AD ADVISORY SERVICES: 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.
What changed
AD ADVISORY SERVICES
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€339,567
2024 · €370,369-€30,802
Equity
€2.0m
2024 · €1.8m+€199,300
Cash
€58,771
2024 · €44,897+€13,875
Balance sheet total
€2.5m
2024 · €2.2m+€223,441
Largest movements
Assets
- Receivables within one year +€203,831
up €203,831 (+18.7%), from €1.1m to €1.3m
Equity and liabilities
- Reserves +€199,300
up €199,300 (+11.0%), from €1.8m to €2.0m
- Other debts +€118,882
up €118,882 (+950%), from €12,511 to €131,393
- Debts after one year -€69,278
down €69,278 (-30.1%), from €229,887 to €160,609
- Trade debts -€32,709
down €32,709 (-51.6%), from €63,401 to €30,692
Income statement
- Gross operating margin -€50,601
down €50,601 (-8.4%), from €602,523 to €551,921
- Depreciation -€18,572
down €18,572 (-26.9%), from €68,965 to €50,393
- Other operating charges +€8,138
up €8,138 (+155%), from €5,252 to €13,391
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.
Result 2024
€370,369
Gross operating margin
-€50,601
Depreciation
+€18,572
Other operating charges
-€8,138
Other operating items
+€10,228
Financial income
+€3,287
Financial charges
-€3,382
Taxes
-€767
Result 2025
€339,567
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€281,186
Investment
-€59,297
Financing
-€208,014
Cash 2024
€44,897
From operations (derived)
+€281,186
Net result for the year
+€339,567
Depreciation
+€50,393
Receivables within one year
-€203,831
Deferred charges and accrued income
+€3,169
Trade debts
-€32,709
Tax, wage and social debts
+€2,710
Other debts
+€118,882
Accrued charges and deferred income
+€3,004
Investment (derived)
-€59,297
Investment in fixed assets (net)
-€59,297
Financing
-€208,014
Debts after one year
-€69,278
Current portion of long-term debt
+€1,531
Contributions, distributions and other
-€140,267
Cash 2025
€58,771
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,246,851 | €2,470,291 | +€223,441 | +9.9% |
| Fixed assets | 21/28 | €1,037,048 | €1,045,951 | +€8,903 | +0.9% |
| Tangible fixed assets | 22/27 | €1,033,649 | €1,042,552 | +€8,903 | +0.9% |
| Land and buildings | 22 | €899,488 | €882,884 | -€16,604 | -1.8% |
| Plant, machinery and equipment | 23 | €96,822 | €78,631 | -€18,190 | -18.8% |
| Furniture and vehicles | 24 | €37,339 | €81,037 | +€43,698 | +117% |
| Financial fixed assets | 28 | €3,399 | €3,399 | = | 0.0% |
| Current assets | 29/58 | €1,209,803 | €1,424,340 | +€214,538 | +17.7% |
| Stocks and contracts in progress | 3 | €65,000 | €65,000 | = | 0.0% |
| Stocks | 30/36 | €65,000 | €65,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,091,075 | €1,294,906 | +€203,831 | +18.7% |
| Other amounts receivable | 41 | €1,091,075 | €1,294,906 | +€203,831 | +18.7% |
| Cash at bank and in hand | 54/58 | €44,897 | €58,771 | +€13,875 | +30.9% |
| Deferred charges and accrued income | 490/1 | €8,831 | €5,663 | -€3,169 | -35.9% |
| Total equity and liabilities | 10/49 | €2,246,851 | €2,470,291 | +€223,441 | +9.9% |
| Equity | 10/15 | €1,832,344 | €2,031,643 | +€199,300 | +10.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,819,944 | €2,019,243 | +€199,300 | +11.0% |
| Distributable reserves | 133 | €1,819,944 | €2,019,243 | +€199,300 | +11.0% |
| Amounts payable | 17/49 | €414,507 | €438,648 | +€24,141 | +5.8% |
| Amounts payable after more than one year | 17 | €229,887 | €160,609 | -€69,278 | -30.1% |
| Financial debts | 170/4 | €229,887 | €160,609 | -€69,278 | -30.1% |
| Amounts payable within one year | 42/48 | €181,058 | €271,474 | +€90,415 | +49.9% |
| Current portion of amounts payable after more than one year | 42 | €67,747 | €69,278 | +€1,531 | +2.3% |
| Trade debts | 44 | €63,401 | €30,692 | -€32,709 | -51.6% |
| Suppliers | 440/4 | €63,401 | €30,692 | -€32,709 | -51.6% |
| Taxes, remuneration and social security | 45 | €37,400 | €40,111 | +€2,710 | +7.2% |
| Taxes | 450/3 | €37,400 | €40,111 | +€2,710 | +7.2% |
| Other amounts payable | 47/48 | €12,511 | €131,393 | +€118,882 | +950% |
| Accrued charges and deferred income | 492/3 | €3,561 | €6,565 | +€3,004 | +84.4% |
| Non-recurring operating income | 76A | €975 | €0 | -€975 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,965 | €50,393 | -€18,572 | -26.9% |
| Other operating charges | 640/8 | €5,252 | €13,391 | +€8,138 | +155% |
| Non-recurring operating charges | 66A | €10,228 | €0 | -€10,228 | -100% |
| Gross operating margin | 9900 | €602,523 | €551,921 | -€50,601 | -8.4% |
| Operating profit (loss) | 9901 | €518,077 | €488,137 | -€29,940 | -5.8% |
| Financial income | 75/76B | €49,132 | €52,419 | +€3,287 | +6.7% |
| Recurring financial income | 75 | €49,132 | €52,419 | +€3,287 | +6.7% |
| Financial charges | 65/66B | €13,634 | €17,016 | +€3,382 | +24.8% |
| Recurring financial charges | 65 | €13,634 | €17,016 | +€3,382 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €553,575 | €523,540 | -€30,035 | -5.4% |
| Income taxes | 67/77 | €183,206 | €183,973 | +€767 | +0.4% |
| Profit (loss) for the period | 9904 | €370,369 | €339,567 | -€30,802 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €370,369 | €339,567 | -€30,802 | -8.3% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.