Studio Evert Thiry: 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 Evert Thiry
Largest movements
- Receivables within one year -€11,791
down €11,791 (-16.7%), from €70,718 to €58,927
of which Trade receivables: -€12,545
- Cash -€6,172
down €6,172 (-100.0%), from €6,173 to €1
mainly Net result for the year (-€17,621) and Tax, wage and social debts (-€3,026)
- Tangible fixed assets -€1,596
down €1,596 (-50.0%), from €3,192 to €1,596
- Reserves -€17,621
down €17,621 (-26.0%), from €67,790 to €50,169
of which Distributable reserves: -€17,621
- Tax, wage and social debts -€3,026
down €3,026 (-52.9%), from €5,724 to €2,698
- Gross operating margin -€22,340
down €22,340, from €5,144 to -€17,196
- Depreciation -€776
down €776 (-32.7%), from €2,372 to €1,596
- Other operating charges -€301
down €301 (-18.0%), from €1,676 to €1,374
- Financial charges -€269
down €269 (-40.7%), from €662 to €392
- Financial income -€266
down €266 (-7.9%), from €3,391 to €3,125
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 | €81,112 | €61,263 | -€19,849 | -24.5% |
| Fixed assets | 21/28 | €3,192 | €1,596 | -€1,596 | -50.0% |
| Tangible fixed assets | 22/27 | €3,192 | €1,596 | -€1,596 | -50.0% |
| Furniture and vehicles | 24 | €3,192 | €1,596 | -€1,596 | -50.0% |
| Current assets | 29/58 | €77,920 | €59,667 | -€18,253 | -23.4% |
| Amounts receivable within one year | 40/41 | €70,718 | €58,927 | -€11,791 | -16.7% |
| Trade receivables | 40 | €15,078 | €2,534 | -€12,545 | -83.2% |
| Other amounts receivable | 41 | €55,639 | €56,393 | +€753 | +1.4% |
| Current investments | 50/53 | €74 | €74 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,173 | €1 | -€6,172 | -100.0% |
| Deferred charges and accrued income | 490/1 | €955 | €665 | -€290 | -30.4% |
| Total equity and liabilities | 10/49 | €81,112 | €61,263 | -€19,849 | -24.5% |
| Equity | 10/15 | €73,995 | €56,374 | -€17,621 | -23.8% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €67,790 | €50,169 | -€17,621 | -26.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €65,930 | €48,309 | -€17,621 | -26.7% |
| Amounts payable | 17/49 | €7,117 | €4,889 | -€2,228 | -31.3% |
| Amounts payable within one year | 42/48 | €7,117 | €4,889 | -€2,228 | -31.3% |
| Financial debts | 43 | €0 | €628 | +€628 | |
| Credit institutions | 430/8 | €0 | €628 | +€628 | |
| Trade debts | 44 | €1,393 | €1,562 | +€169 | +12.1% |
| Suppliers | 440/4 | €1,393 | €1,562 | +€169 | +12.1% |
| Taxes, remuneration and social security | 45 | €5,724 | €2,698 | -€3,026 | -52.9% |
| Taxes | 450/3 | €5,724 | €2,698 | -€3,026 | -52.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,372 | €1,596 | -€776 | -32.7% |
| Other operating charges | 640/8 | €1,676 | €1,374 | -€301 | -18.0% |
| Gross operating margin | 9900 | €5,144 | -€17,196 | -€22,340 | |
| Operating profit (loss) | 9901 | €1,096 | -€20,167 | -€21,263 | |
| Financial income | 75/76B | €3,391 | €3,125 | -€266 | -7.9% |
| Recurring financial income | 75 | €3,391 | €3,125 | -€266 | -7.9% |
| Financial charges | 65/66B | €662 | €392 | -€269 | -40.7% |
| Recurring financial charges | 65 | €662 | €392 | -€269 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €3,825 | -€17,434 | -€21,259 | |
| Income taxes | 67/77 | €166 | €187 | +€21 | +12.7% |
| Profit (loss) for the period | 9904 | €3,660 | -€17,621 | -€21,280 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,660 | -€17,621 | -€21,280 |
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 2 October 2026 via checked.be.