BDO ADVISORY: 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.
What changed
BDO ADVISORY
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€28,217
2024 · €58,500-€30,283
Equity
€4.1m
2024 · €4.0m+€132,009
Cash
€26,324
2024 · €3,372+€22,951
Balance sheet total
€28.1m
2024 · €23.6m+€4.5m
Largest movements
Assets
- Receivables within one year +€3.5m
up €3.5m (+16.1%), from €21.6m to €25.1m
of which Trade receivables: +€3.4m
- Intangible fixed assets +€882,145
up €882,145 (+57.7%), from €1.5m to €2.4m
Equity and liabilities
- Other debts +€2.4m
up €2.4m (+24.1%), from €9.9m to €12.3m
- Trade debts +€2.0m
up €2.0m (+48.2%), from €4.1m to €6.1m
- Debts after one year -€310,192
down €310,192 (-100.0%), from €310,192 to €0
Income statement
- Turnover +€7.8m
up €7.8m (+14.2%), from €54.6m to €62.4m
- Services and other goods +€4.7m
up €4.7m (+15.4%), from €30.6m to €35.4m
- Staff costs +€2.3m
up €2.3m (+14.2%), from €16.3m to €18.6m
- Goods and materials +€1.3m
up €1.3m (+18.6%), from €6.9m to €8.2m
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.
Result 2024
€58,500
Turnover
+€7.8m
Other operating income
+€23,286
Goods and materials
-€1.3m
Services and other goods
-€4.7m
Staff costs
-€2.3m
Depreciation
-€69,324
Write-downs
-€72,910
Provisions
-€200,257
Other operating charges
+€168,485
Other operating items
+€692,827
Financial income
-€4,218
Financial charges
-€278,163
Taxes
+€276,013
Result 2025
€28,217
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.
From operations
+€1.6m
Investment
-€1.3m
Financing
-€206,399
Cash 2024
€3,372
From operations (derived)
+€1.6m
Net result for the year
+€28,217
Depreciation
+€357,528
Receivables within one year
-€3.5m
Deferred charges and accrued income
-€8,972
Provisions
+€176,587
Trade debts
+€2.0m
Tax, wage and social debts
+€49,765
Advances received
-€157,862
Other debts
+€2.4m
Accrued charges and deferred income
+€235,887
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.2m
Current investments
-€92,637
Financing
-€206,399
Debts after one year
-€310,192
Current portion of long-term debt
-€0
Contributions, distributions and other
+€103,792
Cash 2025
€26,324
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,561,092 | €28,063,558 | +€4.5m | +19.1% |
| Fixed assets | 21/28 | €1,727,092 | €2,615,780 | +€888,688 | +51.5% |
| Intangible fixed assets | 21 | €1,527,808 | €2,409,953 | +€882,145 | +57.7% |
| Tangible fixed assets | 22/27 | €1,147 | €0 | -€1,147 | -100.0% |
| Furniture and vehicles | 24 | €1,026 | €0 | -€1,026 | -100.0% |
| Other tangible fixed assets | 26 | €121 | €0 | -€121 | -100.0% |
| Financial fixed assets | 28 | €198,137 | €205,827 | +€7,690 | +3.9% |
| Other financial fixed assets | 284/8 | €198,137 | €205,827 | +€7,690 | +3.9% |
| Amounts receivable and cash guarantees | 285/8 | €198,137 | €205,827 | +€7,690 | +3.9% |
| Current assets | 29/58 | €21,834,000 | €25,447,778 | +€3.6m | +16.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €21,626,948 | €25,116,166 | +€3.5m | +16.1% |
| Trade receivables | 40 | €21,595,635 | €25,031,145 | +€3.4m | +15.9% |
| Other amounts receivable | 41 | €31,313 | €85,020 | +€53,707 | +171.5% |
| Current investments | 50/53 | €120,809 | €213,446 | +€92,637 | +76.7% |
| Other investments | 51/53 | €120,809 | €213,446 | +€92,637 | +76.7% |
| Cash at bank and in hand | 54/58 | €3,372 | €26,324 | +€22,951 | +680.6% |
| Deferred charges and accrued income | 490/1 | €82,871 | €91,843 | +€8,972 | +10.8% |
| Total equity and liabilities | 10/49 | €23,561,092 | €28,063,558 | +€4.5m | +19.1% |
| Equity | 10/15 | €3,966,123 | €4,098,132 | +€132,009 | +3.3% |
| Contributions | 10/11 | €2,706,530 | €2,719,030 | +€12,500 | +0.5% |
| Reserves | 13 | €859,048 | €871,048 | +€12,000 | +1.4% |
| Distributable reserves | 133 | €859,048 | €871,048 | +€12,000 | +1.4% |
| Profit (loss) carried forward | 14 | €400,545 | €508,054 | +€107,509 | +26.8% |
