STUDIO GROA: 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 GROA
Largest movements
- Receivables within one year -€196,066
down €196,066 (-78.7%), from €249,129 to €53,062
of which Trade receivables: -€182,602
- Cash +€118,525
up €118,525 (+404.0%), from €29,336 to €147,861
mainly Receivables within one year (+€196,066) and Accrued charges and deferred income (+€22,081)
- Current investments +€23,616
new in 2025: €23,616
- Tangible fixed assets +€18,651
up €18,651 (+203.2%), from €9,179 to €27,829
of which Furniture and vehicles: +€19,177
- Deferred charges and accrued income +€3,108
up €3,108 (+341.4%), from €910 to €4,018
- Tax, wage and social debts -€32,261
down €32,261 (-32.9%), from €98,191 to €65,930
- Reserves -€32,252
down €32,252 (-17.9%), from €179,694 to €147,442
- Accrued charges and deferred income +€22,081
up €22,081 (+529.5%), from €4,170 to €26,251
- Other debts +€6,622
new in 2025: €6,622
- Trade debts +€3,429
up €3,429 (+92.4%), from €3,713 to €7,142
- Gross operating margin -€262,127
down €262,127, from €239,971 to -€22,156
- Taxes -€54,519
down €54,519 (-99.6%), from €54,712 to €193
- Depreciation +€2,700
up €2,700 (+104.4%), from €2,587 to €5,288
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 | €288,768 | €256,387 | -€32,381 | -11.2% |
| Formation expenses | 20 | €215 | - | -€215 | |
| Fixed assets | 21/28 | €9,179 | €27,829 | +€18,651 | +203.2% |
| Tangible fixed assets | 22/27 | €9,179 | €27,829 | +€18,651 | +203.2% |
| Plant, machinery and equipment | 23 | €8,598 | €6,147 | -€2,451 | -28.5% |
| Furniture and vehicles | 24 | €580 | €19,757 | +€19,177 | +3304.0% |
| Other tangible fixed assets | 26 | - | €1,925 | +€1,925 | |
| Current assets | 29/58 | €279,375 | €228,558 | -€50,817 | -18.2% |
| Amounts receivable within one year | 40/41 | €249,129 | €53,062 | -€196,066 | -78.7% |
| Trade receivables | 40 | €235,464 | €52,862 | -€182,602 | -77.5% |
| Other amounts receivable | 41 | €13,664 | €200 | -€13,464 | -98.5% |
| Current investments | 50/53 | - | €23,616 | +€23,616 | |
| Cash at bank and in hand | 54/58 | €29,336 | €147,861 | +€118,525 | +404.0% |
| Deferred charges and accrued income | 490/1 | €910 | €4,018 | +€3,108 | +341.4% |
| Total equity and liabilities | 10/49 | €288,768 | €256,387 | -€32,381 | -11.2% |
| Equity | 10/15 | €182,694 | €150,442 | -€32,252 | -17.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €179,694 | €147,442 | -€32,252 | -17.9% |
| Distributable reserves | 133 | €179,694 | €147,442 | -€32,252 | -17.9% |
| Amounts payable | 17/49 | €106,074 | €105,945 | -€129 | -0.1% |
| Amounts payable within one year | 42/48 | €101,904 | €79,694 | -€22,210 | -21.8% |
| Trade debts | 44 | €3,713 | €7,142 | +€3,429 | +92.4% |
| Suppliers | 440/4 | €3,713 | €7,142 | +€3,429 | +92.4% |
| Taxes, remuneration and social security | 45 | €98,191 | €65,930 | -€32,261 | -32.9% |
| Taxes | 450/3 | €98,191 | €65,930 | -€32,261 | -32.9% |
| Other amounts payable | 47/48 | - | €6,622 | +€6,622 | |
| Accrued charges and deferred income | 492/3 | €4,170 | €26,251 | +€22,081 | +529.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,587 | €5,288 | +€2,700 | +104.4% |
| Other operating charges | 640/8 | €2,811 | €1,036 | -€1,775 | -63.2% |
| Non-recurring operating charges | 66A | - | €3,127 | +€3,127 | |
| Gross operating margin | 9900 | €239,971 | -€22,156 | -€262,127 | |
| Operating profit (loss) | 9901 | €234,573 | -€31,606 | -€266,179 | |
| Financial income | 75/76B | €9 | €1,329 | +€1,320 | +14237.3% |
| Recurring financial income | 75 | €9 | €1,329 | +€1,320 | +14237.3% |
| Financial charges | 65/66B | €176 | €1,781 | +€1,605 | +912.2% |
| Recurring financial charges | 65 | €176 | €1,781 | +€1,605 | +912.2% |
| Profit (loss) for the period before taxes | 9903 | €234,406 | -€32,058 | -€266,464 | |
| Income taxes | 67/77 | €54,712 | €193 | -€54,519 | -99.6% |
| Profit (loss) for the period | 9904 | €179,694 | -€32,252 | -€211,945 | |
| Profit (loss) for the period to be appropriated | 9905 | €179,694 | -€32,252 | -€211,945 |
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 8 October 2026 via checked.be.