studio elle: what changed
Two fiscal 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 elle
Largest movements
- Receivables within one year +€16,897
up €16,897 (+315.8%), from €5,351 to €22,248
of which Other amounts receivable: +€16,526
- Stocks and contracts -€10,312
down €10,312 (-25.4%), from €40,653 to €30,341
- Cash -€6,615
down €6,615 (-37.7%), from €17,541 to €10,926
mainly Receivables within one year (-€16,897) and Investment in fixed assets (net) (-€12,370)
- Reserves +€61,404
new in 2025: €61,404
- Profit (loss) carried forward -€45,360
no longer reported in 2025 (was €45,360)
- Debts after one year -€10,013
down €10,013 (-54.3%), from €18,432 to €8,420
- Trade debts -€3,648
down €3,648 (-30.1%), from €12,130 to €8,482
- Tax, wage and social debts -€2,767
down €2,767 (-34.0%), from €8,136 to €5,369
of which Taxes: -€2,604
- Gross operating margin -€26,590
down €26,590 (-36.3%), from €73,335 to €46,745
- Other operating charges +€9,585
up €9,585 (+529.9%), from €1,809 to €11,394
- Taxes -€7,160
down €7,160 (-58.9%), from €12,154 to €4,995
- Depreciation +€3,050
up €3,050 (+34.9%), from €8,736 to €11,786
- Staff costs -€2,540
down €2,540, from €2,502 to -€38
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 | €106,980 | €107,683 | +€702 | +0.7% |
| Fixed assets | 21/28 | €42,329 | €42,913 | +€584 | +1.4% |
| Intangible fixed assets | 21 | - | €770 | +€770 | |
| Tangible fixed assets | 22/27 | €42,329 | €42,143 | -€186 | -0.4% |
| Plant, machinery and equipment | 23 | €33,363 | €28,103 | -€5,260 | -15.8% |
| Furniture and vehicles | 24 | €1,500 | €3,133 | +€1,633 | +108.9% |
| Other tangible fixed assets | 26 | €7,466 | €10,907 | +€3,442 | +46.1% |
| Current assets | 29/58 | €64,651 | €64,769 | +€118 | +0.2% |
| Stocks and contracts in progress | 3 | €40,653 | €30,341 | -€10,312 | -25.4% |
| Stocks | 30/36 | €40,653 | €30,341 | -€10,312 | -25.4% |
| Amounts receivable within one year | 40/41 | €5,351 | €22,248 | +€16,897 | +315.8% |
| Trade receivables | 40 | €957 | €1,329 | +€371 | +38.8% |
| Other amounts receivable | 41 | €4,394 | €20,919 | +€16,526 | +376.1% |
| Cash at bank and in hand | 54/58 | €17,541 | €10,926 | -€6,615 | -37.7% |
| Deferred charges and accrued income | 490/1 | €1,107 | €1,255 | +€148 | +13.4% |
| Total equity and liabilities | 10/49 | €106,980 | €107,683 | +€702 | +0.7% |
| Equity | 10/15 | €45,860 | €61,904 | +€16,044 | +35.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | - | €61,404 | +€61,404 | |
| Distributable reserves | 133 | - | €61,404 | +€61,404 | |
| Profit (loss) carried forward | 14 | €45,360 | - | -€45,360 | |
| Amounts payable | 17/49 | €61,120 | €45,779 | -€15,342 | -25.1% |
| Amounts payable after more than one year | 17 | €18,432 | €8,420 | -€10,013 | -54.3% |
| Financial debts | 170/4 | €18,432 | €8,420 | -€10,013 | -54.3% |
| Amounts payable within one year | 42/48 | €42,688 | €37,359 | -€5,329 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €10,422 | €10,013 | -€409 | -3.9% |
| Financial debts | 43 | €12,000 | €12,000 | = | 0.0% |
| Credit institutions | 430/8 | €12,000 | €12,000 | = | 0.0% |
| Trade debts | 44 | €12,130 | €8,482 | -€3,648 | -30.1% |
| Suppliers | 440/4 | €12,130 | €8,482 | -€3,648 | -30.1% |
| Advances received on contracts in progress | 46 | - | €1,495 | +€1,495 | |
| Taxes, remuneration and social security | 45 | €8,136 | €5,369 | -€2,767 | -34.0% |
| Taxes | 450/3 | €7,973 | €5,369 | -€2,604 | -32.7% |
| Remuneration and social security | 454/9 | €163 | - | -€163 | |
| Non-recurring operating income | 76A | €950 | - | -€950 | |
| Remuneration, social security and pensions | 62 | €2,502 | -€38 | -€2,540 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,736 | €11,786 | +€3,050 | +34.9% |
| Other operating charges | 640/8 | €1,809 | €11,394 | +€9,585 | +529.9% |
| Gross operating margin | 9900 | €73,335 | €46,745 | -€26,590 | -36.3% |
| Operating profit (loss) | 9901 | €60,289 | €23,604 | -€36,684 | -60.8% |
| Financial income | 75/76B | €238 | €650 | +€412 | +173.3% |
| Recurring financial income | 75 | €238 | €650 | +€412 | +173.3% |
| Financial charges | 65/66B | €3,012 | €3,216 | +€204 | +6.8% |
| Recurring financial charges | 65 | €3,012 | €3,216 | +€204 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €57,514 | €21,039 | -€36,476 | -63.4% |
| Income taxes | 67/77 | €12,154 | €4,995 | -€7,160 | -58.9% |
| Profit (loss) for the period | 9904 | €45,360 | €16,044 | -€29,316 | -64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,360 | €16,044 | -€29,316 | -64.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.