STUDIEBUREAU DE PAEPE: 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.
STUDIEBUREAU DE PAEPE
Largest movements
- Stocks and contracts -€13,391
down €13,391 (-73.0%), from €18,350 to €4,959
- Cash -€12,037
down €12,037 (-43.5%), from €27,644 to €15,607
mainly Net result for the year (-€20,480) and Receivables within one year (-€5,875)
- Receivables within one year +€5,875
up €5,875 (+22.8%), from €25,786 to €31,661
of which Other amounts receivable: +€6,016
- Tangible fixed assets -€1,394
down €1,394 (-55.0%), from €2,536 to €1,143
of which Furniture and vehicles: -€1,091
- Deferred charges and accrued income -€852
down €852 (-39.6%), from €2,148 to €1,297
- Profit (loss) carried forward -€18,620
new in 2026: -€18,620
- Reserves -€1,860
down €1,860 (-3.4%), from €55,058 to €53,198
- Accrued charges and deferred income -€766
down €766 (-100%), from €766 to €0
- Gross operating margin -€21,405
down €21,405, from €5,165 to -€16,240
- Financial charges -€390
down €390 (-17.5%), from €2,225 to €1,835
- Depreciation -€175
down €175 (-11.2%), from €1,569 to €1,394
- Other operating charges +€175
up €175 (+31.3%), from €559 to €733
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,464 | €54,666 | -€21,798 | -28.5% |
| Fixed assets | 21/28 | €2,536 | €1,143 | -€1,394 | -55.0% |
| Tangible fixed assets | 22/27 | €2,536 | €1,143 | -€1,394 | -55.0% |
| Plant, machinery and equipment | 23 | €1,063 | €760 | -€303 | -28.5% |
| Furniture and vehicles | 24 | €1,473 | €382 | -€1,091 | -74.0% |
| Current assets | 29/58 | €73,928 | €53,524 | -€20,404 | -27.6% |
| Stocks and contracts in progress | 3 | €18,350 | €4,959 | -€13,391 | -73.0% |
| Contracts in progress | 37 | €18,350 | €4,959 | -€13,391 | -73.0% |
| Amounts receivable within one year | 40/41 | €25,786 | €31,661 | +€5,875 | +22.8% |
| Trade receivables | 40 | €141 | €0 | -€141 | -100% |
| Other amounts receivable | 41 | €25,645 | €31,661 | +€6,016 | +23.5% |
| Cash at bank and in hand | 54/58 | €27,644 | €15,607 | -€12,037 | -43.5% |
| Deferred charges and accrued income | 490/1 | €2,148 | €1,297 | -€852 | -39.6% |
| Total equity and liabilities | 10/49 | €76,464 | €54,666 | -€21,798 | -28.5% |
| Equity | 10/15 | €73,658 | €53,179 | -€20,480 | -27.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,058 | €53,198 | -€1,860 | -3.4% |
| Distributable reserves | 133 | €55,058 | €53,198 | -€1,860 | -3.4% |
| Profit (loss) carried forward | 14 | - | -€18,620 | -€18,620 | |
| Amounts payable | 17/49 | €2,806 | €1,488 | -€1,318 | -47.0% |
| Amounts payable within one year | 42/48 | €2,040 | €1,488 | -€552 | -27.1% |
| Trade debts | 44 | €1,687 | €1,210 | -€476 | -28.2% |
| Suppliers | 440/4 | €1,687 | €1,210 | -€476 | -28.2% |
| Taxes, remuneration and social security | 45 | €353 | €278 | -€76 | -21.4% |
| Taxes | 450/3 | €353 | €278 | -€76 | -21.4% |
| Accrued charges and deferred income | 492/3 | €766 | €0 | -€766 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,569 | €1,394 | -€175 | -11.2% |
| Other operating charges | 640/8 | €559 | €733 | +€175 | +31.3% |
| Gross operating margin | 9900 | €5,165 | -€16,240 | -€21,405 | |
| Operating profit (loss) | 9901 | €3,038 | -€18,367 | -€21,405 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €2,225 | €1,835 | -€390 | -17.5% |
| Recurring financial charges | 65 | €2,225 | €1,835 | -€390 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €813 | -€20,202 | -€21,015 | |
| Income taxes | 67/77 | €353 | €278 | -€76 | -21.4% |
| Profit (loss) for the period | 9904 | €460 | -€20,480 | -€20,940 | |
| Profit (loss) for the period to be appropriated | 9905 | €460 | -€20,480 | -€20,940 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.