6.2% |
| Trade receivables | 40 | €30,009 | €27,736 | -€2,273 | -7.6% |
| Other amounts receivable | 41 | €3,479 | €3,673 | +€194 | +5.6% |
| Total equity and liabilities | 10/49 | €152,224 | €143,724 | -€8,499 | -5.6% |
| Equity | 10/15 | €37,399 | €38,350 | +€951 | +2.5% |
| Contributions | 10/11 | €42,266 | €42,266 | = | 0.0% |
| Reserves | 13 | €144,046 | €144,046 | = | 0.0% |
| Distributable reserves | 133 | €144,046 | €144,046 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,913 | -€147,961 | +€951 | +0.6% |
| Amounts payable | 17/49 | €114,824 | €105,374 | -€9,450 | -8.2% |
| Amounts payable after more than one year | 17 | €63,381 | €45,154 | -€18,227 | -28.8% |
| Financial debts | 170/4 | €63,381 | €45,154 | -€18,227 | -28.8% |
| Amounts payable within one year | 42/48 | €51,444 | €60,220 | +€8,776 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €26,329 | €26,591 | +€262 | +1.0% |
| Financial debts | 43 | €3,728 | €227 | -€3,502 | -93.9% |
| Credit institutions | 430/8 | €3,728 | €227 | -€3,502 | -93.9% |
| Trade debts | 44 | €12,426 | €8,552 | -€3,874 | -31.2% |
| Suppliers | 440/4 | €12,426 | €8,552 | -€3,874 | -31.2% |
| Taxes, remuneration and social security | 45 | €2,579 | €2,356 | -€223 | -8.6% |
| Taxes | 450/3 | €2,579 | €2,356 | -€223 | -8.6% |
| Other amounts payable | 47/48 | €6,381 | €22,494 | +€16,113 | +252.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,453 | €9,648 | +€195 | +2.1% |
| Other operating charges | 640/8 | €1,247 | €1,043 | -€204 | -16.3% |
| Gross operating margin | 9900 | €29,172 | €14,295 | -€14,876 | -51.0% |
| Operating profit (loss) | 9901 | €18,472 | €3,605 | -€14,867 | -80.5% |
| Financial income | 75/76B | €205 | €330 | +€125 | +61.1% |
| Recurring financial income | 75 | €205 | €330 | +€125 | +61.1% |
| Financial charges | 65/66B | €3,343 | €2,579 | -€764 | -22.8% |
| Recurring financial charges | 65 | €3,343 | €2,579 | -€764 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €15,334 | €1,355 | -€13,979 | -91.2% |
| Income taxes | 67/77 | €390 | €404 | +€14 | +3.5% |
| Profit (loss) for the period | 9904 | €14,943 | €951 | -€13,992 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,943 | €951 | -€13,992 | -93.6% |
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 29 September 2026 via checked.be.