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.
ADVISORY SERVICES
Largest movements
- Current investments -€64,751
down €64,751 (-18.6%), from €347,287 to €282,536
- Cash +€34,011
up €34,011 (+49.4%), from €68,797 to €102,808
mainly Current investments (+€64,751) and Depreciation (+€6,509)
- Tangible fixed assets -€6,509
down €6,509 (-23.2%), from €28,076 to €21,567
of which Land and buildings: -€4,814
- Reserves -€34,421
down €34,421 (-10.7%), from €321,483 to €287,062
of which Distributable reserves: -€34,421
- Gross operating margin -€30,872
down €30,872 (-902.2%), from -€3,422 to -€34,293
- Financial income -€7,525
down €7,525 (-43.1%), from €17,443 to €9,918
- Financial charges -€4,745
down €4,745 (-88.9%), from €5,339 to €594
- Other operating charges +€352
up €352 (+17.7%), from €1,987 to €2,339
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €456,405 | €422,197 | -€34,207 | -7.5% |
| Fixed assets | 21/28 | €28,126 | €21,617 | -€6,509 | -23.1% |
| Tangible fixed assets | 22/27 | €28,076 | €21,567 | -€6,509 | -23.2% |
| Land and buildings | 22 | €19,256 | €14,442 | -€4,814 | -25.0% |
| Furniture and vehicles | 24 | €2,802 | €1,788 | -€1,014 | -36.2% |
| Other tangible fixed assets | 26 | €6,018 | €5,336 | -€681 | -11.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €428,279 | €400,581 | -€27,698 | -6.5% |
| Amounts receivable within one year | 40/41 | €7,966 | €10,481 | +€2,514 | +31.6% |
| Trade receivables | 40 | €3,304 | €6,900 | +€3,596 | +108.8% |
| Other amounts receivable | 41 | €4,662 | €3,581 | -€1,082 | -23.2% |
| Current investments | 50/53 | €347,287 | €282,536 | -€64,751 | -18.6% |
| Cash at bank and in hand | 54/58 | €68,797 | €102,808 | +€34,011 | +49.4% |
| Deferred charges and accrued income | 490/1 | €4,229 | €4,756 | +€528 | +12.5% |
| Total equity and liabilities | 10/49 | €456,405 | €422,197 | -€34,207 | -7.5% |
| Equity | 10/15 | €382,983 | €349,032 | -€33,951 | -8.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €321,483 | €287,062 | -€34,421 | -10.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €315,333 | €280,912 | -€34,421 | -10.9% |
| Profit (loss) carried forward | 14 | - | €470 | +€470 | |
| Amounts payable | 17/49 | €73,422 | €73,166 | -€256 | -0.3% |
| Amounts payable within one year | 42/48 | €67,747 | €71,739 | +€3,992 | +5.9% |
| Financial debts | 43 | €848 | €565 | -€282 | -33.3% |
| Credit institutions | 430/8 | €848 | €565 | -€282 | -33.3% |
| Trade debts | 44 | €8,527 | €8,657 | +€130 | +1.5% |
| Suppliers | 440/4 | €8,527 | €8,657 | +€130 | +1.5% |
| Taxes, remuneration and social security | 45 | €347 | €0 | -€347 | -100.0% |
| Taxes | 450/3 | €347 | €0 | -€347 | -100.0% |
| Other amounts payable | 47/48 | €58,024 | €62,516 | +€4,492 | +7.7% |
| Accrued charges and deferred income | 492/3 | €5,676 | €1,427 | -€4,249 | -74.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,292 | €6,509 | +€217 | +3.5% |
| Other operating charges | 640/8 | €1,987 | €2,339 | +€352 | +17.7% |
| Gross operating margin | 9900 | -€3,422 | -€34,293 | -€30,872 | -902.2% |
| Operating profit (loss) | 9901 | -€11,701 | -€43,142 | -€31,441 | -268.7% |
| Financial income | 75/76B | €17,443 | €9,918 | -€7,525 | -43.1% |
| Recurring financial income | 75 | €17,443 | €9,918 | -€7,525 | -43.1% |
| Financial charges | 65/66B | €5,339 | €594 | -€4,745 | -88.9% |
| Recurring financial charges | 65 | €5,339 | €594 | -€4,745 | -88.9% |
| Profit (loss) for the period before taxes | 9903 | €403 | -€33,817 | -€34,220 | |
| Income taxes | 67/77 | €104 | €134 | +€31 | +29.4% |
| Profit (loss) for the period | 9904 | €299 | -€33,951 | -€34,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €299 | -€33,951 | -€34,250 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.