UPCYCLING STUDIO: 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.
UPCYCLING STUDIO
Largest movements
- Tangible fixed assets +€1,569
up €1,569 (+63.7%), from €2,464 to €4,033
of which Other tangible fixed assets: +€2,107
- Receivables within one year +€1,254
up €1,254 (+2,102%), from €60 to €1,313
of which Trade receivables: +€840
- Other debts +€1,590
up €1,590 (+2.9%), from €54,113 to €55,703
- Trade debts +€674
up €674 (+146%), from €462 to €1,136
- Profit (loss) carried forward +€532
up €532 (+0.7%), from -€71,522 to -€70,990
- Gross operating margin -€537
down €537 (-24.1%), from €2,229 to €1,692
- Depreciation +€482
up €482 (+215%), from €224 to €706
- Financial charges -€36
down €36 (-39.7%), from €90 to €54
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 | €2,553 | €5,349 | +€2,796 | +109% |
| Fixed assets | 21/28 | €2,464 | €4,033 | +€1,569 | +63.7% |
| Tangible fixed assets | 22/27 | €2,464 | €4,033 | +€1,569 | +63.7% |
| Furniture and vehicles | 24 | €2,464 | €1,927 | -€538 | -21.8% |
| Other tangible fixed assets | 26 | - | €2,107 | +€2,107 | |
| Current assets | 29/58 | €89 | €1,316 | +€1,227 | +1,380% |
| Amounts receivable within one year | 40/41 | €60 | €1,313 | +€1,254 | +2,102% |
| Trade receivables | 40 | - | €840 | +€840 | |
| Other amounts receivable | 41 | €60 | €473 | +€414 | +693% |
| Cash at bank and in hand | 54/58 | €29 | €3 | -€27 | -91.1% |
| Total equity and liabilities | 10/49 | €2,553 | €5,349 | +€2,796 | +109% |
| Equity | 10/15 | -€52,022 | -€51,490 | +€532 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €900 | €900 | = | 0.0% |
| Distributable reserves | 133 | €900 | €900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,522 | -€70,990 | +€532 | +0.7% |
| Amounts payable | 17/49 | €54,575 | €56,839 | +€2,264 | +4.1% |
| Amounts payable within one year | 42/48 | €54,575 | €56,839 | +€2,264 | +4.1% |
| Trade debts | 44 | €462 | €1,136 | +€674 | +146% |
| Suppliers | 440/4 | €462 | €1,136 | +€674 | +146% |
| Other amounts payable | 47/48 | €54,113 | €55,703 | +€1,590 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224 | €706 | +€482 | +215% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €2,229 | €1,692 | -€537 | -24.1% |
| Operating profit (loss) | 9901 | €1,618 | €586 | -€1,032 | -63.8% |
| Financial charges | 65/66B | €90 | €54 | -€36 | -39.7% |
| Recurring financial charges | 65 | €90 | €54 | -€36 | -39.7% |
| Profit (loss) for the period before taxes | 9903 | €1,528 | €532 | -€996 | -65.2% |
| Profit (loss) for the period | 9904 | €1,528 | €532 | -€996 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,528 | €532 | -€996 | -65.2% |
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 23 October 2026 via checked.be.