P9 Advies: 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.
P9 Advies
Largest movements
- Current investments -€116,609
no longer reported in 2025 (was €116,609)
- Receivables within one year +€53,987
up €53,987 (+123%), from €43,819 to €97,806
of which Trade receivables: +€33,941
- Cash +€24,718
new in 2025: €24,718
mainly Current investments (+€116,609) and Net result for the year (+€36,188)
- Reserves -€45,283
down €45,283 (-16.9%), from €267,632 to €222,350
- Tax, wage and social debts -€20,010
down €20,010 (-67.7%), from €29,556 to €9,547
- Other debts +€15,070
up €15,070 (+28.7%), from €52,500 to €67,570
- Profit (loss) carried forward +€13,901
no longer reported in 2025 (was -€13,901)
- Gross operating margin +€60,724
up €60,724, from -€16,997 to €43,727
- Taxes +€12,379
up €12,379 (+5,101%), from €243 to €12,622
- Financial income +€1,672
up €1,672 (+32.4%), from €5,156 to €6,828
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 | €343,313 | €306,929 | -€36,384 | -10.6% |
| Fixed assets | 21/28 | €2,487 | €1,932 | -€555 | -22.3% |
| Tangible fixed assets | 22/27 | €2,179 | €1,624 | -€555 | -25.5% |
| Plant, machinery and equipment | 23 | €2,179 | €1,624 | -€555 | -25.5% |
| Financial fixed assets | 28 | €309 | €309 | = | 0.0% |
| Current assets | 29/58 | €340,826 | €304,997 | -€35,829 | -10.5% |
| Amounts receivable after more than one year | 29 | €180,000 | €180,000 | = | 0.0% |
| Other amounts receivable | 291 | €180,000 | €180,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,819 | €97,806 | +€53,987 | +123% |
| Trade receivables | 40 | - | €33,941 | +€33,941 | |
| Other amounts receivable | 41 | €43,819 | €63,865 | +€20,046 | +45.7% |
| Current investments | 50/53 | €116,609 | - | -€116,609 | |
| Cash at bank and in hand | 54/58 | - | €24,718 | +€24,718 | |
| Deferred charges and accrued income | 490/1 | €398 | €2,474 | +€2,075 | +521% |
| Total equity and liabilities | 10/49 | €343,313 | €306,929 | -€36,384 | -10.6% |
| Equity | 10/15 | €259,932 | €228,550 | -€31,382 | -12.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €267,632 | €222,350 | -€45,283 | -16.9% |
| Distributable reserves | 133 | €267,632 | €222,350 | -€45,283 | -16.9% |
| Profit (loss) carried forward | 14 | -€13,901 | - | +€13,901 | |
| Amounts payable | 17/49 | €83,381 | €78,380 | -€5,002 | -6.0% |
| Amounts payable within one year | 42/48 | €83,381 | €78,380 | -€5,002 | -6.0% |
| Trade debts | 44 | €1,325 | €1,263 | -€62 | -4.7% |
| Suppliers | 440/4 | €1,325 | €1,263 | -€62 | -4.7% |
| Taxes, remuneration and social security | 45 | €29,556 | €9,547 | -€20,010 | -67.7% |
| Taxes | 450/3 | €29,556 | €9,547 | -€20,010 | -67.7% |
| Other amounts payable | 47/48 | €52,500 | €67,570 | +€15,070 | +28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €769 | €555 | -€214 | -27.8% |
| Other operating charges | 640/8 | €998 | €1,120 | +€122 | +12.3% |
| Gross operating margin | 9900 | -€16,997 | €43,727 | +€60,724 | |
| Operating profit (loss) | 9901 | -€18,764 | €42,052 | +€60,816 | |
| Financial income | 75/76B | €5,156 | €6,828 | +€1,672 | +32.4% |
| Recurring financial income | 75 | €5,156 | €6,828 | +€1,672 | +32.4% |
| Financial charges | 65/66B | €69 | €70 | +€1 | +2.0% |
| Recurring financial charges | 65 | €69 | €70 | +€1 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,677 | €48,810 | +€62,486 | |
| Income taxes | 67/77 | €243 | €12,622 | +€12,379 | +5,101% |
| Profit (loss) for the period | 9904 | -€13,920 | €36,188 | +€50,107 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,920 | €36,188 | +€50,107 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.