STUDIO KAROLIN: 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 KAROLIN
Largest movements
- Stocks and contracts +€127,165
up €127,165 (+254%), from €50,085 to €177,250
- Tangible fixed assets -€10,165
down €10,165 (-11.6%), from €87,538 to €77,373
of which Furniture and vehicles: -€5,995
- Cash -€9,711
down €9,711 (-21.1%), from €46,077 to €36,366
mainly Stocks and contracts (-€127,165) and Receivables within one year (-€7,723)
- Receivables within one year +€7,723
up €7,723 (+38.4%), from €20,112 to €27,835
of which Trade receivables: +€4,033
- Debts after one year +€67,221
up €67,221 (+187%), from €36,000 to €103,221
- Current portion of long-term debt +€19,007
new in 2025: €19,007
- Other debts +€15,127
up €15,127 (+11.0%), from €137,909 to €153,035
- Trade debts +€12,187
up €12,187 (+317%), from €3,840 to €16,027
- Gross operating margin +€20,833
up €20,833 (+39.4%), from €52,815 to €73,648
- Financial charges +€15,218
up €15,218 (+279%), from €5,450 to €20,668
- Staff costs +€5,506
up €5,506 (+19.1%), from €28,849 to €34,355
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 | €203,813 | €318,825 | +€115,012 | +56.4% |
| Fixed assets | 21/28 | €87,538 | €77,373 | -€10,165 | -11.6% |
| Tangible fixed assets | 22/27 | €87,538 | €77,373 | -€10,165 | -11.6% |
| Plant, machinery and equipment | 23 | €1,482 | €2,779 | +€1,298 | +87.6% |
| Furniture and vehicles | 24 | €39,020 | €33,025 | -€5,995 | -15.4% |
| Other tangible fixed assets | 26 | €47,037 | €41,569 | -€5,467 | -11.6% |
| Current assets | 29/58 | €116,274 | €241,451 | +€125,177 | +108% |
| Stocks and contracts in progress | 3 | €50,085 | €177,250 | +€127,165 | +254% |
| Stocks | 30/36 | €50,085 | €177,250 | +€127,165 | +254% |
| Amounts receivable within one year | 40/41 | €20,112 | €27,835 | +€7,723 | +38.4% |
| Trade receivables | 40 | €18,934 | €22,967 | +€4,033 | +21.3% |
| Other amounts receivable | 41 | €1,178 | €4,868 | +€3,690 | +313% |
| Cash at bank and in hand | 54/58 | €46,077 | €36,366 | -€9,711 | -21.1% |
| Total equity and liabilities | 10/49 | €203,813 | €318,825 | +€115,012 | +56.4% |
| Equity | 10/15 | €15,130 | €17,784 | +€2,654 | +17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40 | €40 | = | 0.0% |
| Distributable reserves | 133 | €40 | €40 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,510 | -€856 | +€2,654 | +75.6% |
| Amounts payable | 17/49 | €188,683 | €301,041 | +€112,358 | +59.5% |
| Amounts payable after more than one year | 17 | €36,000 | €103,221 | +€67,221 | +187% |
| Financial debts | 170/4 | €36,000 | €103,221 | +€67,221 | +187% |
| Amounts payable within one year | 42/48 | €152,683 | €197,819 | +€45,136 | +29.6% |
| Current portion of amounts payable after more than one year | 42 | - | €19,007 | +€19,007 | |
| Financial debts | 43 | €293 | €1,605 | +€1,311 | +447% |
| Credit institutions | 430/8 | €293 | €1,605 | +€1,311 | +447% |
| Trade debts | 44 | €3,840 | €16,027 | +€12,187 | +317% |
| Suppliers | 440/4 | €3,840 | €16,027 | +€12,187 | +317% |
| Taxes, remuneration and social security | 45 | €10,641 | €8,145 | -€2,496 | -23.5% |
| Taxes | 450/3 | €9,809 | €3,875 | -€5,935 | -60.5% |
| Remuneration and social security | 454/9 | €832 | €4,271 | +€3,439 | +414% |
| Other amounts payable | 47/48 | €137,909 | €153,035 | +€15,127 | +11.0% |
| Non-recurring operating income | 76A | €634 | - | -€634 | |
| Remuneration, social security and pensions | 62 | €28,849 | €34,355 | +€5,506 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,846 | €14,228 | +€381 | +2.8% |
| Other operating charges | 640/8 | €1,040 | €1,444 | +€404 | +38.9% |
| Non-recurring operating charges | 66A | €1,196 | - | -€1,196 | |
| Gross operating margin | 9900 | €52,815 | €73,648 | +€20,833 | +39.4% |
| Operating profit (loss) | 9901 | €7,884 | €23,622 | +€15,738 | +200% |
| Financial income | 75/76B | €951 | €1,525 | +€574 | +60.4% |
| Recurring financial income | 75 | €951 | €1,525 | +€574 | +60.4% |
| Financial charges | 65/66B | €5,450 | €20,668 | +€15,218 | +279% |
| Recurring financial charges | 65 | €5,450 | €20,668 | +€15,218 | +279% |
| Profit (loss) for the period before taxes | 9903 | €3,384 | €4,479 | +€1,094 | +32.3% |
| Income taxes | 67/77 | €1,205 | €1,824 | +€620 | +51.4% |
| Profit (loss) for the period | 9904 | €2,180 | €2,654 | +€474 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,180 | €2,654 | +€474 | +21.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.