STUDIO TEO: 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 TEO
Largest movements
- Tangible fixed assets -€21,112
down €21,112 (-7.4%), from €284,542 to €263,430
of which Land and buildings: -€19,017
- Receivables within one year -€9,472
down €9,472 (-86.8%), from €10,919 to €1,447
- Debts after one year -€12,582
down €12,582 (-4.2%), from €302,614 to €290,033
- Trade debts -€11,832
down €11,832 (-98.8%), from €11,978 to €146
- Other debts -€3,384
down €3,384 (-10.8%), from €31,437 to €28,053
- Accrued charges and deferred income -€3,345
down €3,345 (-51.9%), from €6,440 to €3,095
- Gross operating margin +€48,433
up €48,433, from -€11,558 to €36,875
- Depreciation -€18,749
down €18,749 (-45.8%), from €40,957 to €22,208
- Financial charges +€3,772
up €3,772 (+49.4%), from €7,632 to €11,404
- Other operating charges +€603
up €603 (+13.5%), from €4,460 to €5,064
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 | €310,105 | €278,017 | -€32,088 | -10.3% |
| Fixed assets | 21/28 | €284,542 | €263,430 | -€21,112 | -7.4% |
| Tangible fixed assets | 22/27 | €284,542 | €263,430 | -€21,112 | -7.4% |
| Land and buildings | 22 | €264,647 | €245,631 | -€19,017 | -7.2% |
| Plant, machinery and equipment | 23 | €19,894 | €17,799 | -€2,096 | -10.5% |
| Current assets | 29/58 | €25,563 | €14,588 | -€10,975 | -42.9% |
| Stocks and contracts in progress | 3 | €238 | €46 | -€192 | -80.5% |
| Stocks | 30/36 | €238 | €46 | -€192 | -80.5% |
| Amounts receivable within one year | 40/41 | €10,919 | €1,447 | -€9,472 | -86.8% |
| Trade receivables | 40 | €10,919 | €1,447 | -€9,472 | -86.8% |
| Cash at bank and in hand | 54/58 | €14,351 | €12,340 | -€2,011 | -14.0% |
| Deferred charges and accrued income | 490/1 | €55 | €755 | +€700 | +1264.3% |
| Total equity and liabilities | 10/49 | €310,105 | €278,017 | -€32,088 | -10.3% |
| Equity | 10/15 | -€59,509 | -€61,301 | -€1,792 | -3.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,509 | -€66,301 | -€1,792 | -2.8% |
| Amounts payable | 17/49 | €369,613 | €339,318 | -€30,295 | -8.2% |
| Amounts payable after more than one year | 17 | €302,614 | €290,033 | -€12,582 | -4.2% |
| Financial debts | 170/4 | €302,614 | €290,033 | -€12,582 | -4.2% |
| Amounts payable within one year | 42/48 | €60,559 | €46,190 | -€14,369 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €14,404 | €14,766 | +€362 | +2.5% |
| Trade debts | 44 | €11,978 | €146 | -€11,832 | -98.8% |
| Suppliers | 440/4 | €11,978 | €146 | -€11,832 | -98.8% |
| Taxes, remuneration and social security | 45 | €2,741 | €3,226 | +€485 | +17.7% |
| Taxes | 450/3 | €2,741 | €3,226 | +€485 | +17.7% |
| Other amounts payable | 47/48 | €31,437 | €28,053 | -€3,384 | -10.8% |
| Accrued charges and deferred income | 492/3 | €6,440 | €3,095 | -€3,345 | -51.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,957 | €22,208 | -€18,749 | -45.8% |
| Other operating charges | 640/8 | €4,460 | €5,064 | +€603 | +13.5% |
| Gross operating margin | 9900 | -€11,558 | €36,875 | +€48,433 | |
| Operating profit (loss) | 9901 | -€56,976 | €9,603 | +€66,579 | |
| Financial income | 75/76B | €99 | €9 | -€90 | -91.0% |
| Recurring financial income | 75 | €99 | €9 | -€90 | -91.0% |
| Financial charges | 65/66B | €7,632 | €11,404 | +€3,772 | +49.4% |
| Recurring financial charges | 65 | €7,632 | €11,404 | +€3,772 | +49.4% |
| Profit (loss) for the period before taxes | 9903 | -€64,509 | -€1,792 | +€62,716 | +97.2% |
| Profit (loss) for the period | 9904 | -€64,509 | -€1,792 | +€62,716 | +97.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,509 | -€1,792 | +€62,716 | +97.2% |
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 7 October 2026 via checked.be.