Studio 87: 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 87
Largest movements
- Cash +€88,186
up €88,186 (+28.0%), from €315,084 to €403,269
mainly Net result for the year (+€156,582) and Receivables within one year (+€42,104)
- Receivables within one year -€42,104
down €42,104 (-45.3%), from €92,989 to €50,885
of which Trade receivables: -€32,303
- Reserves +€156,582
up €156,582 (+58.3%), from €268,636 to €425,218
- Trade debts -€107,442
down €107,442 (-100.0%), from €107,442 to €0
- Gross operating margin -€18,586
down €18,586 (-8.2%), from €225,787 to €207,201
- Taxes -€4,662
down €4,662 (-9.2%), from €50,487 to €45,826
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 | €430,466 | €477,702 | +€47,236 | +11.0% |
| Fixed assets | 21/28 | €18,531 | €20,543 | +€2,011 | +10.9% |
| Tangible fixed assets | 22/27 | €18,031 | €20,043 | +€2,011 | +11.2% |
| Plant, machinery and equipment | 23 | €16,567 | €11,772 | -€4,795 | -28.9% |
| Furniture and vehicles | 24 | €1,464 | €8,270 | +€6,806 | +464.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €411,934 | €457,159 | +€45,225 | +11.0% |
| Stocks and contracts in progress | 3 | €3,862 | €2,151 | -€1,711 | -44.3% |
| Stocks | 30/36 | €3,862 | €2,151 | -€1,711 | -44.3% |
| Amounts receivable within one year | 40/41 | €92,989 | €50,885 | -€42,104 | -45.3% |
| Trade receivables | 40 | €41,741 | €9,439 | -€32,303 | -77.4% |
| Other amounts receivable | 41 | €51,248 | €41,447 | -€9,801 | -19.1% |
| Cash at bank and in hand | 54/58 | €315,084 | €403,269 | +€88,186 | +28.0% |
| Deferred charges and accrued income | 490/1 | €0 | €854 | +€854 | |
| Total equity and liabilities | 10/49 | €430,466 | €477,702 | +€47,236 | +11.0% |
| Equity | 10/15 | €271,636 | €428,218 | +€156,582 | +57.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €268,636 | €425,218 | +€156,582 | +58.3% |
| Distributable reserves | 133 | €268,636 | €425,218 | +€156,582 | +58.3% |
| Amounts payable | 17/49 | €158,830 | €49,484 | -€109,346 | -68.8% |
| Amounts payable within one year | 42/48 | €158,830 | €49,484 | -€109,346 | -68.8% |
| Trade debts | 44 | €107,442 | €0 | -€107,442 | -100.0% |
| Suppliers | 440/4 | €107,442 | €0 | -€107,442 | -100.0% |
| Taxes, remuneration and social security | 45 | €51,387 | €46,726 | -€4,662 | -9.1% |
| Taxes | 450/3 | €51,387 | €46,726 | -€4,662 | -9.1% |
| Other amounts payable | 47/48 | - | €2,759 | +€2,759 | |
| Non-recurring operating income | 76A | €59 | €0 | -€59 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,093 | €5,974 | +€881 | +17.3% |
| Other operating charges | 640/8 | €231 | €144 | -€87 | -37.6% |
| Gross operating margin | 9900 | €225,787 | €207,201 | -€18,586 | -8.2% |
| Operating profit (loss) | 9901 | €220,463 | €201,083 | -€19,380 | -8.8% |
| Financial income | 75/76B | €819 | €1,656 | +€837 | +102.2% |
| Recurring financial income | 75 | €819 | €1,656 | +€837 | +102.2% |
| Financial charges | 65/66B | €549 | €331 | -€218 | -39.8% |
| Recurring financial charges | 65 | €549 | €331 | -€218 | -39.8% |
| Profit (loss) for the period before taxes | 9903 | €220,733 | €202,408 | -€18,326 | -8.3% |
| Income taxes | 67/77 | €50,487 | €45,826 | -€4,662 | -9.2% |
| Profit (loss) for the period | 9904 | €170,246 | €156,582 | -€13,664 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €170,246 | €156,582 | -€13,664 | -8.0% |
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 4 October 2026 via checked.be.