Study2Pass: 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.
Study2Pass
Largest movements
- Receivables within one year +€9,244
up €9,244 (+28.9%), from €31,963 to €41,207
of which Trade receivables: +€8,479
- Cash -€8,208
down €8,208 (-42.7%), from €19,211 to €11,002
mainly Receivables within one year (-€9,244) and Tax, wage and social debts (-€8,138)
- Tangible fixed assets -€983
down €983 (-44.2%), from €2,223 to €1,240
- Deferred charges and accrued income -€710
no longer reported in 2025 (was €710)
- Profit (loss) carried forward +€11,140
up €11,140 (+30.0%), from €37,119 to €48,259
- Tax, wage and social debts -€8,138
down €8,138 (-98.6%), from €8,252 to €114
of which Taxes: -€6,638
- Trade debts -€3,806
down €3,806 (-87.1%), from €4,371 to €565
- Gross operating margin +€11,047
up €11,047 (+95.3%), from €11,589 to €22,636
- Staff costs -€1,296
down €1,296 (-10.2%), from €12,738 to €11,442
- Taxes -€1,172
new in 2025: -€1,172
- Depreciation -€821
down €821 (-42.1%), from €1,952 to €1,131
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.
Cash bridge derived
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 | €54,255 | €53,450 | -€805 | -1.5% |
| Fixed assets | 21/28 | €2,371 | €1,240 | -€1,131 | -47.7% |
| Intangible fixed assets | 21 | €148 | - | -€148 | |
| Tangible fixed assets | 22/27 | €2,223 | €1,240 | -€983 | -44.2% |
| Furniture and vehicles | 24 | €2,223 | €1,240 | -€983 | -44.2% |
| Current assets | 29/58 | €51,883 | €52,210 | +€326 | +0.6% |
| Amounts receivable within one year | 40/41 | €31,963 | €41,207 | +€9,244 | +28.9% |
| Trade receivables | 40 | €23,650 | €32,129 | +€8,479 | +35.9% |
| Other amounts receivable | 41 | €8,313 | €9,078 | +€765 | +9.2% |
| Cash at bank and in hand | 54/58 | €19,211 | €11,002 | -€8,208 | -42.7% |
| Deferred charges and accrued income | 490/1 | €710 | - | -€710 | |
| Total equity and liabilities | 10/49 | €54,255 | €53,450 | -€805 | -1.5% |
| Equity | 10/15 | €41,119 | €52,259 | +€11,140 | +27.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €4,000 | +€4,000 | |
| Other | 1109/19 | - | €4,000 | +€4,000 | |
| Profit (loss) carried forward | 14 | €37,119 | €48,259 | +€11,140 | +30.0% |
| Amounts payable | 17/49 | €13,136 | €1,191 | -€11,945 | -90.9% |
| Amounts payable within one year | 42/48 | €12,623 | €678 | -€11,945 | -94.6% |
| Trade debts | 44 | €4,371 | €565 | -€3,806 | -87.1% |
| Suppliers | 440/4 | €4,371 | €565 | -€3,806 | -87.1% |
| Taxes, remuneration and social security | 45 | €8,252 | €114 | -€8,138 | -98.6% |
| Taxes | 450/3 | €6,752 | €114 | -€6,638 | -98.3% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Accrued charges and deferred income | 492/3 | €513 | €513 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €12,738 | €11,442 | -€1,296 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,952 | €1,131 | -€821 | -42.1% |
| Non-recurring operating charges | 66A | €50 | - | -€50 | |
| Gross operating margin | 9900 | €11,589 | €22,636 | +€11,047 | +95.3% |
| Operating profit (loss) | 9901 | -€3,151 | €10,063 | +€13,214 | |
| Financial income | 75/76B | €57 | €44 | -€13 | -22.1% |
| Recurring financial income | 75 | €57 | €44 | -€13 | -22.1% |
| Financial charges | 65/66B | €143 | €139 | -€5 | -3.2% |
| Recurring financial charges | 65 | €143 | €139 | -€5 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,238 | €9,968 | +€13,206 | |
| Income taxes | 67/77 | - | -€1,172 | -€1,172 | |
| Profit (loss) for the period | 9904 | -€3,238 | €11,140 | +€14,378 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,238 | €11,140 | +€14,378 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.