Studio Majus: 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 Majus
Largest movements
- Cash +€51,956
up €51,956 (+90.6%), from €57,376 to €109,332
mainly Net result for the year (+€67,878) and Depreciation (+€15,387)
- Tangible fixed assets -€14,987
down €14,987 (-39.5%), from €37,960 to €22,973
of which Furniture and vehicles: -€14,787
- Receivables within one year +€7,801
up €7,801 (+36.9%), from €21,167 to €28,968
of which Other amounts receivable: +€7,374
- Reserves +€66,212
up €66,212 (+160.5%), from €41,246 to €107,458
- Other debts -€27,748
down €27,748 (-68.0%), from €40,812 to €13,064
- Tax, wage and social debts +€9,554
up €9,554 (+45.3%), from €21,084 to €30,638
- Debts after one year -€5,127
down €5,127 (-51.1%), from €10,036 to €4,908
- Trade debts +€2,492
up €2,492 (+441.5%), from €564 to €3,056
- Gross operating margin +€31,895
up €31,895 (+43.0%), from €74,162 to €106,057
- Depreciation +€3,847
up €3,847 (+33.3%), from €11,540 to €15,387
- Taxes +€1,768
up €1,768 (+10.7%), from €16,479 to €18,247
- Financial charges +€1,140
up €1,140 (+40.1%), from €2,844 to €3,984
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 | €122,751 | €167,178 | +€44,427 | +36.2% |
| Fixed assets | 21/28 | €41,660 | €26,273 | -€15,387 | -36.9% |
| Intangible fixed assets | 21 | €3,700 | €3,300 | -€400 | -10.8% |
| Tangible fixed assets | 22/27 | €37,960 | €22,973 | -€14,987 | -39.5% |
| Plant, machinery and equipment | 23 | €450 | €250 | -€200 | -44.5% |
| Furniture and vehicles | 24 | €37,510 | €22,723 | -€14,787 | -39.4% |
| Current assets | 29/58 | €81,091 | €140,905 | +€59,814 | +73.8% |
| Amounts receivable within one year | 40/41 | €21,167 | €28,968 | +€7,801 | +36.9% |
| Trade receivables | 40 | €21,167 | €21,594 | +€427 | +2.0% |
| Other amounts receivable | 41 | - | €7,374 | +€7,374 | |
| Cash at bank and in hand | 54/58 | €57,376 | €109,332 | +€51,956 | +90.6% |
| Deferred charges and accrued income | 490/1 | €2,548 | €2,606 | +€57 | +2.3% |
| Total equity and liabilities | 10/49 | €122,751 | €167,178 | +€44,427 | +36.2% |
| Equity | 10/15 | €42,446 | €108,658 | +€66,212 | +156.0% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €41,246 | €107,458 | +€66,212 | +160.5% |
| Distributable reserves | 133 | €41,246 | €107,458 | +€66,212 | +160.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €80,305 | €58,520 | -€21,785 | -27.1% |
| Amounts payable after more than one year | 17 | €10,036 | €4,908 | -€5,127 | -51.1% |
| Financial debts | 170/4 | €10,036 | €4,908 | -€5,127 | -51.1% |
| Amounts payable within one year | 42/48 | €67,743 | €51,885 | -€15,858 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €5,283 | €5,127 | -€155 | -2.9% |
| Trade debts | 44 | €564 | €3,056 | +€2,492 | +441.5% |
| Suppliers | 440/4 | €564 | €3,056 | +€2,492 | +441.5% |
| Taxes, remuneration and social security | 45 | €21,084 | €30,638 | +€9,554 | +45.3% |
| Taxes | 450/3 | €21,084 | €30,638 | +€9,554 | +45.3% |
| Other amounts payable | 47/48 | €40,812 | €13,064 | -€27,748 | -68.0% |
| Accrued charges and deferred income | 492/3 | €2,527 | €1,727 | -€800 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,540 | €15,387 | +€3,847 | +33.3% |
| Other operating charges | 640/8 | €387 | €693 | +€305 | +78.8% |
| Gross operating margin | 9900 | €74,162 | €106,057 | +€31,895 | +43.0% |
| Operating profit (loss) | 9901 | €62,235 | €89,978 | +€27,744 | +44.6% |
| Financial income | 75/76B | €0 | €131 | +€131 | +435466.7% |
| Recurring financial income | 75 | €0 | €131 | +€131 | +435466.7% |
| Financial charges | 65/66B | €2,844 | €3,984 | +€1,140 | +40.1% |
| Recurring financial charges | 65 | €2,844 | €3,984 | +€1,140 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €59,390 | €86,125 | +€26,735 | +45.0% |
| Income taxes | 67/77 | €16,479 | €18,247 | +€1,768 | +10.7% |
| Profit (loss) for the period | 9904 | €42,912 | €67,878 | +€24,966 | +58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,912 | €67,878 | +€24,966 | +58.2% |
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 10 October 2026 via checked.be.