MORE AD VICE: 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.
MORE AD VICE
Largest movements
- Cash +€34,527
up €34,527 (+53.9%), from €64,110 to €98,637
mainly Depreciation (+€21,249) and Net result for the year (+€19,449)
- Tangible fixed assets -€21,249
down €21,249 (-5.9%), from €358,448 to €337,199
of which Land and buildings: -€12,567
- Reserves +€19,000
up €19,000 (+27.1%), from €70,060 to €89,060
of which Distributable reserves: +€20,860
- Other debts -€5,448
down €5,448 (-29.3%), from €18,601 to €13,152
- Gross operating margin +€17,366
up €17,366 (+48.3%), from €35,971 to €53,338
- Taxes +€5,682
up €5,682 (+140%), from €4,048 to €9,730
- Depreciation -€1,722
down €1,722 (-7.5%), from €22,971 to €21,249
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 | €448,851 | €458,364 | +€9,512 | +2.1% |
| Fixed assets | 21/28 | €358,473 | €337,224 | -€21,249 | -5.9% |
| Tangible fixed assets | 22/27 | €358,448 | €337,199 | -€21,249 | -5.9% |
| Land and buildings | 22 | €308,093 | €295,526 | -€12,567 | -4.1% |
| Furniture and vehicles | 24 | €50,355 | €41,673 | -€8,682 | -17.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €90,378 | €121,140 | +€30,762 | +34.0% |
| Amounts receivable within one year | 40/41 | €24,220 | €20,366 | -€3,854 | -15.9% |
| Trade receivables | 40 | €22,720 | €20,066 | -€2,654 | -11.7% |
| Other amounts receivable | 41 | €1,500 | €300 | -€1,200 | -80.0% |
| Cash at bank and in hand | 54/58 | €64,110 | €98,637 | +€34,527 | +53.9% |
| Deferred charges and accrued income | 490/1 | €2,048 | €2,137 | +€89 | +4.3% |
| Total equity and liabilities | 10/49 | €448,851 | €458,364 | +€9,512 | +2.1% |
| Equity | 10/15 | €411,025 | €430,474 | +€19,449 | +4.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €70,060 | €89,060 | +€19,000 | +27.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €68,200 | €89,060 | +€20,860 | +30.6% |
| Profit (loss) carried forward | 14 | €334,765 | €335,214 | +€449 | +0.1% |
| Amounts payable | 17/49 | €37,826 | €27,890 | -€9,936 | -26.3% |
| Amounts payable after more than one year | 17 | €1,706 | - | -€1,706 | |
| Financial debts | 170/4 | €1,706 | - | -€1,706 | |
| Amounts payable within one year | 42/48 | €36,120 | €27,890 | -€8,230 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €5,081 | €1,706 | -€3,375 | -66.4% |
| Trade debts | 44 | €184 | €2,514 | +€2,330 | +1,265% |
| Suppliers | 440/4 | €184 | €2,514 | +€2,330 | +1,265% |
| Taxes, remuneration and social security | 45 | €12,255 | €10,518 | -€1,737 | -14.2% |
| Taxes | 450/3 | €12,255 | €8,518 | -€3,737 | -30.5% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €18,601 | €13,152 | -€5,448 | -29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,971 | €21,249 | -€1,722 | -7.5% |
| Other operating charges | 640/8 | €2,840 | €2,688 | -€152 | -5.4% |
| Gross operating margin | 9900 | €35,971 | €53,338 | +€17,366 | +48.3% |
| Operating profit (loss) | 9901 | €10,161 | €29,401 | +€19,240 | +189% |
| Financial charges | 65/66B | €517 | €222 | -€295 | -57.0% |
| Recurring financial charges | 65 | €517 | €222 | -€295 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | €9,643 | €29,178 | +€19,535 | +203% |
| Income taxes | 67/77 | €4,048 | €9,730 | +€5,682 | +140% |
| Profit (loss) for the period | 9904 | €5,595 | €19,449 | +€13,853 | +248% |
| Profit (loss) for the period to be appropriated | 9905 | €5,595 | €19,449 | +€13,853 | +248% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.