FINANCE & RISK ADVISORY: what changed
FINANCE & RISK ADVISORY
Largest movements
- Receivables within one year -€17,048
down €17,048 (-62.2%), from €27,409 to €10,361
of which Other amounts receivable: -€16,825
- Cash +€11,801
up €11,801 (+10.5%), from €112,639 to €124,440
mainly Other debts (+€67,338) and Net result for the year (+€25,478)
- Tangible fixed assets -€5,276
down €5,276 (-76.5%), from €6,892 to €1,616
- Other debts +€67,338
up €67,338 (+9,799%), from €687 to €68,026
- Profit (loss) carried forward -€62,232
down €62,232, from €57,710 to -€4,522
- Tax, wage and social debts -€12,597
down €12,597 (-43.3%), from €29,087 to €16,490
of which Taxes: -€12,597
- Trade debts -€2,449
down €2,449 (-81.1%), from €3,021 to €572
- Gross operating margin +€5,652
up €5,652 (+14.9%), from €37,993 to €43,645
- Financial income -€3,817
down €3,817 (-100%), from €3,817 to €0
- Other operating charges +€1,378
up €1,378 (+127%), from €1,087 to €2,465
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €147,235 | €136,418 | -€10,817 | -7.3% |
| Fixed assets | 21/28 | €6,892 | €1,616 | -€5,276 | -76.5% |
| Tangible fixed assets | 22/27 | €6,892 | €1,616 | -€5,276 | -76.5% |
| Furniture and vehicles | 24 | €6,892 | €1,616 | -€5,276 | -76.5% |
| Current assets | 29/58 | €140,343 | €134,801 | -€5,541 | -3.9% |
| Amounts receivable within one year | 40/41 | €27,409 | €10,361 | -€17,048 | -62.2% |
| Trade receivables | 40 | €10,401 | €10,179 | -€223 | -2.1% |
| Other amounts receivable | 41 | €17,007 | €182 | -€16,825 | -98.9% |
| Cash at bank and in hand | 54/58 | €112,639 | €124,440 | +€11,801 | +10.5% |
| Deferred charges and accrued income | 490/1 | €295 | €0 | -€295 | -100% |
| Total equity and liabilities | 10/49 | €147,235 | €136,418 | -€10,817 | -7.3% |
| Equity | 10/15 | €112,971 | €50,738 | -€62,232 | -55.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €52,260 | €52,260 | = | 0.0% |
| Distributable reserves | 133 | €52,260 | €52,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,710 | -€4,522 | -€62,232 | |
| Amounts payable | 17/49 | €34,264 | €85,679 | +€51,415 | +150% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €34,264 | €85,087 | +€50,823 | +148% |
| Current portion of amounts payable after more than one year | 42 | €1,470 | €0 | -€1,470 | -100% |
| Trade debts | 44 | €3,021 | €572 | -€2,449 | -81.1% |
| Suppliers | 440/4 | €3,021 | €572 | -€2,449 | -81.1% |
| Taxes, remuneration and social security | 45 | €29,087 | €16,490 | -€12,597 | -43.3% |
| Taxes | 450/3 | €29,087 | €16,490 | -€12,597 | -43.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €687 | €68,026 | +€67,338 | +9,799% |
| Accrued charges and deferred income | 492/3 | - | €592 | +€592 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,484 | €6,639 | +€155 | +2.4% |
| Other operating charges | 640/8 | €1,087 | €2,465 | +€1,378 | +127% |
| Gross operating margin | 9900 | €37,993 | €43,645 | +€5,652 | +14.9% |
| Operating profit (loss) | 9901 | €30,422 | €34,542 | +€4,120 | +13.5% |
| Financial income | 75/76B | €3,817 | €0 | -€3,817 | -100% |
| Recurring financial income | 75 | €3,817 | €0 | -€3,817 | -100% |
| Financial charges | 65/66B | €483 | €246 | -€237 | -49.1% |
| Recurring financial charges | 65 | €483 | €246 | -€237 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €33,757 | €34,296 | +€539 | +1.6% |
| Income taxes | 67/77 | €8,729 | €8,818 | +€89 | +1.0% |
| Profit (loss) for the period | 9904 | €25,028 | €25,478 | +€451 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,028 | €25,478 | +€451 | +1.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.