ADVEX: 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.
ADVEX
Largest movements
- Receivables within one year +€75,621
up €75,621 (+44.8%), from €168,663 to €244,284
- Cash +€31,518
up €31,518 (+40.6%), from €77,686 to €109,204
mainly Trade debts (+€133,739) and Net result for the year (+€73,296)
- Tangible fixed assets +€27,963
up €27,963 (+483%), from €5,784 to €33,748
- Trade debts +€133,739
up €133,739 (+93.1%), from €143,679 to €277,418
- Other debts -€44,412
down €44,412 (-49.6%), from €89,588 to €45,176
- Profit (loss) carried forward +€28,296
up €28,296 (+99.0%), from €28,584 to €56,881
- Debts after one year +€19,143
new in 2025: €19,143
- Tax, wage and social debts -€10,951
down €10,951 (-15.4%), from €71,077 to €60,127
of which Taxes: -€18,370
- Gross operating margin +€104,273
up €104,273 (+93.9%), from €111,012 to €215,285
- Staff costs +€70,539
up €70,539 (+296%), from €23,847 to €94,385
- Taxes +€7,833
up €7,833 (+40.6%), from €19,304 to €27,137
- Depreciation +€3,399
up €3,399 (+54.2%), from €6,269 to €9,668
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 | €345,139 | €475,935 | +€130,796 | +37.9% |
| Fixed assets | 21/28 | €93,769 | €114,632 | +€20,862 | +22.2% |
| Intangible fixed assets | 21 | €16,295 | €12,380 | -€3,915 | -24.0% |
| Tangible fixed assets | 22/27 | €5,784 | €33,748 | +€27,963 | +483% |
| Furniture and vehicles | 24 | €5,784 | €33,748 | +€27,963 | +483% |
| Financial fixed assets | 28 | €71,690 | €68,504 | -€3,186 | -4.4% |
| Current assets | 29/58 | €251,370 | €361,303 | +€109,933 | +43.7% |
| Amounts receivable within one year | 40/41 | €168,663 | €244,284 | +€75,621 | +44.8% |
| Trade receivables | 40 | €168,663 | €244,284 | +€75,621 | +44.8% |
| Cash at bank and in hand | 54/58 | €77,686 | €109,204 | +€31,518 | +40.6% |
| Deferred charges and accrued income | 490/1 | €5,020 | €7,814 | +€2,794 | +55.7% |
| Total equity and liabilities | 10/49 | €345,139 | €475,935 | +€130,796 | +37.9% |
| Equity | 10/15 | €38,584 | €66,881 | +€28,296 | +73.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,584 | €56,881 | +€28,296 | +99.0% |
| Amounts payable | 17/49 | €306,555 | €409,054 | +€102,499 | +33.4% |
| Amounts payable after more than one year | 17 | - | €19,143 | +€19,143 | |
| Financial debts | 170/4 | - | €19,143 | +€19,143 | |
| Amounts payable within one year | 42/48 | €306,529 | €389,249 | +€82,720 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | €2,007 | €5,975 | +€3,967 | +198% |
| Financial debts | 43 | €177 | €554 | +€377 | +213% |
| Credit institutions | 430/8 | €177 | €554 | +€377 | +213% |
| Trade debts | 44 | €143,679 | €277,418 | +€133,739 | +93.1% |
| Suppliers | 440/4 | €143,679 | €277,418 | +€133,739 | +93.1% |
| Taxes, remuneration and social security | 45 | €71,077 | €60,127 | -€10,951 | -15.4% |
| Taxes | 450/3 | €67,909 | €49,539 | -€18,370 | -27.1% |
| Remuneration and social security | 454/9 | €3,168 | €10,587 | +€7,419 | +234% |
| Other amounts payable | 47/48 | €89,588 | €45,176 | -€44,412 | -49.6% |
| Accrued charges and deferred income | 492/3 | €26 | €662 | +€636 | +2,459% |
| Remuneration, social security and pensions | 62 | €23,847 | €94,385 | +€70,539 | +296% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,269 | €9,668 | +€3,399 | +54.2% |
| Other operating charges | 640/8 | €1,682 | €1,456 | -€226 | -13.4% |
| Non-recurring operating charges | 66A | - | €8,000 | +€8,000 | |
| Gross operating margin | 9900 | €111,012 | €215,285 | +€104,273 | +93.9% |
| Operating profit (loss) | 9901 | €79,215 | €101,776 | +€22,561 | +28.5% |
| Financial income | 75/76B | €232 | €116 | -€116 | -49.9% |
| Recurring financial income | 75 | €232 | €116 | -€116 | -49.9% |
| Financial charges | 65/66B | €1,538 | €1,459 | -€79 | -5.2% |
| Recurring financial charges | 65 | €1,538 | €1,459 | -€79 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €77,909 | €100,433 | +€22,525 | +28.9% |
| Income taxes | 67/77 | €19,304 | €27,137 | +€7,833 | +40.6% |
| Profit (loss) for the period | 9904 | €58,604 | €73,296 | +€14,692 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,604 | €73,296 | +€14,692 | +25.1% |
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 20 October 2026 via checked.be.