STUDIO M: 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 M
Largest movements
- Tangible fixed assets +€12,320
up €12,320 (+99.1%), from €12,426 to €24,747
of which Furniture and vehicles: +€13,696
- Receivables within one year +€6,774
up €6,774 (+11.3%), from €59,791 to €66,565
of which Trade receivables: +€13,157
- Deferred charges and accrued income +€5,754
new in 2025: €5,754
- Profit (loss) carried forward +€24,267
up €24,267 (+32.5%), from €74,653 to €98,920
- Tax, wage and social debts +€1,048
up €1,048 (+238%), from €440 to €1,489
- Trade debts -€1,047
down €1,047 (-42.3%), from €2,475 to €1,428
- Gross operating margin -€23,402
down €23,402 (-38.2%), from €61,239 to €37,837
- Taxes -€5,700
down €5,700 (-36.0%), from €15,850 to €10,150
- Depreciation +€824
up €824 (+44.4%), from €1,855 to €2,680
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 | €79,069 | €103,379 | +€24,311 | +30.7% |
| Fixed assets | 21/28 | €12,426 | €24,747 | +€12,320 | +99.1% |
| Tangible fixed assets | 22/27 | €12,426 | €24,747 | +€12,320 | +99.1% |
| Plant, machinery and equipment | 23 | €11,807 | €10,431 | -€1,376 | -11.7% |
| Furniture and vehicles | 24 | €620 | €14,316 | +€13,696 | +2,210% |
| Current assets | 29/58 | €66,642 | €78,632 | +€11,990 | +18.0% |
| Amounts receivable within one year | 40/41 | €59,791 | €66,565 | +€6,774 | +11.3% |
| Trade receivables | 40 | €3,755 | €16,912 | +€13,157 | +350% |
| Other amounts receivable | 41 | €56,036 | €49,653 | -€6,383 | -11.4% |
| Cash at bank and in hand | 54/58 | €6,851 | €6,314 | -€538 | -7.8% |
| Deferred charges and accrued income | 490/1 | - | €5,754 | +€5,754 | |
| Total equity and liabilities | 10/49 | €79,069 | €103,379 | +€24,311 | +30.7% |
| Equity | 10/15 | €76,153 | €100,420 | +€24,267 | +31.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,653 | €98,920 | +€24,267 | +32.5% |
| Amounts payable | 17/49 | €2,916 | €2,959 | +€43 | +1.5% |
| Amounts payable within one year | 42/48 | €2,916 | €2,959 | +€43 | +1.5% |
| Financial debts | 43 | - | €42 | +€42 | |
| Credit institutions | 430/8 | - | €42 | +€42 | |
| Trade debts | 44 | €2,475 | €1,428 | -€1,047 | -42.3% |
| Suppliers | 440/4 | €2,475 | €1,428 | -€1,047 | -42.3% |
| Taxes, remuneration and social security | 45 | €440 | €1,489 | +€1,048 | +238% |
| Taxes | 450/3 | €440 | €1,489 | +€1,048 | +238% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,855 | €2,680 | +€824 | +44.4% |
| Other operating charges | 640/8 | €630 | €537 | -€93 | -14.8% |
| Gross operating margin | 9900 | €61,239 | €37,837 | -€23,402 | -38.2% |
| Operating profit (loss) | 9901 | €58,754 | €34,621 | -€24,133 | -41.1% |
| Financial charges | 65/66B | €252 | €203 | -€49 | -19.5% |
| Recurring financial charges | 65 | €207 | €203 | -€4 | -2.0% |
| Non-recurring financial charges | 66B | €45 | - | -€45 | |
| Profit (loss) for the period before taxes | 9903 | €58,502 | €34,417 | -€24,084 | -41.2% |
| Income taxes | 67/77 | €15,850 | €10,150 | -€5,700 | -36.0% |
| Profit (loss) for the period | 9904 | €42,652 | €24,267 | -€18,385 | -43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,652 | €24,267 | -€18,385 | -43.1% |
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 28 October 2026 via checked.be.