STUDIO GRÜN: 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 GRÜN
Largest movements
- Receivables within one year -€49,514
down €49,514 (-71.8%), from €68,992 to €19,478
of which Trade receivables: -€46,533
- Cash +€39,203
up €39,203 (+67.2%), from €58,342 to €97,544
mainly Receivables within one year (+€49,514) and Debts after one year (+€17,907)
- Tangible fixed assets +€27,317
up €27,317 (+812.2%), from €3,364 to €30,681
of which Furniture and vehicles: +€27,702
- Trade debts -€22,025
down €22,025 (-72.7%), from €30,289 to €8,264
- Debts after one year +€17,907
new in 2025: €17,907
- Reserves +€14,732
up €14,732 (+26.4%), from €55,877 to €70,609
- Current portion of long-term debt +€7,801
up €7,801, from €0 to €7,801
- Other debts -€1,795
down €1,795 (-11.7%), from €15,305 to €13,510
- Gross operating margin +€3,584
up €3,584 (+13.6%), from €26,395 to €29,979
- Depreciation +€1,232
up €1,232 (+19.1%), from €6,451 to €7,683
- Financial charges +€746
up €746 (+54.1%), from €1,378 to €2,125
- Other operating charges +€388
up €388 (+35.0%), from €1,109 to €1,497
- Taxes +€373
up €373 (+10.4%), from €3,570 to €3,943
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 | €132,625 | €149,928 | +€17,303 | +13.0% |
| Fixed assets | 21/28 | €3,364 | €30,681 | +€27,317 | +812.2% |
| Tangible fixed assets | 22/27 | €3,364 | €30,681 | +€27,317 | +812.2% |
| Plant, machinery and equipment | 23 | €1,329 | €944 | -€385 | -28.9% |
| Furniture and vehicles | 24 | €2,035 | €29,736 | +€27,702 | +1361.4% |
| Current assets | 29/58 | €129,261 | €119,247 | -€10,014 | -7.7% |
| Amounts receivable within one year | 40/41 | €68,992 | €19,478 | -€49,514 | -71.8% |
| Trade receivables | 40 | €65,823 | €19,289 | -€46,533 | -70.7% |
| Other amounts receivable | 41 | €3,169 | €189 | -€2,980 | -94.0% |
| Cash at bank and in hand | 54/58 | €58,342 | €97,544 | +€39,203 | +67.2% |
| Deferred charges and accrued income | 490/1 | €1,927 | €2,225 | +€297 | +15.4% |
| Total equity and liabilities | 10/49 | €132,625 | €149,928 | +€17,303 | +13.0% |
| Equity | 10/15 | €75,877 | €90,609 | +€14,732 | +19.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €55,877 | €70,609 | +€14,732 | +26.4% |
| Distributable reserves | 133 | €55,877 | €70,609 | +€14,732 | +26.4% |
| Amounts payable | 17/49 | €56,747 | €59,318 | +€2,571 | +4.5% |
| Amounts payable after more than one year | 17 | - | €17,907 | +€17,907 | |
| Financial debts | 170/4 | - | €17,907 | +€17,907 | |
| Amounts payable within one year | 42/48 | €55,869 | €40,646 | -€15,223 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | €7,801 | +€7,801 | |
| Trade debts | 44 | €30,289 | €8,264 | -€22,025 | -72.7% |
| Suppliers | 440/4 | €30,289 | €8,264 | -€22,025 | -72.7% |
| Taxes, remuneration and social security | 45 | €10,276 | €11,071 | +€795 | +7.7% |
| Taxes | 450/3 | €10,276 | €11,071 | +€795 | +7.7% |
| Other amounts payable | 47/48 | €15,305 | €13,510 | -€1,795 | -11.7% |
| Accrued charges and deferred income | 492/3 | €878 | €766 | -€112 | -12.8% |
| Non-recurring operating income | 76A | €250 | €0 | -€250 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,451 | €7,683 | +€1,232 | +19.1% |
| Other operating charges | 640/8 | €1,109 | €1,497 | +€388 | +35.0% |
| Gross operating margin | 9900 | €26,395 | €29,979 | +€3,584 | +13.6% |
| Operating profit (loss) | 9901 | €18,835 | €20,799 | +€1,964 | +10.4% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €1,378 | €2,125 | +€746 | +54.1% |
| Recurring financial charges | 65 | €1,378 | €2,125 | +€746 | +54.1% |
| Profit (loss) for the period before taxes | 9903 | €17,457 | €18,675 | +€1,218 | +7.0% |
| Income taxes | 67/77 | €3,570 | €3,943 | +€373 | +10.4% |
| Profit (loss) for the period | 9904 | €13,886 | €14,732 | +€846 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,886 | €14,732 | +€846 | +6.1% |
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.