Studio GFX: 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 GFX
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€12,052
down €12,052 (-17.2%), from €69,906 to €57,854
mainly Current investments (-€100,000) and Contributions, distributions and other (-€75,000)
- Tangible fixed assets -€11,918
down €11,918 (-22.4%), from €53,261 to €41,343
of which Furniture and vehicles: -€14,062
- Other debts +€75,000
new in 2025: €75,000
- Reserves +€24,328
up €24,328 (+43.0%), from €56,519 to €80,846
- Tax, wage and social debts -€12,323
down €12,323 (-50.5%), from €24,426 to €12,102
of which Taxes: -€12,298
- Debts after one year -€9,568
down €9,568 (-24.5%), from €39,010 to €29,441
of which Financial debts: -€11,095
- Gross operating margin +€112,194
up €112,194 (+353.1%), from €31,776 to €143,970
- Taxes +€24,066
up €24,066 (+660.6%), from €3,643 to €27,709
- Financial income +€1,578
up €1,578 (+49324.4%), from €3 to €1,582
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 | €135,342 | €213,253 | +€77,911 | +57.6% |
| Fixed assets | 21/28 | €53,261 | €41,343 | -€11,918 | -22.4% |
| Tangible fixed assets | 22/27 | €53,261 | €41,343 | -€11,918 | -22.4% |
| Plant, machinery and equipment | 23 | €3,173 | €5,316 | +€2,143 | +67.6% |
| Furniture and vehicles | 24 | €50,089 | €36,027 | -€14,062 | -28.1% |
| Current assets | 29/58 | €82,081 | €171,910 | +€89,829 | +109.4% |
| Amounts receivable within one year | 40/41 | €10,628 | €11,236 | +€608 | +5.7% |
| Trade receivables | 40 | €10,628 | €8,470 | -€2,158 | -20.3% |
| Other amounts receivable | 41 | - | €2,766 | +€2,766 | |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €69,906 | €57,854 | -€12,052 | -17.2% |
| Deferred charges and accrued income | 490/1 | €1,547 | €2,820 | +€1,273 | +82.3% |
| Total equity and liabilities | 10/49 | €135,342 | €213,253 | +€77,911 | +57.6% |
| Equity | 10/15 | €59,519 | €83,846 | +€24,328 | +40.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €56,519 | €80,846 | +€24,328 | +43.0% |
| Distributable reserves | 133 | €56,519 | €80,846 | +€24,328 | +43.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €75,823 | €129,406 | +€53,583 | +70.7% |
| Amounts payable after more than one year | 17 | €39,010 | €29,441 | -€9,568 | -24.5% |
| Financial debts | 170/4 | €31,920 | €20,825 | -€11,095 | -34.8% |
| Other amounts payable | 178/9 | €7,089 | €8,617 | +€1,527 | +21.5% |
| Amounts payable within one year | 42/48 | €36,814 | €99,591 | +€62,777 | +170.5% |
| Current portion of amounts payable after more than one year | 42 | €11,822 | €12,092 | +€270 | +2.3% |
| Trade debts | 44 | €566 | €397 | -€169 | -29.8% |
| Suppliers | 440/4 | €566 | €397 | -€169 | -29.8% |
| Taxes, remuneration and social security | 45 | €24,426 | €12,102 | -€12,323 | -50.5% |
| Taxes | 450/3 | €22,139 | €9,842 | -€12,298 | -55.5% |
| Remuneration and social security | 454/9 | €2,286 | €2,261 | -€26 | -1.1% |
| Other amounts payable | 47/48 | - | €75,000 | +€75,000 | |
| Accrued charges and deferred income | 492/3 | - | €374 | +€374 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,298 | €15,198 | +€901 | +6.3% |
| Other operating charges | 640/8 | €1,059 | €771 | -€287 | -27.2% |
| Gross operating margin | 9900 | €31,776 | €143,970 | +€112,194 | +353.1% |
| Operating profit (loss) | 9901 | €16,420 | €128,000 | +€111,580 | +679.5% |
| Financial income | 75/76B | €3 | €1,582 | +€1,578 | +49324.4% |
| Recurring financial income | 75 | €3 | €1,582 | +€1,578 | +49324.4% |
| Financial charges | 65/66B | €1,788 | €2,546 | +€758 | +42.4% |
| Recurring financial charges | 65 | €1,788 | €2,546 | +€758 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €14,635 | €127,036 | +€112,401 | +768.0% |
| Income taxes | 67/77 | €3,643 | €27,709 | +€24,066 | +660.6% |
| Profit (loss) for the period | 9904 | €10,992 | €99,328 | +€88,335 | +803.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,992 | €99,328 | +€88,335 | +803.6% |
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 6 October 2026 via checked.be.