MANAGEMENT CONSULTANCY OFFICE: what changed
What changed
MANAGEMENT CONSULTANCY OFFICE
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€38,642
2024 · €17,269+€21,373
Equity
€401,357
2024 · €335,811+€65,547
Cash
€3,369
2024 · €7,214-€3,845
Balance sheet total
€1.3m
2024 · €1.2m+€167,198
Largest movements
Assets
- Tangible fixed assets +€220,836
up €220,836 (+21.1%), from €1.0m to €1.3m
- Receivables within one year -€49,862
down €49,862 (-46.2%), from €107,942 to €58,080
of which Other amounts receivable: -€30,831
Equity and liabilities
- Trade debts +€75,571
up €75,571 (+69.8%), from €108,259 to €183,830
- Reserves +€65,547
up €65,547 (+20.3%), from €323,411 to €388,957
- Current portion of long-term debt +€36,208
new in 2025: €36,208
- Tax, wage and social debts -€29,530
down €29,530 (-54.3%), from €54,410 to €24,880
- Other debts +€26,157
up €26,157 (+238%), from €11,000 to €37,157
Income statement
- Depreciation -€28,747
no longer reported in 2025 (was €28,747)
- Financial charges +€12,928
up €12,928 (+85.0%), from €15,209 to €28,137
- Gross operating margin +€10,275
up €10,275 (+16.3%), from €63,096 to €73,371
- Taxes +€3,864
new in 2025: €3,864
- Other operating charges +€857
up €857 (+45.8%), from €1,871 to €2,727
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.
Result 2024
€17,269
Gross operating margin
+€10,275
Depreciation
+€28,747
Other operating charges
-€857
Financial charges
-€12,928
Taxes
-€3,864
Result 2025
€38,642
raises the resultlowers the result
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.
From operations
+€161,033
Investment
-€220,836
Financing
+€55,958
Cash 2024
€7,214
From operations (derived)
+€161,033
Net result for the year
+€38,642
Receivables within one year
+€49,862
Smaller working-capital items
+€331
Trade debts
+€75,571
Tax, wage and social debts
-€29,530
Other debts
+€26,157
Investment (derived)
-€220,836
Investment in fixed assets (net)
-€220,836
Financing
+€55,958
Debts after one year
-€7,155
Current portion of long-term debt
+€36,208
Contributions, distributions and other
+€26,905
Cash 2025
€3,369
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,165,727 | €1,332,925 | +€167,198 | +14.3% |
| Fixed assets | 21/28 | €1,049,048 | €1,269,883 | +€220,836 | +21.1% |
| Tangible fixed assets | 22/27 | €1,049,048 | €1,269,883 | +€220,836 | +21.1% |
| Land and buildings | 22 | €1,049,048 | €1,269,883 | +€220,836 | +21.1% |
| Current assets | 29/58 | €116,679 | €63,041 | -€53,638 | -46.0% |
| Amounts receivable within one year | 40/41 | €107,942 | €58,080 | -€49,862 | -46.2% |
| Trade receivables | 40 | €77,111 | €58,080 | -€19,031 | -24.7% |
| Other amounts receivable | 41 | €30,831 | - | -€30,831 | |
| Cash at bank and in hand | 54/58 | €7,214 | €3,369 | -€3,845 | -53.3% |
| Deferred charges and accrued income | 490/1 | €1,523 | €1,592 | +€69 | +4.5% |
| Total equity and liabilities | 10/49 | €1,165,727 | €1,332,925 | +€167,198 | +14.3% |
| Equity | 10/15 | €335,811 | €401,357 | +€65,547 | +19.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €323,411 | €388,957 | +€65,547 | +20.3% |
| Distributable reserves | 133 | €323,411 | €388,957 | +€65,547 | +20.3% |
| Amounts payable | 17/49 | €829,916 | €931,568 | +€101,651 | +12.2% |
| Amounts payable after more than one year | 17 | €656,247 | €649,092 | -€7,155 | -1.1% |
| Financial debts | 170/4 | €656,247 | €649,092 | -€7,155 | -1.1% |
| Amounts payable within one year | 42/48 | €173,669 | €282,076 | +€108,407 | +62.4% |
| Current portion of amounts payable after more than one year | 42 | - | €36,208 | +€36,208 | |
| Trade debts | 44 | €108,259 | €183,830 | +€75,571 | +69.8% |
| Suppliers | 440/4 | €108,259 | €183,830 | +€75,571 | +69.8% |
| Taxes, remuneration and social security | 45 | €54,410 | €24,880 | -€29,530 | -54.3% |
| Taxes | 450/3 | €54,410 | €24,880 | -€29,530 | -54.3% |
| Other amounts payable | 47/48 | €11,000 | €37,157 | +€26,157 | +238% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,747 | - | -€28,747 | |
| Other operating charges | 640/8 | €1,871 | €2,727 | +€857 | +45.8% |
| Gross operating margin | 9900 | €63,096 | €73,371 | +€10,275 | +16.3% |
| Operating profit (loss) | 9901 | €32,478 | €70,643 | +€38,165 | +118% |
| Financial charges | 65/66B | €15,209 | €28,137 | +€12,928 | +85.0% |
| Recurring financial charges | 65 | €15,209 | €28,137 | +€12,928 | +85.0% |
| Profit (loss) for the period before taxes | 9903 | €17,269 | €42,506 | +€25,237 | +146% |
| Income taxes | 67/77 | - | €3,864 | +€3,864 | |
| Profit (loss) for the period | 9904 | €17,269 | €38,642 | +€21,373 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €17,269 | €38,642 | +€21,373 | +124% |
Next steps
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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 4 November 2026 via checked.be.