J. ADVISORY: 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.
J. ADVISORY
Largest movements
- Tangible fixed assets +€118,613
up €118,613 (+6271.6%), from €1,891 to €120,504
of which Assets under construction and advance payments: +€69,787
- Current investments +€20,203
new in 2025: €20,203
- Receivables within one year +€16,448
up €16,448 (+92.5%), from €17,789 to €34,238
of which Trade receivables: +€10,251
- Cash +€11,653
up €11,653 (+538.3%), from €2,165 to €13,818
mainly Debts after one year (+€95,536) and Net result for the year (+€35,401)
- Debts after one year +€95,536
up €95,536 (+1033.4%), from €9,245 to €104,780
of which Financial debts: +€74,780
- Profit (loss) carried forward +€34,601
up €34,601 (+822.9%), from €4,205 to €38,806
- Trade debts +€16,024
up €16,024 (+1017.2%), from €1,575 to €17,599
- Current portion of long-term debt +€16,000
new in 2025: €16,000
- Gross operating margin +€41,820
up €41,820 (+578.1%), from €7,234 to €49,055
- Financial charges +€4,876
up €4,876 (+1045.9%), from €466 to €5,343
- Taxes +€4,786
up €4,786 (+319.1%), from €1,500 to €6,286
- Depreciation +€1,416
up €1,416 (+665.7%), from €213 to €1,629
- Other operating charges +€598
up €598 (+1184.3%), from €50 to €648
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 | €25,209 | €190,243 | +€165,035 | +654.7% |
| Formation expenses | 20 | €1,153 | €907 | -€246 | -21.3% |
| Fixed assets | 21/28 | €1,891 | €120,504 | +€118,613 | +6271.6% |
| Tangible fixed assets | 22/27 | €1,891 | €120,504 | +€118,613 | +6271.6% |
| Land and buildings | 22 | - | €48,365 | +€48,365 | |
| Furniture and vehicles | 24 | €1,891 | €2,352 | +€461 | +24.3% |
| Assets under construction and advance payments | 27 | - | €69,787 | +€69,787 | |
| Current assets | 29/58 | €22,165 | €68,832 | +€46,667 | +210.5% |
| Amounts receivable within one year | 40/41 | €17,789 | €34,238 | +€16,448 | +92.5% |
| Trade receivables | 40 | €17,789 | €28,041 | +€10,251 | +57.6% |
| Other amounts receivable | 41 | - | €6,197 | +€6,197 | |
| Current investments | 50/53 | - | €20,203 | +€20,203 | |
| Cash at bank and in hand | 54/58 | €2,165 | €13,818 | +€11,653 | +538.3% |
| Deferred charges and accrued income | 490/1 | €2,211 | €573 | -€1,638 | -74.1% |
| Total equity and liabilities | 10/49 | €25,209 | €190,243 | +€165,035 | +654.7% |
| Equity | 10/15 | €7,705 | €42,306 | +€34,601 | +449.1% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,205 | €38,806 | +€34,601 | +822.9% |
| Amounts payable | 17/49 | €17,504 | €147,937 | +€130,434 | +745.2% |
| Amounts payable after more than one year | 17 | €9,245 | €104,780 | +€95,536 | +1033.4% |
| Financial debts | 170/4 | - | €74,780 | +€74,780 | |
| Other amounts payable | 178/9 | €9,245 | €30,000 | +€20,755 | +224.5% |
| Amounts payable within one year | 42/48 | €8,259 | €42,140 | +€33,881 | +410.2% |
| Current portion of amounts payable after more than one year | 42 | - | €16,000 | +€16,000 | |
| Trade debts | 44 | €1,575 | €17,599 | +€16,024 | +1017.2% |
| Suppliers | 440/4 | €1,575 | €17,599 | +€16,024 | +1017.2% |
| Taxes, remuneration and social security | 45 | €5,884 | €7,765 | +€1,882 | +32.0% |
| Taxes | 450/3 | €5,884 | €7,765 | +€1,882 | +32.0% |
| Other amounts payable | 47/48 | €800 | €776 | -€24 | -3.0% |
| Accrued charges and deferred income | 492/3 | - | €1,016 | +€1,016 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €1,629 | +€1,416 | +665.7% |
| Other operating charges | 640/8 | €50 | €648 | +€598 | +1184.3% |
| Gross operating margin | 9900 | €7,234 | €49,055 | +€41,820 | +578.1% |
| Operating profit (loss) | 9901 | €6,971 | €46,777 | +€39,806 | +571.0% |
| Financial income | 75/76B | - | €253 | +€253 | |
| Recurring financial income | 75 | - | €253 | +€253 | |
| Financial charges | 65/66B | €466 | €5,343 | +€4,876 | +1045.9% |
| Recurring financial charges | 65 | €466 | €5,343 | +€4,876 | +1045.9% |
| Profit (loss) for the period before taxes | 9903 | €6,505 | €41,687 | +€35,182 | +540.9% |
| Income taxes | 67/77 | €1,500 | €6,286 | +€4,786 | +319.1% |
| Profit (loss) for the period | 9904 | €5,005 | €35,401 | +€30,396 | +607.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,005 | €35,401 | +€30,396 | +607.3% |
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 2 October 2026 via checked.be.