ADVOGANDA: 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.
ADVOGANDA
Largest movements
- Current investments +€153,777
new in 2025: €153,777
- Cash -€45,989
down €45,989 (-43.1%), from €106,789 to €60,800
mainly Contributions, distributions and other (-€164,000) and Current investments (-€153,777)
- Receivables within one year -€42,336
down €42,336 (-48.7%), from €86,913 to €44,577
of which Trade receivables: -€42,921
- Other debts +€52,000
up €52,000 (+46.4%), from €112,000 to €164,000
- Trade debts +€27,533
up €27,533 (+88.8%), from €30,989 to €58,522
- Advances received -€14,798
no longer reported in 2025 (was €14,798)
- Gross operating margin +€48,469
up €48,469 (+33.7%), from €143,924 to €192,393
- Staff costs -€3,530
down €3,530 (-12.0%), from €29,374 to €25,845
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 | €197,812 | €262,148 | +€64,336 | +32.5% |
| Fixed assets | 21/28 | €3,607 | €2,237 | -€1,370 | -38.0% |
| Tangible fixed assets | 22/27 | €3,607 | €2,237 | -€1,370 | -38.0% |
| Plant, machinery and equipment | 23 | €3,607 | - | -€3,607 | |
| Furniture and vehicles | 24 | - | €2,237 | +€2,237 | |
| Current assets | 29/58 | €194,206 | €259,911 | +€65,705 | +33.8% |
| Amounts receivable within one year | 40/41 | €86,913 | €44,577 | -€42,336 | -48.7% |
| Trade receivables | 40 | €86,913 | €43,992 | -€42,921 | -49.4% |
| Other amounts receivable | 41 | - | €585 | +€585 | |
| Current investments | 50/53 | - | €153,777 | +€153,777 | |
| Cash at bank and in hand | 54/58 | €106,789 | €60,800 | -€45,989 | -43.1% |
| Deferred charges and accrued income | 490/1 | €504 | €757 | +€253 | +50.2% |
| Total equity and liabilities | 10/49 | €197,812 | €262,148 | +€64,336 | +32.5% |
| Equity | 10/15 | €29,285 | €29,750 | +€465 | +1.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €24,285 | €24,750 | +€465 | +1.9% |
| Distributable reserves | 133 | €24,285 | €24,750 | +€465 | +1.9% |
| Amounts payable | 17/49 | €168,527 | €232,398 | +€63,871 | +37.9% |
| Amounts payable within one year | 42/48 | €168,527 | €232,363 | +€63,836 | +37.9% |
| Trade debts | 44 | €30,989 | €58,522 | +€27,533 | +88.8% |
| Suppliers | 440/4 | €30,989 | €58,522 | +€27,533 | +88.8% |
| Advances received on contracts in progress | 46 | €14,798 | - | -€14,798 | |
| Taxes, remuneration and social security | 45 | €10,740 | €9,841 | -€899 | -8.4% |
| Taxes | 450/3 | €7,174 | €6,610 | -€565 | -7.9% |
| Remuneration and social security | 454/9 | €3,566 | €3,232 | -€334 | -9.4% |
| Other amounts payable | 47/48 | €112,000 | €164,000 | +€52,000 | +46.4% |
| Accrued charges and deferred income | 492/3 | - | €35 | +€35 | |
| Remuneration, social security and pensions | 62 | €29,374 | €25,845 | -€3,530 | -12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,370 | €1,370 | = | 0.0% |
| Other operating charges | 640/8 | €890 | €597 | -€293 | -32.9% |
| Gross operating margin | 9900 | €143,924 | €192,393 | +€48,469 | +33.7% |
| Operating profit (loss) | 9901 | €112,289 | €164,581 | +€52,292 | +46.6% |
| Financial income | 75/76B | €591 | €1,548 | +€957 | +162.1% |
| Recurring financial income | 75 | €591 | €1,548 | +€957 | +162.1% |
| Financial charges | 65/66B | €217 | €864 | +€648 | +298.9% |
| Recurring financial charges | 65 | €217 | €864 | +€648 | +298.9% |
| Profit (loss) for the period before taxes | 9903 | €112,663 | €165,264 | +€52,601 | +46.7% |
| Income taxes | 67/77 | €1,031 | €800 | -€231 | -22.4% |
| Profit (loss) for the period | 9904 | €111,632 | €164,465 | +€52,832 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €111,632 | €164,465 | +€52,832 | +47.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.