Studio Rhaeda: 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 Rhaeda
Largest movements
- Cash +€33,839
up €33,839 (+52.4%), from €64,625 to €98,464
mainly Other debts (+€58,722) and Stocks and contracts (+€22,136)
- Stocks and contracts -€22,136
down €22,136 (-96.5%), from €22,936 to €800
- Tangible fixed assets -€3,300
down €3,300 (-47.6%), from €6,935 to €3,635
of which Other tangible fixed assets: -€2,400
- Receivables within one year -€2,976
down €2,976 (-38.1%), from €7,816 to €4,840
- Other debts +€58,722
up €58,722 (+1,801%), from €3,261 to €61,983
- Reserves -€51,390
down €51,390 (-74.2%), from €69,250 to €17,860
- Tax, wage and social debts -€2,858
down €2,858 (-14.6%), from €19,516 to €16,658
of which Taxes: -€4,478
- Gross operating margin -€11,321
down €11,321 (-28.6%), from €39,538 to €28,217
- Taxes -€1,841
down €1,841 (-28.1%), from €6,561 to €4,720
- Depreciation -€1,670
down €1,670 (-35.5%), from €4,704 to €3,034
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 | €103,763 | €109,156 | +€5,393 | +5.2% |
| Fixed assets | 21/28 | €7,435 | €4,135 | -€3,300 | -44.4% |
| Tangible fixed assets | 22/27 | €6,935 | €3,635 | -€3,300 | -47.6% |
| Plant, machinery and equipment | 23 | €277 | - | -€277 | |
| Furniture and vehicles | 24 | €985 | €362 | -€623 | -63.2% |
| Other tangible fixed assets | 26 | €5,673 | €3,273 | -€2,400 | -42.3% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €96,328 | €105,021 | +€8,693 | +9.0% |
| Stocks and contracts in progress | 3 | €22,936 | €800 | -€22,136 | -96.5% |
| Stocks | 30/36 | €22,936 | €800 | -€22,136 | -96.5% |
| Amounts receivable within one year | 40/41 | €7,816 | €4,840 | -€2,976 | -38.1% |
| Trade receivables | 40 | €7,816 | €4,840 | -€2,976 | -38.1% |
| Cash at bank and in hand | 54/58 | €64,625 | €98,464 | +€33,839 | +52.4% |
| Deferred charges and accrued income | 490/1 | €951 | €917 | -€34 | -3.6% |
| Total equity and liabilities | 10/49 | €103,763 | €109,156 | +€5,393 | +5.2% |
| Equity | 10/15 | €74,250 | €22,860 | -€51,390 | -69.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €69,250 | €17,860 | -€51,390 | -74.2% |
| Distributable reserves | 133 | €69,250 | €17,860 | -€51,390 | -74.2% |
| Amounts payable | 17/49 | €29,513 | €86,296 | +€56,783 | +192% |
| Amounts payable within one year | 42/48 | €28,988 | €85,771 | +€56,783 | +196% |
| Trade debts | 44 | €6,211 | €7,130 | +€919 | +14.8% |
| Suppliers | 440/4 | €6,211 | €7,130 | +€919 | +14.8% |
| Taxes, remuneration and social security | 45 | €19,516 | €16,658 | -€2,858 | -14.6% |
| Taxes | 450/3 | €18,961 | €14,483 | -€4,478 | -23.6% |
| Remuneration and social security | 454/9 | €555 | €2,175 | +€1,620 | +292% |
| Other amounts payable | 47/48 | €3,261 | €61,983 | +€58,722 | +1,801% |
| Accrued charges and deferred income | 492/3 | €525 | €525 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,704 | €3,034 | -€1,670 | -35.5% |
| Other operating charges | 640/8 | €2,771 | €2,560 | -€211 | -7.6% |
| Non-recurring operating charges | 66A | - | €266 | +€266 | |
| Gross operating margin | 9900 | €39,538 | €28,217 | -€11,321 | -28.6% |
| Operating profit (loss) | 9901 | €32,063 | €22,357 | -€9,706 | -30.3% |
| Financial income | 75/76B | €2 | €288 | +€286 | +14,300% |
| Recurring financial income | 75 | €2 | €288 | +€286 | +14,300% |
| Financial charges | 65/66B | €60 | €65 | +€5 | +8.3% |
| Recurring financial charges | 65 | €60 | €65 | +€5 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €32,005 | €22,580 | -€9,425 | -29.4% |
| Income taxes | 67/77 | €6,561 | €4,720 | -€1,841 | -28.1% |
| Profit (loss) for the period | 9904 | €25,444 | €17,860 | -€7,584 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,444 | €17,860 | -€7,584 | -29.8% |
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 20 October 2026 via checked.be.