EQUITES MANAGEMENT & ADVISORY SERVICES: what changed
What changed
EQUITES MANAGEMENT & ADVISORY SERVICES
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€16,916
2024 · -€16,938+€22
Equity
€6.8m
2024 · €6.8m-€16,916
Cash
€0
2024 · €6,378-€6,378
Balance sheet total
€6.9m
2024 · €6.9m-€1,700
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Depreciation -€1,891
down €1,891 (-15.3%), from €12,351 to €10,460
- Gross operating margin -€1,662
down €1,662, from €301 to -€1,361
- Financial charges -€1,229
down €1,229 (-42.1%), from €2,917 to €1,688
- Other operating charges -€977
down €977 (-40.5%), from €2,411 to €1,434
- Financial income +€237
up €237 (+22.9%), from €1,036 to €1,273
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€16,938
Gross operating margin
-€1,662
Depreciation
+€1,891
Other operating charges
+€977
Other operating items
-€2,674
Financial income
+€237
Financial charges
+€1,229
Taxes
+€24
Result 2025
-€16,916
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€14,175
Investment
+€7,674
Financing
+€123
Cash 2024
€6,378
From operations (derived)
-€14,175
Net result for the year
-€16,916
Depreciation
+€10,460
Receivables within one year
-€22,953
Deferred charges and accrued income
+€140
Trade debts
+€9,918
Tax, wage and social debts
-€571
Other debts
+€5,746
Investment (derived)
+€7,674
Investment in fixed assets (net)
+€7,674
Financing
+€123
Debts after one year
-€4,889
Current portion of long-term debt
+€274
Short-term financial debts
+€4,738
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,904,829 | €6,903,129 | -€1,700 | 0.0% |
| Fixed assets | 21/28 | €6,829,290 | €6,811,155 | -€18,135 | -0.3% |
| Tangible fixed assets | 22/27 | €44,825 | €26,690 | -€18,135 | -40.5% |
| Land and buildings | 22 | €34,303 | €21,461 | -€12,842 | -37.4% |
| Plant, machinery and equipment | 23 | €2,704 | €1,859 | -€844 | -31.2% |
| Furniture and vehicles | 24 | €7,818 | €3,370 | -€4,448 | -56.9% |
| Financial fixed assets | 28 | €6,784,465 | €6,784,465 | = | 0.0% |
| Current assets | 29/58 | €75,539 | €91,974 | +€16,435 | +21.8% |
| Amounts receivable within one year | 40/41 | €64,093 | €87,046 | +€22,953 | +35.8% |
| Trade receivables | 40 | €5,324 | €20,343 | +€15,019 | +282% |
| Other amounts receivable | 41 | €58,769 | €66,703 | +€7,934 | +13.5% |
| Cash at bank and in hand | 54/58 | €6,378 | €0 | -€6,378 | -100% |
| Deferred charges and accrued income | 490/1 | €5,068 | €4,928 | -€140 | -2.8% |
| Total equity and liabilities | 10/49 | €6,904,829 | €6,903,129 | -€1,700 | 0.0% |
| Equity | 10/15 | €6,827,325 | €6,810,409 | -€16,916 | -0.2% |
| Contributions | 10/11 | €2,297,974 | €2,297,974 | = | 0.0% |
| Reserves | 13 | €29,000 | €29,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,000 | €29,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,500,351 | €4,483,434 | -€16,916 | -0.4% |
| Amounts payable | 17/49 | €77,504 | €92,720 | +€15,216 | +19.6% |
| Amounts payable after more than one year | 17 | €17,456 | €12,567 | -€4,889 | -28.0% |
| Financial debts | 170/4 | €17,456 | €12,567 | -€4,889 | -28.0% |
| Amounts payable within one year | 42/48 | €60,048 | €80,154 | +€20,105 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | €4,615 | €4,889 | +€274 | +5.9% |
| Financial debts | 43 | - | €4,738 | +€4,738 | |
| Credit institutions | 430/8 | - | €4,738 | +€4,738 | |
| Trade debts | 44 | €16,861 | €26,779 | +€9,918 | +58.8% |
| Suppliers | 440/4 | €16,861 | €26,779 | +€9,918 | +58.8% |
| Taxes, remuneration and social security | 45 | €1,831 | €1,260 | -€571 | -31.2% |
| Taxes | 450/3 | €831 | €1,260 | +€429 | +51.7% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100% |
| Other amounts payable | 47/48 | €36,742 | €42,488 | +€5,746 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,351 | €10,460 | -€1,891 | -15.3% |
| Other operating charges | 640/8 | €2,411 | €1,434 | -€977 | -40.5% |
| Non-recurring operating charges | 66A | - | €2,674 | +€2,674 | |
| Gross operating margin | 9900 | €301 | -€1,361 | -€1,662 | |
| Operating profit (loss) | 9901 | -€14,462 | -€15,930 | -€1,468 | -10.2% |
| Financial income | 75/76B | €1,036 | €1,273 | +€237 | +22.9% |
| Recurring financial income | 75 | €1,036 | €1,273 | +€237 | +22.9% |
| Financial charges | 65/66B | €2,917 | €1,688 | -€1,229 | -42.1% |
| Recurring financial charges | 65 | €2,917 | €1,688 | -€1,229 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | -€16,342 | -€16,345 | -€2 | 0.0% |
| Income taxes | 67/77 | €596 | €572 | -€24 | -4.1% |
| Profit (loss) for the period | 9904 | -€16,938 | -€16,916 | +€22 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,938 | -€16,916 | +€22 | +0.1% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.