STUDIO FOERT: 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 FOERT
Largest movements
- Cash -€31,353
down €31,353 (-89.4%), from €35,067 to €3,714
mainly Investment in fixed assets (net) (-€25,599) and Contributions, distributions and other (-€20,000)
- Receivables within one year -€17,364
down €17,364 (-77.4%), from €22,438 to €5,074
of which Other amounts receivable: -€18,491
- Tangible fixed assets +€6,109
up €6,109 (+3.4%), from €177,319 to €183,428
of which Land and buildings: +€6,336
- Intangible fixed assets +€5,724
new in 2025: €5,724
- Reserves -€25,721
down €25,721 (-37.0%), from €69,473 to €43,752
- Debts after one year -€13,991
down €13,991 (-8.5%), from €164,990 to €150,998
- Other debts +€4,905
new in 2025: €4,905
- Other operating charges -€2,235
down €2,235 (-54.6%), from €4,096 to €1,860
- Depreciation -€2,146
down €2,146 (-13.5%), from €15,911 to €13,765
- Gross operating margin +€733
up €733 (+6.2%), from €11,833 to €12,566
- Financial charges -€253
down €253 (-7.9%), from €3,200 to €2,947
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 | €265,882 | €228,944 | -€36,939 | -13.9% |
| Fixed assets | 21/28 | €177,319 | €189,153 | +€11,834 | +6.7% |
| Intangible fixed assets | 21 | - | €5,724 | +€5,724 | |
| Tangible fixed assets | 22/27 | €177,319 | €183,428 | +€6,109 | +3.4% |
| Land and buildings | 22 | €174,366 | €180,702 | +€6,336 | +3.6% |
| Plant, machinery and equipment | 23 | €2,731 | €1,629 | -€1,102 | -40.4% |
| Furniture and vehicles | 24 | €222 | €1,097 | +€875 | +393.8% |
| Current assets | 29/58 | €88,564 | €39,791 | -€48,773 | -55.1% |
| Stocks and contracts in progress | 3 | €26,654 | €28,476 | +€1,822 | +6.8% |
| Stocks | 30/36 | €26,654 | €28,476 | +€1,822 | +6.8% |
| Amounts receivable within one year | 40/41 | €22,438 | €5,074 | -€17,364 | -77.4% |
| Trade receivables | 40 | €3,355 | €4,482 | +€1,127 | +33.6% |
| Other amounts receivable | 41 | €19,083 | €592 | -€18,491 | -96.9% |
| Cash at bank and in hand | 54/58 | €35,067 | €3,714 | -€31,353 | -89.4% |
| Deferred charges and accrued income | 490/1 | €4,405 | €2,527 | -€1,878 | -42.6% |
| Total equity and liabilities | 10/49 | €265,882 | €228,944 | -€36,939 | -13.9% |
| Equity | 10/15 | €70,473 | €44,307 | -€26,166 | -37.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €69,473 | €43,752 | -€25,721 | -37.0% |
| Distributable reserves | 133 | €69,473 | €43,752 | -€25,721 | -37.0% |
| Profit (loss) carried forward | 14 | - | -€445 | -€445 | |
| Amounts payable | 17/49 | €195,409 | €184,636 | -€10,773 | -5.5% |
| Amounts payable after more than one year | 17 | €164,990 | €150,998 | -€13,991 | -8.5% |
| Financial debts | 170/4 | €164,990 | €150,998 | -€13,991 | -8.5% |
| Amounts payable within one year | 42/48 | €30,420 | €33,638 | +€3,219 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €13,790 | €13,991 | +€201 | +1.5% |
| Trade debts | 44 | €9,301 | €7,663 | -€1,638 | -17.6% |
| Suppliers | 440/4 | €9,301 | €7,663 | -€1,638 | -17.6% |
| Taxes, remuneration and social security | 45 | €7,328 | €7,079 | -€250 | -3.4% |
| Taxes | 450/3 | €7,328 | €7,079 | -€250 | -3.4% |
| Other amounts payable | 47/48 | - | €4,905 | +€4,905 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,911 | €13,765 | -€2,146 | -13.5% |
| Other operating charges | 640/8 | €4,096 | €1,860 | -€2,235 | -54.6% |
| Non-recurring operating charges | 66A | €167 | - | -€167 | |
| Gross operating margin | 9900 | €11,833 | €12,566 | +€733 | +6.2% |
| Operating profit (loss) | 9901 | -€8,341 | -€3,059 | +€5,282 | +63.3% |
| Financial income | 75/76B | - | €16 | +€16 | |
| Recurring financial income | 75 | - | €16 | +€16 | |
| Financial charges | 65/66B | €3,200 | €2,947 | -€253 | -7.9% |
| Recurring financial charges | 65 | €3,200 | €2,947 | -€253 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,541 | -€5,990 | +€5,551 | +48.1% |
| Income taxes | 67/77 | €140 | €176 | +€37 | +26.2% |
| Profit (loss) for the period | 9904 | -€11,680 | -€6,166 | +€5,514 | +47.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,680 | -€6,166 | +€5,514 | +47.2% |
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 12 October 2026 via checked.be.