STUDIO SI: 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 SI
Largest movements
- Cash +€23,254
up €23,254 (+49.2%), from €47,247 to €70,501
mainly Depreciation (+€22,307) and Net result for the year (+€15,685)
- Tangible fixed assets -€20,586
down €20,586 (-4.2%), from €494,613 to €474,028
of which Land and buildings: -€12,328
- Receivables within one year -€12,782
down €12,782 (-78.6%), from €16,266 to €3,484
of which Trade receivables: -€12,666
- Stocks and contracts -€11,000
down €11,000 (-73.3%), from €15,000 to €4,000
- Trade debts -€27,305
down €27,305 (-51.3%), from €53,248 to €25,942
- Debts after one year -€21,455
down €21,455 (-5.6%), from €383,181 to €361,726
- Reserves +€14,667
up €14,667 (+91.7%), from €16,000 to €30,667
- Tax, wage and social debts +€13,842
up €13,842 (+143.6%), from €9,640 to €23,482
of which Taxes: +€16,157
- Gross operating margin +€30,852
up €30,852 (+80.6%), from €38,300 to €69,152
- Taxes +€10,415
up €10,415 (+1484.4%), from €702 to €11,117
- Financial charges +€9,673
up €9,673 (+128.8%), from €7,513 to €17,186
- Depreciation -€5,658
down €5,658 (-20.2%), from €27,964 to €22,307
- Financial income +€893
up €893 (+85061.0%), from €1 to €894
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 | €573,285 | €552,281 | -€21,004 | -3.7% |
| Fixed assets | 21/28 | €494,613 | €474,028 | -€20,586 | -4.2% |
| Tangible fixed assets | 22/27 | €494,613 | €474,028 | -€20,586 | -4.2% |
| Land and buildings | 22 | €455,772 | €443,444 | -€12,328 | -2.7% |
| Plant, machinery and equipment | 23 | €32,808 | €29,619 | -€3,190 | -9.7% |
| Furniture and vehicles | 24 | €6,033 | €965 | -€5,068 | -84.0% |
| Current assets | 29/58 | €78,671 | €78,253 | -€418 | -0.5% |
| Stocks and contracts in progress | 3 | €15,000 | €4,000 | -€11,000 | -73.3% |
| Stocks | 30/36 | €15,000 | €4,000 | -€11,000 | -73.3% |
| Amounts receivable within one year | 40/41 | €16,266 | €3,484 | -€12,782 | -78.6% |
| Trade receivables | 40 | €15,738 | €3,073 | -€12,666 | -80.5% |
| Other amounts receivable | 41 | €527 | €412 | -€116 | -22.0% |
| Cash at bank and in hand | 54/58 | €47,247 | €70,501 | +€23,254 | +49.2% |
| Deferred charges and accrued income | 490/1 | €159 | €268 | +€109 | +68.3% |
| Total equity and liabilities | 10/49 | €573,285 | €552,281 | -€21,004 | -3.7% |
| Equity | 10/15 | €17,982 | €33,667 | +€15,685 | +87.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,000 | €30,667 | +€14,667 | +91.7% |
| Distributable reserves | 133 | €16,000 | €30,667 | +€14,667 | +91.7% |
| Profit (loss) carried forward | 14 | -€1,018 | €0 | +€1,018 | |
| Amounts payable | 17/49 | €555,303 | €518,614 | -€36,689 | -6.6% |
| Amounts payable after more than one year | 17 | €383,181 | €361,726 | -€21,455 | -5.6% |
| Financial debts | 170/4 | €383,181 | €361,726 | -€21,455 | -5.6% |
| Amounts payable within one year | 42/48 | €172,122 | €155,514 | -€16,608 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €23,618 | €22,506 | -€1,112 | -4.7% |
| Trade debts | 44 | €53,248 | €25,942 | -€27,305 | -51.3% |
| Suppliers | 440/4 | €53,248 | €25,942 | -€27,305 | -51.3% |
| Taxes, remuneration and social security | 45 | €9,640 | €23,482 | +€13,842 | +143.6% |
| Taxes | 450/3 | €7,325 | €23,482 | +€16,157 | +220.6% |
| Remuneration and social security | 454/9 | €2,315 | €0 | -€2,315 | -100.0% |
| Other amounts payable | 47/48 | €85,616 | €83,583 | -€2,033 | -2.4% |
| Accrued charges and deferred income | 492/3 | - | €1,374 | +€1,374 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,964 | €22,307 | -€5,658 | -20.2% |
| Other operating charges | 640/8 | €3,277 | €3,752 | +€474 | +14.5% |
| Gross operating margin | 9900 | €38,300 | €69,152 | +€30,852 | +80.6% |
| Operating profit (loss) | 9901 | €7,058 | €43,094 | +€36,035 | +510.5% |
| Financial income | 75/76B | €1 | €894 | +€893 | +85061.0% |
| Recurring financial income | 75 | €1 | €894 | +€893 | +85061.0% |
| Financial charges | 65/66B | €7,513 | €17,186 | +€9,673 | +128.8% |
| Recurring financial charges | 65 | €7,513 | €17,186 | +€9,673 | +128.8% |
| Profit (loss) for the period before taxes | 9903 | -€453 | €26,802 | +€27,255 | |
| Income taxes | 67/77 | €702 | €11,117 | +€10,415 | +1484.4% |
| Profit (loss) for the period | 9904 | -€1,155 | €15,685 | +€16,840 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,155 | €15,685 | +€16,840 |
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 9 October 2026 via checked.be.