Studio Duo: 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 Duo
Largest movements
- Cash -€103,841
down €103,841 (-36.0%), from €288,090 to €184,249
mainly Contributions, distributions and other (-€198,325) and Other debts (-€83,665)
- Receivables within one year +€6,903
up €6,903 (+34.2%), from €20,176 to €27,079
of which Other amounts receivable: +€6,533
- Tangible fixed assets -€3,699
down €3,699 (-24.9%), from €14,883 to €11,184
- Other debts -€83,665
down €83,665 (-29.7%), from €281,990 to €198,325
- Tax, wage and social debts -€10,618
down €10,618 (-69.5%), from €15,268 to €4,650
of which Taxes: -€8,618
- Reserves -€6,863
down €6,863 (-78.7%), from €8,723 to €1,860
of which Non-distributable reserves: -€8,723
- Gross operating margin -€127,186
down €127,186 (-33.0%), from €384,972 to €257,786
- Taxes -€29,974
down €29,974 (-33.8%), from €88,618 to €58,644
- Depreciation -€7,612
down €7,612 (-53.6%), from €14,191 to €6,580
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.
Derived cash bridge
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 | €325,154 | €224,562 | -€100,592 | -30.9% |
| Fixed assets | 21/28 | €14,983 | €11,284 | -€3,699 | -24.7% |
| Tangible fixed assets | 22/27 | €14,883 | €11,184 | -€3,699 | -24.9% |
| Land and buildings | 22 | €4,773 | €3,263 | -€1,510 | -31.6% |
| Plant, machinery and equipment | 23 | €1,976 | €855 | -€1,122 | -56.8% |
| Furniture and vehicles | 24 | €8,134 | €7,066 | -€1,067 | -13.1% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €310,171 | €213,278 | -€96,893 | -31.2% |
| Amounts receivable within one year | 40/41 | €20,176 | €27,079 | +€6,903 | +34.2% |
| Trade receivables | 40 | €17,938 | €18,309 | +€370 | +2.1% |
| Other amounts receivable | 41 | €2,238 | €8,771 | +€6,533 | +292% |
| Cash at bank and in hand | 54/58 | €288,090 | €184,249 | -€103,841 | -36.0% |
| Deferred charges and accrued income | 490/1 | €1,905 | €1,949 | +€45 | +2.3% |
| Total equity and liabilities | 10/49 | €325,154 | €224,562 | -€100,592 | -30.9% |
| Equity | 10/15 | €27,323 | €20,460 | -€6,863 | -25.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,723 | €1,860 | -€6,863 | -78.7% |
| Non-distributable reserves | 130/1 | €8,723 | €0 | -€8,723 | -100% |
| Reserves not available under the articles | 1311 | €8,723 | €0 | -€8,723 | -100% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €297,831 | €204,102 | -€93,729 | -31.5% |
| Amounts payable within one year | 42/48 | €297,361 | €204,102 | -€93,259 | -31.4% |
| Financial debts | 43 | €103 | €156 | +€53 | +51.5% |
| Credit institutions | 430/8 | €74 | €77 | +€3 | +4.1% |
| Other loans | 439 | €29 | €79 | +€50 | +172% |
| Trade debts | 44 | - | €970 | +€970 | |
| Suppliers | 440/4 | - | €970 | +€970 | |
| Taxes, remuneration and social security | 45 | €15,268 | €4,650 | -€10,618 | -69.5% |
| Taxes | 450/3 | €13,268 | €4,650 | -€8,618 | -65.0% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts payable | 47/48 | €281,990 | €198,325 | -€83,665 | -29.7% |
| Accrued charges and deferred income | 492/3 | €470 | €0 | -€470 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,191 | €6,580 | -€7,612 | -53.6% |
| Other operating charges | 640/8 | €896 | €1,056 | +€161 | +17.9% |
| Gross operating margin | 9900 | €384,972 | €257,786 | -€127,186 | -33.0% |
| Operating profit (loss) | 9901 | €369,885 | €250,150 | -€119,735 | -32.4% |
| Financial income | 75/76B | €97 | €137 | +€41 | +42.2% |
| Recurring financial income | 75 | €97 | €137 | +€41 | +42.2% |
| Financial charges | 65/66B | €288 | €182 | -€106 | -36.8% |
| Recurring financial charges | 65 | €288 | €182 | -€106 | -36.8% |
| Profit (loss) for the period before taxes | 9903 | €369,694 | €250,106 | -€119,588 | -32.3% |
| Income taxes | 67/77 | €88,618 | €58,644 | -€29,974 | -33.8% |
| Profit (loss) for the period | 9904 | €281,076 | €191,462 | -€89,614 | -31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €281,076 | €191,462 | -€89,614 | -31.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.