Studio IV: 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 IV
Largest movements
- Tangible fixed assets +€83,043
up €83,043 (+907.4%), from €9,152 to €92,195
of which Plant, machinery and equipment: +€42,470
- Receivables after one year -€61,478
no longer reported in 2025 (was €61,478)
- Cash +€30,376
up €30,376 (+39.3%), from €77,198 to €107,574
mainly Receivables after one year (+€61,478) and Receivables within one year (+€29,401)
- Receivables within one year -€29,401
down €29,401 (-87.3%), from €33,667 to €4,266
of which Other amounts receivable: -€30,526
- Trade debts +€14,387
up €14,387 (+281.4%), from €5,113 to €19,500
- Reserves +€13,770
up €13,770 (+24.2%), from €56,860 to €70,630
of which Distributable reserves: +€13,770
- Tax, wage and social debts -€2,649
down €2,649 (-11.5%), from €23,123 to €20,474
of which Taxes: -€5,449
- Short-term financial debts -€2,500
no longer reported in 2025 (was €2,500)
- Gross operating margin +€6,032
up €6,032 (+22.9%), from €26,378 to €32,410
- Depreciation +€2,347
up €2,347 (+24.2%), from €9,698 to €12,045
- Taxes +€1,152
up €1,152 (+22.2%), from €5,186 to €6,338
- Financial income -€612
down €612 (-36.9%), from €1,660 to €1,048
- Financial charges -€417
down €417 (-81.4%), from €512 to €95
of which Non-recurring financial charges: -€439
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 | €181,495 | €204,035 | +€22,540 | +12.4% |
| Fixed assets | 21/28 | €9,152 | €92,195 | +€83,043 | +907.4% |
| Tangible fixed assets | 22/27 | €9,152 | €92,195 | +€83,043 | +907.4% |
| Plant, machinery and equipment | 23 | €8,502 | €50,972 | +€42,470 | +499.5% |
| Furniture and vehicles | 24 | - | €0 | +€0 | |
| Other tangible fixed assets | 26 | €650 | €41,222 | +€40,572 | +6241.9% |
| Current assets | 29/58 | €172,343 | €111,840 | -€60,503 | -35.1% |
| Amounts receivable after more than one year | 29 | €61,478 | - | -€61,478 | |
| Trade receivables | 290 | €61,478 | - | -€61,478 | |
| Amounts receivable within one year | 40/41 | €33,667 | €4,266 | -€29,401 | -87.3% |
| Trade receivables | 40 | - | €1,125 | +€1,125 | |
| Other amounts receivable | 41 | €33,667 | €3,141 | -€30,526 | -90.7% |
| Cash at bank and in hand | 54/58 | €77,198 | €107,574 | +€30,376 | +39.3% |
| Total equity and liabilities | 10/49 | €181,495 | €204,035 | +€22,540 | +12.4% |
| Equity | 10/15 | €149,458 | €163,228 | +€13,770 | +9.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €56,860 | €70,630 | +€13,770 | +24.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €55,000 | €68,770 | +€13,770 | +25.0% |
| Profit (loss) carried forward | 14 | €80,198 | €80,198 | +€0 | 0.0% |
| Amounts payable | 17/49 | €32,037 | €40,807 | +€8,770 | +27.4% |
| Amounts payable within one year | 42/48 | €30,736 | €40,807 | +€10,071 | +32.8% |
| Financial debts | 43 | €2,500 | - | -€2,500 | |
| Credit institutions | 430/8 | €2,500 | - | -€2,500 | |
| Trade debts | 44 | €5,113 | €19,500 | +€14,387 | +281.4% |
| Suppliers | 440/4 | €5,113 | €19,500 | +€14,387 | +281.4% |
| Taxes, remuneration and social security | 45 | €23,123 | €20,474 | -€2,649 | -11.5% |
| Taxes | 450/3 | €23,123 | €17,674 | -€5,449 | -23.6% |
| Remuneration and social security | 454/9 | - | €2,800 | +€2,800 | |
| Other amounts payable | 47/48 | - | €833 | +€833 | |
| Accrued charges and deferred income | 492/3 | €1,301 | - | -€1,301 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,698 | €12,045 | +€2,347 | +24.2% |
| Other operating charges | 640/8 | €624 | €376 | -€248 | -39.8% |
| Gross operating margin | 9900 | €26,378 | €32,410 | +€6,032 | +22.9% |
| Operating profit (loss) | 9901 | €16,056 | €19,988 | +€3,932 | +24.5% |
| Financial income | 75/76B | €1,660 | €1,048 | -€612 | -36.9% |
| Recurring financial income | 75 | €1,660 | €1,048 | -€612 | -36.9% |
| Financial charges | 65/66B | €512 | €95 | -€417 | -81.4% |
| Recurring financial charges | 65 | €73 | €95 | +€22 | +30.1% |
| Non-recurring financial charges | 66B | €439 | - | -€439 | |
| Profit (loss) for the period before taxes | 9903 | €17,204 | €20,941 | +€3,737 | +21.7% |
| Income taxes | 67/77 | €5,186 | €6,338 | +€1,152 | +22.2% |
| Profit (loss) for the period | 9904 | €12,018 | €14,603 | +€2,585 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,018 | €14,603 | +€2,585 | +21.5% |
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 5 October 2026 via checked.be.