STUDIO FASE: 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 FASE
Largest movements
- Cash +€54,057
up €54,057 (+386%), from €13,988 to €68,045
mainly Net result for the year (+€28,796) and Depreciation (+€16,851)
- Receivables within one year -€14,745
down €14,745 (-25.4%), from €58,146 to €43,401
of which Other amounts receivable: -€11,284
- Stocks and contracts -€11,794
down €11,794 (-28.5%), from €41,345 to €29,552
- Tangible fixed assets -€5,343
down €5,343 (-9.6%), from €55,402 to €50,060
of which Leasing and similar rights: -€6,800
- Profit (loss) carried forward +€27,937
up €27,937 (+37.1%), from €75,217 to €103,153
- Other debts +€3,238
up €3,238 (+14.3%), from €22,678 to €25,916
- Debts after one year -€2,858
no longer reported in 2025 (was €2,858)
- Tax, wage and social debts -€2,680
down €2,680 (-30.5%), from €8,790 to €6,111
of which Taxes: -€4,980
- Current portion of long-term debt -€2,160
down €2,160 (-43.1%), from €5,018 to €2,858
- Gross operating margin +€23,195
up €23,195 (+71.6%), from €32,407 to €55,603
- Taxes +€15,007
up €15,007, from -€7,512 to €7,496
- Financial charges -€1,170
down €1,170 (-34.4%), from €3,399 to €2,229
- Write-downs -€800
no longer reported in 2025 (was €800)
- Depreciation -€796
down €796 (-4.5%), from €17,648 to €16,851
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 | €178,039 | €198,810 | +€20,771 | +11.7% |
| Fixed assets | 21/28 | €55,402 | €50,060 | -€5,343 | -9.6% |
| Tangible fixed assets | 22/27 | €55,402 | €50,060 | -€5,343 | -9.6% |
| Land and buildings | 22 | €30,389 | €27,266 | -€3,123 | -10.3% |
| Plant, machinery and equipment | 23 | €3,990 | €9,674 | +€5,684 | +142% |
| Furniture and vehicles | 24 | €10,684 | €9,581 | -€1,104 | -10.3% |
| Leasing and similar rights | 25 | €10,340 | €3,540 | -€6,800 | -65.8% |
| Current assets | 29/58 | €122,636 | €148,750 | +€26,114 | +21.3% |
| Stocks and contracts in progress | 3 | €41,345 | €29,552 | -€11,794 | -28.5% |
| Stocks | 30/36 | €41,345 | €29,552 | -€11,794 | -28.5% |
| Amounts receivable within one year | 40/41 | €58,146 | €43,401 | -€14,745 | -25.4% |
| Trade receivables | 40 | €44,358 | €40,896 | -€3,461 | -7.8% |
| Other amounts receivable | 41 | €13,788 | €2,504 | -€11,284 | -81.8% |
| Cash at bank and in hand | 54/58 | €13,988 | €68,045 | +€54,057 | +386% |
| Deferred charges and accrued income | 490/1 | €9,157 | €7,753 | -€1,404 | -15.3% |
| Total equity and liabilities | 10/49 | €178,039 | €198,810 | +€20,771 | +11.7% |
| Equity | 10/15 | €93,884 | €121,820 | +€27,937 | +29.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67 | €67 | = | 0.0% |
| Non-distributable reserves | 130/1 | €67 | €67 | = | 0.0% |
| Reserves not available under the articles | 1311 | €67 | €67 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,217 | €103,153 | +€27,937 | +37.1% |
| Amounts payable | 17/49 | €84,155 | €76,989 | -€7,166 | -8.5% |
| Amounts payable after more than one year | 17 | €2,858 | - | -€2,858 | |
| Financial debts | 170/4 | €2,858 | - | -€2,858 | |
| Amounts payable within one year | 42/48 | €81,298 | €76,989 | -€4,308 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €5,018 | €2,858 | -€2,160 | -43.1% |
| Trade debts | 44 | €42,580 | €40,433 | -€2,147 | -5.0% |
| Suppliers | 440/4 | €42,580 | €40,433 | -€2,147 | -5.0% |
| Advances received on contracts in progress | 46 | €2,231 | €1,672 | -€559 | -25.1% |
| Taxes, remuneration and social security | 45 | €8,790 | €6,111 | -€2,680 | -30.5% |
| Taxes | 450/3 | €8,790 | €3,811 | -€4,980 | -56.6% |
| Remuneration and social security | 454/9 | - | €2,300 | +€2,300 | |
| Other amounts payable | 47/48 | €22,678 | €25,916 | +€3,238 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,648 | €16,851 | -€796 | -4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €800 | - | -€800 | |
| Other operating charges | 640/8 | €192 | €231 | +€39 | +20.1% |
| Gross operating margin | 9900 | €32,407 | €55,603 | +€23,195 | +71.6% |
| Operating profit (loss) | 9901 | €13,768 | €38,521 | +€24,753 | +180% |
| Financial income | 75/76B | €17 | - | -€17 | |
| Recurring financial income | 75 | €17 | - | -€17 | |
| Financial charges | 65/66B | €3,399 | €2,229 | -€1,170 | -34.4% |
| Recurring financial charges | 65 | €3,399 | €2,229 | -€1,170 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €10,386 | €36,292 | +€25,906 | +249% |
| Income taxes | 67/77 | -€7,512 | €7,496 | +€15,007 | |
| Profit (loss) for the period | 9904 | €17,897 | €28,796 | +€10,899 | +60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,897 | €28,796 | +€10,899 | +60.9% |
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 14 October 2026 via checked.be.