AD - FI - CON: 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 - FI - CON
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€28,354
2024 · €187-€28,541
Equity
€972,700
2024 · €1.0m-€28,354
Cash
€80,202
2024 · €87,529-€7,327
Balance sheet total
€1.1m
2024 · €1.1m-€44,421
Largest movements
Assets
- Current investments -€310,373
down €310,373 (-32.6%), from €952,359 to €641,986
- Tangible fixed assets +€261,340
up €261,340 (+338%), from €77,229 to €338,569
of which Land and buildings: +€259,673
Equity and liabilities
- Reserves -€19,884
down €19,884 (-3.0%), from €672,771 to €652,887
of which Tax-exempt reserves: -€19,884
Income statement
- Depreciation +€61,429
up €61,429 (+1,617%), from €3,798 to €65,227
- Financial income +€22,511
up €22,511 (+89.7%), from €25,090 to €47,601
of which Financial income: +€22,511
- Gross operating margin +€2,468
up €2,468 (+19.1%), from -€12,905 to -€10,437
- Taxes -€626
down €626 (-82.7%), from €757 to €131
- Financial charges -€376
down €376 (-7.5%), from €5,015 to €4,640
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
€187
Gross operating margin
+€2,468
Depreciation
-€61,429
Other operating charges
-€94
Other operating items
+€373
Financial income
+€22,511
Financial charges
+€376
Taxes
+€626
Deferred taxes and other
+€6,628
Result 2025
-€28,354
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
+€8,867
Investment
-€16,195
Financing
€0
Cash 2024
€87,529
From operations (derived)
+€8,867
Net result for the year
-€28,354
Depreciation
+€65,227
Receivables within one year
-€2,227
Deferred charges and accrued income
-€9,712
Provisions
-€6,628
Trade debts
-€3,129
Tax, wage and social debts
-€4,804
Advances received
+€83
Other debts
-€4,672
Accrued charges and deferred income
+€3,083
Investment (derived)
-€16,195
Investment in fixed assets (net)
-€326,568
Current investments
+€310,373
Cash 2025
€80,202
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,131,128 | €1,086,707 | -€44,421 | -3.9% |
| Fixed assets | 21/28 | €77,229 | €338,569 | +€261,340 | +338% |
| Tangible fixed assets | 22/27 | €77,229 | €338,569 | +€261,340 | +338% |
| Land and buildings | 22 | €76,510 | €336,183 | +€259,673 | +339% |
| Plant, machinery and equipment | 23 | €636 | €374 | -€262 | -41.2% |
| Furniture and vehicles | 24 | €82 | €2,012 | +€1,930 | +2,354% |
| Current assets | 29/58 | €1,053,900 | €748,138 | -€305,762 | -29.0% |
| Amounts receivable within one year | 40/41 | €12,570 | €14,797 | +€2,227 | +17.7% |
| Trade receivables | 40 | €2,700 | €7,211 | +€4,512 | +167% |
| Other amounts receivable | 41 | €9,870 | €7,586 | -€2,285 | -23.1% |
| Current investments | 50/53 | €952,359 | €641,986 | -€310,373 | -32.6% |
| Cash at bank and in hand | 54/58 | €87,529 | €80,202 | -€7,327 | -8.4% |
| Deferred charges and accrued income | 490/1 | €1,441 | €11,153 | +€9,712 | +674% |
| Total equity and liabilities | 10/49 | €1,131,128 | €1,086,707 | -€44,421 | -3.9% |
| Equity | 10/15 | €1,001,055 | €972,700 | -€28,354 | -2.8% |
| Contributions | 10/11 | €63,709 | €63,709 | = | 0.0% |
| Revaluation surpluses | 12 | €76,510 | €73,110 | -€3,400 | -4.4% |
| Reserves | 13 | €672,771 | €652,887 | -€19,884 | -3.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €149,872 | €129,988 | -€19,884 | -13.3% |
| Distributable reserves | 133 | €522,899 | €522,899 | = | 0.0% |
| Profit (loss) carried forward | 14 | €188,065 | €182,994 | -€5,070 | -2.7% |
| Provisions and deferred taxes | 16 | €47,791 | €41,163 | -€6,628 | -13.9% |
| Deferred taxes | 168 | €47,791 | €41,163 | -€6,628 | -13.9% |
| Amounts payable | 17/49 | €82,283 | €72,844 | -€9,439 | -11.5% |
| Amounts payable within one year | 42/48 | €74,775 | €62,252 | -€12,522 | -16.7% |
| Trade debts | 44 | €3,791 | €662 | -€3,129 | -82.5% |
| Suppliers | 440/4 | €3,791 | €662 | -€3,129 | -82.5% |
| Advances received on contracts in progress | 46 | - | €83 | +€83 | |
| Taxes, remuneration and social security | 45 | €6,011 | €1,207 | -€4,804 | -79.9% |
| Taxes | 450/3 | €911 | €1,207 | +€296 | +32.4% |
| Remuneration and social security | 454/9 | €5,100 | €0 | -€5,100 | -100% |
| Other amounts payable | 47/48 | €64,972 | €60,300 | -€4,672 | -7.2% |
| Accrued charges and deferred income | 492/3 | €7,509 | €10,592 | +€3,083 | +41.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,798 | €65,227 | +€61,429 | +1,617% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €2,055 | €2,148 | +€94 | +4.6% |
| Non-recurring operating charges | 66A | €373 | €0 | -€373 | -100% |
| Gross operating margin | 9900 | -€12,905 | -€10,437 | +€2,468 | +19.1% |
| Operating profit (loss) | 9901 | -€19,131 | -€77,813 | -€58,682 | -307% |
| Financial income | 75/76B | €25,090 | €47,601 | +€22,511 | +89.7% |
| Recurring financial income | 75 | €25,090 | €47,601 | +€22,511 | +89.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,015 | €4,640 | -€376 | -7.5% |
| Recurring financial charges | 65 | €5,015 | €4,640 | -€376 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €944 | -€34,852 | -€35,796 | |
| Transfer from deferred taxes | 780 | - | €6,628 | +€6,628 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €757 | €131 | -€626 | -82.7% |
| Profit (loss) for the period | 9904 | €187 | -€28,354 | -€28,541 | |
| Transfer from tax-exempt reserves | 789 | €3,400 | €23,284 | +€19,884 | +585% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €3,587 | -€5,070 | -€8,657 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.