Studio Engarde: 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 Engarde
Largest movements
- Cash +€72,061
up €72,061 (+146.3%), from €49,250 to €121,310
mainly Net result for the year (+€47,672) and Other debts (+€47,600)
- Receivables within one year -€38,601
down €38,601 (-24.1%), from €160,360 to €121,759
of which Trade receivables: -€38,397
- Current investments -€15,000
no longer reported in 2025 (was €15,000)
- Tangible fixed assets +€3,203
up €3,203 (+49.4%), from €6,478 to €9,681
of which Furniture and vehicles: +€5,803
- Other debts +€47,600
new in 2025: €47,600
- Trade debts -€22,493
down €22,493 (-17.9%), from €125,334 to €102,841
- Advances received -€8,231
down €8,231 (-14.1%), from €58,231 to €50,000
- Tax, wage and social debts +€4,250
up €4,250 (+15.5%), from €27,482 to €31,732
of which Taxes: +€4,317
- Gross operating margin +€54,300
up €54,300 (+48.0%), from €113,132 to €167,433
- Staff costs +€9,449
up €9,449 (+9.1%), from €103,687 to €113,137
- Depreciation -€2,737
down €2,737 (-32.2%), from €8,500 to €5,764
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 | €234,850 | €256,048 | +€21,198 | +9.0% |
| Fixed assets | 21/28 | €6,478 | €9,681 | +€3,203 | +49.4% |
| Tangible fixed assets | 22/27 | €6,478 | €9,681 | +€3,203 | +49.4% |
| Furniture and vehicles | 24 | €1,755 | €7,558 | +€5,803 | +330.6% |
| Other tangible fixed assets | 26 | €4,723 | €2,123 | -€2,600 | -55.1% |
| Current assets | 29/58 | €228,372 | €246,367 | +€17,995 | +7.9% |
| Amounts receivable within one year | 40/41 | €160,360 | €121,759 | -€38,601 | -24.1% |
| Trade receivables | 40 | €160,110 | €121,712 | -€38,397 | -24.0% |
| Other amounts receivable | 41 | €250 | €46 | -€204 | -81.5% |
| Current investments | 50/53 | €15,000 | - | -€15,000 | |
| Cash at bank and in hand | 54/58 | €49,250 | €121,310 | +€72,061 | +146.3% |
| Deferred charges and accrued income | 490/1 | €3,763 | €3,298 | -€465 | -12.4% |
| Total equity and liabilities | 10/49 | €234,850 | €256,048 | +€21,198 | +9.0% |
| Equity | 10/15 | €23,803 | €23,875 | +€72 | +0.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,803 | €3,875 | +€72 | +1.9% |
| Distributable reserves | 133 | €3,803 | €3,875 | +€72 | +1.9% |
| Amounts payable | 17/49 | €211,047 | €232,173 | +€21,126 | +10.0% |
| Amounts payable within one year | 42/48 | €211,047 | €232,173 | +€21,126 | +10.0% |
| Trade debts | 44 | €125,334 | €102,841 | -€22,493 | -17.9% |
| Suppliers | 440/4 | €125,334 | €102,841 | -€22,493 | -17.9% |
| Advances received on contracts in progress | 46 | €58,231 | €50,000 | -€8,231 | -14.1% |
| Taxes, remuneration and social security | 45 | €27,482 | €31,732 | +€4,250 | +15.5% |
| Taxes | 450/3 | €13,351 | €17,668 | +€4,317 | +32.3% |
| Remuneration and social security | 454/9 | €14,131 | €14,064 | -€67 | -0.5% |
| Other amounts payable | 47/48 | - | €47,600 | +€47,600 | |
| Non-recurring operating income | 76A | - | €331 | +€331 | |
| Remuneration, social security and pensions | 62 | €103,687 | €113,137 | +€9,449 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,500 | €5,764 | -€2,737 | -32.2% |
| Other operating charges | 640/8 | €613 | €632 | +€19 | +3.0% |
| Gross operating margin | 9900 | €113,132 | €167,433 | +€54,300 | +48.0% |
| Operating profit (loss) | 9901 | €332 | €47,901 | +€47,569 | +14335.3% |
| Financial income | 75/76B | €803 | €564 | -€240 | -29.8% |
| Recurring financial income | 75 | €803 | €564 | -€240 | -29.8% |
| Financial charges | 65/66B | €190 | €151 | -€39 | -20.8% |
| Recurring financial charges | 65 | €190 | €151 | -€39 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €945 | €48,314 | +€47,369 | +5011.7% |
| Income taxes | 67/77 | €702 | €642 | -€60 | -8.5% |
| Profit (loss) for the period | 9904 | €243 | €47,672 | +€47,429 | +19525.2% |
| Profit (loss) for the period to be appropriated | 9905 | €243 | €47,672 | +€47,429 | +19525.2% |
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 30 September 2026 via checked.be.