STUDIO LEGALE 51: 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 LEGALE 51
Largest movements
- Cash +€24,021
up €24,021 (+13.9%), from €172,254 to €196,275
mainly Net result for the year (+€44,917) and Receivables within one year (+€20,971)
- Receivables within one year -€20,971
down €20,971 (-34.8%), from €60,256 to €39,285
of which Trade receivables: -€16,694
- Tangible fixed assets -€7,057
down €7,057 (-40.5%), from €17,421 to €10,363
- Intangible fixed assets -€6,887
down €6,887 (-54.5%), from €12,626 to €5,739
- Debts after one year -€7,528
down €7,528 (-62.6%), from €12,033 to €4,505
- Other debts -€5,622
down €5,622 (-2.7%), from €207,659 to €202,037
- Gross operating margin -€6,534
down €6,534 (-8.0%), from €81,323 to €74,789
- Taxes -€1,447
down €1,447 (-10.3%), from €14,008 to €12,560
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €264,397 | €253,603 | -€10,794 | -4.1% |
| Fixed assets | 21/28 | €30,046 | €16,102 | -€13,944 | -46.4% |
| Intangible fixed assets | 21 | €12,626 | €5,739 | -€6,887 | -54.5% |
| Tangible fixed assets | 22/27 | €17,421 | €10,363 | -€7,057 | -40.5% |
| Furniture and vehicles | 24 | €17,421 | €10,363 | -€7,057 | -40.5% |
| Current assets | 29/58 | €234,351 | €237,501 | +€3,150 | +1.3% |
| Amounts receivable within one year | 40/41 | €60,256 | €39,285 | -€20,971 | -34.8% |
| Trade receivables | 40 | €55,539 | €38,845 | -€16,694 | -30.1% |
| Other amounts receivable | 41 | €4,717 | €440 | -€4,278 | -90.7% |
| Cash at bank and in hand | 54/58 | €172,254 | €196,275 | +€24,021 | +13.9% |
| Deferred charges and accrued income | 490/1 | €1,841 | €1,941 | +€100 | +5.4% |
| Total equity and liabilities | 10/49 | €264,397 | €253,603 | -€10,794 | -4.1% |
| Equity | 10/15 | €19,054 | €18,972 | -€83 | -0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €454 | €372 | -€83 | -18.2% |
| Distributable reserves | 133 | €454 | €372 | -€83 | -18.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €245,343 | €234,631 | -€10,712 | -4.4% |
| Amounts payable after more than one year | 17 | €12,033 | €4,505 | -€7,528 | -62.6% |
| Financial debts | 170/4 | €12,033 | €4,505 | -€7,528 | -62.6% |
| Amounts payable within one year | 42/48 | €232,510 | €228,877 | -€3,634 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €7,290 | €7,528 | +€238 | +3.3% |
| Trade debts | 44 | €938 | €1,760 | +€822 | +87.7% |
| Suppliers | 440/4 | €938 | €1,760 | +€822 | +87.7% |
| Taxes, remuneration and social security | 45 | €16,624 | €17,552 | +€928 | +5.6% |
| Taxes | 450/3 | €14,249 | €15,177 | +€928 | +6.5% |
| Remuneration and social security | 454/9 | €2,375 | €2,375 | = | 0.0% |
| Other amounts payable | 47/48 | €207,659 | €202,037 | -€5,622 | -2.7% |
| Accrued charges and deferred income | 492/3 | €800 | €1,250 | +€450 | +56.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,944 | €13,944 | = | 0.0% |
| Other operating charges | 640/8 | €1,602 | €1,514 | -€88 | -5.5% |
| Gross operating margin | 9900 | €81,323 | €74,789 | -€6,534 | -8.0% |
| Operating profit (loss) | 9901 | €65,777 | €59,331 | -€6,446 | -9.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,277 | €1,853 | -€424 | -18.6% |
| Recurring financial charges | 65 | €2,277 | €1,853 | -€424 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €63,500 | €57,478 | -€6,022 | -9.5% |
| Income taxes | 67/77 | €14,008 | €12,560 | -€1,447 | -10.3% |
| Profit (loss) for the period | 9904 | €49,492 | €44,917 | -€4,575 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,492 | €44,917 | -€4,575 | -9.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.