STUDIO LOOK: 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 LOOK
Largest movements
- Tangible fixed assets -€12,051
down €12,051 (-6.3%), from €192,453 to €180,402
of which Land and buildings: -€12,438
- Stocks and contracts +€6,579
up €6,579 (+30.5%), from €21,558 to €28,137
- Cash -€4,440
down €4,440 (-45.8%), from €9,696 to €5,256
mainly Tax, wage and social debts (-€15,865) and Debts after one year (-€13,754)
- Receivables within one year +€2,360
up €2,360 (+83.6%), from €2,823 to €5,184
of which Other amounts receivable: +€2,122
- Trade debts +€18,637
up €18,637 (+428.7%), from €4,347 to €22,984
- Tax, wage and social debts -€15,865
down €15,865 (-76.0%), from €20,862 to €4,998
of which Taxes: -€15,861
- Debts after one year -€13,754
down €13,754 (-9.1%), from €151,903 to €138,149
- Gross operating margin -€59,725
down €59,725 (-30.5%), from €195,643 to €135,918
- Staff costs -€55,621
down €55,621 (-34.7%), from €160,473 to €104,852
- Financial income -€6,530
no longer reported in 2025 (was €6,530)
of which Financial income: -€6,530
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 | €226,654 | €219,102 | -€7,551 | -3.3% |
| Fixed assets | 21/28 | €192,577 | €180,526 | -€12,051 | -6.3% |
| Tangible fixed assets | 22/27 | €192,453 | €180,402 | -€12,051 | -6.3% |
| Land and buildings | 22 | €161,698 | €149,259 | -€12,438 | -7.7% |
| Plant, machinery and equipment | 23 | €20,479 | €20,572 | +€93 | +0.5% |
| Furniture and vehicles | 24 | €10,276 | €10,570 | +€295 | +2.9% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €34,077 | €38,576 | +€4,499 | +13.2% |
| Stocks and contracts in progress | 3 | €21,558 | €28,137 | +€6,579 | +30.5% |
| Stocks | 30/36 | €21,558 | €28,137 | +€6,579 | +30.5% |
| Amounts receivable within one year | 40/41 | €2,823 | €5,184 | +€2,360 | +83.6% |
| Trade receivables | 40 | €2,823 | €3,062 | +€239 | +8.5% |
| Other amounts receivable | 41 | - | €2,122 | +€2,122 | |
| Cash at bank and in hand | 54/58 | €9,696 | €5,256 | -€4,440 | -45.8% |
| Total equity and liabilities | 10/49 | €226,654 | €219,102 | -€7,551 | -3.3% |
| Equity | 10/15 | €34,194 | €36,855 | +€2,661 | +7.8% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €4,773 | €5,855 | +€1,082 | +22.7% |
| Distributable reserves | 133 | €4,773 | €5,855 | +€1,082 | +22.7% |
| Profit (loss) carried forward | 14 | -€1,579 | - | +€1,579 | |
| Amounts payable | 17/49 | €192,459 | €182,247 | -€10,212 | -5.3% |
| Amounts payable after more than one year | 17 | €151,903 | €138,149 | -€13,754 | -9.1% |
| Financial debts | 170/4 | €151,903 | €138,149 | -€13,754 | -9.1% |
| Amounts payable within one year | 42/48 | €40,556 | €44,098 | +€3,542 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €15,346 | €16,116 | +€770 | +5.0% |
| Trade debts | 44 | €4,347 | €22,984 | +€18,637 | +428.7% |
| Suppliers | 440/4 | €4,347 | €22,984 | +€18,637 | +428.7% |
| Taxes, remuneration and social security | 45 | €20,862 | €4,998 | -€15,865 | -76.0% |
| Taxes | 450/3 | €16,035 | €175 | -€15,861 | -98.9% |
| Remuneration and social security | 454/9 | €4,827 | €4,823 | -€4 | -0.1% |
| Remuneration, social security and pensions | 62 | €160,473 | €104,852 | -€55,621 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,092 | €19,843 | +€751 | +3.9% |
| Other operating charges | 640/8 | €814 | €1,133 | +€320 | +39.3% |
| Gross operating margin | 9900 | €195,643 | €135,918 | -€59,725 | -30.5% |
| Operating profit (loss) | 9901 | €15,264 | €10,089 | -€5,175 | -33.9% |
| Financial income | 75/76B | €6,530 | - | -€6,530 | |
| Recurring financial income | 75 | €6,530 | - | -€6,530 | |
| Non-recurring financial income | 76B | €6,530 | - | -€6,530 | |
| Financial charges | 65/66B | €8,448 | €7,429 | -€1,019 | -12.1% |
| Recurring financial charges | 65 | €8,448 | €7,429 | -€1,019 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €13,346 | €2,661 | -€10,685 | -80.1% |
| Income taxes | 67/77 | €258 | - | -€258 | |
| Profit (loss) for the period | 9904 | €13,088 | €2,661 | -€10,428 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,088 | €2,661 | -€10,428 | -79.7% |
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 5 October 2026 via checked.be.