CF ADVISORY: 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.
CF ADVISORY
Largest movements
- Cash -€22,361
down €22,361 (-63.2%), from €35,368 to €13,007
mainly Contributions, distributions and other (-€94,118) and Investment in fixed assets (net) (-€35,870)
- Receivables within one year +€18,085
up €18,085 (+52.4%), from €34,506 to €52,591
- Tangible fixed assets +€17,164
up €17,164 (+3.8%), from €446,261 to €463,425
of which Furniture and vehicles: +€34,874
- Profit (loss) carried forward -€44,165
down €44,165 (-22.6%), from €195,179 to €151,014
- Other debts +€33,787
up €33,787 (+87.5%), from €38,608 to €72,396
- Debts after one year +€10,934
up €10,934 (+4.5%), from €244,639 to €255,573
- Current portion of long-term debt +€7,743
up €7,743 (+86.9%), from €8,910 to €16,652
- Tax, wage and social debts +€5,463
up €5,463 (+25.5%), from €21,384 to €26,847
- Gross operating margin -€64,401
down €64,401 (-40.0%), from €161,090 to €96,689
- Depreciation -€53,652
down €53,652 (-74.1%), from €72,358 to €18,706
- Taxes -€5,698
down €5,698 (-26.0%), from €21,907 to €16,209
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 | €516,134 | €529,022 | +€12,888 | +2.5% |
| Fixed assets | 21/28 | €446,261 | €463,425 | +€17,164 | +3.8% |
| Tangible fixed assets | 22/27 | €446,261 | €463,425 | +€17,164 | +3.8% |
| Land and buildings | 22 | €446,151 | €428,551 | -€17,600 | -3.9% |
| Plant, machinery and equipment | 23 | €110 | - | -€110 | |
| Furniture and vehicles | 24 | - | €34,874 | +€34,874 | |
| Current assets | 29/58 | €69,873 | €65,597 | -€4,276 | -6.1% |
| Amounts receivable within one year | 40/41 | €34,506 | €52,591 | +€18,085 | +52.4% |
| Trade receivables | 40 | €34,506 | €52,591 | +€18,085 | +52.4% |
| Cash at bank and in hand | 54/58 | €35,368 | €13,007 | -€22,361 | -63.2% |
| Total equity and liabilities | 10/49 | €516,134 | €529,022 | +€12,888 | +2.5% |
| Equity | 10/15 | €200,179 | €156,014 | -€44,165 | -22.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €195,179 | €151,014 | -€44,165 | -22.6% |
| Amounts payable | 17/49 | €315,955 | €373,008 | +€57,053 | +18.1% |
| Amounts payable after more than one year | 17 | €244,639 | €255,573 | +€10,934 | +4.5% |
| Financial debts | 170/4 | €244,639 | €255,573 | +€10,934 | +4.5% |
| Amounts payable within one year | 42/48 | €71,316 | €117,435 | +€46,120 | +64.7% |
| Current portion of amounts payable after more than one year | 42 | €8,910 | €16,652 | +€7,743 | +86.9% |
| Trade debts | 44 | €2,414 | €1,540 | -€874 | -36.2% |
| Suppliers | 440/4 | €2,414 | €1,540 | -€874 | -36.2% |
| Taxes, remuneration and social security | 45 | €21,384 | €26,847 | +€5,463 | +25.5% |
| Taxes | 450/3 | €21,384 | €26,847 | +€5,463 | +25.5% |
| Other amounts payable | 47/48 | €38,608 | €72,396 | +€33,787 | +87.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,358 | €18,706 | -€53,652 | -74.1% |
| Other operating charges | 640/8 | €1,247 | €1,730 | +€483 | +38.7% |
| Gross operating margin | 9900 | €161,090 | €96,689 | -€64,401 | -40.0% |
| Operating profit (loss) | 9901 | €87,485 | €76,253 | -€11,232 | -12.8% |
| Financial income | 75/76B | €541 | €15 | -€526 | -97.2% |
| Recurring financial income | 75 | €541 | €15 | -€526 | -97.2% |
| Financial charges | 65/66B | €8,873 | €10,106 | +€1,234 | +13.9% |
| Recurring financial charges | 65 | €8,873 | €10,106 | +€1,234 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €79,153 | €66,162 | -€12,992 | -16.4% |
| Income taxes | 67/77 | €21,907 | €16,209 | -€5,698 | -26.0% |
| Profit (loss) for the period | 9904 | €57,247 | €49,952 | -€7,294 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €57,247 | €49,952 | -€7,294 | -12.7% |
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 23 October 2026 via checked.be.