ADVISORY 23: what changed
Two fiscal 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.
ADVISORY 23
Largest movements
- Cash +€28,479
up €28,479 (+30.4%), from €93,676 to €122,155
mainly Net result for the year (+€47,414) and Depreciation (+€1,700)
- Receivables within one year +€10,410
up €10,410 (+138.8%), from €7,502 to €17,912
- Tangible fixed assets -€1,700
down €1,700 (-26.5%), from €6,426 to €4,726
- Profit (loss) carried forward +€47,414
up €47,414 (+62.9%), from €75,387 to €122,800
- Tax, wage and social debts -€9,224
down €9,224 (-32.6%), from €28,307 to €19,083
of which Taxes: -€9,202
- Gross operating margin -€42,182
down €42,182 (-39.5%), from €106,850 to €64,668
- Taxes -€7,013
down €7,013 (-36.3%), from €19,299 to €12,286
- Other operating charges -€3,383
down €3,383 (-96.2%), from €3,518 to €135
- Staff costs -€2,184
no longer reported in 2025 (was €2,184)
- Financial charges -€1,285
down €1,285 (-29.1%), from €4,419 to €3,134
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.
Cash bridge derived
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 | €108,498 | €145,944 | +€37,446 | +34.5% |
| Fixed assets | 21/28 | €6,426 | €4,726 | -€1,700 | -26.5% |
| Tangible fixed assets | 22/27 | €6,426 | €4,726 | -€1,700 | -26.5% |
| Furniture and vehicles | 24 | €6,426 | €4,726 | -€1,700 | -26.5% |
| Current assets | 29/58 | €102,073 | €141,219 | +€39,146 | +38.4% |
| Amounts receivable within one year | 40/41 | €7,502 | €17,912 | +€10,410 | +138.8% |
| Trade receivables | 40 | €7,502 | €17,912 | +€10,410 | +138.8% |
| Cash at bank and in hand | 54/58 | €93,676 | €122,155 | +€28,479 | +30.4% |
| Deferred charges and accrued income | 490/1 | €894 | €1,152 | +€257 | +28.8% |
| Total equity and liabilities | 10/49 | €108,498 | €145,944 | +€37,446 | +34.5% |
| Equity | 10/15 | €79,387 | €126,800 | +€47,414 | +59.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,387 | €122,800 | +€47,414 | +62.9% |
| Amounts payable | 17/49 | €29,112 | €19,144 | -€9,968 | -34.2% |
| Amounts payable within one year | 42/48 | €29,112 | €19,144 | -€9,968 | -34.2% |
| Trade debts | 44 | €698 | - | -€698 | |
| Suppliers | 440/4 | €698 | - | -€698 | |
| Taxes, remuneration and social security | 45 | €28,307 | €19,083 | -€9,224 | -32.6% |
| Taxes | 450/3 | €28,286 | €19,083 | -€9,202 | -32.5% |
| Remuneration and social security | 454/9 | €22 | - | -€22 | |
| Other amounts payable | 47/48 | €106 | €60 | -€46 | -43.0% |
| Remuneration, social security and pensions | 62 | €2,184 | - | -€2,184 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,074 | €1,700 | -€374 | -18.1% |
| Other operating charges | 640/8 | €3,518 | €135 | -€3,383 | -96.2% |
| Gross operating margin | 9900 | €106,850 | €64,668 | -€42,182 | -39.5% |
| Operating profit (loss) | 9901 | €99,075 | €62,834 | -€36,241 | -36.6% |
| Financial income | 75/76B | €30 | €0 | -€30 | -100.0% |
| Recurring financial income | 75 | €30 | €0 | -€30 | -100.0% |
| Financial charges | 65/66B | €4,419 | €3,134 | -€1,285 | -29.1% |
| Recurring financial charges | 65 | €4,419 | €3,134 | -€1,285 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €94,685 | €59,699 | -€34,986 | -36.9% |
| Income taxes | 67/77 | €19,299 | €12,286 | -€7,013 | -36.3% |
| Profit (loss) for the period | 9904 | €75,387 | €47,414 | -€27,973 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €75,387 | €47,414 | -€27,973 | -37.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.