STUD DE NYZE: 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.
STUD DE NYZE
Largest movements
- Cash -€322,367
down €322,367 (-31.3%), from €1.0m to €706,074
mainly Investment in fixed assets (net) (-€262,116) and Receivables within one year (-€183,400)
- Tangible fixed assets +€205,573
up €205,573 (+33.3%), from €617,420 to €822,993
of which Land and buildings: +€149,433
- Receivables within one year +€183,400
up €183,400 (+171%), from €106,983 to €290,383
of which Trade receivables: +€279,109
- Tax, wage and social debts +€64,147
up €64,147 (+30,977%), from €207 to €64,354
- Debts after one year -€49,516
down €49,516 (-9.9%), from €501,772 to €452,256
- Other debts +€33,320
up €33,320 (+5.2%), from €643,106 to €676,425
- Gross operating margin -€1.2m
down €1.2m (-90.7%), from €1.3m to €125,313
- Taxes -€231,430
down €231,430, from €224,204 to -€7,226
- Depreciation +€17,103
up €17,103 (+42.3%), from €40,462 to €57,565
- Financial charges -€15,851
down €15,851 (-20.0%), from €79,064 to €63,212
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 | €2,085,575 | €2,132,981 | +€47,406 | +2.3% |
| Fixed assets | 21/28 | €620,763 | €825,313 | +€204,551 | +33.0% |
| Intangible fixed assets | 21 | €3,343 | €2,320 | -€1,022 | -30.6% |
| Tangible fixed assets | 22/27 | €617,420 | €822,993 | +€205,573 | +33.3% |
| Land and buildings | 22 | €403,449 | €552,883 | +€149,433 | +37.0% |
| Plant, machinery and equipment | 23 | €79,867 | €64,312 | -€15,554 | -19.5% |
| Furniture and vehicles | 24 | €30,075 | €22,610 | -€7,465 | -24.8% |
| Leasing and similar rights | 25 | €71,613 | €49,509 | -€22,104 | -30.9% |
| Assets under construction and advance payments | 27 | €32,417 | €133,680 | +€101,263 | +312% |
| Current assets | 29/58 | €1,464,813 | €1,307,668 | -€157,145 | -10.7% |
| Stocks and contracts in progress | 3 | €328,900 | €309,400 | -€19,500 | -5.9% |
| Stocks | 30/36 | €328,900 | €309,400 | -€19,500 | -5.9% |
| Amounts receivable within one year | 40/41 | €106,983 | €290,383 | +€183,400 | +171% |
| Trade receivables | 40 | €10,686 | €289,795 | +€279,109 | +2,612% |
| Other amounts receivable | 41 | €96,297 | €588 | -€95,709 | -99.4% |
| Cash at bank and in hand | 54/58 | €1,028,441 | €706,074 | -€322,367 | -31.3% |
| Deferred charges and accrued income | 490/1 | €489 | €1,811 | +€1,322 | +271% |
| Total equity and liabilities | 10/49 | €2,085,575 | €2,132,981 | +€47,406 | +2.3% |
| Equity | 10/15 | €802,961 | €818,339 | +€15,379 | +1.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €801,961 | €817,339 | +€15,379 | +1.9% |
| Distributable reserves | 133 | €801,961 | €817,339 | +€15,379 | +1.9% |
| Amounts payable | 17/49 | €1,282,615 | €1,314,642 | +€32,027 | +2.5% |
| Amounts payable after more than one year | 17 | €501,772 | €452,256 | -€49,516 | -9.9% |
| Financial debts | 170/4 | €501,772 | €452,256 | -€49,516 | -9.9% |
| Amounts payable within one year | 42/48 | €727,962 | €819,419 | +€91,457 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €48,748 | €49,516 | +€768 | +1.6% |
| Trade debts | 44 | €35,901 | €29,124 | -€6,777 | -18.9% |
| Suppliers | 440/4 | €35,901 | €29,124 | -€6,777 | -18.9% |
| Taxes, remuneration and social security | 45 | €207 | €64,354 | +€64,147 | +30,977% |
| Taxes | 450/3 | €207 | €64,354 | +€64,147 | +30,977% |
| Other amounts payable | 47/48 | €643,106 | €676,425 | +€33,320 | +5.2% |
| Accrued charges and deferred income | 492/3 | €52,881 | €42,967 | -€9,914 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,462 | €57,565 | +€17,103 | +42.3% |
| Other operating charges | 640/8 | €2,102 | €5,307 | +€3,205 | +152% |
| Non-recurring operating charges | 66A | €316,595 | €0 | -€316,595 | -100% |
| Gross operating margin | 9900 | €1,344,168 | €125,313 | -€1.2m | -90.7% |
| Operating profit (loss) | 9901 | €985,009 | €62,441 | -€922,568 | -93.7% |
| Financial income | 75/76B | €4,384 | €8,924 | +€4,541 | +104% |
| Recurring financial income | 75 | €4,384 | €8,924 | +€4,541 | +104% |
| Financial charges | 65/66B | €79,064 | €63,212 | -€15,851 | -20.0% |
| Recurring financial charges | 65 | €79,064 | €63,212 | -€15,851 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €910,329 | €8,153 | -€902,176 | -99.1% |
| Income taxes | 67/77 | €224,204 | -€7,226 | -€231,430 | |
| Profit (loss) for the period | 9904 | €686,125 | €15,379 | -€670,746 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | €686,125 | €15,379 | -€670,746 | -97.8% |
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 15 October 2026 via checked.be.