H-ADVICE: 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.
H-ADVICE
Largest movements
- Receivables after one year +€540,000
new in 2025: €540,000
- Financial fixed assets -€214,643
down €214,643 (-99.7%), from €215,268 to €625
- Tangible fixed assets -€74,020
down €74,020 (-5.4%), from €1.4m to €1.3m
of which Land and buildings: -€39,913
- Receivables within one year +€66,848
up €66,848 (+42.3%), from €158,091 to €224,939
of which Other amounts receivable: +€49,973
- Cash -€56,929
down €56,929 (-31.1%), from €182,781 to €125,852
mainly Receivables after one year (-€540,000) and Other debts (-€102,875)
- Profit (loss) carried forward +€385,583
up €385,583 (+115%), from €335,370 to €720,952
- Other debts -€102,875
down €102,875 (-37.9%), from €271,769 to €168,894
- Reserves +€100,000
up €100,000 (+15.2%), from €658,347 to €758,347
of which Distributable reserves: +€100,000
- Debts after one year -€51,254
down €51,254 (-10.7%), from €477,700 to €426,446
- Tax, wage and social debts -€28,567
down €28,567 (-44.7%), from €63,855 to €35,288
- Financial income +€37,856
up €37,856 (+10.8%), from €350,001 to €387,857
- Gross operating margin +€22,025
up €22,025 (+10.2%), from €216,252 to €238,277
- Depreciation +€7,100
up €7,100 (+10.6%), from €66,920 to €74,020
- Taxes +€5,098
up €5,098 (+14.4%), from €35,382 to €40,480
- Financial charges -€3,755
down €3,755 (-14.3%), from €26,223 to €22,468
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 | €1,920,821 | €2,182,190 | +€261,369 | +13.6% |
| Fixed assets | 21/28 | €1,576,019 | €1,287,356 | -€288,663 | -18.3% |
| Tangible fixed assets | 22/27 | €1,360,751 | €1,286,731 | -€74,020 | -5.4% |
| Land and buildings | 22 | €1,256,589 | €1,216,675 | -€39,913 | -3.2% |
| Furniture and vehicles | 24 | €104,163 | €70,056 | -€34,107 | -32.7% |
| Financial fixed assets | 28 | €215,268 | €625 | -€214,643 | -99.7% |
| Current assets | 29/58 | €344,802 | €894,833 | +€550,032 | +160% |
| Amounts receivable after more than one year | 29 | - | €540,000 | +€540,000 | |
| Other amounts receivable | 291 | - | €540,000 | +€540,000 | |
| Amounts receivable within one year | 40/41 | €158,091 | €224,939 | +€66,848 | +42.3% |
| Trade receivables | 40 | €13,064 | €29,939 | +€16,875 | +129% |
| Other amounts receivable | 41 | €145,027 | €195,000 | +€49,973 | +34.5% |
| Cash at bank and in hand | 54/58 | €182,781 | €125,852 | -€56,929 | -31.1% |
| Deferred charges and accrued income | 490/1 | €3,930 | €4,043 | +€113 | +2.9% |
| Total equity and liabilities | 10/49 | €1,920,821 | €2,182,190 | +€261,369 | +13.6% |
| Equity | 10/15 | €1,013,717 | €1,499,300 | +€485,583 | +47.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €658,347 | €758,347 | +€100,000 | +15.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €656,347 | €756,347 | +€100,000 | +15.2% |
| Profit (loss) carried forward | 14 | €335,370 | €720,952 | +€385,583 | +115% |
| Amounts payable | 17/49 | €907,104 | €682,890 | -€224,214 | -24.7% |
| Amounts payable after more than one year | 17 | €477,700 | €426,446 | -€51,254 | -10.7% |
| Financial debts | 170/4 | €477,700 | €426,446 | -€51,254 | -10.7% |
| Amounts payable within one year | 42/48 | €428,797 | €256,092 | -€172,705 | -40.3% |
| Current portion of amounts payable after more than one year | 42 | €74,510 | €51,790 | -€22,720 | -30.5% |
| Trade debts | 44 | €18,663 | €120 | -€18,543 | -99.4% |
| Suppliers | 440/4 | €18,663 | €120 | -€18,543 | -99.4% |
| Taxes, remuneration and social security | 45 | €63,855 | €35,288 | -€28,567 | -44.7% |
| Taxes | 450/3 | €63,855 | €35,288 | -€28,567 | -44.7% |
| Other amounts payable | 47/48 | €271,769 | €168,894 | -€102,875 | -37.9% |
| Accrued charges and deferred income | 492/3 | €607 | €351 | -€255 | -42.1% |
| Remuneration, social security and pensions | 62 | €627 | €947 | +€320 | +51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,920 | €74,020 | +€7,100 | +10.6% |
| Other operating charges | 640/8 | €2,497 | €2,637 | +€140 | +5.6% |
| Gross operating margin | 9900 | €216,252 | €238,277 | +€22,025 | +10.2% |
| Operating profit (loss) | 9901 | €146,208 | €160,673 | +€14,465 | +9.9% |
| Financial income | 75/76B | €350,001 | €387,857 | +€37,856 | +10.8% |
| Recurring financial income | 75 | €350,001 | €387,857 | +€37,856 | +10.8% |
| Financial charges | 65/66B | €26,223 | €22,468 | -€3,755 | -14.3% |
| Recurring financial charges | 65 | €26,223 | €22,468 | -€3,755 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €469,986 | €526,063 | +€56,077 | +11.9% |
| Income taxes | 67/77 | €35,382 | €40,480 | +€5,098 | +14.4% |
| Profit (loss) for the period | 9904 | €434,604 | €485,583 | +€50,979 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €434,604 | €485,583 | +€50,979 | +11.7% |
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.