Śrīmad-Bhāgavatam 10.85.12
Blended reading (Sanskrit + English inline)
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naśvareṣu
—
among destructible things
Locative plural of naśvara, 'perishable'. Everything in the field of vyavahāra is destructible — except the Person who underlies them. The verse echoes BG 2.16's sad-asat distinction.
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anaśvaram
—
the indestructible
Negation of naśvara: 'non-perishable'. Gauḍīyas: Bhagavān's body, name, abode, and associates are all anaśvara — sac-cid-ānanda — even when they appear within the perishable realm.
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dravya-vikāreṣu
—
in the transformations of a substance
Compound: dravya (substance) + vikāra (modification). The classical Vedānta example: clay/pot, gold/ornament. The substance persists; the form transforms. Bhagavān is the dravya of every dravya.
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nirūpitam
—
is determined, ascertained
Past participle of nir + √rūp, 'to define, fix the form of'. A philosophical technical term. Vasudeva's statement is not poetic; it is śāstra-vat — defining-grade language.
You are the indestructible pradhana among all the perishable states, just as earth and gold, though permanent take temporary forms like pots and earrings.
You are the indestructible material cause (upādānam). You as Brahman are the cause of all śaktis.
The śakti for realizing happiness in liberation, for liberated souls, comes from you. You are designated by those who know or are seen to be (nirūpitam) the indestructible consciousness in all causes of the universe (bhāveṣu).
Gold remains gold whether it is bracelet, ring, or coin — the ornaments change names, the substance does not. Bhagavān is the unchanging substance through every transformation; whatever appears and vanishes does so on His permanence.
My note
Source: vedabase.io