STUDIO BOILER: 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 BOILER
Largest movements
- Receivables within one year -€103,762
down €103,762 (-62.0%), from €167,371 to €63,609
of which Other amounts receivable: -€88,671
- Current investments +€65,543
up €65,543 (+139.5%), from €47,000 to €112,543
- Cash -€28,396
down €28,396 (-56.9%), from €49,907 to €21,511
mainly Tax, wage and social debts (-€102,892) and Current investments (-€65,543)
- Intangible fixed assets -€15,250
down €15,250 (-70.6%), from €21,604 to €6,354
- Tangible fixed assets -€13,805
down €13,805 (-6.0%), from €229,561 to €215,756
of which Land and buildings: -€8,718
- Tax, wage and social debts -€102,892
down €102,892 (-74.7%), from €137,714 to €34,822
of which Taxes: -€109,093
- Reserves +€19,373
up €19,373 (+16.9%), from €114,872 to €134,244
- Debts after one year -€11,523
down €11,523 (-5.7%), from €203,131 to €191,608
- Gross operating margin +€13,860
up €13,860 (+7.6%), from €182,066 to €195,926
- Taxes +€3,994
up €3,994 (+39.8%), from €10,044 to €14,037
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 | €530,054 | €445,484 | -€84,570 | -16.0% |
| Fixed assets | 21/28 | €251,165 | €222,110 | -€29,055 | -11.6% |
| Intangible fixed assets | 21 | €21,604 | €6,354 | -€15,250 | -70.6% |
| Tangible fixed assets | 22/27 | €229,561 | €215,756 | -€13,805 | -6.0% |
| Land and buildings | 22 | €203,273 | €194,555 | -€8,718 | -4.3% |
| Plant, machinery and equipment | 23 | €13,942 | €12,105 | -€1,837 | -13.2% |
| Furniture and vehicles | 24 | €12,345 | €9,095 | -€3,251 | -26.3% |
| Current assets | 29/58 | €278,889 | €223,374 | -€55,516 | -19.9% |
| Amounts receivable within one year | 40/41 | €167,371 | €63,609 | -€103,762 | -62.0% |
| Trade receivables | 40 | €66,738 | €51,647 | -€15,091 | -22.6% |
| Other amounts receivable | 41 | €100,634 | €11,963 | -€88,671 | -88.1% |
| Current investments | 50/53 | €47,000 | €112,543 | +€65,543 | +139.5% |
| Cash at bank and in hand | 54/58 | €49,907 | €21,511 | -€28,396 | -56.9% |
| Deferred charges and accrued income | 490/1 | €14,611 | €25,710 | +€11,099 | +76.0% |
| Total equity and liabilities | 10/49 | €530,054 | €445,484 | -€84,570 | -16.0% |
| Equity | 10/15 | €133,472 | €152,844 | +€19,373 | +14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €114,872 | €134,244 | +€19,373 | +16.9% |
| Distributable reserves | 133 | €114,872 | €134,244 | +€19,373 | +16.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €396,582 | €292,639 | -€103,943 | -26.2% |
| Amounts payable after more than one year | 17 | €203,131 | €191,608 | -€11,523 | -5.7% |
| Financial debts | 170/4 | €203,131 | €191,608 | -€11,523 | -5.7% |
| Amounts payable within one year | 42/48 | €188,102 | €93,341 | -€94,761 | -50.4% |
| Current portion of amounts payable after more than one year | 42 | €14,468 | €11,523 | -€2,945 | -20.4% |
| Financial debts | 43 | €50 | €1,590 | +€1,540 | +3079.3% |
| Credit institutions | 430/8 | €50 | - | -€50 | |
| Other loans | 439 | - | €1,590 | +€1,590 | |
| Trade debts | 44 | €18,841 | €23,547 | +€4,706 | +25.0% |
| Suppliers | 440/4 | €18,841 | €23,547 | +€4,706 | +25.0% |
| Taxes, remuneration and social security | 45 | €137,714 | €34,822 | -€102,892 | -74.7% |
| Taxes | 450/3 | €116,083 | €6,991 | -€109,093 | -94.0% |
| Remuneration and social security | 454/9 | €21,631 | €27,832 | +€6,200 | +28.7% |
| Other amounts payable | 47/48 | €17,029 | €21,859 | +€4,830 | +28.4% |
| Accrued charges and deferred income | 492/3 | €5,349 | €7,691 | +€2,341 | +43.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €104,047 | €102,514 | -€1,533 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,607 | €30,995 | +€388 | +1.3% |
| Other operating charges | 640/8 | €4,222 | €3,999 | -€223 | -5.3% |
| Gross operating margin | 9900 | €182,066 | €195,926 | +€13,860 | +7.6% |
| Operating profit (loss) | 9901 | €43,191 | €58,418 | +€15,228 | +35.3% |
| Financial income | 75/76B | €59 | €177 | +€119 | +202.0% |
| Recurring financial income | 75 | €59 | €177 | +€119 | +202.0% |
| Financial charges | 65/66B | €11,457 | €11,068 | -€389 | -3.4% |
| Recurring financial charges | 65 | €11,457 | €11,068 | -€389 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €31,792 | €47,528 | +€15,735 | +49.5% |
| Income taxes | 67/77 | €10,044 | €14,037 | +€3,994 | +39.8% |
| Profit (loss) for the period | 9904 | €21,749 | €33,490 | +€11,742 | +54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,749 | €33,490 | +€11,742 | +54.0% |
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.