Studio39: 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.
Studio39
Largest movements
- Cash -€34,427
down €34,427 (-53.6%), from €64,243 to €29,817
mainly Contributions, distributions and other (-€120,000) and Other debts (-€71,768)
- Receivables within one year -€27,933
down €27,933 (-19.4%), from €144,121 to €116,188
of which Trade receivables: -€28,215
- Other debts -€71,768
down €71,768 (-34.9%), from €205,819 to €134,051
- Reserves +€14,944
up €14,944 (+803.4%), from €1,860 to €16,804
of which Distributable reserves: +€14,944
- Tax, wage and social debts -€5,037
down €5,037 (-11.5%), from €43,920 to €38,883
- Gross operating margin -€48,628
down €48,628 (-20.8%), from €233,979 to €185,351
- Taxes -€11,655
down €11,655 (-22.7%), from €51,373 to €39,718
- Depreciation +€4,592
up €4,592 (+87.6%), from €5,241 to €9,833
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 | €273,382 | €211,922 | -€61,460 | -22.5% |
| Fixed assets | 21/28 | €65,018 | €65,918 | +€899 | +1.4% |
| Tangible fixed assets | 22/27 | €65,018 | €65,918 | +€899 | +1.4% |
| Plant, machinery and equipment | 23 | €5,151 | €10,959 | +€5,808 | +112.8% |
| Furniture and vehicles | 24 | €19,985 | €17,227 | -€2,757 | -13.8% |
| Other tangible fixed assets | 26 | €39,883 | €37,732 | -€2,151 | -5.4% |
| Current assets | 29/58 | €208,364 | €146,004 | -€62,360 | -29.9% |
| Amounts receivable within one year | 40/41 | €144,121 | €116,188 | -€27,933 | -19.4% |
| Trade receivables | 40 | €144,121 | €115,906 | -€28,215 | -19.6% |
| Other amounts receivable | 41 | - | €282 | +€282 | |
| Cash at bank and in hand | 54/58 | €64,243 | €29,817 | -€34,427 | -53.6% |
| Total equity and liabilities | 10/49 | €273,382 | €211,922 | -€61,460 | -22.5% |
| Equity | 10/15 | €20,460 | €35,404 | +€14,944 | +73.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €16,804 | +€14,944 | +803.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €14,944 | +€14,944 | |
| Amounts payable | 17/49 | €252,922 | €176,519 | -€76,404 | -30.2% |
| Amounts payable within one year | 42/48 | €252,194 | €173,277 | -€78,917 | -31.3% |
| Trade debts | 44 | €2,455 | €343 | -€2,112 | -86.0% |
| Suppliers | 440/4 | €2,455 | €343 | -€2,112 | -86.0% |
| Taxes, remuneration and social security | 45 | €43,920 | €38,883 | -€5,037 | -11.5% |
| Taxes | 450/3 | €43,920 | €38,883 | -€5,037 | -11.5% |
| Other amounts payable | 47/48 | €205,819 | €134,051 | -€71,768 | -34.9% |
| Accrued charges and deferred income | 492/3 | €729 | €3,241 | +€2,513 | +344.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,241 | €9,833 | +€4,592 | +87.6% |
| Other operating charges | 640/8 | €505 | €637 | +€131 | +26.0% |
| Gross operating margin | 9900 | €233,979 | €185,351 | -€48,628 | -20.8% |
| Operating profit (loss) | 9901 | €228,233 | €174,882 | -€53,351 | -23.4% |
| Financial charges | 65/66B | €48 | €220 | +€173 | +363.8% |
| Recurring financial charges | 65 | €48 | €220 | +€173 | +363.8% |
| Profit (loss) for the period before taxes | 9903 | €228,185 | €174,662 | -€53,524 | -23.5% |
| Income taxes | 67/77 | €51,373 | €39,718 | -€11,655 | -22.7% |
| Profit (loss) for the period | 9904 | €176,812 | €134,944 | -€41,869 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €176,812 | €134,944 | -€41,869 | -23.7% |
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.