STUDIO MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash -€46,346
down €46,346 (-21.8%), from €213,024 to €166,678
mainly Investment in fixed assets (net) (-€121,983) and Other debts (-€64,689)
- Tangible fixed assets +€40,897
up €40,897 (+4.9%), from €830,497 to €871,394
of which Plant, machinery and equipment: +€36,779
- Receivables within one year +€40,391
up €40,391 (+43.4%), from €93,080 to €133,471
of which Other amounts receivable: +€64,481
- Other debts -€64,689
down €64,689 (-48.2%), from €134,098 to €69,409
- Reserves +€52,960
up €52,960 (+14.7%), from €359,087 to €412,047
of which Distributable reserves: +€61,747
- Debts after one year +€50,641
up €50,641 (+234.3%), from €21,615 to €72,256
- Gross operating margin -€94,806
down €94,806 (-21.4%), from €444,003 to €349,197
- Financial charges +€64,120
up €64,120 (+53.2%), from €120,456 to €184,576
- Taxes -€52,728
down €52,728 (-67.3%), from €78,403 to €25,675
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.
Cash bridge derived
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 | €2,050,669 | €2,078,521 | +€27,851 | +1.4% |
| Fixed assets | 21/28 | €830,497 | €871,394 | +€40,897 | +4.9% |
| Tangible fixed assets | 22/27 | €830,497 | €871,394 | +€40,897 | +4.9% |
| Plant, machinery and equipment | 23 | €19,352 | €56,130 | +€36,779 | +190.1% |
| Furniture and vehicles | 24 | €805 | €2,686 | +€1,882 | +233.8% |
| Other tangible fixed assets | 26 | €810,341 | €812,578 | +€2,237 | +0.3% |
| Current assets | 29/58 | €1,220,172 | €1,207,126 | -€13,045 | -1.1% |
| Amounts receivable after more than one year | 29 | €911,000 | €904,200 | -€6,800 | -0.7% |
| Other amounts receivable | 291 | €911,000 | €904,200 | -€6,800 | -0.7% |
| Amounts receivable within one year | 40/41 | €93,080 | €133,471 | +€40,391 | +43.4% |
| Trade receivables | 40 | €53,080 | €28,990 | -€24,090 | -45.4% |
| Other amounts receivable | 41 | €40,000 | €104,481 | +€64,481 | +161.2% |
| Cash at bank and in hand | 54/58 | €213,024 | €166,678 | -€46,346 | -21.8% |
| Deferred charges and accrued income | 490/1 | €3,068 | €2,778 | -€290 | -9.5% |
| Total equity and liabilities | 10/49 | €2,050,669 | €2,078,521 | +€27,851 | +1.4% |
| Equity | 10/15 | €1,640,702 | €1,693,662 | +€52,960 | +3.2% |
| Reserves | 13 | €359,087 | €412,047 | +€52,960 | +14.7% |
| Tax-exempt reserves | 132 | €134,471 | €125,684 | -€8,787 | -6.5% |
| Distributable reserves | 133 | €224,616 | €286,363 | +€61,747 | +27.5% |
| Profit (loss) carried forward | 14 | €1,281,615 | €1,281,615 | = | 0.0% |
| Provisions and deferred taxes | 16 | €57,630 | €53,864 | -€3,766 | -6.5% |
| Deferred taxes | 168 | €57,630 | €53,864 | -€3,766 | -6.5% |
| Amounts payable | 17/49 | €352,337 | €330,994 | -€21,343 | -6.1% |
| Amounts payable after more than one year | 17 | €21,615 | €72,256 | +€50,641 | +234.3% |
| Financial debts | 170/4 | €21,615 | €72,256 | +€50,641 | +234.3% |
| Amounts payable within one year | 42/48 | €330,695 | €258,646 | -€72,048 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €35,841 | €37,933 | +€2,092 | +5.8% |
| Financial debts | 43 | €75,317 | €75,277 | -€40 | -0.1% |
| Credit institutions | 430/8 | €75,317 | €75,277 | -€40 | -0.1% |
| Trade debts | 44 | €7,973 | €11,106 | +€3,133 | +39.3% |
| Suppliers | 440/4 | €7,973 | €11,106 | +€3,133 | +39.3% |
| Taxes, remuneration and social security | 45 | €77,466 | €64,921 | -€12,544 | -16.2% |
| Taxes | 450/3 | €77,466 | €64,921 | -€12,544 | -16.2% |
| Other amounts payable | 47/48 | €134,098 | €69,409 | -€64,689 | -48.2% |
| Accrued charges and deferred income | 492/3 | €27 | €92 | +€65 | +238.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,084 | €81,086 | +€2 | 0.0% |
| Other operating charges | 640/8 | €5,472 | €6,837 | +€1,365 | +24.9% |
| Non-recurring operating charges | 66A | - | €1,839 | +€1,839 | |
| Gross operating margin | 9900 | €444,003 | €349,197 | -€94,806 | -21.4% |
| Operating profit (loss) | 9901 | €357,448 | €259,436 | -€98,012 | -27.4% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €120,456 | €184,576 | +€64,120 | +53.2% |
| Recurring financial charges | 65 | €120,456 | €184,576 | +€64,120 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €236,991 | €74,869 | -€162,122 | -68.4% |
| Transfer from deferred taxes | 780 | €3,766 | €3,766 | = | 0.0% |
| Income taxes | 67/77 | €78,403 | €25,675 | -€52,728 | -67.3% |
| Profit (loss) for the period | 9904 | €162,354 | €52,960 | -€109,394 | -67.4% |
| Transfer from tax-exempt reserves | 789 | €8,787 | €8,787 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €171,141 | €61,747 | -€109,394 | -63.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.