STUDIE 10 PARTNERSHIP: 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.
STUDIE 10 PARTNERSHIP
Largest movements
- Receivables after one year -€110,400
down €110,400 (-70.6%), from €156,400 to €46,000
- Tangible fixed assets -€12,652
down €12,652 (-6.0%), from €212,624 to €199,972
- Cash -€12,119
down €12,119 (-7.5%), from €160,792 to €148,672
mainly Contributions, distributions and other (-€150,000) and Debts after one year (-€8,762)
- Reserves -€119,643
down €119,643 (-16.4%), from €728,588 to €608,945
- Financial income -€8,062
down €8,062 (-40.1%), from €20,107 to €12,045
- Financial charges -€2,070
down €2,070 (-49.5%), from €4,184 to €2,114
- Taxes -€1,030
down €1,030 (-9.2%), from €11,149 to €10,119
- Gross operating margin -€963
down €963 (-1.9%), from €49,766 to €48,803
- Write-downs -€798
no longer reported in 2025 (was €798)
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 | €969,484 | €843,163 | -€126,321 | -13.0% |
| Fixed assets | 21/28 | €212,624 | €199,972 | -€12,652 | -6.0% |
| Tangible fixed assets | 22/27 | €212,624 | €199,972 | -€12,652 | -6.0% |
| Land and buildings | 22 | €212,624 | €199,972 | -€12,652 | -6.0% |
| Current assets | 29/58 | €756,860 | €643,191 | -€113,669 | -15.0% |
| Amounts receivable after more than one year | 29 | €156,400 | €46,000 | -€110,400 | -70.6% |
| Trade receivables | 290 | €156,400 | €46,000 | -€110,400 | -70.6% |
| Amounts receivable within one year | 40/41 | €137,036 | €141,770 | +€4,734 | +3.5% |
| Trade receivables | 40 | €23,276 | €26,177 | +€2,901 | +12.5% |
| Other amounts receivable | 41 | €113,760 | €115,593 | +€1,833 | +1.6% |
| Current investments | 50/53 | €302,562 | €302,562 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €160,792 | €148,672 | -€12,119 | -7.5% |
| Deferred charges and accrued income | 490/1 | €71 | €4,187 | +€4,116 | +5,793% |
| Total equity and liabilities | 10/49 | €969,484 | €843,163 | -€126,321 | -13.0% |
| Equity | 10/15 | €747,188 | €627,545 | -€119,643 | -16.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €728,588 | €608,945 | -€119,643 | -16.4% |
| Distributable reserves | 133 | €728,588 | €608,945 | -€119,643 | -16.4% |
| Amounts payable | 17/49 | €222,297 | €215,618 | -€6,678 | -3.0% |
| Amounts payable after more than one year | 17 | €60,936 | €52,174 | -€8,762 | -14.4% |
| Financial debts | 170/4 | €60,936 | €52,174 | -€8,762 | -14.4% |
| Amounts payable within one year | 42/48 | €161,361 | €163,444 | +€2,084 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €8,510 | €8,762 | +€252 | +3.0% |
| Trade debts | 44 | €1,792 | €817 | -€975 | -54.4% |
| Suppliers | 440/4 | €1,792 | €817 | -€975 | -54.4% |
| Other amounts payable | 47/48 | €151,059 | €153,866 | +€2,807 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,652 | €12,652 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €798 | - | -€798 | |
| Other operating charges | 640/8 | €5,442 | €5,606 | +€164 | +3.0% |
| Gross operating margin | 9900 | €49,766 | €48,803 | -€963 | -1.9% |
| Operating profit (loss) | 9901 | €30,874 | €30,545 | -€329 | -1.1% |
| Financial income | 75/76B | €20,107 | €12,045 | -€8,062 | -40.1% |
| Recurring financial income | 75 | €20,107 | €12,045 | -€8,062 | -40.1% |
| Financial charges | 65/66B | €4,184 | €2,114 | -€2,070 | -49.5% |
| Recurring financial charges | 65 | €4,184 | €2,114 | -€2,070 | -49.5% |
| Profit (loss) for the period before taxes | 9903 | €46,797 | €40,476 | -€6,320 | -13.5% |
| Income taxes | 67/77 | €11,149 | €10,119 | -€1,030 | -9.2% |
| Profit (loss) for the period | 9904 | €35,648 | €30,357 | -€5,291 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,648 | €30,357 | -€5,291 | -14.8% |
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 1 November 2026 via checked.be.