Studio Menko: 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 Menko
Largest movements
- Cash +€64,563
up €64,563 (+131.6%), from €49,060 to €113,623
mainly Net result for the year (+€93,144) and Tax, wage and social debts (+€20,378)
- Receivables after one year -€19,111
down €19,111 (-37.5%), from €51,000 to €31,889
- Receivables within one year -€14,993
down €14,993 (-21.3%), from €70,263 to €55,270
of which Trade receivables: -€31,433
- Reserves +€93,000
up €93,000 (+59.2%), from €157,000 to €250,000
- Other debts -€88,788
down €88,788 (-33.0%), from €269,460 to €180,672
- Tax, wage and social debts +€20,378
up €20,378 (+117.0%), from €17,413 to €37,790
- Gross operating margin +€16,249
up €16,249 (+14.7%), from €110,336 to €126,584
- Taxes +€4,143
up €4,143 (+15.0%), from €27,596 to €31,739
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 | €470,792 | €500,249 | +€29,457 | +6.3% |
| Fixed assets | 21/28 | €300,412 | €299,467 | -€945 | -0.3% |
| Tangible fixed assets | 22/27 | €3,175 | €2,230 | -€945 | -29.8% |
| Furniture and vehicles | 24 | €3,175 | €2,230 | -€945 | -29.8% |
| Financial fixed assets | 28 | €297,237 | €297,237 | = | 0.0% |
| Current assets | 29/58 | €170,380 | €200,782 | +€30,402 | +17.8% |
| Amounts receivable after more than one year | 29 | €51,000 | €31,889 | -€19,111 | -37.5% |
| Other amounts receivable | 291 | €51,000 | €31,889 | -€19,111 | -37.5% |
| Amounts receivable within one year | 40/41 | €70,263 | €55,270 | -€14,993 | -21.3% |
| Trade receivables | 40 | €70,103 | €38,670 | -€31,433 | -44.8% |
| Other amounts receivable | 41 | €160 | €16,600 | +€16,440 | +10278.6% |
| Cash at bank and in hand | 54/58 | €49,060 | €113,623 | +€64,563 | +131.6% |
| Deferred charges and accrued income | 490/1 | €57 | - | -€57 | |
| Total equity and liabilities | 10/49 | €470,792 | €500,249 | +€29,457 | +6.3% |
| Equity | 10/15 | €178,008 | €271,153 | +€93,144 | +52.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €157,000 | €250,000 | +€93,000 | +59.2% |
| Distributable reserves | 133 | €157,000 | €250,000 | +€93,000 | +59.2% |
| Profit (loss) carried forward | 14 | €548 | €693 | +€144 | +26.3% |
| Amounts payable | 17/49 | €292,783 | €229,096 | -€63,687 | -21.8% |
| Amounts payable within one year | 42/48 | €292,718 | €229,029 | -€63,689 | -21.8% |
| Financial debts | 43 | €3,834 | €3,822 | -€11 | -0.3% |
| Credit institutions | 430/8 | €3,834 | €3,822 | -€11 | -0.3% |
| Trade debts | 44 | €2,011 | €6,745 | +€4,734 | +235.4% |
| Suppliers | 440/4 | €2,011 | €6,745 | +€4,734 | +235.4% |
| Taxes, remuneration and social security | 45 | €17,413 | €37,790 | +€20,378 | +117.0% |
| Taxes | 450/3 | €17,413 | €37,790 | +€20,378 | +117.0% |
| Other amounts payable | 47/48 | €269,460 | €180,672 | -€88,788 | -33.0% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €945 | €945 | = | 0.0% |
| Other operating charges | 640/8 | €1,189 | €450 | -€739 | -62.2% |
| Gross operating margin | 9900 | €110,336 | €126,584 | +€16,249 | +14.7% |
| Operating profit (loss) | 9901 | €108,202 | €125,189 | +€16,988 | +15.7% |
| Financial income | 75/76B | - | €336 | +€336 | |
| Recurring financial income | 75 | - | €336 | +€336 | |
| Financial charges | 65/66B | €1,028 | €642 | -€386 | -37.5% |
| Recurring financial charges | 65 | €1,028 | €642 | -€386 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €107,174 | €124,883 | +€17,709 | +16.5% |
| Income taxes | 67/77 | €27,596 | €31,739 | +€4,143 | +15.0% |
| Profit (loss) for the period | 9904 | €79,578 | €93,144 | +€13,566 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €79,578 | €93,144 | +€13,566 | +17.0% |
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 2 October 2026 via checked.be.