Studio Steel: 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 Steel
Largest movements
- Receivables within one year +€91,910
up €91,910 (+123%), from €74,976 to €166,886
of which Other amounts receivable: +€81,825
- Stocks and contracts -€7,991
down €7,991 (-13.7%), from €58,433 to €50,442
- Cash -€2,715
down €2,715 (-12.1%), from €22,351 to €19,636
mainly Receivables within one year (-€91,910) and Current portion of long-term debt (-€63,336)
- Current portion of long-term debt -€63,336
down €63,336 (-95.5%), from €66,336 to €3,000
- Profit (loss) carried forward +€58,172
up €58,172, from -€13,378 to €44,794
- Trade debts +€52,221
up €52,221 (+53.7%), from €97,333 to €149,554
- Tax, wage and social debts +€34,740
up €34,740 (+818%), from €4,249 to €38,990
of which Taxes: +€23,699
- Staff costs +€30,754
up €30,754 (+45.8%), from €67,166 to €97,920
- Gross operating margin +€28,551
up €28,551 (+19.8%), from €144,168 to €172,719
- Taxes +€13,442
new in 2025: €13,442
- Other operating charges -€4,176
down €4,176 (-88.9%), from €4,695 to €520
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 | €161,977 | €244,135 | +€82,157 | +50.7% |
| Fixed assets | 21/28 | €6,217 | €6,942 | +€725 | +11.7% |
| Tangible fixed assets | 22/27 | €6,217 | €6,592 | +€375 | +6.0% |
| Plant, machinery and equipment | 23 | €2,691 | €3,822 | +€1,130 | +42.0% |
| Furniture and vehicles | 24 | €942 | €650 | -€292 | -31.0% |
| Other tangible fixed assets | 26 | €2,584 | €2,120 | -€464 | -18.0% |
| Financial fixed assets | 28 | - | €350 | +€350 | |
| Current assets | 29/58 | €155,760 | €237,193 | +€81,433 | +52.3% |
| Stocks and contracts in progress | 3 | €58,433 | €50,442 | -€7,991 | -13.7% |
| Stocks | 30/36 | €58,433 | €50,442 | -€7,991 | -13.7% |
| Amounts receivable within one year | 40/41 | €74,976 | €166,886 | +€91,910 | +123% |
| Trade receivables | 40 | €50,303 | €60,387 | +€10,084 | +20.0% |
| Other amounts receivable | 41 | €24,674 | €106,499 | +€81,825 | +332% |
| Cash at bank and in hand | 54/58 | €22,351 | €19,636 | -€2,715 | -12.1% |
| Deferred charges and accrued income | 490/1 | €0 | €229 | +€229 | |
| Total equity and liabilities | 10/49 | €161,977 | €244,135 | +€82,157 | +50.7% |
| Equity | 10/15 | -€8,378 | €49,794 | +€58,172 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,378 | €44,794 | +€58,172 | |
| Amounts payable | 17/49 | €170,355 | €194,341 | +€23,985 | +14.1% |
| Amounts payable within one year | 42/48 | €170,043 | €193,957 | +€23,913 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €66,336 | €3,000 | -€63,336 | -95.5% |
| Trade debts | 44 | €97,333 | €149,554 | +€52,221 | +53.7% |
| Suppliers | 440/4 | €97,333 | €149,554 | +€52,221 | +53.7% |
| Taxes, remuneration and social security | 45 | €4,249 | €38,990 | +€34,740 | +818% |
| Taxes | 450/3 | €0 | €23,699 | +€23,699 | |
| Remuneration and social security | 454/9 | €4,249 | €15,291 | +€11,041 | +260% |
| Other amounts payable | 47/48 | €2,125 | €2,413 | +€288 | +13.5% |
| Accrued charges and deferred income | 492/3 | €312 | €384 | +€72 | +23.1% |
| Remuneration, social security and pensions | 62 | €67,166 | €97,920 | +€30,754 | +45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,905 | €2,425 | +€520 | +27.3% |
| Other operating charges | 640/8 | €4,695 | €520 | -€4,176 | -88.9% |
| Gross operating margin | 9900 | €144,168 | €172,719 | +€28,551 | +19.8% |
| Operating profit (loss) | 9901 | €70,401 | €71,855 | +€1,453 | +2.1% |
| Financial income | 75/76B | €171 | €15 | -€157 | -91.4% |
| Recurring financial income | 75 | €171 | €15 | -€157 | -91.4% |
| Financial charges | 65/66B | €318 | €255 | -€63 | -19.7% |
| Recurring financial charges | 65 | €318 | €255 | -€63 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €70,255 | €71,614 | +€1,359 | +1.9% |
| Income taxes | 67/77 | - | €13,442 | +€13,442 | |
| Profit (loss) for the period | 9904 | €70,255 | €58,172 | -€12,083 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €70,255 | €58,172 | -€12,083 | -17.2% |
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 25 October 2026 via checked.be.