STUDIO CONSTRUCT: 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 CONSTRUCT
Largest movements
- Tangible fixed assets +€92,237
up €92,237 (+59.8%), from €154,211 to €246,448
of which Land and buildings: +€64,874
- Receivables within one year -€38,206
down €38,206 (-68.7%), from €55,580 to €17,374
of which Trade receivables: -€47,252
- Cash +€13,105
up €13,105 (+85.3%), from €15,362 to €28,466
mainly Debts after one year (+€79,872) and Receivables within one year (+€38,206)
- Deferred charges and accrued income -€8,612
down €8,612 (-84.6%), from €10,175 to €1,563
- Stocks and contracts +€4,173
up €4,173 (+35.5%), from €11,762 to €15,935
of which Contracts in progress: +€5,161
- Debts after one year +€79,872
up €79,872 (+217.2%), from €36,767 to €116,639
- Trade debts -€23,287
down €23,287 (-34.2%), from €68,087 to €44,799
- Other debts +€14,162
up €14,162 (+14.5%), from €97,973 to €112,135
- Tax, wage and social debts -€13,088
no longer reported in 2025 (was €13,088)
- Current portion of long-term debt +€4,668
new in 2025: €4,668
- Depreciation +€9,856
up €9,856 (+190.8%), from €5,165 to €15,021
- Gross operating margin +€3,095
up €3,095 (+17.4%), from €17,807 to €20,902
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 | €247,089 | €309,785 | +€62,697 | +25.4% |
| Fixed assets | 21/28 | €154,211 | €246,448 | +€92,237 | +59.8% |
| Tangible fixed assets | 22/27 | €154,211 | €246,448 | +€92,237 | +59.8% |
| Land and buildings | 22 | €152,588 | €217,462 | +€64,874 | +42.5% |
| Plant, machinery and equipment | 23 | €1,185 | €28,986 | +€27,801 | +2345.9% |
| Furniture and vehicles | 24 | €438 | - | -€438 | |
| Current assets | 29/58 | €92,878 | €63,337 | -€29,541 | -31.8% |
| Stocks and contracts in progress | 3 | €11,762 | €15,935 | +€4,173 | +35.5% |
| Stocks | 30/36 | €11,762 | €10,774 | -€988 | -8.4% |
| Contracts in progress | 37 | - | €5,161 | +€5,161 | |
| Amounts receivable within one year | 40/41 | €55,580 | €17,374 | -€38,206 | -68.7% |
| Trade receivables | 40 | €55,580 | €8,328 | -€47,252 | -85.0% |
| Other amounts receivable | 41 | - | €9,045 | +€9,045 | |
| Cash at bank and in hand | 54/58 | €15,362 | €28,466 | +€13,105 | +85.3% |
| Deferred charges and accrued income | 490/1 | €10,175 | €1,563 | -€8,612 | -84.6% |
| Total equity and liabilities | 10/49 | €247,089 | €309,785 | +€62,697 | +25.4% |
| Equity | 10/15 | €31,174 | €31,544 | +€370 | +1.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €26,174 | €26,544 | +€370 | +1.4% |
| Distributable reserves | 133 | €26,174 | €26,544 | +€370 | +1.4% |
| Amounts payable | 17/49 | €215,914 | €278,241 | +€62,327 | +28.9% |
| Amounts payable after more than one year | 17 | €36,767 | €116,639 | +€79,872 | +217.2% |
| Financial debts | 170/4 | €36,767 | €116,639 | +€79,872 | +217.2% |
| Amounts payable within one year | 42/48 | €179,147 | €161,602 | -€17,545 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | - | €4,668 | +€4,668 | |
| Trade debts | 44 | €68,087 | €44,799 | -€23,287 | -34.2% |
| Suppliers | 440/4 | €68,087 | €44,799 | -€23,287 | -34.2% |
| Taxes, remuneration and social security | 45 | €13,088 | - | -€13,088 | |
| Taxes | 450/3 | €13,088 | - | -€13,088 | |
| Other amounts payable | 47/48 | €97,973 | €112,135 | +€14,162 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,165 | €15,021 | +€9,856 | +190.8% |
| Other operating charges | 640/8 | €912 | €1,040 | +€129 | +14.1% |
| Non-recurring operating charges | 66A | €122 | - | -€122 | |
| Gross operating margin | 9900 | €17,807 | €20,902 | +€3,095 | +17.4% |
| Operating profit (loss) | 9901 | €11,609 | €4,841 | -€6,768 | -58.3% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.1% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.1% |
| Financial charges | 65/66B | €4,445 | €4,471 | +€26 | +0.6% |
| Recurring financial charges | 65 | €4,445 | €4,471 | +€26 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €7,165 | €370 | -€6,795 | -94.8% |
| Income taxes | 67/77 | -€204 | - | +€204 | |
| Profit (loss) for the period | 9904 | €7,369 | €370 | -€6,999 | -95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,369 | €370 | -€6,999 | -95.0% |
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 10 October 2026 via checked.be.