Studio Modular: 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 Modular
Largest movements
- Receivables within one year +€2,878
up €2,878 (+11.1%), from €26,012 to €28,890
of which Other amounts receivable: +€6,189
- Current investments +€2,000
new in 2025: €2,000
- Cash +€801
up €801 (+13.6%), from €5,907 to €6,708
mainly Current portion of long-term debt (+€8,300) and Trade debts (+€1,273)
- Tangible fixed assets -€670
down €670 (-33.5%), from €2,002 to €1,332
- Current portion of long-term debt +€8,300
new in 2025: €8,300
- Tax, wage and social debts -€4,120
down €4,120 (-38.9%), from €10,593 to €6,473
- Trade debts +€1,273
up €1,273 (+157.4%), from €809 to €2,082
- Gross operating margin -€15,418
down €15,418 (-83.2%), from €18,528 to €3,110
- Taxes -€1,639
down €1,639 (-43.7%), from €3,750 to €2,111
- Depreciation +€798
up €798 (+9026.9%), from €9 to €807
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 | €34,605 | €39,857 | +€5,253 | +15.2% |
| Fixed assets | 21/28 | €2,686 | €1,879 | -€807 | -30.0% |
| Intangible fixed assets | 21 | €683 | €546 | -€137 | -20.0% |
| Tangible fixed assets | 22/27 | €2,002 | €1,332 | -€670 | -33.5% |
| Plant, machinery and equipment | 23 | €2,002 | €1,332 | -€670 | -33.5% |
| Current assets | 29/58 | €31,919 | €37,979 | +€6,060 | +19.0% |
| Amounts receivable within one year | 40/41 | €26,012 | €28,890 | +€2,878 | +11.1% |
| Trade receivables | 40 | €26,012 | €22,701 | -€3,312 | -12.7% |
| Other amounts receivable | 41 | - | €6,189 | +€6,189 | |
| Current investments | 50/53 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €5,907 | €6,708 | +€801 | +13.6% |
| Deferred charges and accrued income | 490/1 | - | €381 | +€381 | |
| Total equity and liabilities | 10/49 | €34,605 | €39,857 | +€5,253 | +15.2% |
| Equity | 10/15 | €17,761 | €17,753 | -€9 | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,761 | €14,753 | -€9 | -0.1% |
| Amounts payable | 17/49 | €16,843 | €22,105 | +€5,261 | +31.2% |
| Amounts payable within one year | 42/48 | €16,843 | €22,105 | +€5,261 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | - | €8,300 | +€8,300 | |
| Trade debts | 44 | €809 | €2,082 | +€1,273 | +157.4% |
| Suppliers | 440/4 | €809 | €2,082 | +€1,273 | +157.4% |
| Taxes, remuneration and social security | 45 | €10,593 | €6,473 | -€4,120 | -38.9% |
| Taxes | 450/3 | €10,593 | €6,473 | -€4,120 | -38.9% |
| Other amounts payable | 47/48 | €5,441 | €5,249 | -€192 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9 | €807 | +€798 | +9026.9% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €18,528 | €3,110 | -€15,418 | -83.2% |
| Operating profit (loss) | 9901 | €18,519 | €2,183 | -€16,336 | -88.2% |
| Financial charges | 65/66B | €8 | €81 | +€73 | +974.8% |
| Recurring financial charges | 65 | €8 | €81 | +€73 | +974.8% |
| Profit (loss) for the period before taxes | 9903 | €18,512 | €2,102 | -€16,409 | -88.6% |
| Income taxes | 67/77 | €3,750 | €2,111 | -€1,639 | -43.7% |
| Profit (loss) for the period | 9904 | €14,761 | -€9 | -€14,770 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,761 | -€9 | -€14,770 |
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 8 October 2026 via checked.be.