Student Academy Management: 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.
Student Academy Management
Largest movements
- Tangible fixed assets +€130,803
up €130,803 (+28.2%), from €463,947 to €594,750
of which Land and buildings: +€162,980
- Cash +€28,138
up €28,138 (+40.7%), from €69,134 to €97,272
mainly Net result for the year (+€300,215) and Depreciation (+€73,790)
- Intangible fixed assets +€12,789
up €12,789 (+57.8%), from €22,131 to €34,920
- Profit (loss) carried forward +€300,215
up €300,215 (+83.6%), from €359,083 to €659,298
- Debts after one year -€80,292
down €80,292 (-43.2%), from €185,858 to €105,565
- Other debts -€32,552
down €32,552 (-75.2%), from €43,291 to €10,739
- Gross operating margin +€123,842
up €123,842 (+24.5%), from €506,503 to €630,345
- Depreciation +€28,810
up €28,810 (+64.0%), from €44,980 to €73,790
- Taxes +€21,566
up €21,566 (+28.5%), from €75,650 to €97,217
- Other operating charges +€13,495
up €13,495 (+61.2%), from €22,035 to €35,530
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 | €720,479 | €900,422 | +€179,943 | +25.0% |
| Fixed assets | 21/28 | €486,077 | €629,670 | +€143,592 | +29.5% |
| Intangible fixed assets | 21 | €22,131 | €34,920 | +€12,789 | +57.8% |
| Tangible fixed assets | 22/27 | €463,947 | €594,750 | +€130,803 | +28.2% |
| Land and buildings | 22 | €359,712 | €522,692 | +€162,980 | +45.3% |
| Plant, machinery and equipment | 23 | €682 | €1,360 | +€679 | +99.6% |
| Furniture and vehicles | 24 | €100,694 | €68,568 | -€32,125 | -31.9% |
| Other tangible fixed assets | 26 | €2,859 | €2,129 | -€730 | -25.5% |
| Current assets | 29/58 | €234,402 | €270,753 | +€36,350 | +15.5% |
| Amounts receivable within one year | 40/41 | €160,416 | €168,153 | +€7,738 | +4.8% |
| Trade receivables | 40 | €121,513 | €168,153 | +€46,640 | +38.4% |
| Other amounts receivable | 41 | €38,902 | - | -€38,902 | |
| Cash at bank and in hand | 54/58 | €69,134 | €97,272 | +€28,138 | +40.7% |
| Deferred charges and accrued income | 490/1 | €4,853 | €5,327 | +€474 | +9.8% |
| Total equity and liabilities | 10/49 | €720,479 | €900,422 | +€179,943 | +25.0% |
| Equity | 10/15 | €371,506 | €670,066 | +€298,560 | +80.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €359,083 | €659,298 | +€300,215 | +83.6% |
| Investment grants | 15 | €7,422 | €5,768 | -€1,655 | -22.3% |
| Amounts payable | 17/49 | €348,974 | €230,357 | -€118,617 | -34.0% |
| Amounts payable after more than one year | 17 | €185,858 | €105,565 | -€80,292 | -43.2% |
| Financial debts | 170/4 | €185,858 | €105,565 | -€80,292 | -43.2% |
| Amounts payable within one year | 42/48 | €163,116 | €124,791 | -€38,325 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €10,067 | €6,309 | -€3,757 | -37.3% |
| Trade debts | 44 | €67,136 | €65,047 | -€2,090 | -3.1% |
| Suppliers | 440/4 | €67,136 | €65,047 | -€2,090 | -3.1% |
| Taxes, remuneration and social security | 45 | €42,623 | €42,697 | +€74 | +0.2% |
| Taxes | 450/3 | €28,158 | €25,519 | -€2,639 | -9.4% |
| Remuneration and social security | 454/9 | €14,465 | €17,178 | +€2,713 | +18.8% |
| Other amounts payable | 47/48 | €43,291 | €10,739 | -€32,552 | -75.2% |
| Remuneration, social security and pensions | 62 | €122,527 | €117,430 | -€5,097 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,980 | €73,790 | +€28,810 | +64.0% |
| Other operating charges | 640/8 | €22,035 | €35,530 | +€13,495 | +61.2% |
| Gross operating margin | 9900 | €506,503 | €630,345 | +€123,842 | +24.5% |
| Operating profit (loss) | 9901 | €316,961 | €403,595 | +€86,634 | +27.3% |
| Financial income | 75/76B | €2,985 | €3,433 | +€448 | +15.0% |
| Recurring financial income | 75 | €2,985 | €3,433 | +€448 | +15.0% |
| Financial charges | 65/66B | €7,480 | €9,596 | +€2,116 | +28.3% |
| Recurring financial charges | 65 | €7,480 | €9,596 | +€2,116 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €312,465 | €397,431 | +€84,966 | +27.2% |
| Income taxes | 67/77 | €75,650 | €97,217 | +€21,566 | +28.5% |
| Profit (loss) for the period | 9904 | €236,815 | €300,215 | +€63,400 | +26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €236,815 | €300,215 | +€63,400 | +26.8% |
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 31 October 2026 via checked.be.