STUDIO MERGUEZ: 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 MERGUEZ
Largest movements
- Tangible fixed assets +€30,723
up €30,723 (+892.8%), from €3,441 to €34,164
of which Furniture and vehicles: +€31,231
- Receivables within one year +€8,570
up €8,570 (+302.8%), from €2,831 to €11,401
- Cash -€6,896
down €6,896 (-36.7%), from €18,816 to €11,920
mainly Investment in fixed assets (net) (-€37,993) and Receivables within one year (-€8,570)
- Debts after one year +€20,671
new in 2025: €20,671
- Current portion of long-term debt +€5,740
new in 2025: €5,740
- Reserves +€4,707
up €4,707 (+30.7%), from €15,326 to €20,033
- Tax, wage and social debts +€1,607
up €1,607 (+26.5%), from €6,059 to €7,665
- Depreciation +€5,327
up €5,327 (+274.2%), from €1,943 to €7,270
- Taxes -€1,797
down €1,797 (-63.9%), from €2,810 to €1,013
- Financial charges +€1,097
up €1,097 (+1328.5%), from €83 to €1,179
- Gross operating margin +€582
up €582 (+4.1%), from €14,290 to €14,872
- Other operating charges +€192
up €192 (+37.3%), from €513 to €705
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 | €27,098 | €59,743 | +€32,645 | +120.5% |
| Fixed assets | 21/28 | €3,441 | €34,164 | +€30,723 | +892.8% |
| Tangible fixed assets | 22/27 | €3,441 | €34,164 | +€30,723 | +892.8% |
| Plant, machinery and equipment | 23 | €1,212 | €704 | -€508 | -41.9% |
| Furniture and vehicles | 24 | €2,230 | €33,460 | +€31,231 | +1400.7% |
| Current assets | 29/58 | €23,657 | €25,579 | +€1,922 | +8.1% |
| Amounts receivable within one year | 40/41 | €2,831 | €11,401 | +€8,570 | +302.8% |
| Trade receivables | 40 | €2,831 | €11,401 | +€8,570 | +302.8% |
| Cash at bank and in hand | 54/58 | €18,816 | €11,920 | -€6,896 | -36.7% |
| Deferred charges and accrued income | 490/1 | €2,010 | €2,258 | +€248 | +12.4% |
| Total equity and liabilities | 10/49 | €27,098 | €59,743 | +€32,645 | +120.5% |
| Equity | 10/15 | €20,326 | €25,033 | +€4,707 | +23.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €15,326 | €20,033 | +€4,707 | +30.7% |
| Distributable reserves | 133 | €15,326 | €20,033 | +€4,707 | +30.7% |
| Amounts payable | 17/49 | €6,772 | €34,710 | +€27,938 | +412.6% |
| Amounts payable after more than one year | 17 | - | €20,671 | +€20,671 | |
| Financial debts | 170/4 | - | €20,671 | +€20,671 | |
| Amounts payable within one year | 42/48 | €6,702 | €14,039 | +€7,337 | +109.5% |
| Current portion of amounts payable after more than one year | 42 | - | €5,740 | +€5,740 | |
| Trade debts | 44 | €435 | €391 | -€44 | -10.1% |
| Suppliers | 440/4 | €435 | €391 | -€44 | -10.1% |
| Taxes, remuneration and social security | 45 | €6,059 | €7,665 | +€1,607 | +26.5% |
| Taxes | 450/3 | €6,059 | €7,665 | +€1,607 | +26.5% |
| Other amounts payable | 47/48 | €208 | €243 | +€35 | +16.6% |
| Accrued charges and deferred income | 492/3 | €70 | €0 | -€70 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,943 | €7,270 | +€5,327 | +274.2% |
| Other operating charges | 640/8 | €513 | €705 | +€192 | +37.3% |
| Gross operating margin | 9900 | €14,290 | €14,872 | +€582 | +4.1% |
| Operating profit (loss) | 9901 | €11,834 | €6,897 | -€4,937 | -41.7% |
| Financial income | 75/76B | €2 | €2 | +€0 | +13.6% |
| Recurring financial income | 75 | €2 | €2 | +€0 | +13.6% |
| Financial charges | 65/66B | €83 | €1,179 | +€1,097 | +1328.5% |
| Recurring financial charges | 65 | €83 | €1,179 | +€1,097 | +1328.5% |
| Profit (loss) for the period before taxes | 9903 | €11,753 | €5,720 | -€6,033 | -51.3% |
| Income taxes | 67/77 | €2,810 | €1,013 | -€1,797 | -63.9% |
| Profit (loss) for the period | 9904 | €8,943 | €4,707 | -€4,237 | -47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,943 | €4,707 | -€4,237 | -47.4% |
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 12 October 2026 via checked.be.