Studek: 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.
Studek
Largest movements
- Current investments +€100,980
new in 2025: €100,980
- Receivables within one year +€17,535
up €17,535 (+107%), from €16,345 to €33,880
- Cash -€4,962
down €4,962 (-5.4%), from €92,514 to €87,552
mainly Current investments (-€100,980) and Receivables within one year (-€17,535)
- Reserves +€102,000
up €102,000 (+114%), from €89,860 to €191,860
- Tax, wage and social debts +€5,361
up €5,361 (+34.1%), from €15,702 to €21,062
of which Taxes: +€3,611
- Other debts +€4,842
up €4,842 (+46.3%), from €10,453 to €15,295
- Gross operating margin +€11,645
up €11,645 (+9.1%), from €128,126 to €139,772
- Taxes -€2,196
down €2,196 (-6.0%), from €36,764 to €34,568
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 | €117,149 | €228,997 | +€111,848 | +95.5% |
| Fixed assets | 21/28 | €8,035 | €6,326 | -€1,709 | -21.3% |
| Tangible fixed assets | 22/27 | €8,035 | €6,326 | -€1,709 | -21.3% |
| Plant, machinery and equipment | 23 | €117 | €59 | -€59 | -50.0% |
| Furniture and vehicles | 24 | €7,918 | €6,267 | -€1,651 | -20.8% |
| Current assets | 29/58 | €109,114 | €222,671 | +€113,557 | +104% |
| Amounts receivable within one year | 40/41 | €16,345 | €33,880 | +€17,535 | +107% |
| Trade receivables | 40 | €16,345 | €33,880 | +€17,535 | +107% |
| Current investments | 50/53 | - | €100,980 | +€100,980 | |
| Cash at bank and in hand | 54/58 | €92,514 | €87,552 | -€4,962 | -5.4% |
| Deferred charges and accrued income | 490/1 | €255 | €259 | +€4 | +1.4% |
| Total equity and liabilities | 10/49 | €117,149 | €228,997 | +€111,848 | +95.5% |
| Equity | 10/15 | €90,854 | €192,030 | +€101,175 | +111% |
| Reserves | 13 | €89,860 | €191,860 | +€102,000 | +114% |
| Distributable reserves | 133 | €89,860 | €191,860 | +€102,000 | +114% |
| Profit (loss) carried forward | 14 | €994 | €170 | -€825 | -82.9% |
| Amounts payable | 17/49 | €26,295 | €36,967 | +€10,672 | +40.6% |
| Amounts payable within one year | 42/48 | €26,295 | €36,967 | +€10,672 | +40.6% |
| Trade debts | 44 | €140 | €610 | +€470 | +336% |
| Suppliers | 440/4 | €140 | €610 | +€470 | +336% |
| Taxes, remuneration and social security | 45 | €15,702 | €21,062 | +€5,361 | +34.1% |
| Taxes | 450/3 | €15,702 | €19,312 | +€3,611 | +23.0% |
| Remuneration and social security | 454/9 | - | €1,750 | +€1,750 | |
| Other amounts payable | 47/48 | €10,453 | €15,295 | +€4,842 | +46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,609 | €1,709 | +€100 | +6.2% |
| Other operating charges | 640/8 | €499 | €513 | +€14 | +2.8% |
| Gross operating margin | 9900 | €128,126 | €139,772 | +€11,645 | +9.1% |
| Operating profit (loss) | 9901 | €126,018 | €137,549 | +€11,531 | +9.2% |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | €587 | €963 | +€376 | +64.1% |
| Recurring financial charges | 65 | €587 | €963 | +€376 | +64.1% |
| Profit (loss) for the period before taxes | 9903 | €125,431 | €136,603 | +€11,172 | +8.9% |
| Income taxes | 67/77 | €36,764 | €34,568 | -€2,196 | -6.0% |
| Profit (loss) for the period | 9904 | €88,667 | €102,034 | +€13,367 | +15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €88,667 | €102,034 | +€13,367 | +15.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.