studio ratio: 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 ratio
Largest movements
- Cash -€11,919
down €11,919 (-10.4%), from €114,735 to €102,816
mainly Contributions, distributions and other (-€43,105) and Receivables within one year (-€7,354)
- Receivables within one year +€7,354
up €7,354 (+47.4%), from €15,522 to €22,876
of which Other amounts receivable: +€8,170
- Trade debts -€4,235
down €4,235 (-62.6%), from €6,764 to €2,529
- Gross operating margin -€22,384
down €22,384 (-24.9%), from €89,990 to €67,606
- Taxes -€6,209
down €6,209 (-23.2%), from €26,738 to €20,529
- Financial income +€2,042
up €2,042 (+109%), from €1,866 to €3,908
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.
Derived cash bridge
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 | €338,640 | €331,221 | -€7,418 | -2.2% |
| Fixed assets | 21/28 | €60,341 | €57,449 | -€2,891 | -4.8% |
| Tangible fixed assets | 22/27 | €60,231 | €57,339 | -€2,891 | -4.8% |
| Land and buildings | 22 | €50,625 | €45,000 | -€5,625 | -11.1% |
| Plant, machinery and equipment | 23 | €6,892 | €6,044 | -€848 | -12.3% |
| Furniture and vehicles | 24 | €2,714 | €6,296 | +€3,582 | +132% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €278,299 | €273,772 | -€4,527 | -1.6% |
| Amounts receivable within one year | 40/41 | €15,522 | €22,876 | +€7,354 | +47.4% |
| Trade receivables | 40 | €13,989 | €13,174 | -€816 | -5.8% |
| Other amounts receivable | 41 | €1,532 | €9,702 | +€8,170 | +533% |
| Current investments | 50/53 | €147,323 | €147,323 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €114,735 | €102,816 | -€11,919 | -10.4% |
| Deferred charges and accrued income | 490/1 | €720 | €757 | +€37 | +5.2% |
| Total equity and liabilities | 10/49 | €338,640 | €331,221 | -€7,418 | -2.2% |
| Equity | 10/15 | €328,738 | €325,777 | -€2,961 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €310,138 | €307,177 | -€2,961 | -1.0% |
| Distributable reserves | 133 | €310,138 | €307,177 | -€2,961 | -1.0% |
| Amounts payable | 17/49 | €9,902 | €5,444 | -€4,458 | -45.0% |
| Amounts payable within one year | 42/48 | €7,836 | €3,377 | -€4,459 | -56.9% |
| Trade debts | 44 | €6,764 | €2,529 | -€4,235 | -62.6% |
| Suppliers | 440/4 | €6,764 | €2,529 | -€4,235 | -62.6% |
| Taxes, remuneration and social security | 45 | €184 | €848 | +€665 | +362% |
| Taxes | 450/3 | €184 | €848 | +€665 | +362% |
| Other amounts payable | 47/48 | €889 | - | -€889 | |
| Accrued charges and deferred income | 492/3 | €2,066 | €2,067 | +€1 | +0.1% |
| Non-recurring operating income | 76A | €1,632 | €85 | -€1,547 | -94.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,261 | €9,731 | +€469 | +5.1% |
| Other operating charges | 640/8 | €998 | €1,035 | +€37 | +3.7% |
| Non-recurring operating charges | 66A | €22 | - | -€22 | |
| Gross operating margin | 9900 | €89,990 | €67,606 | -€22,384 | -24.9% |
| Operating profit (loss) | 9901 | €79,709 | €56,841 | -€22,868 | -28.7% |
| Financial income | 75/76B | €1,866 | €3,908 | +€2,042 | +109% |
| Recurring financial income | 75 | €1,866 | €3,908 | +€2,042 | +109% |
| Financial charges | 65/66B | €824 | €76 | -€748 | -90.7% |
| Recurring financial charges | 65 | €824 | €76 | -€748 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | €80,750 | €60,673 | -€20,077 | -24.9% |
| Income taxes | 67/77 | €26,738 | €20,529 | -€6,209 | -23.2% |
| Profit (loss) for the period | 9904 | €54,012 | €40,144 | -€13,868 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €54,012 | €40,144 | -€13,868 | -25.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.