Studio l'Equipe: 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 l'Equipe
Largest movements
- Cash -€153,598
down €153,598 (-81.9%), from €187,613 to €34,015
mainly Investment in fixed assets (net) (-€351,457) and Net result for the year (-€222,073)
- Tangible fixed assets +€80,041
up €80,041 (+12.7%), from €631,025 to €711,066
of which Plant, machinery and equipment: +€85,818
- Receivables within one year -€77,425
down €77,425 (-8.5%), from €913,988 to €836,563
of which Other amounts receivable: -€49,434
- Stocks and contracts -€30,663
down €30,663 (-61.9%), from €49,519 to €18,856
of which Contracts in progress: -€26,150
- Profit (loss) carried forward -€222,073
down €222,073, from €134,803 to -€87,270
- Other debts +€59,000
up €59,000 (+5900.0%), from €1,000 to €60,000
- Trade debts -€39,905
down €39,905 (-13.4%), from €297,806 to €257,901
- Accrued charges and deferred income -€33,921
no longer reported in 2025 (was €33,921)
- Debts after one year +€26,008
up €26,008 (+14.0%), from €186,276 to €212,284
- Gross operating margin -€310,854
down €310,854 (-18.9%), from €1.6m to €1.3m
- Staff costs +€94,012
up €94,012 (+8.4%), from €1.1m to €1.2m
- Other operating charges +€59,806
up €59,806 (+6734.9%), from €888 to €60,694
- Depreciation +€26,233
up €26,233 (+10.7%), from €245,183 to €271,416
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 | €1,817,690 | €1,624,741 | -€192,949 | -10.6% |
| Fixed assets | 21/28 | €638,688 | €718,729 | +€80,041 | +12.5% |
| Tangible fixed assets | 22/27 | €631,025 | €711,066 | +€80,041 | +12.7% |
| Plant, machinery and equipment | 23 | €431,538 | €517,356 | +€85,818 | +19.9% |
| Furniture and vehicles | 24 | €7,371 | €12,529 | +€5,158 | +70.0% |
| Leasing and similar rights | 25 | €192,116 | €181,181 | -€10,935 | -5.7% |
| Financial fixed assets | 28 | €7,663 | €7,663 | = | 0.0% |
| Current assets | 29/58 | €1,179,002 | €906,012 | -€272,990 | -23.2% |
| Stocks and contracts in progress | 3 | €49,519 | €18,856 | -€30,663 | -61.9% |
| Stocks | 30/36 | €23,369 | €18,856 | -€4,513 | -19.3% |
| Contracts in progress | 37 | €26,150 | - | -€26,150 | |
| Amounts receivable within one year | 40/41 | €913,988 | €836,563 | -€77,425 | -8.5% |
| Trade receivables | 40 | €859,798 | €831,807 | -€27,991 | -3.3% |
| Other amounts receivable | 41 | €54,190 | €4,756 | -€49,434 | -91.2% |
| Cash at bank and in hand | 54/58 | €187,613 | €34,015 | -€153,598 | -81.9% |
| Deferred charges and accrued income | 490/1 | €27,882 | €16,578 | -€11,304 | -40.5% |
| Total equity and liabilities | 10/49 | €1,817,690 | €1,624,741 | -€192,949 | -10.6% |
| Equity | 10/15 | €1,008,865 | €782,482 | -€226,383 | -22.4% |
| Contributions | 10/11 | €585,227 | €585,227 | = | 0.0% |
| Capital | 10 | €585,227 | €585,227 | = | 0.0% |
| Issued capital | 100 | €585,227 | €585,227 | = | 0.0% |
| Reserves | 13 | €278,381 | €278,381 | = | 0.0% |
| Non-distributable reserves | 130/1 | €69,633 | €69,633 | = | 0.0% |
| Legal reserve | 130 | €12,261 | €12,261 | = | 0.0% |
| Other | 1319 | €57,372 | €57,372 | = | 0.0% |
| Distributable reserves | 133 | €208,748 | €208,748 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,803 | -€87,270 | -€222,073 | |
| Investment grants | 15 | €10,454 | €6,144 | -€4,310 | -41.2% |
| Amounts payable | 17/49 | €808,825 | €842,259 | +€33,434 | +4.1% |
| Amounts payable after more than one year | 17 | €186,276 | €212,284 | +€26,008 | +14.0% |
| Financial debts | 170/4 | €186,276 | €212,284 | +€26,008 | +14.0% |
| Amounts payable within one year | 42/48 | €588,628 | €629,975 | +€41,347 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €97,961 | €122,304 | +€24,343 | +24.8% |
| Trade debts | 44 | €297,806 | €257,901 | -€39,905 | -13.4% |
| Suppliers | 440/4 | €297,806 | €257,901 | -€39,905 | -13.4% |
| Taxes, remuneration and social security | 45 | €191,861 | €189,770 | -€2,091 | -1.1% |
| Taxes | 450/3 | €59,568 | €63,984 | +€4,416 | +7.4% |
| Remuneration and social security | 454/9 | €132,293 | €125,786 | -€6,507 | -4.9% |
| Other amounts payable | 47/48 | €1,000 | €60,000 | +€59,000 | +5900.0% |
| Accrued charges and deferred income | 492/3 | €33,921 | - | -€33,921 | |
| Remuneration, social security and pensions | 62 | €1,122,021 | €1,216,033 | +€94,012 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €245,183 | €271,416 | +€26,233 | +10.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,317 | +€3,317 | |
| Other operating charges | 640/8 | €888 | €60,694 | +€59,806 | +6734.9% |
| Non-recurring operating charges | 66A | €54,316 | - | -€54,316 | |
| Gross operating margin | 9900 | €1,648,294 | €1,337,440 | -€310,854 | -18.9% |
| Operating profit (loss) | 9901 | €225,886 | -€214,020 | -€439,906 | |
| Financial income | 75/76B | €15,635 | €6,152 | -€9,483 | -60.7% |
| Recurring financial income | 75 | €15,635 | €6,152 | -€9,483 | -60.7% |
| Financial charges | 65/66B | €19,832 | €14,205 | -€5,627 | -28.4% |
| Recurring financial charges | 65 | €19,832 | €14,205 | -€5,627 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €221,689 | -€222,073 | -€443,762 | |
| Profit (loss) for the period | 9904 | €221,689 | -€222,073 | -€443,762 | |
| Profit (loss) for the period to be appropriated | 9905 | €221,689 | -€222,073 | -€443,762 |
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 7 October 2026 via checked.be.