M.N. Advies: what changed
M.N. Advies
Largest movements
- Tangible fixed assets -€18,642
down €18,642 (-16.5%), from €113,192 to €94,550
of which Furniture and vehicles: -€16,307
- Receivables within one year +€15,282
up €15,282 (+86.3%), from €17,706 to €32,988
of which Trade receivables: +€14,232
- Cash +€7,499
up €7,499 (+7.3%), from €103,331 to €110,831
mainly Net result for the year (+€47,792) and Depreciation (+€18,642)
- Profit (loss) carried forward +€223,228
up €223,228, from -€223,228 to €0
- Reserves -€175,437
down €175,437 (-81.9%), from €214,107 to €38,670
of which Distributable reserves: -€175,437
- Other debts -€50,637
down €50,637 (-30.2%), from €167,443 to €116,805
- Tax, wage and social debts +€7,654
up €7,654 (+4,013%), from €191 to €7,845
of which Taxes: +€7,654
- Gross operating margin -€20,631
down €20,631 (-20.6%), from €100,340 to €79,709
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 | €234,229 | €238,368 | +€4,139 | +1.8% |
| Fixed assets | 21/28 | €113,192 | €94,550 | -€18,642 | -16.5% |
| Tangible fixed assets | 22/27 | €113,192 | €94,550 | -€18,642 | -16.5% |
| Land and buildings | 22 | €6,309 | €4,809 | -€1,499 | -23.8% |
| Plant, machinery and equipment | 23 | €3,725 | €2,889 | -€835 | -22.4% |
| Furniture and vehicles | 24 | €103,158 | €86,851 | -€16,307 | -15.8% |
| Current assets | 29/58 | €121,037 | €143,819 | +€22,781 | +18.8% |
| Amounts receivable within one year | 40/41 | €17,706 | €32,988 | +€15,282 | +86.3% |
| Trade receivables | 40 | €17,706 | €31,938 | +€14,232 | +80.4% |
| Other amounts receivable | 41 | €0 | €1,050 | +€1,050 | |
| Cash at bank and in hand | 54/58 | €103,331 | €110,831 | +€7,499 | +7.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €234,229 | €238,368 | +€4,139 | +1.8% |
| Equity | 10/15 | €65,878 | €113,670 | +€47,792 | +72.5% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €214,107 | €38,670 | -€175,437 | -81.9% |
| Non-distributable reserves | 130/1 | €11,859 | €11,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,859 | €11,859 | = | 0.0% |
| Distributable reserves | 133 | €202,247 | €26,811 | -€175,437 | -86.7% |
| Profit (loss) carried forward | 14 | -€223,228 | €0 | +€223,228 | |
| Amounts payable | 17/49 | €168,351 | €124,698 | -€43,652 | -25.9% |
| Amounts payable within one year | 42/48 | €168,351 | €124,698 | -€43,652 | -25.9% |
| Trade debts | 44 | €717 | €48 | -€669 | -93.3% |
| Suppliers | 440/4 | €717 | €48 | -€669 | -93.3% |
| Taxes, remuneration and social security | 45 | €191 | €7,845 | +€7,654 | +4,013% |
| Taxes | 450/3 | €191 | €7,845 | +€7,654 | +4,013% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €167,443 | €116,805 | -€50,637 | -30.2% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,642 | €18,642 | = | 0.0% |
| Other operating charges | 640/8 | €788 | €913 | +€124 | +15.8% |
| Non-recurring operating charges | 66A | €11,835 | €11,835 | = | 0.0% |
| Gross operating margin | 9900 | €100,340 | €79,709 | -€20,631 | -20.6% |
| Operating profit (loss) | 9901 | €69,075 | €48,319 | -€20,755 | -30.0% |
| Financial income | 75/76B | €14 | €1 | -€14 | -96.5% |
| Recurring financial income | 75 | €14 | €1 | -€14 | -96.5% |
| Financial charges | 65/66B | €279 | €528 | +€250 | +89.5% |
| Recurring financial charges | 65 | €279 | €528 | +€250 | +89.5% |
| Profit (loss) for the period before taxes | 9903 | €68,810 | €47,792 | -€21,018 | -30.5% |
| Profit (loss) for the period | 9904 | €68,810 | €47,792 | -€21,018 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,810 | €47,792 | -€21,018 | -30.5% |
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 6 November 2026 via checked.be.