STUDIO VERDUYN: 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 VERDUYN
Largest movements
- Cash +€74,856
up €74,856 (+75.6%), from €99,027 to €173,883
mainly Net result for the year (+€49,568) and Tax, wage and social debts (+€28,519)
- Deferred charges and accrued income +€4,228
up €4,228 (+183.1%), from €2,309 to €6,536
- Tangible fixed assets -€3,523
down €3,523 (-4.2%), from €83,686 to €80,162
of which Other tangible fixed assets: -€5,436
- Reserves +€48,237
up €48,237 (+48.3%), from €99,930 to €148,167
- Tax, wage and social debts +€28,519
up €28,519 (+227.5%), from €12,535 to €41,054
- Debts after one year -€6,174
down €6,174 (-85.6%), from €7,212 to €1,039
- Accrued charges and deferred income -€3,379
down €3,379 (-39.6%), from €8,524 to €5,145
- Other debts +€3,249
up €3,249 (+4.7%), from €69,374 to €72,623
- Write-downs -€35,000
down €35,000 (-100.0%), from €35,000 to €0
- Gross operating margin +€14,043
up €14,043 (+16.7%), from €84,129 to €98,171
- Taxes +€13,250
up €13,250 (+168.0%), from €7,884 to €21,134
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 | €206,001 | €280,007 | +€74,006 | +35.9% |
| Fixed assets | 21/28 | €84,071 | €80,162 | -€3,908 | -4.6% |
| Intangible fixed assets | 21 | €385 | €0 | -€385 | -100.0% |
| Tangible fixed assets | 22/27 | €83,686 | €80,162 | -€3,523 | -4.2% |
| Plant, machinery and equipment | 23 | €36,138 | €31,775 | -€4,363 | -12.1% |
| Furniture and vehicles | 24 | €4,908 | €11,183 | +€6,275 | +127.9% |
| Other tangible fixed assets | 26 | €42,640 | €37,204 | -€5,436 | -12.7% |
| Current assets | 29/58 | €121,930 | €199,845 | +€77,915 | +63.9% |
| Stocks and contracts in progress | 3 | €647 | €197 | -€450 | -69.5% |
| Stocks | 30/36 | €647 | €197 | -€450 | -69.5% |
| Amounts receivable within one year | 40/41 | €19,947 | €19,228 | -€719 | -3.6% |
| Trade receivables | 40 | €12,977 | €16,955 | +€3,978 | +30.7% |
| Other amounts receivable | 41 | €6,970 | €2,272 | -€4,697 | -67.4% |
| Cash at bank and in hand | 54/58 | €99,027 | €173,883 | +€74,856 | +75.6% |
| Deferred charges and accrued income | 490/1 | €2,309 | €6,536 | +€4,228 | +183.1% |
| Total equity and liabilities | 10/49 | €206,001 | €280,007 | +€74,006 | +35.9% |
| Equity | 10/15 | €100,099 | €149,667 | +€49,568 | +49.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €99,930 | €148,167 | +€48,237 | +48.3% |
| Distributable reserves | 133 | €99,930 | €148,167 | +€48,237 | +48.3% |
| Profit (loss) carried forward | 14 | -€1,331 | €0 | +€1,331 | |
| Amounts payable | 17/49 | €105,902 | €130,340 | +€24,439 | +23.1% |
| Amounts payable after more than one year | 17 | €7,212 | €1,039 | -€6,174 | -85.6% |
| Financial debts | 170/4 | €7,212 | €1,039 | -€6,174 | -85.6% |
| Amounts payable within one year | 42/48 | €90,166 | €124,157 | +€33,991 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €6,077 | €6,174 | +€96 | +1.6% |
| Financial debts | 43 | €307 | €262 | -€45 | -14.6% |
| Credit institutions | 430/8 | €307 | €262 | -€45 | -14.6% |
| Trade debts | 44 | €1,872 | €4,044 | +€2,171 | +116.0% |
| Suppliers | 440/4 | €1,872 | €4,044 | +€2,171 | +116.0% |
| Taxes, remuneration and social security | 45 | €12,535 | €41,054 | +€28,519 | +227.5% |
| Taxes | 450/3 | €12,535 | €41,054 | +€28,519 | +227.5% |
| Other amounts payable | 47/48 | €69,374 | €72,623 | +€3,249 | +4.7% |
| Accrued charges and deferred income | 492/3 | €8,524 | €5,145 | -€3,379 | -39.6% |
| Non-recurring operating income | 76A | €12,682 | €0 | -€12,682 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,805 | €19,660 | -€145 | -0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,000 | €0 | -€35,000 | -100.0% |
| Other operating charges | 640/8 | €1,675 | €1,831 | +€156 | +9.3% |
| Non-recurring operating charges | 66A | €234 | €0 | -€234 | -100.0% |
| Gross operating margin | 9900 | €84,129 | €98,171 | +€14,043 | +16.7% |
| Operating profit (loss) | 9901 | €27,414 | €76,680 | +€49,266 | +179.7% |
| Financial income | 75/76B | €523 | €138 | -€385 | -73.6% |
| Recurring financial income | 75 | €523 | €138 | -€385 | -73.6% |
| Financial charges | 65/66B | €6,549 | €6,117 | -€433 | -6.6% |
| Recurring financial charges | 65 | €6,549 | €6,117 | -€433 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €21,388 | €70,702 | +€49,314 | +230.6% |
| Income taxes | 67/77 | €7,884 | €21,134 | +€13,250 | +168.0% |
| Profit (loss) for the period | 9904 | €13,503 | €49,568 | +€36,064 | +267.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,503 | €49,568 | +€36,064 | +267.1% |
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 3 October 2026 via checked.be.