Studio Maak: 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 Maak
Largest movements
- Cash -€22,277
down €22,277 (-42.9%), from €51,920 to €29,642
mainly Contributions, distributions and other (-€75,593) and Debts after one year (-€12,238)
- Tangible fixed assets -€7,465
down €7,465 (-11.4%), from €65,596 to €58,130
of which Other tangible fixed assets: -€10,926
- Deferred charges and accrued income +€3,766
up €3,766 (+146.8%), from €2,566 to €6,331
- Debts after one year -€12,238
down €12,238 (-32.7%), from €37,378 to €25,140
- Other debts -€7,784
down €7,784 (-14.4%), from €54,199 to €46,415
- Trade debts -€4,681
down €4,681 (-76.0%), from €6,159 to €1,478
- Tax, wage and social debts -€1,434
down €1,434 (-6.8%), from €20,974 to €19,540
- Depreciation +€8,792
up €8,792 (+133.3%), from €6,596 to €15,388
- Gross operating margin -€8,409
down €8,409 (-6.7%), from €124,689 to €116,280
- Taxes -€3,886
down €3,886 (-15.7%), from €24,720 to €20,833
- Financial charges +€1,566
up €1,566 (+84.6%), from €1,852 to €3,419
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 | €141,754 | €115,724 | -€26,031 | -18.4% |
| Fixed assets | 21/28 | €65,596 | €58,130 | -€7,465 | -11.4% |
| Tangible fixed assets | 22/27 | €65,596 | €58,130 | -€7,465 | -11.4% |
| Plant, machinery and equipment | 23 | - | €1,857 | +€1,857 | |
| Furniture and vehicles | 24 | €19 | €1,623 | +€1,604 | +8241.7% |
| Other tangible fixed assets | 26 | €65,576 | €54,650 | -€10,926 | -16.7% |
| Current assets | 29/58 | €76,159 | €57,594 | -€18,565 | -24.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €21,674 | €21,620 | -€54 | -0.2% |
| Trade receivables | 40 | €20,328 | €21,453 | +€1,125 | +5.5% |
| Other amounts receivable | 41 | €1,346 | €167 | -€1,179 | -87.6% |
| Cash at bank and in hand | 54/58 | €51,920 | €29,642 | -€22,277 | -42.9% |
| Deferred charges and accrued income | 490/1 | €2,566 | €6,331 | +€3,766 | +146.8% |
| Total equity and liabilities | 10/49 | €141,754 | €115,724 | -€26,031 | -18.4% |
| Equity | 10/15 | €2,500 | €2,500 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €139,254 | €113,224 | -€26,031 | -18.7% |
| Amounts payable after more than one year | 17 | €37,378 | €25,140 | -€12,238 | -32.7% |
| Financial debts | 170/4 | €37,378 | €25,140 | -€12,238 | -32.7% |
| Amounts payable within one year | 42/48 | €101,876 | €88,084 | -€13,793 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €20,200 | €20,651 | +€451 | +2.2% |
| Financial debts | 43 | €344 | €0 | -€344 | -100.0% |
| Credit institutions | 430/8 | €344 | €0 | -€344 | -100.0% |
| Trade debts | 44 | €6,159 | €1,478 | -€4,681 | -76.0% |
| Suppliers | 440/4 | €6,159 | €1,478 | -€4,681 | -76.0% |
| Taxes, remuneration and social security | 45 | €20,974 | €19,540 | -€1,434 | -6.8% |
| Taxes | 450/3 | €20,974 | €19,540 | -€1,434 | -6.8% |
| Other amounts payable | 47/48 | €54,199 | €46,415 | -€7,784 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,596 | €15,388 | +€8,792 | +133.3% |
| Other operating charges | 640/8 | €1,235 | €1,163 | -€71 | -5.8% |
| Gross operating margin | 9900 | €124,689 | €116,280 | -€8,409 | -6.7% |
| Operating profit (loss) | 9901 | €116,859 | €99,729 | -€17,130 | -14.7% |
| Financial income | 75/76B | €1,355 | €116 | -€1,239 | -91.4% |
| Recurring financial income | 75 | €1,355 | €116 | -€1,239 | -91.4% |
| Financial charges | 65/66B | €1,852 | €3,419 | +€1,566 | +84.6% |
| Recurring financial charges | 65 | €1,852 | €3,419 | +€1,566 | +84.6% |
| Profit (loss) for the period before taxes | 9903 | €116,361 | €96,427 | -€19,934 | -17.1% |
| Income taxes | 67/77 | €24,720 | €20,833 | -€3,886 | -15.7% |
| Profit (loss) for the period | 9904 | €91,641 | €75,593 | -€16,048 | -17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €91,641 | €75,593 | -€16,048 | -17.5% |
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 1 October 2026 via checked.be.