CTH 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.
CTH ADVISORY
Largest movements
- Cash +€59,854
up €59,854 (+201%), from €29,742 to €89,597
mainly Net result for the year (+€46,007) and Receivables within one year (+€7,688)
- Tangible fixed assets -€8,330
down €8,330 (-79.6%), from €10,462 to €2,132
- Receivables within one year -€7,688
down €7,688 (-73.8%), from €10,413 to €2,725
of which Trade receivables: -€10,254
- Deferred charges and accrued income +€1,087
up €1,087 (+152%), from €713 to €1,800
- Profit (loss) carried forward +€46,007
up €46,007 (+141%), from €32,546 to €78,553
- Debts after one year -€2,242
down €2,242 (-47.6%), from €4,716 to €2,473
- Gross operating margin +€16,804
up €16,804 (+36.2%), from €46,457 to €63,262
- Taxes +€4,350
up €4,350 (+45.4%), from €9,574 to €13,924
- Depreciation -€1,018
down €1,018 (-33.4%), from €3,049 to €2,031
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 | €51,878 | €96,253 | +€44,375 | +85.5% |
| Formation expenses | 20 | €548 | €0 | -€548 | -100% |
| Fixed assets | 21/28 | €10,462 | €2,132 | -€8,330 | -79.6% |
| Tangible fixed assets | 22/27 | €10,462 | €2,132 | -€8,330 | -79.6% |
| Furniture and vehicles | 24 | €10,462 | €2,132 | -€8,330 | -79.6% |
| Current assets | 29/58 | €40,869 | €94,121 | +€53,253 | +130% |
| Amounts receivable within one year | 40/41 | €10,413 | €2,725 | -€7,688 | -73.8% |
| Trade receivables | 40 | €10,254 | - | -€10,254 | |
| Other amounts receivable | 41 | €159 | €2,725 | +€2,566 | +1,612% |
| Cash at bank and in hand | 54/58 | €29,742 | €89,597 | +€59,854 | +201% |
| Deferred charges and accrued income | 490/1 | €713 | €1,800 | +€1,087 | +152% |
| Total equity and liabilities | 10/49 | €51,878 | €96,253 | +€44,375 | +85.5% |
| Equity | 10/15 | €36,546 | €82,553 | +€46,007 | +126% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,546 | €78,553 | +€46,007 | +141% |
| Amounts payable | 17/49 | €15,332 | €13,700 | -€1,632 | -10.6% |
| Amounts payable after more than one year | 17 | €4,716 | €2,473 | -€2,242 | -47.6% |
| Financial debts | 170/4 | €4,716 | €2,473 | -€2,242 | -47.6% |
| Amounts payable within one year | 42/48 | €10,616 | €11,227 | +€610 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €2,033 | €2,242 | +€209 | +10.3% |
| Trade debts | 44 | €3,384 | €3,485 | +€101 | +3.0% |
| Suppliers | 440/4 | €3,384 | €3,485 | +€101 | +3.0% |
| Taxes, remuneration and social security | 45 | €5,111 | €5,318 | +€206 | +4.0% |
| Taxes | 450/3 | €5,111 | €5,318 | +€206 | +4.0% |
| Other amounts payable | 47/48 | €88 | €182 | +€94 | +106% |
| Non-recurring operating income | 76A | - | €1,748 | +€1,748 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,049 | €2,031 | -€1,018 | -33.4% |
| Other operating charges | 640/8 | €276 | €480 | +€204 | +73.8% |
| Gross operating margin | 9900 | €46,457 | €63,262 | +€16,804 | +36.2% |
| Operating profit (loss) | 9901 | €43,132 | €60,750 | +€17,618 | +40.8% |
| Financial charges | 65/66B | €1,012 | €819 | -€193 | -19.1% |
| Recurring financial charges | 65 | €1,012 | €819 | -€193 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €42,120 | €59,931 | +€17,811 | +42.3% |
| Income taxes | 67/77 | €9,574 | €13,924 | +€4,350 | +45.4% |
| Profit (loss) for the period | 9904 | €32,546 | €46,007 | +€13,461 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,546 | €46,007 | +€13,461 | +41.4% |
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 21 October 2026 via checked.be.