Equinox 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.
Equinox Advisory
Largest movements
- Tangible fixed assets +€2.0m
up €2.0m (+423%), from €465,391 to €2.4m
of which Land and buildings: +€2.0m
- Current investments -€1.1m
down €1.1m (-41.0%), from €2.8m to €1.7m
- Receivables within one year -€252,041
down €252,041 (-65.6%), from €384,417 to €132,376
of which Trade receivables: -€259,280
- Cash +€208,434
up €208,434 (+144%), from €144,371 to €352,805
mainly Current investments (+€1.1m) and Net result for the year (+€896,466)
- Profit (loss) carried forward +€596,466
up €596,466 (+21.3%), from €2.8m to €3.4m
- Debts after one year +€423,395
up €423,395 (+169%), from €250,273 to €673,668
- Trade debts -€272,419
down €272,419 (-92.2%), from €295,396 to €22,977
- Other debts -€100,000
no longer reported in 2025 (was €100,000)
- Tax, wage and social debts +€83,767
up €83,767 (+294%), from €28,513 to €112,280
- Gross operating margin +€160,128
up €160,128 (+14.7%), from €1.1m to €1.3m
- Taxes +€64,808
up €64,808 (+24.1%), from €268,724 to €333,533
- Financial income -€39,640
down €39,640 (-61.6%), from €64,393 to €24,754
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 | €3,802,978 | €4,590,701 | +€787,723 | +20.7% |
| Fixed assets | 21/28 | €465,391 | €2,435,984 | +€2.0m | +423% |
| Tangible fixed assets | 22/27 | €465,391 | €2,435,984 | +€2.0m | +423% |
| Land and buildings | 22 | €445,881 | €2,423,948 | +€2.0m | +444% |
| Furniture and vehicles | 24 | €16,972 | €10,159 | -€6,813 | -40.1% |
| Other tangible fixed assets | 26 | €2,539 | €1,878 | -€661 | -26.0% |
| Current assets | 29/58 | €3,337,587 | €2,154,717 | -€1.2m | -35.4% |
| Amounts receivable within one year | 40/41 | €384,417 | €132,376 | -€252,041 | -65.6% |
| Trade receivables | 40 | €300,000 | €40,720 | -€259,280 | -86.4% |
| Other amounts receivable | 41 | €84,417 | €91,656 | +€7,239 | +8.6% |
| Current investments | 50/53 | €2,800,000 | €1,652,146 | -€1.1m | -41.0% |
| Cash at bank and in hand | 54/58 | €144,371 | €352,805 | +€208,434 | +144% |
| Deferred charges and accrued income | 490/1 | €8,798 | €17,390 | +€8,592 | +97.7% |
| Total equity and liabilities | 10/49 | €3,802,978 | €4,590,701 | +€787,723 | +20.7% |
| Equity | 10/15 | €3,101,756 | €3,698,222 | +€596,466 | +19.2% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Contributions outside capital | 11 | €300,000 | - | -€300,000 | |
| Other | 1109/19 | €300,000 | - | -€300,000 | |
| Profit (loss) carried forward | 14 | €2,801,756 | €3,398,222 | +€596,466 | +21.3% |
| Amounts payable | 17/49 | €701,222 | €892,478 | +€191,257 | +27.3% |
| Amounts payable after more than one year | 17 | €250,273 | €673,668 | +€423,395 | +169% |
| Financial debts | 170/4 | €250,273 | €673,668 | +€423,395 | +169% |
| Amounts payable within one year | 42/48 | €449,348 | €217,156 | -€232,192 | -51.7% |
| Current portion of amounts payable after more than one year | 42 | €25,439 | €76,605 | +€51,166 | +201% |
| Financial debts | 43 | - | €5,293 | +€5,293 | |
| Credit institutions | 430/8 | - | €5,293 | +€5,293 | |
| Trade debts | 44 | €295,396 | €22,977 | -€272,419 | -92.2% |
| Suppliers | 440/4 | €295,396 | €22,977 | -€272,419 | -92.2% |
| Taxes, remuneration and social security | 45 | €28,513 | €112,280 | +€83,767 | +294% |
| Taxes | 450/3 | €28,513 | €112,280 | +€83,767 | +294% |
| Other amounts payable | 47/48 | €100,000 | - | -€100,000 | |
| Accrued charges and deferred income | 492/3 | €1,600 | €1,654 | +€54 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,830 | €22,476 | -€354 | -1.6% |
| Other operating charges | 640/8 | €3,538 | €3,308 | -€230 | -6.5% |
| Gross operating margin | 9900 | €1,092,445 | €1,252,573 | +€160,128 | +14.7% |
| Operating profit (loss) | 9901 | €1,066,077 | €1,226,789 | +€160,712 | +15.1% |
| Financial income | 75/76B | €64,393 | €24,754 | -€39,640 | -61.6% |
| Recurring financial income | 75 | €64,393 | €24,754 | -€39,640 | -61.6% |
| Financial charges | 65/66B | €15,627 | €21,544 | +€5,917 | +37.9% |
| Recurring financial charges | 65 | €15,627 | €21,544 | +€5,917 | +37.9% |
| Profit (loss) for the period before taxes | 9903 | €1,114,843 | €1,229,999 | +€115,156 | +10.3% |
| Income taxes | 67/77 | €268,724 | €333,533 | +€64,808 | +24.1% |
| Profit (loss) for the period | 9904 | €846,119 | €896,466 | +€50,347 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €846,119 | €896,466 | +€50,347 | +6.0% |
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 20 October 2026 via checked.be.