MANAGEMENT & ADVISORY SERVICES: 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.
MANAGEMENT & ADVISORY SERVICES
Largest movements
- Receivables within one year -€34,892
down €34,892 (-68.7%), from €50,782 to €15,890
of which Other amounts receivable: -€17,548
- Cash -€22,225
down €22,225 (-25.4%), from €87,644 to €65,419
mainly Net result for the year (-€59,425) and Investment in fixed assets (net) (-€6,405)
- Deferred charges and accrued income -€5,646
down €5,646 (-59.1%), from €9,549 to €3,903
- Profit (loss) carried forward -€59,425
down €59,425 (-76.5%), from €77,639 to €18,214
- Tax, wage and social debts -€2,170
down €2,170 (-8.8%), from €24,778 to €22,608
- Gross operating margin -€102,016
down €102,016, from €51,908 to -€50,108
- Taxes -€5,036
down €5,036 (-80.7%), from €6,242 to €1,207
- Depreciation -€744
down €744 (-11.1%), from €6,692 to €5,947
- Financial income -€548
down €548 (-72.8%), from €753 to €205
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €163,057 | €100,752 | -€62,305 | -38.2% |
| Fixed assets | 21/28 | €15,081 | €15,539 | +€458 | +3.0% |
| Tangible fixed assets | 22/27 | €15,081 | €15,539 | +€458 | +3.0% |
| Furniture and vehicles | 24 | €4,151 | €4,151 | = | 0.0% |
| Other tangible fixed assets | 26 | €10,931 | €11,388 | +€458 | +4.2% |
| Current assets | 29/58 | €147,975 | €85,212 | -€62,763 | -42.4% |
| Amounts receivable within one year | 40/41 | €50,782 | €15,890 | -€34,892 | -68.7% |
| Trade receivables | 40 | €29,367 | €12,023 | -€17,344 | -59.1% |
| Other amounts receivable | 41 | €21,415 | €3,867 | -€17,548 | -81.9% |
| Cash at bank and in hand | 54/58 | €87,644 | €65,419 | -€22,225 | -25.4% |
| Deferred charges and accrued income | 490/1 | €9,549 | €3,903 | -€5,646 | -59.1% |
| Total equity and liabilities | 10/49 | €163,057 | €100,752 | -€62,305 | -38.2% |
| Equity | 10/15 | €106,199 | €46,774 | -€59,425 | -56.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €16,160 | €16,160 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,300 | €14,300 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,639 | €18,214 | -€59,425 | -76.5% |
| Provisions and deferred taxes | 16 | €16,000 | €16,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €16,000 | €16,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €16,000 | €16,000 | = | 0.0% |
| Amounts payable | 17/49 | €40,858 | €37,977 | -€2,880 | -7.0% |
| Amounts payable within one year | 42/48 | €39,588 | €37,325 | -€2,263 | -5.7% |
| Trade debts | 44 | €14,810 | €14,462 | -€348 | -2.4% |
| Suppliers | 440/4 | €14,810 | €14,462 | -€348 | -2.4% |
| Taxes, remuneration and social security | 45 | €24,778 | €22,608 | -€2,170 | -8.8% |
| Taxes | 450/3 | €24,778 | €22,608 | -€2,170 | -8.8% |
| Other amounts payable | 47/48 | - | €255 | +€255 | |
| Accrued charges and deferred income | 492/3 | €1,270 | €652 | -€618 | -48.6% |
| Non-recurring operating income | 76A | - | €4 | +€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,692 | €5,947 | -€744 | -11.1% |
| Other operating charges | 640/8 | €1,365 | €1,152 | -€212 | -15.6% |
| Gross operating margin | 9900 | €51,908 | -€50,108 | -€102,016 | |
| Operating profit (loss) | 9901 | €43,851 | -€57,208 | -€101,059 | |
| Financial income | 75/76B | €753 | €205 | -€548 | -72.8% |
| Recurring financial income | 75 | €753 | €205 | -€548 | -72.8% |
| Financial charges | 65/66B | €1,591 | €1,216 | -€375 | -23.6% |
| Recurring financial charges | 65 | €1,591 | €1,216 | -€375 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €43,014 | -€58,218 | -€101,232 | |
| Income taxes | 67/77 | €6,242 | €1,207 | -€5,036 | -80.7% |
| Profit (loss) for the period | 9904 | €36,772 | -€59,425 | -€96,197 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,772 | -€59,425 | -€96,197 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.