TWO STUDIOS: 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.
TWO STUDIOS
Largest movements
- Receivables within one year +€17,778
up €17,778 (+22.6%), from €78,838 to €96,616
of which Other amounts receivable: +€17,033
- Cash +€8,872
up €8,872 (+26.1%), from €34,052 to €42,923
mainly Other debts (+€49,993) and Net result for the year (+€25,972)
- Tangible fixed assets -€3,262
down €3,262 (-16.4%), from €19,876 to €16,615
of which Other tangible fixed assets: -€2,593
- Other debts +€49,993
up €49,993 (+1,609%), from €3,108 to €53,101
- Reserves -€27,129
down €27,129 (-27.1%), from €99,969 to €72,840
- Tax, wage and social debts +€4,709
up €4,709 (+81.3%), from €5,789 to €10,497
of which Taxes: +€4,709
- Trade debts -€4,185
down €4,185 (-78.9%), from €5,302 to €1,117
- Gross operating margin -€3,424
down €3,424 (-7.7%), from €44,366 to €40,942
- Financial income +€671
up €671 (+27.5%), from €2,434 to €3,105
- Taxes -€605
down €605 (-4.3%), from €14,158 to €13,552
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 | €132,767 | €156,155 | +€23,388 | +17.6% |
| Fixed assets | 21/28 | €19,877 | €16,616 | -€3,262 | -16.4% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €19,876 | €16,615 | -€3,262 | -16.4% |
| Furniture and vehicles | 24 | €1,099 | €430 | -€668 | -60.8% |
| Other tangible fixed assets | 26 | €18,778 | €16,185 | -€2,593 | -13.8% |
| Current assets | 29/58 | €112,890 | €139,540 | +€26,650 | +23.6% |
| Amounts receivable within one year | 40/41 | €78,838 | €96,616 | +€17,778 | +22.6% |
| Trade receivables | 40 | €12,788 | €13,532 | +€745 | +5.8% |
| Other amounts receivable | 41 | €66,051 | €83,084 | +€17,033 | +25.8% |
| Cash at bank and in hand | 54/58 | €34,052 | €42,923 | +€8,872 | +26.1% |
| Total equity and liabilities | 10/49 | €132,767 | €156,155 | +€23,388 | +17.6% |
| Equity | 10/15 | €118,569 | €91,440 | -€27,129 | -22.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,969 | €72,840 | -€27,129 | -27.1% |
| Distributable reserves | 133 | €99,969 | €72,840 | -€27,129 | -27.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,198 | €64,715 | +€50,517 | +356% |
| Amounts payable within one year | 42/48 | €14,198 | €64,715 | +€50,517 | +356% |
| Trade debts | 44 | €5,302 | €1,117 | -€4,185 | -78.9% |
| Suppliers | 440/4 | €5,302 | €1,117 | -€4,185 | -78.9% |
| Taxes, remuneration and social security | 45 | €5,789 | €10,497 | +€4,709 | +81.3% |
| Taxes | 450/3 | €4,839 | €9,547 | +€4,709 | +97.3% |
| Remuneration and social security | 454/9 | €950 | €950 | = | 0.0% |
| Other amounts payable | 47/48 | €3,108 | €53,101 | +€49,993 | +1,609% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,225 | €3,262 | +€37 | +1.1% |
| Other operating charges | 640/8 | €1,102 | €1,193 | +€90 | +8.2% |
| Gross operating margin | 9900 | €44,366 | €40,942 | -€3,424 | -7.7% |
| Operating profit (loss) | 9901 | €40,039 | €36,487 | -€3,551 | -8.9% |
| Financial income | 75/76B | €2,434 | €3,105 | +€671 | +27.5% |
| Recurring financial income | 75 | €2,434 | €3,105 | +€671 | +27.5% |
| Financial charges | 65/66B | €138 | €67 | -€71 | -51.2% |
| Recurring financial charges | 65 | €138 | €67 | -€71 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | €42,335 | €39,525 | -€2,810 | -6.6% |
| Income taxes | 67/77 | €14,158 | €13,552 | -€605 | -4.3% |
| Profit (loss) for the period | 9904 | €28,177 | €25,972 | -€2,205 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,177 | €25,972 | -€2,205 | -7.8% |
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 22 October 2026 via checked.be.