Studio Phi: 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 Phi
Largest movements
- Receivables within one year +€409,220
up €409,220 (+141.3%), from €289,555 to €698,775
- Tangible fixed assets +€92,434
up €92,434 (+12.3%), from €748,732 to €841,166
of which Furniture and vehicles: +€49,774
- Cash -€46,619
down €46,619 (-16.3%), from €286,293 to €239,673
mainly Receivables within one year (-€409,220) and Investment in fixed assets (net) (-€144,391)
- Reserves +€227,904
up €227,904 (+70.4%), from €323,803 to €551,708
- Tax, wage and social debts +€178,465
up €178,465 (+110.2%), from €161,987 to €340,451
of which Taxes: +€158,505
- Trade debts +€33,098
up €33,098 (+54.2%), from €61,015 to €94,113
- Debts after one year -€21,305
down €21,305 (-4.0%), from €533,437 to €512,131
- Other debts +€18,172
up €18,172 (+7.2%), from €251,366 to €269,538
- Staff costs +€153,392
up €153,392 (+248.2%), from €61,796 to €215,189
- Taxes -€30,042
down €30,042 (-27.4%), from €109,695 to €79,653
- Financial charges +€14,983
up €14,983 (+65.3%), from €22,932 to €37,914
- Depreciation -€11,666
down €11,666 (-20.1%), from €58,066 to €46,400
- Gross operating margin +€11,481
up €11,481 (+1.9%), from €595,288 to €606,770
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 | €1,353,154 | €1,805,367 | +€452,212 | +33.4% |
| Fixed assets | 21/28 | €762,747 | €860,738 | +€97,991 | +12.8% |
| Tangible fixed assets | 22/27 | €748,732 | €841,166 | +€92,434 | +12.3% |
| Land and buildings | 22 | €704,963 | €729,368 | +€24,405 | +3.5% |
| Plant, machinery and equipment | 23 | - | €18,255 | +€18,255 | |
| Furniture and vehicles | 24 | €43,769 | €93,543 | +€49,774 | +113.7% |
| Financial fixed assets | 28 | €14,015 | €19,572 | +€5,557 | +39.7% |
| Current assets | 29/58 | €590,407 | €944,629 | +€354,222 | +60.0% |
| Amounts receivable within one year | 40/41 | €289,555 | €698,775 | +€409,220 | +141.3% |
| Trade receivables | 40 | €289,555 | €698,775 | +€409,220 | +141.3% |
| Cash at bank and in hand | 54/58 | €286,293 | €239,673 | -€46,619 | -16.3% |
| Deferred charges and accrued income | 490/1 | €14,559 | €6,180 | -€8,379 | -57.6% |
| Total equity and liabilities | 10/49 | €1,353,154 | €1,805,367 | +€452,212 | +33.4% |
| Equity | 10/15 | €323,903 | €551,808 | +€227,904 | +70.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €323,803 | €551,708 | +€227,904 | +70.4% |
| Distributable reserves | 133 | €323,803 | €551,708 | +€227,904 | +70.4% |
| Amounts payable | 17/49 | €1,029,251 | €1,253,559 | +€224,308 | +21.8% |
| Amounts payable after more than one year | 17 | €533,437 | €512,131 | -€21,305 | -4.0% |
| Financial debts | 170/4 | €533,437 | €512,131 | -€21,305 | -4.0% |
| Amounts payable within one year | 42/48 | €494,849 | €725,408 | +€230,559 | +46.6% |
| Current portion of amounts payable after more than one year | 42 | €20,481 | €21,305 | +€824 | +4.0% |
| Trade debts | 44 | €61,015 | €94,113 | +€33,098 | +54.2% |
| Suppliers | 440/4 | €61,015 | €94,113 | +€33,098 | +54.2% |
| Taxes, remuneration and social security | 45 | €161,987 | €340,451 | +€178,465 | +110.2% |
| Taxes | 450/3 | €148,683 | €307,188 | +€158,505 | +106.6% |
| Remuneration and social security | 454/9 | €13,303 | €33,263 | +€19,960 | +150.0% |
| Other amounts payable | 47/48 | €251,366 | €269,538 | +€18,172 | +7.2% |
| Accrued charges and deferred income | 492/3 | €965 | €16,019 | +€15,054 | +1560.0% |
| Remuneration, social security and pensions | 62 | €61,796 | €215,189 | +€153,392 | +248.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,066 | €46,400 | -€11,666 | -20.1% |
| Other operating charges | 640/8 | €6,705 | €2,333 | -€4,373 | -65.2% |
| Gross operating margin | 9900 | €595,288 | €606,770 | +€11,481 | +1.9% |
| Operating profit (loss) | 9901 | €468,721 | €342,848 | -€125,873 | -26.9% |
| Financial income | 75/76B | €0 | €2,623 | +€2,623 | +5246340.0% |
| Recurring financial income | 75 | €0 | €2,623 | +€2,623 | +5246340.0% |
| Financial charges | 65/66B | €22,932 | €37,914 | +€14,983 | +65.3% |
| Recurring financial charges | 65 | €22,932 | €37,914 | +€14,983 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €445,789 | €307,557 | -€138,232 | -31.0% |
| Income taxes | 67/77 | €109,695 | €79,653 | -€30,042 | -27.4% |
| Profit (loss) for the period | 9904 | €336,094 | €227,904 | -€108,190 | -32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €336,094 | €227,904 | -€108,190 | -32.2% |
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 28 September 2026 via checked.be.