studio Roger: 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 Roger
Largest movements
- Receivables within one year +€34,256
up €34,256 (+20.5%), from €167,031 to €201,286
of which Trade receivables: +€27,447
- Intangible fixed assets -€29,812
down €29,812 (-13.9%), from €214,434 to €184,622
- Cash -€5,803
down €5,803 (-14.6%), from €39,800 to €33,997
mainly Trade debts (-€41,502) and Receivables within one year (-€34,256)
- Profit (loss) carried forward +€42,219
up €42,219 (+111.2%), from €37,962 to €80,181
- Trade debts -€41,502
down €41,502 (-52.9%), from €78,400 to €36,898
- Debts after one year -€14,997
down €14,997 (-20.4%), from €73,532 to €58,535
- Current portion of long-term debt +€9,499
up €9,499 (+66.5%), from €14,294 to €23,793
- Tax, wage and social debts +€5,987
up €5,987 (+8.4%), from €71,063 to €77,051
of which Taxes: +€7,214
- Staff costs -€23,448
down €23,448 (-8.2%), from €286,941 to €263,493
- Gross operating margin -€15,417
down €15,417 (-4.1%), from €377,353 to €361,936
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 | €436,606 | €436,971 | +€365 | +0.1% |
| Fixed assets | 21/28 | €225,626 | €195,748 | -€29,878 | -13.2% |
| Intangible fixed assets | 21 | €214,434 | €184,622 | -€29,812 | -13.9% |
| Tangible fixed assets | 22/27 | €6,667 | €6,600 | -€66 | -1.0% |
| Plant, machinery and equipment | 23 | €1,673 | €0 | -€1,673 | -100.0% |
| Furniture and vehicles | 24 | €4,994 | €6,600 | +€1,606 | +32.2% |
| Financial fixed assets | 28 | €4,525 | €4,525 | = | 0.0% |
| Current assets | 29/58 | €210,980 | €241,223 | +€30,244 | +14.3% |
| Amounts receivable within one year | 40/41 | €167,031 | €201,286 | +€34,256 | +20.5% |
| Trade receivables | 40 | €133,921 | €161,368 | +€27,447 | +20.5% |
| Other amounts receivable | 41 | €33,110 | €39,919 | +€6,809 | +20.6% |
| Cash at bank and in hand | 54/58 | €39,800 | €33,997 | -€5,803 | -14.6% |
| Deferred charges and accrued income | 490/1 | €4,149 | €5,940 | +€1,791 | +43.2% |
| Total equity and liabilities | 10/49 | €436,606 | €436,971 | +€365 | +0.1% |
| Equity | 10/15 | €198,475 | €240,695 | +€42,219 | +21.3% |
| Contributions | 10/11 | €19,634 | €19,634 | = | 0.0% |
| Reserves | 13 | €140,880 | €140,880 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,374 | €2,374 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,374 | €2,374 | = | 0.0% |
| Distributable reserves | 133 | €138,506 | €138,506 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,962 | €80,181 | +€42,219 | +111.2% |
| Amounts payable | 17/49 | €238,130 | €196,276 | -€41,854 | -17.6% |
| Amounts payable after more than one year | 17 | €73,532 | €58,535 | -€14,997 | -20.4% |
| Financial debts | 170/4 | €73,532 | €58,535 | -€14,997 | -20.4% |
| Amounts payable within one year | 42/48 | €163,758 | €137,741 | -€26,016 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €14,294 | €23,793 | +€9,499 | +66.5% |
| Trade debts | 44 | €78,400 | €36,898 | -€41,502 | -52.9% |
| Suppliers | 440/4 | €78,400 | €36,898 | -€41,502 | -52.9% |
| Taxes, remuneration and social security | 45 | €71,063 | €77,051 | +€5,987 | +8.4% |
| Taxes | 450/3 | €29,091 | €36,304 | +€7,214 | +24.8% |
| Remuneration and social security | 454/9 | €41,973 | €40,746 | -€1,226 | -2.9% |
| Accrued charges and deferred income | 492/3 | €841 | €0 | -€841 | -100.0% |
| Remuneration, social security and pensions | 62 | €286,941 | €263,493 | -€23,448 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,378 | €33,691 | -€1,687 | -4.8% |
| Other operating charges | 640/8 | €898 | €181 | -€717 | -79.9% |
| Gross operating margin | 9900 | €377,353 | €361,936 | -€15,417 | -4.1% |
| Operating profit (loss) | 9901 | €54,136 | €64,572 | +€10,436 | +19.3% |
| Financial income | 75/76B | €106 | €217 | +€112 | +105.6% |
| Recurring financial income | 75 | €106 | €217 | +€112 | +105.6% |
| Financial charges | 65/66B | €6,611 | €6,044 | -€566 | -8.6% |
| Recurring financial charges | 65 | €6,611 | €6,044 | -€566 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €47,631 | €58,745 | +€11,114 | +23.3% |
| Income taxes | 67/77 | €14,734 | €16,526 | +€1,791 | +12.2% |
| Profit (loss) for the period | 9904 | €32,897 | €42,219 | +€9,323 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,897 | €42,219 | +€9,323 | +28.3% |
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 6 October 2026 via checked.be.