NL 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.
NL Advisory
Largest movements
- Receivables after one year -€307,353
no longer reported in 2025 (was €307,353)
- Cash +€305,671
up €305,671 (+662.4%), from €46,144 to €351,815
mainly Receivables after one year (+€307,353) and Net result for the year (+€299,975)
- Current investments +€245,593
new in 2025: €245,593
- Receivables within one year -€40,405
down €40,405 (-67.1%), from €60,215 to €19,810
of which Other amounts receivable: -€57,622
- Tangible fixed assets -€8,059
down €8,059 (-46.4%), from €17,381 to €9,322
of which Furniture and vehicles: -€6,849
- Profit (loss) carried forward +€129,975
up €129,975 (+67.0%), from €194,080 to €324,054
- Other debts +€65,103
new in 2025: €65,103
- Trade debts -€13,451
down €13,451 (-92.7%), from €14,511 to €1,060
- Tax, wage and social debts +€11,321
up €11,321 (+20.5%), from €55,122 to €66,443
- Gross operating margin +€153,862
up €153,862 (+64.4%), from €239,044 to €392,906
- Taxes +€22,996
up €22,996 (+31.8%), from €72,354 to €95,350
- Financial income +€3,935
up €3,935 (+50.6%), from €7,773 to €11,708
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 | €433,641 | €626,589 | +€192,948 | +44.5% |
| Fixed assets | 21/28 | €19,881 | €9,322 | -€10,559 | -53.1% |
| Tangible fixed assets | 22/27 | €17,381 | €9,322 | -€8,059 | -46.4% |
| Furniture and vehicles | 24 | €9,350 | €2,502 | -€6,849 | -73.2% |
| Other tangible fixed assets | 26 | €8,031 | €6,820 | -€1,210 | -15.1% |
| Financial fixed assets | 28 | €2,500 | - | -€2,500 | |
| Current assets | 29/58 | €413,760 | €617,267 | +€203,507 | +49.2% |
| Amounts receivable after more than one year | 29 | €307,353 | - | -€307,353 | |
| Other amounts receivable | 291 | €307,353 | - | -€307,353 | |
| Amounts receivable within one year | 40/41 | €60,215 | €19,810 | -€40,405 | -67.1% |
| Trade receivables | 40 | €93 | €17,310 | +€17,217 | +18477.4% |
| Other amounts receivable | 41 | €60,122 | €2,500 | -€57,622 | -95.8% |
| Current investments | 50/53 | - | €245,593 | +€245,593 | |
| Cash at bank and in hand | 54/58 | €46,144 | €351,815 | +€305,671 | +662.4% |
| Deferred charges and accrued income | 490/1 | €48 | €49 | +€2 | +3.4% |
| Total equity and liabilities | 10/49 | €433,641 | €626,589 | +€192,948 | +44.5% |
| Equity | 10/15 | €363,432 | €493,407 | +€129,975 | +35.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €164,352 | €164,352 | = | 0.0% |
| Distributable reserves | 133 | €164,352 | €164,352 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,080 | €324,054 | +€129,975 | +67.0% |
| Amounts payable | 17/49 | €70,209 | €133,182 | +€62,973 | +89.7% |
| Amounts payable within one year | 42/48 | €69,633 | €132,606 | +€62,973 | +90.4% |
| Trade debts | 44 | €14,511 | €1,060 | -€13,451 | -92.7% |
| Suppliers | 440/4 | €14,511 | €1,060 | -€13,451 | -92.7% |
| Taxes, remuneration and social security | 45 | €55,122 | €66,443 | +€11,321 | +20.5% |
| Taxes | 450/3 | €55,122 | €66,443 | +€11,321 | +20.5% |
| Other amounts payable | 47/48 | - | €65,103 | +€65,103 | |
| Accrued charges and deferred income | 492/3 | €576 | €576 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,782 | €8,831 | -€950 | -9.7% |
| Other operating charges | 640/8 | €283 | €293 | +€10 | +3.7% |
| Gross operating margin | 9900 | €239,044 | €392,906 | +€153,862 | +64.4% |
| Operating profit (loss) | 9901 | €228,979 | €383,781 | +€154,802 | +67.6% |
| Financial income | 75/76B | €7,773 | €11,708 | +€3,935 | +50.6% |
| Recurring financial income | 75 | €7,773 | €11,708 | +€3,935 | +50.6% |
| Financial charges | 65/66B | €46 | €165 | +€118 | +254.2% |
| Recurring financial charges | 65 | €46 | €165 | +€118 | +254.2% |
| Profit (loss) for the period before taxes | 9903 | €236,706 | €395,325 | +€158,619 | +67.0% |
| Income taxes | 67/77 | €72,354 | €95,350 | +€22,996 | +31.8% |
| Profit (loss) for the period | 9904 | €164,352 | €299,975 | +€135,622 | +82.5% |
| Profit (loss) for the period to be appropriated | 9905 | €164,352 | €299,975 | +€135,622 | +82.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.