STUDIO KAREN: 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 KAREN
Largest movements
- Receivables within one year -€16,738
down €16,738 (-65.7%), from €25,463 to €8,725
of which Trade receivables: -€20,588
- Tangible fixed assets -€13,325
down €13,325 (-24.0%), from €55,630 to €42,305
of which Plant, machinery and equipment: -€8,673
- Cash -€5,743
down €5,743 (-55.8%), from €10,284 to €4,541
mainly Other debts (-€17,183) and Trade debts (-€12,093)
- Other debts -€17,183
down €17,183 (-31.5%), from €54,635 to €37,452
- Trade debts -€12,093
down €12,093 (-53.3%), from €22,688 to €10,594
- Debts after one year -€3,753
down €3,753 (-59.6%), from €6,301 to €2,548
- Current portion of long-term debt -€3,304
down €3,304 (-44.2%), from €7,474 to €4,170
- Profit (loss) carried forward +€1,721
up €1,721 (+7.2%), from -€23,863 to -€22,142
- Gross operating margin +€19,245
up €19,245 (+234%), from €8,215 to €27,460
- Staff costs +€10,663
new in 2025: €10,663
- Other operating charges +€1,705
up €1,705 (+346%), from €492 to €2,197
- Financial income +€1,222
up €1,222 (+6,109,350%), from €0 to €1,222
- Depreciation +€673
up €673 (+5.3%), from €12,652 to €13,325
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 | €91,534 | €55,771 | -€35,763 | -39.1% |
| Fixed assets | 21/28 | €55,787 | €42,462 | -€13,325 | -23.9% |
| Tangible fixed assets | 22/27 | €55,630 | €42,305 | -€13,325 | -24.0% |
| Land and buildings | 22 | €21,463 | €17,381 | -€4,082 | -19.0% |
| Plant, machinery and equipment | 23 | €32,288 | €23,615 | -€8,673 | -26.9% |
| Furniture and vehicles | 24 | €912 | €590 | -€322 | -35.3% |
| Other tangible fixed assets | 26 | €967 | €719 | -€248 | -25.6% |
| Financial fixed assets | 28 | €157 | €157 | = | 0.0% |
| Current assets | 29/58 | €35,747 | €13,309 | -€22,438 | -62.8% |
| Amounts receivable within one year | 40/41 | €25,463 | €8,725 | -€16,738 | -65.7% |
| Trade receivables | 40 | €21,075 | €487 | -€20,588 | -97.7% |
| Other amounts receivable | 41 | €4,388 | €8,237 | +€3,850 | +87.7% |
| Cash at bank and in hand | 54/58 | €10,284 | €4,541 | -€5,743 | -55.8% |
| Deferred charges and accrued income | 490/1 | - | €44 | +€44 | |
| Total equity and liabilities | 10/49 | €91,534 | €55,771 | -€35,763 | -39.1% |
| Equity | 10/15 | -€1,386 | €335 | +€1,721 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €12,476 | €12,476 | = | 0.0% |
| Distributable reserves | 133 | €12,476 | €12,476 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,863 | -€22,142 | +€1,721 | +7.2% |
| Amounts payable | 17/49 | €92,920 | €55,437 | -€37,484 | -40.3% |
| Amounts payable after more than one year | 17 | €6,301 | €2,548 | -€3,753 | -59.6% |
| Financial debts | 170/4 | €6,301 | €2,548 | -€3,753 | -59.6% |
| Amounts payable within one year | 42/48 | €86,619 | €52,889 | -€33,730 | -38.9% |
| Current portion of amounts payable after more than one year | 42 | €7,474 | €4,170 | -€3,304 | -44.2% |
| Trade debts | 44 | €22,688 | €10,594 | -€12,093 | -53.3% |
| Suppliers | 440/4 | €22,688 | €10,594 | -€12,093 | -53.3% |
| Taxes, remuneration and social security | 45 | €1,823 | €672 | -€1,150 | -63.1% |
| Taxes | 450/3 | €1,823 | €510 | -€1,312 | -72.0% |
| Remuneration and social security | 454/9 | - | €162 | +€162 | |
| Other amounts payable | 47/48 | €54,635 | €37,452 | -€17,183 | -31.5% |
| Remuneration, social security and pensions | 62 | - | €10,663 | +€10,663 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,652 | €13,325 | +€673 | +5.3% |
| Other operating charges | 640/8 | €492 | €2,197 | +€1,705 | +346% |
| Gross operating margin | 9900 | €8,215 | €27,460 | +€19,245 | +234% |
| Operating profit (loss) | 9901 | -€4,929 | €1,275 | +€6,204 | |
| Financial income | 75/76B | €0 | €1,222 | +€1,222 | +6,109,350% |
| Recurring financial income | 75 | €0 | €1,222 | +€1,222 | +6,109,350% |
| Financial charges | 65/66B | €942 | €453 | -€489 | -51.9% |
| Recurring financial charges | 65 | €942 | €453 | -€489 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,871 | €2,044 | +€7,915 | |
| Income taxes | 67/77 | €187 | €323 | +€136 | +72.8% |
| Profit (loss) for the period | 9904 | -€6,058 | €1,721 | +€7,779 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,058 | €1,721 | +€7,779 |
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 22 October 2026 via checked.be.