AdV Management 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.
AdV Management Services
Largest movements
- Current investments -€184,358
down €184,358 (-11.5%), from €1.6m to €1.4m
- Cash +€102,624
up €102,624 (+1,875%), from €5,472 to €108,096
mainly Current investments (+€184,358) and Receivables after one year (+€100,000)
- Receivables after one year -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Tangible fixed assets -€74,484
down €74,484 (-24.1%), from €309,437 to €234,953
of which Furniture and vehicles: -€47,694
- Reserves -€200,000
down €200,000 (-11.3%), from €1.8m to €1.6m
- Profit (loss) carried forward -€34,415
down €34,415 (-9.3%), from €368,319 to €333,904
- Debts after one year -€25,849
down €25,849 (-51.9%), from €49,760 to €23,911
- Financial charges -€48,726
down €48,726 (-82.9%), from €58,784 to €10,058
- Financial income -€46,330
down €46,330 (-60.1%), from €77,090 to €30,760
- Taxes -€4,933
down €4,933 (-95.5%), from €5,168 to €235
- Other operating charges -€2,840
down €2,840 (-59.4%), from €4,780 to €1,940
- Depreciation +€584
up €584 (+0.7%), from €84,722 to €85,306
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,240,006 | €1,984,393 | -€255,613 | -11.4% |
| Fixed assets | 21/28 | €309,598 | €235,114 | -€74,484 | -24.1% |
| Tangible fixed assets | 22/27 | €309,437 | €234,953 | -€74,484 | -24.1% |
| Land and buildings | 22 | €3,938 | €3,938 | = | 0.0% |
| Furniture and vehicles | 24 | €113,252 | €65,558 | -€47,694 | -42.1% |
| Other tangible fixed assets | 26 | €192,247 | €165,457 | -€26,790 | -13.9% |
| Financial fixed assets | 28 | €161 | €161 | = | 0.0% |
| Current assets | 29/58 | €1,930,408 | €1,749,279 | -€181,129 | -9.4% |
| Amounts receivable after more than one year | 29 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Other amounts receivable | 291 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €120,512 | €122,330 | +€1,818 | +1.5% |
| Trade receivables | 40 | €13,817 | €15,700 | +€1,883 | +13.6% |
| Other amounts receivable | 41 | €106,695 | €106,630 | -€65 | -0.1% |
| Current investments | 50/53 | €1,599,009 | €1,414,651 | -€184,358 | -11.5% |
| Cash at bank and in hand | 54/58 | €5,472 | €108,096 | +€102,624 | +1,875% |
| Deferred charges and accrued income | 490/1 | €5,415 | €4,202 | -€1,213 | -22.4% |
| Total equity and liabilities | 10/49 | €2,240,006 | €1,984,393 | -€255,613 | -11.4% |
| Equity | 10/15 | €2,152,679 | €1,918,264 | -€234,415 | -10.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €1,776,860 | €1,576,860 | -€200,000 | -11.3% |
| Distributable reserves | 133 | €1,776,860 | €1,576,860 | -€200,000 | -11.3% |
| Profit (loss) carried forward | 14 | €368,319 | €333,904 | -€34,415 | -9.3% |
| Amounts payable | 17/49 | €87,327 | €66,129 | -€21,198 | -24.3% |
| Amounts payable after more than one year | 17 | €49,760 | €23,911 | -€25,849 | -51.9% |
| Financial debts | 170/4 | €49,760 | €23,911 | -€25,849 | -51.9% |
| Amounts payable within one year | 42/48 | €37,567 | €40,813 | +€3,246 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €29,071 | €25,850 | -€3,221 | -11.1% |
| Trade debts | 44 | €642 | €5,968 | +€5,326 | +830% |
| Suppliers | 440/4 | €642 | €5,968 | +€5,326 | +830% |
| Taxes, remuneration and social security | 45 | €7,854 | €8,995 | +€1,141 | +14.5% |
| Taxes | 450/3 | €7,854 | €8,995 | +€1,141 | +14.5% |
| Accrued charges and deferred income | 492/3 | - | €1,405 | +€1,405 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,722 | €85,306 | +€584 | +0.7% |
| Other operating charges | 640/8 | €4,780 | €1,940 | -€2,840 | -59.4% |
| Gross operating margin | 9900 | €32,543 | €32,365 | -€178 | -0.5% |
| Operating profit (loss) | 9901 | -€56,959 | -€54,881 | +€2,078 | +3.6% |
| Financial income | 75/76B | €77,090 | €30,760 | -€46,330 | -60.1% |
| Recurring financial income | 75 | €77,090 | €30,760 | -€46,330 | -60.1% |
| Financial charges | 65/66B | €58,784 | €10,058 | -€48,726 | -82.9% |
| Recurring financial charges | 65 | €58,784 | €10,058 | -€48,726 | -82.9% |
| Profit (loss) for the period before taxes | 9903 | -€38,653 | -€34,179 | +€4,474 | +11.6% |
| Income taxes | 67/77 | €5,168 | €235 | -€4,933 | -95.5% |
| Profit (loss) for the period | 9904 | -€43,821 | -€34,414 | +€9,407 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,821 | -€34,414 | +€9,407 | +21.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.