F.W. 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.
F.W. ADVISORY
Largest movements
- Cash +€42,057
up €42,057 (+151%), from €27,886 to €69,943
mainly Net result for the year (+€38,521) and Depreciation (+€8,113)
- Tangible fixed assets -€7,384
down €7,384 (-20.1%), from €36,795 to €29,410
of which Furniture and vehicles: -€6,934
- Profit (loss) carried forward +€38,521
up €38,521 (+61.3%), from €62,891 to €101,412
- Debts after one year -€5,028
down €5,028 (-53.7%), from €9,358 to €4,330
- Current portion of long-term debt +€3,548
up €3,548 (+73.2%), from €4,850 to €8,398
- Tax, wage and social debts -€2,697
down €2,697 (-22.5%), from €11,959 to €9,263
- Gross operating margin +€7,031
up €7,031 (+13.7%), from €51,219 to €58,250
- Depreciation +€4,994
up €4,994 (+160%), from €3,119 to €8,113
- Other operating charges -€663
down €663 (-62.3%), from €1,064 to €401
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 | €93,059 | €128,534 | +€35,475 | +38.1% |
| Formation expenses | 20 | €564 | €386 | -€178 | -31.6% |
| Fixed assets | 21/28 | €36,795 | €29,410 | -€7,384 | -20.1% |
| Tangible fixed assets | 22/27 | €36,795 | €29,410 | -€7,384 | -20.1% |
| Plant, machinery and equipment | 23 | €3,937 | €3,487 | -€450 | -11.4% |
| Furniture and vehicles | 24 | €32,858 | €25,924 | -€6,934 | -21.1% |
| Current assets | 29/58 | €55,700 | €98,738 | +€43,038 | +77.3% |
| Amounts receivable within one year | 40/41 | €27,814 | €28,794 | +€981 | +3.5% |
| Trade receivables | 40 | €27,627 | €26,786 | -€841 | -3.0% |
| Other amounts receivable | 41 | €187 | €2,008 | +€1,822 | +977% |
| Cash at bank and in hand | 54/58 | €27,886 | €69,943 | +€42,057 | +151% |
| Total equity and liabilities | 10/49 | €93,059 | €128,534 | +€35,475 | +38.1% |
| Equity | 10/15 | €64,891 | €103,412 | +€38,521 | +59.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,891 | €101,412 | +€38,521 | +61.3% |
| Amounts payable | 17/49 | €28,168 | €25,122 | -€3,046 | -10.8% |
| Amounts payable after more than one year | 17 | €9,358 | €4,330 | -€5,028 | -53.7% |
| Financial debts | 170/4 | €9,358 | €4,330 | -€5,028 | -53.7% |
| Amounts payable within one year | 42/48 | €18,810 | €20,792 | +€1,982 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €4,850 | €8,398 | +€3,548 | +73.2% |
| Trade debts | 44 | €2,000 | €3,131 | +€1,131 | +56.5% |
| Suppliers | 440/4 | €2,000 | €3,131 | +€1,131 | +56.5% |
| Taxes, remuneration and social security | 45 | €11,959 | €9,263 | -€2,697 | -22.5% |
| Taxes | 450/3 | €11,959 | €9,263 | -€2,697 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,119 | €8,113 | +€4,994 | +160% |
| Other operating charges | 640/8 | €1,064 | €401 | -€663 | -62.3% |
| Gross operating margin | 9900 | €51,219 | €58,250 | +€7,031 | +13.7% |
| Operating profit (loss) | 9901 | €47,036 | €49,736 | +€2,700 | +5.7% |
| Financial charges | 65/66B | €249 | €686 | +€436 | +175% |
| Recurring financial charges | 65 | €249 | €686 | +€436 | +175% |
| Profit (loss) for the period before taxes | 9903 | €46,787 | €49,050 | +€2,263 | +4.8% |
| Income taxes | 67/77 | €10,435 | €10,529 | +€94 | +0.9% |
| Profit (loss) for the period | 9904 | €36,351 | €38,521 | +€2,170 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,351 | €38,521 | +€2,170 | +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 16 October 2026 via checked.be.