STUDIO ETHNICRAFT: 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 ETHNICRAFT
Largest movements
- Cash +€549,885
up €549,885 (+181%), from €303,413 to €853,298
mainly Other debts (+€250,000) and Receivables within one year (+€218,958)
- Receivables within one year -€218,958
down €218,958 (-51.1%), from €428,649 to €209,692
of which Other amounts receivable: -€190,495
- Deferred charges and accrued income +€28,760
up €28,760 (+628%), from €4,578 to €33,338
- Stocks and contracts -€23,664
down €23,664 (-8.9%), from €267,179 to €243,515
- Other debts +€250,000
new in 2025: €250,000
- Trade debts +€68,071
up €68,071 (+86.2%), from €78,986 to €147,057
- Advances received +€57,934
up €57,934 (+20.8%), from €278,868 to €336,802
- Reserves -€52,444
down €52,444 (-14.4%), from €363,740 to €311,296
of which Distributable reserves: -€52,444
- Accrued charges and deferred income +€44,021
up €44,021 (+150%), from €29,426 to €73,446
- Gross operating margin +€219,644
up €219,644 (+24.7%), from €888,017 to €1.1m
- Staff costs +€64,475
up €64,475 (+8.6%), from €745,542 to €810,018
- Taxes +€37,897
up €37,897 (+85.5%), from €44,318 to €82,215
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 | €1,016,802 | €1,359,979 | +€343,177 | +33.8% |
| Fixed assets | 21/28 | €12,983 | €19,477 | +€6,494 | +50.0% |
| Tangible fixed assets | 22/27 | €12,983 | €19,477 | +€6,494 | +50.0% |
| Plant, machinery and equipment | 23 | - | €1,013 | +€1,013 | |
| Furniture and vehicles | 24 | €12,983 | €18,464 | +€5,481 | +42.2% |
| Current assets | 29/58 | €1,003,819 | €1,340,502 | +€336,683 | +33.5% |
| Stocks and contracts in progress | 3 | €267,179 | €243,515 | -€23,664 | -8.9% |
| Stocks | 30/36 | €267,179 | €243,515 | -€23,664 | -8.9% |
| Amounts receivable within one year | 40/41 | €428,649 | €209,692 | -€218,958 | -51.1% |
| Trade receivables | 40 | €162,760 | €134,298 | -€28,463 | -17.5% |
| Other amounts receivable | 41 | €265,889 | €75,394 | -€190,495 | -71.6% |
| Current investments | 50/53 | - | €660 | +€660 | |
| Cash at bank and in hand | 54/58 | €303,413 | €853,298 | +€549,885 | +181% |
| Deferred charges and accrued income | 490/1 | €4,578 | €33,338 | +€28,760 | +628% |
| Total equity and liabilities | 10/49 | €1,016,802 | €1,359,979 | +€343,177 | +33.8% |
| Equity | 10/15 | €425,740 | €373,296 | -€52,444 | -12.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €363,740 | €311,296 | -€52,444 | -14.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €357,540 | €305,096 | -€52,444 | -14.7% |
| Amounts payable | 17/49 | €591,062 | €986,683 | +€395,621 | +66.9% |
| Amounts payable within one year | 42/48 | €561,636 | €913,236 | +€351,600 | +62.6% |
| Trade debts | 44 | €78,986 | €147,057 | +€68,071 | +86.2% |
| Suppliers | 440/4 | €78,986 | €147,057 | +€68,071 | +86.2% |
| Advances received on contracts in progress | 46 | €278,868 | €336,802 | +€57,934 | +20.8% |
| Taxes, remuneration and social security | 45 | €203,782 | €179,378 | -€24,404 | -12.0% |
| Taxes | 450/3 | €54,744 | €42,651 | -€12,093 | -22.1% |
| Remuneration and social security | 454/9 | €149,038 | €136,727 | -€12,312 | -8.3% |
| Other amounts payable | 47/48 | - | €250,000 | +€250,000 | |
| Accrued charges and deferred income | 492/3 | €29,426 | €73,446 | +€44,021 | +150% |
| Non-recurring operating income | 76A | €3,460 | - | -€3,460 | |
| Remuneration, social security and pensions | 62 | €745,542 | €810,018 | +€64,475 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,067 | €8,971 | +€904 | +11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,997 | -€4,668 | -€2,671 | -134% |
| Other operating charges | 640/8 | €2,186 | €2,039 | -€147 | -6.7% |
| Gross operating margin | 9900 | €888,017 | €1,107,661 | +€219,644 | +24.7% |
| Operating profit (loss) | 9901 | €134,218 | €291,301 | +€157,083 | +117% |
| Financial income | 75/76B | €9,233 | €2,163 | -€7,070 | -76.6% |
| Recurring financial income | 75 | €9,233 | €2,163 | -€7,070 | -76.6% |
| Financial charges | 65/66B | €10,606 | €13,694 | +€3,088 | +29.1% |
| Recurring financial charges | 65 | €10,606 | €13,694 | +€3,088 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €132,845 | €279,770 | +€146,925 | +111% |
| Income taxes | 67/77 | €44,318 | €82,215 | +€37,897 | +85.5% |
| Profit (loss) for the period | 9904 | €88,528 | €197,556 | +€109,028 | +123% |
| Profit (loss) for the period to be appropriated | 9905 | €88,528 | €197,556 | +€109,028 | +123% |
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 29 October 2026 via checked.be.