Studio Hazar: 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 Hazar
Largest movements
- Cash +€69,491
up €69,491 (+220%), from €31,583 to €101,074
mainly Net result for the year (+€68,726) and Receivables within one year (+€3,601)
- Tangible fixed assets +€3,862
up €3,862 (+329%), from €1,176 to €5,038
- Receivables within one year -€3,601
down €3,601 (-30.5%), from €11,812 to €8,211
of which Trade receivables: -€3,693
- Intangible fixed assets +€3,564
new in 2025: €3,564
- Reserves +€67,893
up €67,893 (+224%), from €30,303 to €98,196
- Tax, wage and social debts +€3,513
up €3,513 (+33.9%), from €10,369 to €13,883
of which Remuneration and social security: +€2,000
- Other debts +€2,189
up €2,189 (+297%), from €738 to €2,927
- Gross operating margin +€50,054
up €50,054 (+130%), from €38,376 to €88,430
- Taxes +€9,880
up €9,880 (+127%), from €7,767 to €17,648
- Depreciation +€1,594
up €1,594 (+3,173%), from €50 to €1,644
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 | €44,571 | €118,561 | +€73,990 | +166% |
| Fixed assets | 21/28 | €1,176 | €8,602 | +€7,426 | +632% |
| Intangible fixed assets | 21 | - | €3,564 | +€3,564 | |
| Tangible fixed assets | 22/27 | €1,176 | €5,038 | +€3,862 | +329% |
| Furniture and vehicles | 24 | €1,176 | €5,038 | +€3,862 | +329% |
| Current assets | 29/58 | €43,395 | €109,959 | +€66,564 | +153% |
| Amounts receivable within one year | 40/41 | €11,812 | €8,211 | -€3,601 | -30.5% |
| Trade receivables | 40 | €11,812 | €8,119 | -€3,693 | -31.3% |
| Other amounts receivable | 41 | - | €92 | +€92 | |
| Cash at bank and in hand | 54/58 | €31,583 | €101,074 | +€69,491 | +220% |
| Deferred charges and accrued income | 490/1 | - | €674 | +€674 | |
| Total equity and liabilities | 10/49 | €44,571 | €118,561 | +€73,990 | +166% |
| Equity | 10/15 | €33,303 | €101,196 | +€67,893 | +204% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,303 | €98,196 | +€67,893 | +224% |
| Distributable reserves | 133 | €30,303 | €98,196 | +€67,893 | +224% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €11,267 | €17,365 | +€6,097 | +54.1% |
| Amounts payable within one year | 42/48 | €11,107 | €17,365 | +€6,257 | +56.3% |
| Trade debts | 44 | - | €555 | +€555 | |
| Suppliers | 440/4 | - | €555 | +€555 | |
| Taxes, remuneration and social security | 45 | €10,369 | €13,883 | +€3,513 | +33.9% |
| Taxes | 450/3 | €10,369 | €11,883 | +€1,513 | +14.6% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €738 | €2,927 | +€2,189 | +297% |
| Accrued charges and deferred income | 492/3 | €160 | €0 | -€160 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50 | €1,644 | +€1,594 | +3,173% |
| Other operating charges | 640/8 | €206 | €303 | +€98 | +47.6% |
| Gross operating margin | 9900 | €38,376 | €88,430 | +€50,054 | +130% |
| Operating profit (loss) | 9901 | €38,120 | €86,483 | +€48,363 | +127% |
| Financial income | 75/76B | €2 | €153 | +€151 | +7,092% |
| Recurring financial income | 75 | €2 | €153 | +€151 | +7,092% |
| Financial charges | 65/66B | €52 | €262 | +€211 | +407% |
| Recurring financial charges | 65 | €52 | €262 | +€211 | +407% |
| Profit (loss) for the period before taxes | 9903 | €38,071 | €86,374 | +€48,303 | +127% |
| Income taxes | 67/77 | €7,767 | €17,648 | +€9,880 | +127% |
| Profit (loss) for the period | 9904 | €30,303 | €68,726 | +€38,423 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €30,303 | €68,726 | +€38,423 | +127% |
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 28 October 2026 via checked.be.