Studio DENN: 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 DENN
Largest movements
- Cash +€53,208
up €53,208 (+396.7%), from €13,412 to €66,620
mainly Net result for the year (+€96,835) and Depreciation (+€40,249)
- Reserves +€96,835
up €96,835 (+18.2%), from €533,106 to €629,941
of which Distributable reserves: +€96,835
- Debts after one year -€62,854
down €62,854 (-11.6%), from €541,365 to €478,511
- Tax, wage and social debts +€27,523
up €27,523 (+109.2%), from €25,202 to €52,726
- Gross operating margin +€42,265
up €42,265 (+27.2%), from €155,631 to €197,896
- Taxes +€16,416
up €16,416 (+66.9%), from €24,553 to €40,970
- Depreciation -€9,406
down €9,406 (-18.9%), from €49,655 to €40,249
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 | €1,314,012 | €1,372,913 | +€58,901 | +4.5% |
| Fixed assets | 21/28 | €1,223,324 | €1,224,766 | +€1,441 | +0.1% |
| Tangible fixed assets | 22/27 | €1,223,324 | €1,224,766 | +€1,441 | +0.1% |
| Land and buildings | 22 | €1,210,708 | €1,185,734 | -€24,974 | -2.1% |
| Plant, machinery and equipment | 23 | €11,707 | €5,682 | -€6,025 | -51.5% |
| Furniture and vehicles | 24 | €909 | €29,889 | +€28,981 | +3188.8% |
| Other tangible fixed assets | 26 | - | €3,460 | +€3,460 | |
| Current assets | 29/58 | €90,687 | €148,147 | +€57,460 | +63.4% |
| Amounts receivable within one year | 40/41 | €77,276 | €73,827 | -€3,448 | -4.5% |
| Trade receivables | 40 | €77,276 | €73,827 | -€3,448 | -4.5% |
| Cash at bank and in hand | 54/58 | €13,412 | €66,620 | +€53,208 | +396.7% |
| Deferred charges and accrued income | 490/1 | - | €7,700 | +€7,700 | |
| Total equity and liabilities | 10/49 | €1,314,012 | €1,372,913 | +€58,901 | +4.5% |
| Equity | 10/15 | €551,698 | €648,533 | +€96,835 | +17.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €533,106 | €629,941 | +€96,835 | +18.2% |
| Tax-exempt reserves | 132 | €13,161 | €13,161 | = | 0.0% |
| Distributable reserves | 133 | €519,945 | €616,779 | +€96,835 | +18.6% |
| Amounts payable | 17/49 | €762,314 | €724,380 | -€37,934 | -5.0% |
| Amounts payable after more than one year | 17 | €541,365 | €478,511 | -€62,854 | -11.6% |
| Financial debts | 170/4 | €541,365 | €478,511 | -€62,854 | -11.6% |
| Amounts payable within one year | 42/48 | €220,949 | €245,868 | +€24,920 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €61,621 | €62,854 | +€1,233 | +2.0% |
| Trade debts | 44 | €2,424 | €7,108 | +€4,684 | +193.2% |
| Suppliers | 440/4 | €2,424 | €7,108 | +€4,684 | +193.2% |
| Taxes, remuneration and social security | 45 | €25,202 | €52,726 | +€27,523 | +109.2% |
| Taxes | 450/3 | €25,202 | €52,726 | +€27,523 | +109.2% |
| Other amounts payable | 47/48 | €131,701 | €123,181 | -€8,520 | -6.5% |
| Non-recurring operating income | 76A | - | €496 | +€496 | |
| Remuneration, social security and pensions | 62 | €1,719 | €221 | -€1,499 | -87.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,655 | €40,249 | -€9,406 | -18.9% |
| Other operating charges | 640/8 | €4,900 | €5,268 | +€368 | +7.5% |
| Non-recurring operating charges | 66A | - | €2,452 | +€2,452 | |
| Gross operating margin | 9900 | €155,631 | €197,896 | +€42,265 | +27.2% |
| Operating profit (loss) | 9901 | €99,356 | €149,706 | +€50,350 | +50.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -84.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -84.6% |
| Financial charges | 65/66B | €13,233 | €11,902 | -€1,331 | -10.1% |
| Recurring financial charges | 65 | €13,233 | €11,902 | -€1,331 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €86,124 | €137,804 | +€51,681 | +60.0% |
| Income taxes | 67/77 | €24,553 | €40,970 | +€16,416 | +66.9% |
| Profit (loss) for the period | 9904 | €61,570 | €96,835 | +€35,264 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €61,570 | €96,835 | +€35,264 | +57.3% |
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 12 October 2026 via checked.be.