DM 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.
DM Advisory
Largest movements
- Cash +€26,126
up €26,126 (+18.2%), from €143,912 to €170,038
mainly Net result for the year (+€36,454) and Other debts (+€26,492)
- Receivables within one year -€7,709
down €7,709 (-25.0%), from €30,814 to €23,105
of which Trade receivables: -€11,251
- Deferred charges and accrued income -€2,114
down €2,114 (-63.7%), from €3,316 to €1,203
- Other debts +€26,492
up €26,492 (+265%), from €10,000 to €36,492
- Trade debts -€9,394
down €9,394 (-93.4%), from €10,062 to €668
- Tax, wage and social debts -€2,475
down €2,475 (-13.7%), from €18,113 to €15,638
of which Taxes: -€5,185
- Gross operating margin +€5,951
up €5,951 (+11.6%), from €51,114 to €57,065
- Financial charges +€1,180
up €1,180 (+437%), from €270 to €1,450
- Taxes -€1,042
down €1,042 (-7.3%), from €14,247 to €13,205
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 | €184,761 | €199,346 | +€14,585 | +7.9% |
| Fixed assets | 21/28 | €6,719 | €5,000 | -€1,718 | -25.6% |
| Tangible fixed assets | 22/27 | €6,719 | €5,000 | -€1,718 | -25.6% |
| Plant, machinery and equipment | 23 | €504 | €1,459 | +€955 | +189% |
| Furniture and vehicles | 24 | €6,214 | €3,541 | -€2,673 | -43.0% |
| Current assets | 29/58 | €178,042 | €194,346 | +€16,304 | +9.2% |
| Amounts receivable within one year | 40/41 | €30,814 | €23,105 | -€7,709 | -25.0% |
| Trade receivables | 40 | €26,981 | €15,730 | -€11,251 | -41.7% |
| Other amounts receivable | 41 | €3,833 | €7,375 | +€3,542 | +92.4% |
| Cash at bank and in hand | 54/58 | €143,912 | €170,038 | +€26,126 | +18.2% |
| Deferred charges and accrued income | 490/1 | €3,316 | €1,203 | -€2,114 | -63.7% |
| Total equity and liabilities | 10/49 | €184,761 | €199,346 | +€14,585 | +7.9% |
| Equity | 10/15 | €146,586 | €146,548 | -€38 | 0.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €146,486 | €146,448 | -€38 | 0.0% |
| Distributable reserves | 133 | €146,486 | €146,448 | -€38 | 0.0% |
| Amounts payable | 17/49 | €38,175 | €52,798 | +€14,623 | +38.3% |
| Amounts payable within one year | 42/48 | €38,175 | €52,798 | +€14,623 | +38.3% |
| Trade debts | 44 | €10,062 | €668 | -€9,394 | -93.4% |
| Suppliers | 440/4 | €10,062 | €668 | -€9,394 | -93.4% |
| Taxes, remuneration and social security | 45 | €18,113 | €15,638 | -€2,475 | -13.7% |
| Taxes | 450/3 | €18,113 | €12,928 | -€5,185 | -28.6% |
| Remuneration and social security | 454/9 | - | €2,710 | +€2,710 | |
| Other amounts payable | 47/48 | €10,000 | €36,492 | +€26,492 | +265% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,788 | €3,018 | +€229 | +8.2% |
| Other operating charges | 640/8 | €2,683 | €3,214 | +€530 | +19.8% |
| Gross operating margin | 9900 | €51,114 | €57,065 | +€5,951 | +11.6% |
| Operating profit (loss) | 9901 | €45,643 | €50,834 | +€5,191 | +11.4% |
| Financial income | 75/76B | €19 | €275 | +€256 | +1,320% |
| Recurring financial income | 75 | €19 | €275 | +€256 | +1,320% |
| Financial charges | 65/66B | €270 | €1,450 | +€1,180 | +437% |
| Recurring financial charges | 65 | €270 | €1,450 | +€1,180 | +437% |
| Profit (loss) for the period before taxes | 9903 | €45,392 | €49,659 | +€4,267 | +9.4% |
| Income taxes | 67/77 | €14,247 | €13,205 | -€1,042 | -7.3% |
| Profit (loss) for the period | 9904 | €31,145 | €36,454 | +€5,309 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,145 | €36,454 | +€5,309 | +17.0% |
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 15 October 2026 via checked.be.