Studio Hoy: 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 Hoy
Largest movements
- Tangible fixed assets -€24,779
down €24,779 (-9.5%), from €260,848 to €236,070
of which Land and buildings: -€23,671
- Cash +€2,927
up €2,927 (+221%), from €1,325 to €4,251
mainly Depreciation (+€24,779) and Net result for the year (+€5,418)
- Debts after one year -€23,994
down €23,994 (-11.9%), from €200,924 to €176,930
- Current portion of long-term debt -€7,821
down €7,821 (-24.6%), from €31,815 to €23,994
- Profit (loss) carried forward +€5,418
up €5,418 (+3.3%), from -€165,941 to -€160,522
- Staff costs -€16,997
down €16,997 (-37.2%), from €45,709 to €28,712
- Gross operating margin -€14,619
down €14,619 (-17.0%), from €86,071 to €71,452
- Financial income -€1,109
down €1,109 (-95.5%), from €1,161 to €52
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 | €277,281 | €254,512 | -€22,769 | -8.2% |
| Fixed assets | 21/28 | €260,848 | €236,070 | -€24,779 | -9.5% |
| Tangible fixed assets | 22/27 | €260,848 | €236,070 | -€24,779 | -9.5% |
| Land and buildings | 22 | €259,027 | €235,356 | -€23,671 | -9.1% |
| Plant, machinery and equipment | 23 | €364 | €184 | -€180 | -49.5% |
| Furniture and vehicles | 24 | €1,457 | €530 | -€927 | -63.6% |
| Current assets | 29/58 | €16,432 | €18,442 | +€2,010 | +12.2% |
| Stocks and contracts in progress | 3 | €6,617 | €6,717 | +€100 | +1.5% |
| Stocks | 30/36 | €6,617 | €6,717 | +€100 | +1.5% |
| Amounts receivable within one year | 40/41 | €5,615 | €6,364 | +€749 | +13.3% |
| Trade receivables | 40 | €4,766 | €4,695 | -€71 | -1.5% |
| Other amounts receivable | 41 | €850 | €1,670 | +€820 | +96.5% |
| Cash at bank and in hand | 54/58 | €1,325 | €4,251 | +€2,927 | +221% |
| Deferred charges and accrued income | 490/1 | €2,876 | €1,110 | -€1,765 | -61.4% |
| Total equity and liabilities | 10/49 | €277,281 | €254,512 | -€22,769 | -8.2% |
| Equity | 10/15 | €9,059 | €14,478 | +€5,418 | +59.8% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€165,941 | -€160,522 | +€5,418 | +3.3% |
| Amounts payable | 17/49 | €268,222 | €240,035 | -€28,187 | -10.5% |
| Amounts payable after more than one year | 17 | €200,924 | €176,930 | -€23,994 | -11.9% |
| Financial debts | 170/4 | €200,924 | €176,930 | -€23,994 | -11.9% |
| Amounts payable within one year | 42/48 | €67,298 | €63,105 | -€4,193 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €31,815 | €23,994 | -€7,821 | -24.6% |
| Trade debts | 44 | €15,844 | €17,274 | +€1,430 | +9.0% |
| Suppliers | 440/4 | €15,844 | €17,274 | +€1,430 | +9.0% |
| Taxes, remuneration and social security | 45 | €593 | €618 | +€25 | +4.3% |
| Taxes | 450/3 | €593 | €618 | +€25 | +4.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €19,046 | €21,218 | +€2,172 | +11.4% |
| Remuneration, social security and pensions | 62 | €45,709 | €28,712 | -€16,997 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,599 | €24,779 | +€180 | +0.7% |
| Other operating charges | 640/8 | €7,562 | €7,790 | +€227 | +3.0% |
| Gross operating margin | 9900 | €86,071 | €71,452 | -€14,619 | -17.0% |
| Operating profit (loss) | 9901 | €8,201 | €10,172 | +€1,971 | +24.0% |
| Financial income | 75/76B | €1,161 | €52 | -€1,109 | -95.5% |
| Recurring financial income | 75 | €1,161 | €52 | -€1,109 | -95.5% |
| Financial charges | 65/66B | €5,066 | €4,490 | -€576 | -11.4% |
| Recurring financial charges | 65 | €5,066 | €4,490 | -€576 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €4,297 | €5,734 | +€1,437 | +33.4% |
| Income taxes | 67/77 | €308 | €316 | +€8 | +2.6% |
| Profit (loss) for the period | 9904 | €3,989 | €5,418 | +€1,429 | +35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,989 | €5,418 | +€1,429 | +35.8% |
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 15 October 2026 via checked.be.