Studio Esene: 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 Esene
Largest movements
- Receivables within one year -€28,717
down €28,717 (-30.8%), from €93,136 to €64,419
of which Trade receivables: -€17,089
- Tangible fixed assets +€23,841
up €23,841 (+184.3%), from €12,937 to €36,778
of which Land and buildings: +€23,008
- Cash -€5,185
no longer reported in 2025 (was €5,185)
mainly Net result for the year (-€38,112) and Investment in fixed assets (net) (-€27,502)
- Deferred charges and accrued income -€1,955
down €1,955 (-44.4%), from €4,399 to €2,444
- Profit (loss) carried forward -€38,112
new in 2025: -€38,112
- Short-term financial debts +€19,294
new in 2025: €19,294
- Tax, wage and social debts -€15,017
down €15,017 (-42.0%), from €35,748 to €20,731
- Trade debts +€12,256
new in 2025: €12,256
- Current portion of long-term debt +€8,396
new in 2025: €8,396
- Gross operating margin -€114,387
down €114,387, from €83,627 to -€30,760
- Taxes -€17,651
down €17,651 (-99.3%), from €17,783 to €132
- Financial charges +€2,082
up €2,082 (+278.0%), from €749 to €2,831
- Other operating charges -€1,335
down €1,335 (-64.0%), from €2,085 to €750
- Depreciation +€1,131
up €1,131 (+44.7%), from €2,530 to €3,661
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 | €115,657 | €103,642 | -€12,015 | -10.4% |
| Fixed assets | 21/28 | €12,937 | €36,778 | +€23,841 | +184.3% |
| Tangible fixed assets | 22/27 | €12,937 | €36,778 | +€23,841 | +184.3% |
| Land and buildings | 22 | €6,743 | €29,751 | +€23,008 | +341.2% |
| Plant, machinery and equipment | 23 | - | €1,106 | +€1,106 | |
| Furniture and vehicles | 24 | €6,194 | €5,921 | -€273 | -4.4% |
| Current assets | 29/58 | €102,720 | €66,864 | -€35,856 | -34.9% |
| Amounts receivable within one year | 40/41 | €93,136 | €64,419 | -€28,717 | -30.8% |
| Trade receivables | 40 | €28,420 | €11,331 | -€17,089 | -60.1% |
| Other amounts receivable | 41 | €64,716 | €53,088 | -€11,628 | -18.0% |
| Current investments | 50/53 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €5,185 | - | -€5,185 | |
| Deferred charges and accrued income | 490/1 | €4,399 | €2,444 | -€1,955 | -44.4% |
| Total equity and liabilities | 10/49 | €115,657 | €103,642 | -€12,015 | -10.4% |
| Equity | 10/15 | €73,166 | €35,054 | -€38,112 | -52.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €70,666 | €70,666 | = | 0.0% |
| Distributable reserves | 133 | €70,666 | €70,666 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€38,112 | -€38,112 | |
| Amounts payable | 17/49 | €42,491 | €68,588 | +€26,097 | +61.4% |
| Amounts payable after more than one year | 17 | €6,743 | €7,911 | +€1,168 | +17.3% |
| Financial debts | 170/4 | €6,743 | €7,911 | +€1,168 | +17.3% |
| Amounts payable within one year | 42/48 | €35,748 | €60,677 | +€24,929 | +69.7% |
| Current portion of amounts payable after more than one year | 42 | - | €8,396 | +€8,396 | |
| Financial debts | 43 | - | €19,294 | +€19,294 | |
| Credit institutions | 430/8 | - | €19,294 | +€19,294 | |
| Trade debts | 44 | - | €12,256 | +€12,256 | |
| Suppliers | 440/4 | - | €12,256 | +€12,256 | |
| Taxes, remuneration and social security | 45 | €35,748 | €20,731 | -€15,017 | -42.0% |
| Taxes | 450/3 | €35,748 | €20,731 | -€15,017 | -42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,530 | €3,661 | +€1,131 | +44.7% |
| Other operating charges | 640/8 | €2,085 | €750 | -€1,335 | -64.0% |
| Gross operating margin | 9900 | €83,627 | -€30,760 | -€114,387 | |
| Operating profit (loss) | 9901 | €79,012 | -€35,171 | -€114,183 | |
| Financial income | 75/76B | €1 | €22 | +€21 | +2100.0% |
| Recurring financial income | 75 | €1 | €22 | +€21 | +2100.0% |
| Financial charges | 65/66B | €749 | €2,831 | +€2,082 | +278.0% |
| Recurring financial charges | 65 | €749 | €2,831 | +€2,082 | +278.0% |
| Profit (loss) for the period before taxes | 9903 | €78,264 | -€37,980 | -€116,244 | |
| Income taxes | 67/77 | €17,783 | €132 | -€17,651 | -99.3% |
| Profit (loss) for the period | 9904 | €60,481 | -€38,112 | -€98,593 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,481 | -€38,112 | -€98,593 |
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 11 October 2026 via checked.be.