STUDIO PALERMO: 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.
STUDIO PALERMO
Largest movements
- Tangible fixed assets -€14,255
down €14,255 (-4.7%), from €302,095 to €287,840
of which Land and buildings: -€14,023
- Cash -€11,691
down €11,691 (-19.1%), from €61,303 to €49,612
mainly Contributions, distributions and other (-€48,649) and Current portion of long-term debt (-€17,251)
- Receivables within one year +€9,853
up €9,853 (+223%), from €4,416 to €14,269
of which Trade receivables: +€10,275
- Reserves -€22,761
down €22,761 (-40.0%), from €56,930 to €34,169
of which Distributable reserves: -€22,761
- Other debts +€22,223
up €22,223 (+72.7%), from €30,547 to €52,770
- Current portion of long-term debt -€17,251
no longer reported in 2025 (was €17,251)
- Gross operating margin +€9,089
up €9,089 (+17.4%), from €52,279 to €61,368
- Taxes +€2,039
up €2,039 (+33.4%), from €6,097 to €8,137
- Depreciation -€1,367
down €1,367 (-7.1%), from €19,338 to €17,971
- Staff costs +€1,192
new in 2025: €1,192
- Financial charges -€981
down €981 (-15.3%), from €6,420 to €5,439
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 | €368,066 | €351,973 | -€16,093 | -4.4% |
| Fixed assets | 21/28 | €302,347 | €288,092 | -€14,255 | -4.7% |
| Tangible fixed assets | 22/27 | €302,095 | €287,840 | -€14,255 | -4.7% |
| Land and buildings | 22 | €298,201 | €284,178 | -€14,023 | -4.7% |
| Plant, machinery and equipment | 23 | €0 | - | -€0 | |
| Furniture and vehicles | 24 | €2,784 | €1,952 | -€832 | -29.9% |
| Other tangible fixed assets | 26 | €1,110 | €1,710 | +€600 | +54.1% |
| Financial fixed assets | 28 | €252 | €252 | = | 0.0% |
| Current assets | 29/58 | €65,719 | €63,880 | -€1,838 | -2.8% |
| Amounts receivable within one year | 40/41 | €4,416 | €14,269 | +€9,853 | +223% |
| Trade receivables | 40 | - | €10,275 | +€10,275 | |
| Other amounts receivable | 41 | €4,416 | €3,994 | -€422 | -9.6% |
| Cash at bank and in hand | 54/58 | €61,303 | €49,612 | -€11,691 | -19.1% |
| Total equity and liabilities | 10/49 | €368,066 | €351,973 | -€16,093 | -4.4% |
| Equity | 10/15 | €75,530 | €52,769 | -€22,761 | -30.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,930 | €34,169 | -€22,761 | -40.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €55,070 | €32,309 | -€22,761 | -41.3% |
| Amounts payable | 17/49 | €292,536 | €299,204 | +€6,668 | +2.3% |
| Amounts payable after more than one year | 17 | €234,414 | €234,414 | = | 0.0% |
| Financial debts | 170/4 | €234,414 | €234,414 | = | 0.0% |
| Amounts payable within one year | 42/48 | €58,122 | €64,790 | +€6,668 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €17,251 | - | -€17,251 | |
| Trade debts | 44 | €588 | €3,085 | +€2,497 | +425% |
| Suppliers | 440/4 | €588 | €3,085 | +€2,497 | +425% |
| Taxes, remuneration and social security | 45 | €9,736 | €8,935 | -€801 | -8.2% |
| Taxes | 450/3 | €9,736 | €8,935 | -€801 | -8.2% |
| Other amounts payable | 47/48 | €30,547 | €52,770 | +€22,223 | +72.7% |
| Remuneration, social security and pensions | 62 | - | €1,192 | +€1,192 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,338 | €17,971 | -€1,367 | -7.1% |
| Other operating charges | 640/8 | €2,656 | €2,810 | +€155 | +5.8% |
| Gross operating margin | 9900 | €52,279 | €61,368 | +€9,089 | +17.4% |
| Operating profit (loss) | 9901 | €30,285 | €39,395 | +€9,110 | +30.1% |
| Financial income | 75/76B | €305 | €69 | -€236 | -77.3% |
| Recurring financial income | 75 | €305 | €69 | -€236 | -77.3% |
| Financial charges | 65/66B | €6,420 | €5,439 | -€981 | -15.3% |
| Recurring financial charges | 65 | €6,420 | €5,439 | -€981 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €24,171 | €34,025 | +€9,854 | +40.8% |
| Income taxes | 67/77 | €6,097 | €8,137 | +€2,039 | +33.4% |
| Profit (loss) for the period | 9904 | €18,074 | €25,889 | +€7,815 | +43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,074 | €25,889 | +€7,815 | +43.2% |
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 20 October 2026 via checked.be.