Studio Blau: 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 Blau
Largest movements
- Cash +€22,529
up €22,529 (+67.1%), from €33,599 to €56,129
mainly Net result for the year (+€31,400) and Depreciation (+€20,875)
- Tangible fixed assets -€19,288
down €19,288 (-30.4%), from €63,350 to €44,062
of which Plant, machinery and equipment: -€13,527
- Receivables within one year +€16,261
up €16,261 (+158.9%), from €10,234 to €26,495
of which Trade receivables: +€15,838
- Reserves +€32,212
up €32,212 (+146.9%), from €21,929 to €54,140
- Tax, wage and social debts +€12,194
up €12,194 (+74.4%), from €16,381 to €28,575
- Debts after one year -€11,866
down €11,866 (-28.0%), from €42,407 to €30,541
- Other debts -€10,606
no longer reported in 2025 (was €10,606)
- Trade debts -€2,833
down €2,833 (-87.4%), from €3,240 to €407
- Gross operating margin +€25,686
up €25,686 (+59.7%), from €42,989 to €68,675
- Depreciation +€11,078
up €11,078 (+113.1%), from €9,797 to €20,875
- Taxes +€3,803
up €3,803 (+45.5%), from €8,351 to €12,154
- Financial charges +€2,631
up €2,631 (+562.1%), from €468 to €3,099
- Other operating charges -€1,161
down €1,161 (-54.6%), from €2,127 to €965
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 | €108,894 | €128,925 | +€20,032 | +18.4% |
| Fixed assets | 21/28 | €65,061 | €45,415 | -€19,646 | -30.2% |
| Intangible fixed assets | 21 | €1,711 | €1,353 | -€358 | -20.9% |
| Tangible fixed assets | 22/27 | €63,350 | €44,062 | -€19,288 | -30.4% |
| Land and buildings | 22 | €5,693 | €4,553 | -€1,139 | -20.0% |
| Plant, machinery and equipment | 23 | €37,030 | €23,503 | -€13,527 | -36.5% |
| Furniture and vehicles | 24 | €20,628 | €16,006 | -€4,622 | -22.4% |
| Current assets | 29/58 | €43,833 | €83,511 | +€39,678 | +90.5% |
| Amounts receivable within one year | 40/41 | €10,234 | €26,495 | +€16,261 | +158.9% |
| Trade receivables | 40 | €7,471 | €23,308 | +€15,838 | +212.0% |
| Other amounts receivable | 41 | €2,763 | €3,187 | +€424 | +15.3% |
| Cash at bank and in hand | 54/58 | €33,599 | €56,129 | +€22,529 | +67.1% |
| Deferred charges and accrued income | 490/1 | - | €887 | +€887 | |
| Total equity and liabilities | 10/49 | €108,894 | €128,925 | +€20,032 | +18.4% |
| Equity | 10/15 | €24,929 | €57,140 | +€32,212 | +129.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €3,000 | +€3,000 | |
| Other | 1109/19 | - | €3,000 | +€3,000 | |
| Reserves | 13 | €21,929 | €54,140 | +€32,212 | +146.9% |
| Distributable reserves | 133 | €21,929 | €54,140 | +€32,212 | +146.9% |
| Amounts payable | 17/49 | €83,965 | €71,785 | -€12,180 | -14.5% |
| Amounts payable after more than one year | 17 | €42,407 | €30,541 | -€11,866 | -28.0% |
| Financial debts | 170/4 | €42,407 | €30,541 | -€11,866 | -28.0% |
| Amounts payable within one year | 42/48 | €41,558 | €41,245 | -€314 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €11,331 | €12,262 | +€931 | +8.2% |
| Trade debts | 44 | €3,240 | €407 | -€2,833 | -87.4% |
| Suppliers | 440/4 | €3,240 | €407 | -€2,833 | -87.4% |
| Taxes, remuneration and social security | 45 | €16,381 | €28,575 | +€12,194 | +74.4% |
| Taxes | 450/3 | €16,381 | €28,575 | +€12,194 | +74.4% |
| Other amounts payable | 47/48 | €10,606 | - | -€10,606 | |
| Remuneration, social security and pensions | 62 | €318 | €200 | -€118 | -37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,797 | €20,875 | +€11,078 | +113.1% |
| Other operating charges | 640/8 | €2,127 | €965 | -€1,161 | -54.6% |
| Gross operating margin | 9900 | €42,989 | €68,675 | +€25,686 | +59.7% |
| Operating profit (loss) | 9901 | €30,748 | €46,634 | +€15,886 | +51.7% |
| Financial income | 75/76B | - | €20 | +€20 | |
| Recurring financial income | 75 | - | €20 | +€20 | |
| Financial charges | 65/66B | €468 | €3,099 | +€2,631 | +562.1% |
| Recurring financial charges | 65 | €468 | €3,099 | +€2,631 | +562.1% |
| Profit (loss) for the period before taxes | 9903 | €30,280 | €43,555 | +€13,275 | +43.8% |
| Income taxes | 67/77 | €8,351 | €12,154 | +€3,803 | +45.5% |
| Profit (loss) for the period | 9904 | €21,929 | €31,400 | +€9,472 | +43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,929 | €31,400 | +€9,472 | +43.2% |
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.