STUDIO P+: 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 P+
Largest movements
- Tangible fixed assets +€748,357
new in 2025: €748,357
of which Land and buildings: +€744,285
- Cash -€85,444
down €85,444 (-58.6%), from €145,810 to €60,366
mainly Investment in fixed assets (net) (-€853,306) and Receivables within one year (-€52,908)
- Receivables within one year +€52,908
up €52,908 (+3149314.3%), from €2 to €52,910
of which Trade receivables: +€29,734
- Debts after one year +€595,746
new in 2025: €595,746
- Reserves +€45,000
up €45,000 (+45.5%), from €99,000 to €144,000
- Advances received +€34,813
new in 2025: €34,813
- Current portion of long-term debt +€34,600
new in 2025: €34,600
- Depreciation +€104,949
new in 2025: €104,949
- Gross operating margin +€54,817
up €54,817 (+43.4%), from €126,448 to €181,265
- Financial charges +€18,875
up €18,875 (+106759.0%), from €18 to €18,893
- Taxes -€15,409
down €15,409 (-57.5%), from €26,818 to €11,409
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 | €148,038 | €863,859 | +€715,821 | +483.5% |
| Fixed assets | 21/28 | - | €748,357 | +€748,357 | |
| Tangible fixed assets | 22/27 | - | €748,357 | +€748,357 | |
| Land and buildings | 22 | - | €744,285 | +€744,285 | |
| Furniture and vehicles | 24 | - | €4,072 | +€4,072 | |
| Current assets | 29/58 | €148,038 | €115,502 | -€32,536 | -22.0% |
| Stocks and contracts in progress | 3 | €2,227 | €2,227 | = | 0.0% |
| Stocks | 30/36 | €2,227 | €2,227 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2 | €52,910 | +€52,908 | +3149314.3% |
| Trade receivables | 40 | - | €29,734 | +€29,734 | |
| Other amounts receivable | 41 | €2 | €23,176 | +€23,174 | +1379433.9% |
| Cash at bank and in hand | 54/58 | €145,810 | €60,366 | -€85,444 | -58.6% |
| Total equity and liabilities | 10/49 | €148,038 | €863,859 | +€715,821 | +483.5% |
| Equity | 10/15 | €100,146 | €145,468 | +€45,322 | +45.3% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €99,000 | €144,000 | +€45,000 | +45.5% |
| Distributable reserves | 133 | €99,000 | €144,000 | +€45,000 | +45.5% |
| Profit (loss) carried forward | 14 | €646 | €968 | +€322 | +49.8% |
| Amounts payable | 17/49 | €47,892 | €718,391 | +€670,499 | +1400.0% |
| Amounts payable after more than one year | 17 | - | €595,746 | +€595,746 | |
| Financial debts | 170/4 | - | €595,746 | +€595,746 | |
| Amounts payable within one year | 42/48 | €46,827 | €121,580 | +€74,754 | +159.6% |
| Current portion of amounts payable after more than one year | 42 | - | €34,600 | +€34,600 | |
| Trade debts | 44 | €3,328 | €8,571 | +€5,243 | +157.5% |
| Suppliers | 440/4 | €3,328 | €8,571 | +€5,243 | +157.5% |
| Advances received on contracts in progress | 46 | - | €34,813 | +€34,813 | |
| Taxes, remuneration and social security | 45 | €43,499 | €43,597 | +€99 | +0.2% |
| Taxes | 450/3 | €43,499 | €43,597 | +€99 | +0.2% |
| Accrued charges and deferred income | 492/3 | €1,066 | €1,066 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €104,949 | +€104,949 | |
| Other operating charges | 640/8 | - | €1,145 | +€1,145 | |
| Gross operating margin | 9900 | €126,448 | €181,265 | +€54,817 | +43.4% |
| Operating profit (loss) | 9901 | €126,448 | €75,171 | -€51,277 | -40.6% |
| Financial income | 75/76B | €34 | €453 | +€419 | +1245.9% |
| Recurring financial income | 75 | €34 | €453 | +€419 | +1245.9% |
| Financial charges | 65/66B | €18 | €18,893 | +€18,875 | +106759.0% |
| Recurring financial charges | 65 | €18 | €18,893 | +€18,875 | +106759.0% |
| Profit (loss) for the period before taxes | 9903 | €126,464 | €56,731 | -€69,733 | -55.1% |
| Income taxes | 67/77 | €26,818 | €11,409 | -€15,409 | -57.5% |
| Profit (loss) for the period | 9904 | €99,646 | €45,322 | -€54,324 | -54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €99,646 | €45,322 | -€54,324 | -54.5% |
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 11 October 2026 via checked.be.