11 advice & management: what changed
11 advice & management
Largest movements
- Cash +€67,730
up €67,730 (+206%), from €32,841 to €100,571
mainly Net result for the year (+€148,453) and Tax, wage and social debts (+€35,926)
- Current investments +€60,068
up €60,068 (+52.2%), from €115,010 to €175,078
- Receivables within one year +€31,764
up €31,764 (+59.9%), from €53,056 to €84,820
of which Trade receivables: +€22,991
- Receivables after one year +€30,000
up €30,000 (+17.6%), from €170,000 to €200,000
- Tangible fixed assets -€9,356
down €9,356 (-13.4%), from €69,931 to €60,574
of which Furniture and vehicles: -€8,203
- Reserves +€150,313
up €150,313 (+41.0%), from €366,585 to €516,898
- Tax, wage and social debts +€35,926
up €35,926 (+110%), from €32,531 to €68,457
of which Taxes: +€28,939
- Debts after one year -€6,582
down €6,582 (-53.7%), from €12,250 to €5,668
- Gross operating margin +€71,303
up €71,303 (+35.4%), from €201,358 to €272,661
- Taxes +€23,828
up €23,828 (+54.9%), from €43,377 to €67,205
- Staff costs +€7,989
up €7,989 (+16.1%), from €49,614 to €57,602
- Financial income +€6,961
up €6,961 (+121%), from €5,771 to €12,732
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €445,537 | €624,236 | +€178,700 | +40.1% |
| Fixed assets | 21/28 | €69,931 | €60,574 | -€9,356 | -13.4% |
| Tangible fixed assets | 22/27 | €69,931 | €60,574 | -€9,356 | -13.4% |
| Plant, machinery and equipment | 23 | €8,148 | €6,995 | -€1,153 | -14.2% |
| Furniture and vehicles | 24 | €23,882 | €15,679 | -€8,203 | -34.3% |
| Other tangible fixed assets | 26 | €37,900 | €37,900 | = | 0.0% |
| Current assets | 29/58 | €375,606 | €563,662 | +€188,056 | +50.1% |
| Amounts receivable after more than one year | 29 | €170,000 | €200,000 | +€30,000 | +17.6% |
| Other amounts receivable | 291 | €170,000 | €200,000 | +€30,000 | +17.6% |
| Amounts receivable within one year | 40/41 | €53,056 | €84,820 | +€31,764 | +59.9% |
| Trade receivables | 40 | €47,207 | €70,198 | +€22,991 | +48.7% |
| Other amounts receivable | 41 | €5,849 | €14,622 | +€8,773 | +150% |
| Current investments | 50/53 | €115,010 | €175,078 | +€60,068 | +52.2% |
| Cash at bank and in hand | 54/58 | €32,841 | €100,571 | +€67,730 | +206% |
| Deferred charges and accrued income | 490/1 | €4,699 | €3,193 | -€1,506 | -32.0% |
| Total equity and liabilities | 10/49 | €445,537 | €624,236 | +€178,700 | +40.1% |
| Equity | 10/15 | €387,045 | €535,498 | +€148,453 | +38.4% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €366,585 | €516,898 | +€150,313 | +41.0% |
| Distributable reserves | 133 | €366,585 | €516,898 | +€150,313 | +41.0% |
| Amounts payable | 17/49 | €58,492 | €88,739 | +€30,247 | +51.7% |
| Amounts payable after more than one year | 17 | €12,250 | €5,668 | -€6,582 | -53.7% |
| Financial debts | 170/4 | €12,250 | €5,668 | -€6,582 | -53.7% |
| Amounts payable within one year | 42/48 | €46,242 | €83,071 | +€36,829 | +79.6% |
| Current portion of amounts payable after more than one year | 42 | €6,350 | €6,582 | +€232 | +3.6% |
| Financial debts | 43 | €1,540 | €1,185 | -€354 | -23.0% |
| Credit institutions | 430/8 | €1,540 | €1,185 | -€354 | -23.0% |
| Trade debts | 44 | €5,613 | €3,775 | -€1,838 | -32.7% |
| Suppliers | 440/4 | €5,613 | €3,775 | -€1,838 | -32.7% |
| Taxes, remuneration and social security | 45 | €32,531 | €68,457 | +€35,926 | +110% |
| Taxes | 450/3 | €32,531 | €61,470 | +€28,939 | +89.0% |
| Remuneration and social security | 454/9 | €0 | €6,987 | +€6,987 | |
| Other amounts payable | 47/48 | €209 | €3,072 | +€2,863 | +1,371% |
| Remuneration, social security and pensions | 62 | €49,614 | €57,602 | +€7,989 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,753 | €9,356 | +€604 | +6.9% |
| Other operating charges | 640/8 | €1,087 | €1,913 | +€826 | +76.0% |
| Gross operating margin | 9900 | €201,358 | €272,661 | +€71,303 | +35.4% |
| Operating profit (loss) | 9901 | €141,905 | €203,789 | +€61,884 | +43.6% |
| Financial income | 75/76B | €5,771 | €12,732 | +€6,961 | +121% |
| Recurring financial income | 75 | €5,771 | €12,732 | +€6,961 | +121% |
| Financial charges | 65/66B | €968 | €864 | -€104 | -10.8% |
| Recurring financial charges | 65 | €968 | €864 | -€104 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €146,708 | €215,658 | +€68,950 | +47.0% |
| Income taxes | 67/77 | €43,377 | €67,205 | +€23,828 | +54.9% |
| Profit (loss) for the period | 9904 | €103,330 | €148,453 | +€45,122 | +43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €103,330 | €148,453 | +€45,122 | +43.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.