STUDER ET CO: 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.
STUDER ET CO
Largest movements
- Receivables within one year -€77,347
down €77,347 (-56.4%), from €137,025 to €59,679
of which Other amounts receivable: -€76,909
- Stocks and contracts +€12,000
new in 2025: €12,000
- Profit (loss) carried forward -€47,747
down €47,747, from €6,918 to -€40,830
- Tax, wage and social debts -€14,118
down €14,118 (-57.4%), from €24,601 to €10,483
of which Taxes: -€20,395
- Trade debts -€7,364
down €7,364 (-31.5%), from €23,376 to €16,012
- Short-term financial debts +€3,680
up €3,680 (+121%), from €3,049 to €6,729
- Gross operating margin -€44,924
down €44,924 (-94.1%), from €47,724 to €2,800
- Staff costs +€11,293
up €11,293 (+29.2%), from €38,653 to €49,946
- Write-downs -€8,250
no longer reported in 2025 (was €8,250)
- Other operating charges +€2,112
new in 2025: €2,112
- Taxes -€1,794
down €1,794, from €1,593 to -€200
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 | €148,715 | €83,166 | -€65,549 | -44.1% |
| Fixed assets | 21/28 | €11,347 | €11,347 | = | 0.0% |
| Financial fixed assets | 28 | €11,347 | €11,347 | = | 0.0% |
| Current assets | 29/58 | €137,368 | €71,819 | -€65,549 | -47.7% |
| Stocks and contracts in progress | 3 | - | €12,000 | +€12,000 | |
| Contracts in progress | 37 | - | €12,000 | +€12,000 | |
| Amounts receivable within one year | 40/41 | €137,025 | €59,679 | -€77,347 | -56.4% |
| Trade receivables | 40 | €45,140 | €44,702 | -€438 | -1.0% |
| Other amounts receivable | 41 | €91,885 | €14,977 | -€76,909 | -83.7% |
| Cash at bank and in hand | 54/58 | €343 | €140 | -€203 | -59.1% |
| Total equity and liabilities | 10/49 | €148,715 | €83,166 | -€65,549 | -44.1% |
| Equity | 10/15 | €97,688 | €49,941 | -€47,747 | -48.9% |
| Contributions | 10/11 | €82,518 | €82,518 | = | 0.0% |
| Capital | 10 | €82,518 | €82,518 | = | 0.0% |
| Issued capital | 100 | €82,518 | €82,518 | = | 0.0% |
| Reserves | 13 | €8,252 | €8,252 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,252 | €8,252 | = | 0.0% |
| Legal reserve | 130 | €8,252 | €8,252 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,918 | -€40,830 | -€47,747 | |
| Amounts payable | 17/49 | €51,027 | €33,225 | -€17,802 | -34.9% |
| Amounts payable within one year | 42/48 | €51,027 | €33,225 | -€17,802 | -34.9% |
| Financial debts | 43 | €3,049 | €6,729 | +€3,680 | +121% |
| Credit institutions | 430/8 | €3,049 | €6,729 | +€3,680 | +121% |
| Trade debts | 44 | €23,376 | €16,012 | -€7,364 | -31.5% |
| Suppliers | 440/4 | €23,376 | €16,012 | -€7,364 | -31.5% |
| Taxes, remuneration and social security | 45 | €24,601 | €10,483 | -€14,118 | -57.4% |
| Taxes | 450/3 | €23,140 | €2,746 | -€20,395 | -88.1% |
| Remuneration and social security | 454/9 | €1,461 | €7,738 | +€6,277 | +430% |
| Remuneration, social security and pensions | 62 | €38,653 | €49,946 | +€11,293 | +29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €691 | - | -€691 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,250 | - | -€8,250 | |
| Other operating charges | 640/8 | - | €2,112 | +€2,112 | |
| Gross operating margin | 9900 | €47,724 | €2,800 | -€44,924 | -94.1% |
| Operating profit (loss) | 9901 | €129 | -€49,259 | -€49,388 | |
| Financial income | 75/76B | €4,001 | €2,632 | -€1,369 | -34.2% |
| Recurring financial income | 75 | €4,001 | €2,632 | -€1,369 | -34.2% |
| Financial charges | 65/66B | €1,249 | €1,321 | +€72 | +5.8% |
| Recurring financial charges | 65 | €1,249 | €1,321 | +€72 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €2,881 | -€47,948 | -€50,829 | |
| Income taxes | 67/77 | €1,593 | -€200 | -€1,794 | |
| Profit (loss) for the period | 9904 | €1,288 | -€47,747 | -€49,035 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,288 | -€47,747 | -€49,035 |
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 18 October 2026 via checked.be.