THE STUDIO BY SEVDA: what changed
THE STUDIO BY SEVDA
Largest movements
- Receivables within one year +€17,310
up €17,310 (+63.8%), from €27,118 to €44,427
of which Other amounts receivable: +€21,066
- Stocks and contracts -€4,127
down €4,127 (-21.2%), from €19,509 to €15,383
- Tangible fixed assets +€1,811
up €1,811 (+75.7%), from €2,392 to €4,203
of which Land and buildings: +€2,599
- Cash -€1,369
down €1,369 (-11.3%), from €12,161 to €10,792
mainly Receivables within one year (-€17,310) and Trade debts (-€5,257)
- Reserves +€13,086
up €13,086 (+181%), from €7,217 to €20,303
- Trade debts -€5,257
down €5,257 (-76.5%), from €6,874 to €1,617
- Current portion of long-term debt +€5,132
new in 2025: €5,132
- Tax, wage and social debts +€854
up €854 (+3.4%), from €25,459 to €26,313
of which Remuneration and social security: +€1,016
- Gross operating margin +€21,395
up €21,395 (+27.1%), from €78,851 to €100,246
- Staff costs +€12,080
up €12,080 (+18.4%), from €65,646 to €77,726
- Other operating charges -€5,387
down €5,387 (-91.6%), from €5,884 to €497
- Taxes +€3,533
up €3,533 (+143%), from €2,475 to €6,008
- Financial charges +€1,363
up €1,363 (+77.5%), from €1,759 to €3,122
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €65,159 | €78,974 | +€13,816 | +21.2% |
| Fixed assets | 21/28 | €5,392 | €7,203 | +€1,811 | +33.6% |
| Tangible fixed assets | 22/27 | €2,392 | €4,203 | +€1,811 | +75.7% |
| Land and buildings | 22 | - | €2,599 | +€2,599 | |
| Plant, machinery and equipment | 23 | €1,499 | €1,019 | -€480 | -32.0% |
| Furniture and vehicles | 24 | €893 | €585 | -€308 | -34.5% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €59,767 | €71,771 | +€12,004 | +20.1% |
| Stocks and contracts in progress | 3 | €19,509 | €15,383 | -€4,127 | -21.2% |
| Stocks | 30/36 | €19,509 | €15,383 | -€4,127 | -21.2% |
| Amounts receivable within one year | 40/41 | €27,118 | €44,427 | +€17,310 | +63.8% |
| Trade receivables | 40 | €3,757 | - | -€3,757 | |
| Other amounts receivable | 41 | €23,361 | €44,427 | +€21,066 | +90.2% |
| Cash at bank and in hand | 54/58 | €12,161 | €10,792 | -€1,369 | -11.3% |
| Deferred charges and accrued income | 490/1 | €978 | €1,169 | +€191 | +19.5% |
| Total equity and liabilities | 10/49 | €65,159 | €78,974 | +€13,816 | +21.2% |
| Equity | 10/15 | €32,826 | €45,912 | +€13,086 | +39.9% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €7,217 | €20,303 | +€13,086 | +181% |
| Distributable reserves | 133 | €7,217 | €20,303 | +€13,086 | +181% |
| Profit (loss) carried forward | 14 | €6,608 | €6,608 | = | 0.0% |
| Amounts payable | 17/49 | €32,333 | €33,063 | +€730 | +2.3% |
| Amounts payable within one year | 42/48 | €32,333 | €33,063 | +€730 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | - | €5,132 | +€5,132 | |
| Trade debts | 44 | €6,874 | €1,617 | -€5,257 | -76.5% |
| Suppliers | 440/4 | €6,874 | €1,617 | -€5,257 | -76.5% |
| Taxes, remuneration and social security | 45 | €25,459 | €26,313 | +€854 | +3.4% |
| Taxes | 450/3 | €15,827 | €15,666 | -€162 | -1.0% |
| Remuneration and social security | 454/9 | €9,632 | €10,648 | +€1,016 | +10.5% |
| Remuneration, social security and pensions | 62 | €65,646 | €77,726 | +€12,080 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €788 | €1,489 | +€701 | +88.9% |
| Other operating charges | 640/8 | €5,884 | €497 | -€5,387 | -91.6% |
| Gross operating margin | 9900 | €78,851 | €100,246 | +€21,395 | +27.1% |
| Operating profit (loss) | 9901 | €6,533 | €20,534 | +€14,001 | +214% |
| Financial income | 75/76B | €1,226 | €1,682 | +€456 | +37.2% |
| Recurring financial income | 75 | €1,226 | €1,682 | +€456 | +37.2% |
| Financial charges | 65/66B | €1,759 | €3,122 | +€1,363 | +77.5% |
| Recurring financial charges | 65 | €1,759 | €3,122 | +€1,363 | +77.5% |
| Profit (loss) for the period before taxes | 9903 | €6,000 | €19,094 | +€13,094 | +218% |
| Income taxes | 67/77 | €2,475 | €6,008 | +€3,533 | +143% |
| Profit (loss) for the period | 9904 | €3,525 | €13,086 | +€9,561 | +271% |
| Profit (loss) for the period to be appropriated | 9905 | €3,525 | €13,086 | +€9,561 | +271% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.