F.D. ADVICE: 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.
What changed
F.D. ADVICE
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€23,613
2024 · €263,079-€239,466
Equity
€3.9m
2024 · €3.9m+€23,613
Cash
€35,227
2024 · €21,924+€13,304
Balance sheet total
€4.6m
2024 · €4.7m-€128,314
Largest movements
Assets
- Tangible fixed assets -€165,247
down €165,247 (-5.0%), from €3.3m to €3.1m
Equity and liabilities
- Other debts -€63,769
down €63,769 (-9.2%), from €689,629 to €625,860
- Debts after one year -€63,520
down €63,520 (-74.8%), from €84,895 to €21,375
Income statement
- Gross operating margin -€264,719
down €264,719 (-56.0%), from €472,943 to €208,224
- Taxes -€24,868
down €24,868, from €24,868 to -€0
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.
Result 2024
€263,079
Gross operating margin
-€264,719
Other operating charges
-€505
Financial income
+€1
Financial charges
+€888
Taxes
+€24,868
Result 2025
€23,613
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.
From operations
+€75,922
Investment
€0
Financing
-€62,619
Cash 2024
€21,924
From operations (derived)
+€75,922
Net result for the year
+€23,613
Depreciation
+€165,247
Receivables within one year
-€23,629
Trade debts
-€672
Tax, wage and social debts
-€24,868
Other debts
-€63,769
Financing
-€62,619
Debts after one year
-€63,520
Current portion of long-term debt
+€901
Cash 2025
€35,227
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,716,857 | €4,588,542 | -€128,314 | -2.7% |
| Fixed assets | 21/28 | €4,694,409 | €4,529,161 | -€165,247 | -3.5% |
| Tangible fixed assets | 22/27 | €3,294,409 | €3,129,161 | -€165,247 | -5.0% |
| Land and buildings | 22 | €3,294,409 | €3,129,161 | -€165,247 | -5.0% |
| Financial fixed assets | 28 | €1,400,000 | €1,400,000 | = | 0.0% |
| Current assets | 29/58 | €22,448 | €59,381 | +€36,933 | +164.5% |
| Amounts receivable within one year | 40/41 | €524 | €24,154 | +€23,629 | +4506.2% |
| Other amounts receivable | 41 | €524 | €24,154 | +€23,629 | +4506.2% |
| Cash at bank and in hand | 54/58 | €21,924 | €35,227 | +€13,304 | +60.7% |
| Total equity and liabilities | 10/49 | €4,716,857 | €4,588,542 | -€128,314 | -2.7% |
| Equity | 10/15 | €3,852,807 | €3,876,420 | +€23,613 | +0.6% |
| Contributions | 10/11 | €2,924,368 | €2,924,368 | = | 0.0% |
| Capital | 10 | €2,924,368 | €2,924,368 | = | 0.0% |
| Issued capital | 100 | €2,924,368 | €2,924,368 | = | 0.0% |
| Reserves | 13 | €599,447 | €623,060 | +€23,613 | +3.9% |
| Non-distributable reserves | 130/1 | €164,387 | €165,568 | +€1,181 | +0.7% |
| Legal reserve | 130 | €164,387 | €165,568 | +€1,181 | +0.7% |
| Tax-exempt reserves | 132 | €164,526 | €164,526 | = | 0.0% |
| Distributable reserves | 133 | €270,535 | €292,967 | +€22,432 | +8.3% |
| Profit (loss) carried forward | 14 | €328,992 | €328,992 | = | 0.0% |
| Amounts payable | 17/49 | €864,049 | €712,122 | -€151,927 | -17.6% |
| Amounts payable after more than one year | 17 | €84,895 | €21,375 | -€63,520 | -74.8% |
| Financial debts | 170/4 | €84,895 | €21,375 | -€63,520 | -74.8% |
| Amounts payable within one year | 42/48 | €779,155 | €690,747 | -€88,407 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €62,619 | €63,520 | +€901 | +1.4% |
| Trade debts | 44 | €2,039 | €1,367 | -€672 | -32.9% |
| Suppliers | 440/4 | €2,039 | €1,367 | -€672 | -32.9% |
| Taxes, remuneration and social security | 45 | €24,868 | €0 | -€24,868 | -100.0% |
| Taxes | 450/3 | €24,868 | €0 | -€24,868 | -100.0% |
| Other amounts payable | 47/48 | €689,629 | €625,860 | -€63,769 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,247 | €165,247 | = | 0.0% |
| Other operating charges | 640/8 | €17,022 | €17,527 | +€505 | +3.0% |
| Gross operating margin | 9900 | €472,943 | €208,224 | -€264,719 | -56.0% |
| Operating profit (loss) | 9901 | €290,674 | €25,450 | -€265,223 | -91.2% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,726 | €1,838 | -€888 | -32.6% |
| Recurring financial charges | 65 | €2,726 | €1,838 | -€888 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | €287,947 | €23,613 | -€264,334 | -91.8% |
| Income taxes | 67/77 | €24,868 | -€0 | -€24,868 | |
| Profit (loss) for the period | 9904 | €263,079 | €23,613 | -€239,466 | -91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €263,079 | €23,613 | -€239,466 | -91.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.