STUDIO L'EQUIPE WALLONIE: 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 L'EQUIPE WALLONIE
Largest movements
- Receivables within one year -€143,146
down €143,146 (-48.0%), from €298,262 to €155,116
of which Trade receivables: -€117,226
- Cash -€57,692
down €57,692 (-70.0%), from €82,464 to €24,772
mainly Trade debts (-€114,403) and Tax, wage and social debts (-€57,526)
- Tangible fixed assets -€43,877
down €43,877 (-17.5%), from €251,344 to €207,467
of which Plant, machinery and equipment: -€41,584
- Trade debts -€114,403
down €114,403 (-59.2%), from €193,387 to €78,984
- Tax, wage and social debts -€57,526
down €57,526 (-46.3%), from €124,271 to €66,745
of which Taxes: -€40,728
- Other debts -€46,491
no longer reported in 2025 (was €46,491)
- Debts after one year -€38,166
down €38,166 (-63.8%), from €59,807 to €21,641
- Profit (loss) carried forward +€10,222
up €10,222 (+35.5%), from €28,766 to €38,988
- Financial income -€150,996
down €150,996 (-100.0%), from €150,997 to €1
of which Non-recurring financial income: -€140,057
- Gross operating margin +€41,973
up €41,973 (+12.6%), from €334,280 to €376,253
- Staff costs -€34,457
down €34,457 (-11.2%), from €308,298 to €273,841
- Taxes -€17,746
down €17,746, from €15,616 to -€2,130
- Depreciation +€5,555
up €5,555 (+6.6%), from €83,915 to €89,470
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 | €633,874 | €389,635 | -€244,239 | -38.5% |
| Fixed assets | 21/28 | €251,594 | €207,717 | -€43,877 | -17.4% |
| Tangible fixed assets | 22/27 | €251,344 | €207,467 | -€43,877 | -17.5% |
| Plant, machinery and equipment | 23 | €232,795 | €191,211 | -€41,584 | -17.9% |
| Furniture and vehicles | 24 | €847 | €616 | -€231 | -27.3% |
| Other tangible fixed assets | 26 | €17,702 | €15,640 | -€2,062 | -11.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €382,280 | €181,918 | -€200,362 | -52.4% |
| Amounts receivable within one year | 40/41 | €298,262 | €155,116 | -€143,146 | -48.0% |
| Trade receivables | 40 | €272,342 | €155,116 | -€117,226 | -43.0% |
| Other amounts receivable | 41 | €25,920 | - | -€25,920 | |
| Current investments | 50/53 | €108 | - | -€108 | |
| Cash at bank and in hand | 54/58 | €82,464 | €24,772 | -€57,692 | -70.0% |
| Deferred charges and accrued income | 490/1 | €1,446 | €2,030 | +€584 | +40.4% |
| Total equity and liabilities | 10/49 | €633,874 | €389,635 | -€244,239 | -38.5% |
| Equity | 10/15 | €173,339 | €184,099 | +€10,760 | +6.2% |
| Contributions | 10/11 | €141,000 | €141,000 | = | 0.0% |
| Capital | 10 | €141,000 | €141,000 | = | 0.0% |
| Issued capital | 100 | €141,000 | €141,000 | = | 0.0% |
| Reserves | 13 | €3,573 | €4,111 | +€538 | +15.1% |
| Non-distributable reserves | 130/1 | €3,573 | €4,111 | +€538 | +15.1% |
| Legal reserve | 130 | €3,573 | €4,111 | +€538 | +15.1% |
| Profit (loss) carried forward | 14 | €28,766 | €38,988 | +€10,222 | +35.5% |
| Amounts payable | 17/49 | €460,535 | €205,536 | -€254,999 | -55.4% |
| Amounts payable after more than one year | 17 | €59,807 | €21,641 | -€38,166 | -63.8% |
| Financial debts | 170/4 | €59,807 | €21,641 | -€38,166 | -63.8% |
| Amounts payable within one year | 42/48 | €400,728 | €183,895 | -€216,833 | -54.1% |
| Current portion of amounts payable after more than one year | 42 | €36,579 | €38,166 | +€1,587 | +4.3% |
| Trade debts | 44 | €193,387 | €78,984 | -€114,403 | -59.2% |
| Suppliers | 440/4 | €193,387 | €78,984 | -€114,403 | -59.2% |
| Taxes, remuneration and social security | 45 | €124,271 | €66,745 | -€57,526 | -46.3% |
| Taxes | 450/3 | €85,658 | €44,930 | -€40,728 | -47.5% |
| Remuneration and social security | 454/9 | €38,613 | €21,815 | -€16,798 | -43.5% |
| Other amounts payable | 47/48 | €46,491 | - | -€46,491 | |
| Remuneration, social security and pensions | 62 | €308,298 | €273,841 | -€34,457 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,915 | €89,470 | +€5,555 | +6.6% |
| Other operating charges | 640/8 | €679 | €482 | -€197 | -29.0% |
| Gross operating margin | 9900 | €334,280 | €376,253 | +€41,973 | +12.6% |
| Operating profit (loss) | 9901 | -€58,612 | €12,460 | +€71,072 | |
| Financial income | 75/76B | €150,997 | €1 | -€150,996 | -100.0% |
| Recurring financial income | 75 | €10,940 | €1 | -€10,939 | -100.0% |
| Non-recurring financial income | 76B | €140,057 | - | -€140,057 | |
| Financial charges | 65/66B | €5,301 | €3,831 | -€1,470 | -27.7% |
| Recurring financial charges | 65 | €5,301 | €3,831 | -€1,470 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €87,084 | €8,630 | -€78,454 | -90.1% |
| Income taxes | 67/77 | €15,616 | -€2,130 | -€17,746 | |
| Profit (loss) for the period | 9904 | €71,468 | €10,760 | -€60,708 | -84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,468 | €10,760 | -€60,708 | -84.9% |
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 27 October 2026 via checked.be.