ExecAdvice: what changed
Two fiscal 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.
ExecAdvice
Largest movements
- Receivables after one year +€234,800
new in 2025: €234,800
- Receivables within one year -€156,536
down €156,536 (-64.9%), from €241,096 to €84,560
of which Other amounts receivable: -€170,893
- Cash +€46,060
up €46,060 (+51.7%), from €89,094 to €135,154
mainly Receivables within one year (+€156,536) and Net result for the year (+€110,826)
- Tangible fixed assets -€8,506
down €8,506 (-33.3%), from €25,565 to €17,059
of which Furniture and vehicles: -€10,644
- Deferred charges and accrued income +€7,316
up €7,316 (+3779.7%), from €194 to €7,510
- Other debts +€66,273
up €66,273 (+21587.4%), from €307 to €66,580
- Reserves +€40,825
up €40,825 (+14.4%), from €283,100 to €323,925
- Trade debts +€15,740
up €15,740 (+3020.5%), from €521 to €16,261
- Tax, wage and social debts +€12,303
up €12,303 (+44.9%), from €27,405 to €39,707
- Debts after one year -€6,214
down €6,214 (-74.7%), from €8,315 to €2,101
- Gross operating margin +€22,426
up €22,426 (+15.3%), from €146,984 to €169,410
- Taxes +€8,046
up €8,046 (+17.1%), from €47,154 to €55,200
- Financial income +€3,064
up €3,064 (+49.9%), from €6,145 to €9,208
- Write-downs -€3,000
new in 2025: -€3,000
- Financial charges +€1,818
up €1,818 (+120.3%), from €1,512 to €3,330
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.
Cash bridge derived
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 | €375,974 | €505,034 | +€129,059 | +34.3% |
| Fixed assets | 21/28 | €45,590 | €43,009 | -€2,581 | -5.7% |
| Tangible fixed assets | 22/27 | €25,565 | €17,059 | -€8,506 | -33.3% |
| Furniture and vehicles | 24 | €24,603 | €13,959 | -€10,644 | -43.3% |
| Other tangible fixed assets | 26 | €962 | €3,100 | +€2,138 | +222.2% |
| Financial fixed assets | 28 | €20,025 | €25,950 | +€5,925 | +29.6% |
| Current assets | 29/58 | €330,384 | €462,024 | +€131,640 | +39.8% |
| Amounts receivable after more than one year | 29 | - | €234,800 | +€234,800 | |
| Trade receivables | 290 | - | €234,800 | +€234,800 | |
| Amounts receivable within one year | 40/41 | €241,096 | €84,560 | -€156,536 | -64.9% |
| Trade receivables | 40 | €37,598 | €51,955 | +€14,358 | +38.2% |
| Other amounts receivable | 41 | €203,498 | €32,605 | -€170,893 | -84.0% |
| Cash at bank and in hand | 54/58 | €89,094 | €135,154 | +€46,060 | +51.7% |
| Deferred charges and accrued income | 490/1 | €194 | €7,510 | +€7,316 | +3779.7% |
| Total equity and liabilities | 10/49 | €375,974 | €505,034 | +€129,059 | +34.3% |
| Equity | 10/15 | €333,344 | €374,170 | +€40,826 | +12.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €283,100 | €323,925 | +€40,825 | +14.4% |
| Distributable reserves | 133 | €283,100 | €323,925 | +€40,825 | +14.4% |
| Profit (loss) carried forward | 14 | €35,984 | €35,985 | +€1 | 0.0% |
| Amounts payable | 17/49 | €42,631 | €130,864 | +€88,233 | +207.0% |
| Amounts payable after more than one year | 17 | €8,315 | €2,101 | -€6,214 | -74.7% |
| Financial debts | 170/4 | €8,315 | €2,101 | -€6,214 | -74.7% |
| Amounts payable within one year | 42/48 | €34,316 | €128,763 | +€94,447 | +275.2% |
| Current portion of amounts payable after more than one year | 42 | €6,083 | €6,214 | +€131 | +2.1% |
| Trade debts | 44 | €521 | €16,261 | +€15,740 | +3020.5% |
| Suppliers | 440/4 | €521 | €16,261 | +€15,740 | +3020.5% |
| Taxes, remuneration and social security | 45 | €27,405 | €39,707 | +€12,303 | +44.9% |
| Taxes | 450/3 | €27,405 | €39,707 | +€12,303 | +44.9% |
| Other amounts payable | 47/48 | €307 | €66,580 | +€66,273 | +21587.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,695 | €10,696 | -€999 | -8.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,000 | -€3,000 | |
| Other operating charges | 640/8 | €768 | €795 | +€27 | +3.5% |
| Non-recurring operating charges | 66A | €342 | €771 | +€429 | +125.2% |
| Gross operating margin | 9900 | €146,984 | €169,410 | +€22,426 | +15.3% |
| Operating profit (loss) | 9901 | €134,178 | €160,148 | +€25,969 | +19.4% |
| Financial income | 75/76B | €6,145 | €9,208 | +€3,064 | +49.9% |
| Recurring financial income | 75 | €6,145 | €9,208 | +€3,064 | +49.9% |
| Financial charges | 65/66B | €1,512 | €3,330 | +€1,818 | +120.3% |
| Recurring financial charges | 65 | €1,512 | €3,330 | +€1,818 | +120.3% |
| Profit (loss) for the period before taxes | 9903 | €138,811 | €166,026 | +€27,215 | +19.6% |
| Income taxes | 67/77 | €47,154 | €55,200 | +€8,046 | +17.1% |
| Profit (loss) for the period | 9904 | €91,657 | €110,826 | +€19,169 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €91,657 | €110,826 | +€19,169 | +20.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.