STUDEKA: 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.
STUDEKA
Largest movements
- Receivables within one year +€64,059
up €64,059 (+91.8%), from €69,780 to €133,839
of which Other amounts receivable: +€61,276
- Tangible fixed assets +€6,674
up €6,674 (+1.5%), from €437,683 to €444,357
of which Plant, machinery and equipment: +€17,781
- Debts after one year +€64,053
up €64,053 (+20.2%), from €316,360 to €380,413
- Current portion of long-term debt -€43,128
down €43,128 (-70.7%), from €60,998 to €17,870
- Reserves +€30,000
up €30,000 (+64.6%), from €46,424 to €76,424
of which Distributable reserves: +€30,000
- Financial charges +€6,505
up €6,505 (+49.0%), from €13,274 to €19,779
- Financial income +€3,352
up €3,352 (+194.2%), from €1,726 to €5,078
- Depreciation +€2,390
up €2,390 (+5.1%), from €46,604 to €48,993
- Taxes -€1,660
down €1,660 (-8.4%), from €19,856 to €18,196
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.
Cash bridge derived
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 | €567,221 | €630,774 | +€63,553 | +11.2% |
| Fixed assets | 21/28 | €439,483 | €445,349 | +€5,867 | +1.3% |
| Tangible fixed assets | 22/27 | €437,683 | €444,357 | +€6,674 | +1.5% |
| Land and buildings | 22 | €340,700 | €325,974 | -€14,727 | -4.3% |
| Plant, machinery and equipment | 23 | €96,982 | €114,763 | +€17,781 | +18.3% |
| Furniture and vehicles | 24 | €0 | €3,619 | +€3,619 | |
| Financial fixed assets | 28 | €1,800 | €993 | -€807 | -44.8% |
| Current assets | 29/58 | €127,738 | €185,425 | +€57,687 | +45.2% |
| Amounts receivable within one year | 40/41 | €69,780 | €133,839 | +€64,059 | +91.8% |
| Trade receivables | 40 | €5,056 | €7,839 | +€2,783 | +55.0% |
| Other amounts receivable | 41 | €64,724 | €126,000 | +€61,276 | +94.7% |
| Current investments | 50/53 | €2,824 | €2,824 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €51,295 | €48,061 | -€3,234 | -6.3% |
| Deferred charges and accrued income | 490/1 | €3,840 | €701 | -€3,139 | -81.7% |
| Total equity and liabilities | 10/49 | €567,221 | €630,774 | +€63,553 | +11.2% |
| Equity | 10/15 | €109,650 | €143,916 | +€34,266 | +31.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €46,424 | €76,424 | +€30,000 | +64.6% |
| Non-distributable reserves | 130/1 | €6,424 | €6,424 | = | 0.0% |
| Legal reserve | 130 | €6,424 | €6,424 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €70,000 | +€30,000 | +75.0% |
| Profit (loss) carried forward | 14 | €1,227 | €5,492 | +€4,266 | +347.8% |
| Amounts payable | 17/49 | €457,571 | €486,858 | +€29,287 | +6.4% |
| Amounts payable after more than one year | 17 | €316,360 | €380,413 | +€64,053 | +20.2% |
| Financial debts | 170/4 | €316,360 | €380,413 | +€64,053 | +20.2% |
| Amounts payable within one year | 42/48 | €139,822 | €104,324 | -€35,499 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €60,998 | €17,870 | -€43,128 | -70.7% |
| Trade debts | 44 | €9,876 | €5,307 | -€4,570 | -46.3% |
| Suppliers | 440/4 | €9,876 | €5,307 | -€4,570 | -46.3% |
| Taxes, remuneration and social security | 45 | €12,198 | €18,110 | +€5,912 | +48.5% |
| Taxes | 450/3 | €12,198 | €18,110 | +€5,912 | +48.5% |
| Other amounts payable | 47/48 | €56,750 | €63,037 | +€6,287 | +11.1% |
| Accrued charges and deferred income | 492/3 | €1,388 | €2,122 | +€733 | +52.8% |
| Remuneration, social security and pensions | 62 | €198 | €78 | -€120 | -60.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,604 | €48,993 | +€2,390 | +5.1% |
| Other operating charges | 640/8 | €9,735 | €10,323 | +€588 | +6.0% |
| Gross operating margin | 9900 | €145,073 | €145,757 | +€684 | +0.5% |
| Operating profit (loss) | 9901 | €88,536 | €86,362 | -€2,174 | -2.5% |
| Financial income | 75/76B | €1,726 | €5,078 | +€3,352 | +194.2% |
| Recurring financial income | 75 | €1,726 | €5,078 | +€3,352 | +194.2% |
| Financial charges | 65/66B | €13,274 | €19,779 | +€6,505 | +49.0% |
| Recurring financial charges | 65 | €13,274 | €19,779 | +€6,505 | +49.0% |
| Profit (loss) for the period before taxes | 9903 | €76,988 | €71,662 | -€5,326 | -6.9% |
| Income taxes | 67/77 | €19,856 | €18,196 | -€1,660 | -8.4% |
| Profit (loss) for the period | 9904 | €57,132 | €53,466 | -€3,666 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,132 | €53,466 | -€3,666 | -6.4% |
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 10 October 2026 via checked.be.