Studio Leeman: 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 Leeman
Largest movements
- Cash +€27,572
up €27,572 (+29.2%), from €94,456 to €122,029
mainly Net result for the year (+€28,111) and Receivables within one year (+€11,714)
- Receivables within one year -€11,714
down €11,714 (-67.7%), from €17,296 to €5,582
of which Trade receivables: -€11,715
- Tangible fixed assets -€3,502
down €3,502 (-11.7%), from €29,846 to €26,343
of which Other tangible fixed assets: -€3,401
- Reserves +€20,097
up €20,097 (+23.6%), from €85,177 to €105,273
- Debts after one year -€5,568
down €5,568 (-34.4%), from €16,193 to €10,624
- Tax, wage and social debts -€5,267
down €5,267 (-38.4%), from €13,725 to €8,459
- Other debts +€2,353
up €2,353 (+21.8%), from €10,790 to €13,144
- Gross operating margin -€17,759
down €17,759 (-28.3%), from €62,773 to €45,014
- Taxes -€11,931
down €11,931 (-74.0%), from €16,117 to €4,186
- Other operating charges +€1,844
up €1,844 (+75.6%), from €2,439 to €4,283
- Financial charges -€935
down €935 (-23.0%), from €4,060 to €3,126
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 | €142,367 | €154,892 | +€12,525 | +8.8% |
| Fixed assets | 21/28 | €29,846 | €26,343 | -€3,502 | -11.7% |
| Tangible fixed assets | 22/27 | €29,846 | €26,343 | -€3,502 | -11.7% |
| Furniture and vehicles | 24 | €2,769 | €2,668 | -€101 | -3.6% |
| Other tangible fixed assets | 26 | €27,076 | €23,675 | -€3,401 | -12.6% |
| Current assets | 29/58 | €112,521 | €128,548 | +€16,027 | +14.2% |
| Amounts receivable within one year | 40/41 | €17,296 | €5,582 | -€11,714 | -67.7% |
| Trade receivables | 40 | €17,278 | €5,563 | -€11,715 | -67.8% |
| Other amounts receivable | 41 | €18 | €19 | +€1 | +3.4% |
| Cash at bank and in hand | 54/58 | €94,456 | €122,029 | +€27,572 | +29.2% |
| Deferred charges and accrued income | 490/1 | €769 | €938 | +€169 | +21.9% |
| Total equity and liabilities | 10/49 | €142,367 | €154,892 | +€12,525 | +8.8% |
| Equity | 10/15 | €92,974 | €113,071 | +€20,097 | +21.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,177 | €105,273 | +€20,097 | +23.6% |
| Distributable reserves | 133 | €85,177 | €105,273 | +€20,097 | +23.6% |
| Profit (loss) carried forward | 14 | €1,598 | €1,598 | = | 0.0% |
| Amounts payable | 17/49 | €49,393 | €41,821 | -€7,572 | -15.3% |
| Amounts payable after more than one year | 17 | €16,193 | €10,624 | -€5,568 | -34.4% |
| Financial debts | 170/4 | €16,193 | €10,624 | -€5,568 | -34.4% |
| Amounts payable within one year | 42/48 | €33,200 | €31,197 | -€2,004 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €6,409 | €6,573 | +€164 | +2.6% |
| Trade debts | 44 | €2,275 | €3,021 | +€745 | +32.8% |
| Suppliers | 440/4 | €2,275 | €3,021 | +€745 | +32.8% |
| Taxes, remuneration and social security | 45 | €13,725 | €8,459 | -€5,267 | -38.4% |
| Taxes | 450/3 | €13,725 | €8,459 | -€5,267 | -38.4% |
| Other amounts payable | 47/48 | €10,790 | €13,144 | +€2,353 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,786 | €5,308 | +€522 | +10.9% |
| Other operating charges | 640/8 | €2,439 | €4,283 | +€1,844 | +75.6% |
| Gross operating margin | 9900 | €62,773 | €45,014 | -€17,759 | -28.3% |
| Operating profit (loss) | 9901 | €55,548 | €35,423 | -€20,125 | -36.2% |
| Financial income | 75/76B | €389 | - | -€389 | |
| Recurring financial income | 75 | €389 | - | -€389 | |
| Financial charges | 65/66B | €4,060 | €3,126 | -€935 | -23.0% |
| Recurring financial charges | 65 | €4,060 | €3,126 | -€935 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €51,877 | €32,297 | -€19,579 | -37.7% |
| Income taxes | 67/77 | €16,117 | €4,186 | -€11,931 | -74.0% |
| Profit (loss) for the period | 9904 | €35,760 | €28,111 | -€7,648 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,760 | €28,111 | -€7,648 | -21.4% |
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 4 October 2026 via checked.be.