| Provisions and deferred taxes | 16 | €120,809 | €297,396 | +€176,587 | +146.2% |
| Provisions for liabilities and charges | 160/5 | €120,809 | €297,396 | +€176,587 | +146.2% |
| Other liabilities and charges | 164/5 | €120,809 | €297,396 | +€176,587 | +146.2% |
| Amounts payable | 17/49 | €19,474,161 | €23,668,030 | +€4.2m | +21.5% |
| Amounts payable after more than one year | 17 | €310,192 | €0 | -€310,192 | -100.0% |
| Financial debts | 170/4 | €310,192 | €0 | -€310,192 | -100.0% |
| Other loans | 174 | €310,192 | €0 | -€310,192 | -100.0% |
| Amounts payable within one year | 42/48 | €19,137,774 | €23,405,948 | +€4.3m | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €310,192 | €310,192 | -€0 | 0.0% |
| Trade debts | 44 | €4,121,806 | €6,108,431 | +€2.0m | +48.2% |
| Suppliers | 440/4 | €4,121,806 | €6,108,431 | +€2.0m | +48.2% |
| Advances received on contracts in progress | 46 | €1,188,106 | €1,030,244 | -€157,862 | -13.3% |
| Taxes, remuneration and social security | 45 | €3,588,262 | €3,638,027 | +€49,765 | +1.4% |
| Taxes | 450/3 | €773,442 | €488,819 | -€284,624 | -36.8% |
| Remuneration and social security | 454/9 | €2,814,819 | €3,149,209 | +€334,389 | +11.9% |
| Other amounts payable | 47/48 | €9,929,409 | €12,319,054 | +€2.4m | +24.1% |
| Accrued charges and deferred income | 492/3 | €26,195 | €262,082 | +€235,887 | +900.5% |
| Operating income | 70/76A | €55,304,163 | €63,777,526 | +€8.5m | +15.3% |
| Turnover | 70 | €54,647,943 | €62,404,046 | +€7.8m | +14.2% |
| Own construction capitalised | 72 | - | €699,343 | +€699,343 | |
| Other operating income | 74 | €650,851 | €674,137 | +€23,286 | +3.6% |
| Non-recurring operating income | 76A | €5,369 | €0 | -€5,369 | -100.0% |
| Operating charges | 60/66A | €54,304,179 | €62,801,457 | +€8.5m | +15.6% |
| Goods for resale, raw materials and consumables | 60 | €6,923,763 | €8,213,440 | +€1.3m | +18.6% |
| Purchases | 600/8 | €6,923,763 | €8,213,440 | +€1.3m | +18.6% |
| Services and other goods | 61 | €30,644,465 | €35,356,375 | +€4.7m | +15.4% |
| Remuneration, social security and pensions | 62 | €16,322,275 | €18,642,812 | +€2.3m | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €288,203 | €357,528 | +€69,324 | +24.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€42,129 | €30,782 | +€72,910 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€23,670 | €176,587 | +€200,257 | |
| Other operating charges | 640/8 | €191,271 | €22,786 | -€168,485 | -88.1% |
| Non-recurring operating charges | 66A | - | €1,147 | +€1,147 | |
| Operating profit (loss) | 9901 | €999,984 | €976,069 | -€23,915 | -2.4% |
| Financial income | 75/76B | €125,517 | €121,299 | -€4,218 | -3.4% |
| Recurring financial income | 75 | €125,517 | €121,299 | -€4,218 | -3.4% |
| Income from current assets | 751 | €124,273 | €113,545 | -€10,729 | -8.6% |
| Other financial income | 752/9 | €1,244 | €7,754 | +€6,510 | +523.3% |
| Financial charges | 65/66B | €645,464 | €923,627 | +€278,163 | +43.1% |
| Recurring financial charges | 65 | €645,464 | €923,627 | +€278,163 | +43.1% |
| Debt charges | 650 | €625,757 | €853,780 | +€228,023 | +36.4% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €3,281 | €29,942 | +€26,661 | +812.5% |
| Other financial charges | 652/9 | €16,425 | €39,905 | +€23,479 | +142.9% |
| Profit (loss) for the period before taxes | 9903 | €480,038 | €173,741 | -€306,296 | -63.8% |
| Income taxes | 67/77 | €421,537 | €145,525 | -€276,013 | -65.5% |
| Taxes | 670/3 | €421,537 | €230,000 | -€191,537 | -45.4% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €84,475 | +€84,475 | |
| Profit (loss) for the period | 9904 | €58,500 | €28,217 | -€30,283 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €58,500 | €28,217 | -€30,283 | -51.8% |
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 30 September 2026 via checked.be.