Sherpa 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.
Sherpa Advisory Services
Largest movements
- Receivables within one year +€329,861
up €329,861 (+114%), from €288,586 to €618,447
of which Other amounts receivable: +€212,395
- Cash -€30,494
down €30,494 (-86.0%), from €35,441 to €4,947
mainly Receivables within one year (-€329,861) and Investment in fixed assets (net) (-€27,666)
- Deferred charges and accrued income -€20,488
down €20,488 (-98.4%), from €20,829 to €342
- Tangible fixed assets +€19,796
up €19,796 (+147%), from €13,495 to €33,291
of which Other tangible fixed assets: +€22,912
- Trade debts +€138,775
up €138,775 (+343%), from €40,504 to €179,279
- Reserves +€116,000
up €116,000 (+47.3%), from €245,000 to €361,000
- Tax, wage and social debts +€37,781
up €37,781 (+44.9%), from €84,224 to €122,006
of which Taxes: +€36,157
- Gross operating margin -€14,328
down €14,328 (-7.1%), from €202,133 to €187,805
- Financial income +€9,437
up €9,437 (+140%), from €6,724 to €16,161
- Taxes -€4,317
down €4,317 (-8.6%), from €50,019 to €45,702
- Other operating charges -€2,159
down €2,159 (-46.8%), from €4,612 to €2,454
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 | €373,851 | €666,026 | +€292,175 | +78.2% |
| Fixed assets | 21/28 | €16,495 | €36,291 | +€19,796 | +120% |
| Tangible fixed assets | 22/27 | €13,495 | €33,291 | +€19,796 | +147% |
| Furniture and vehicles | 24 | €10,645 | €7,529 | -€3,116 | -29.3% |
| Other tangible fixed assets | 26 | €2,850 | €25,762 | +€22,912 | +804% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €357,356 | €629,735 | +€272,379 | +76.2% |
| Amounts receivable within one year | 40/41 | €288,586 | €618,447 | +€329,861 | +114% |
| Trade receivables | 40 | €114,722 | €232,187 | +€117,465 | +102% |
| Other amounts receivable | 41 | €173,864 | €386,260 | +€212,395 | +122% |
| Current investments | 50/53 | €12,500 | €6,000 | -€6,500 | -52.0% |
| Cash at bank and in hand | 54/58 | €35,441 | €4,947 | -€30,494 | -86.0% |
| Deferred charges and accrued income | 490/1 | €20,829 | €342 | -€20,488 | -98.4% |
| Total equity and liabilities | 10/49 | €373,851 | €666,026 | +€292,175 | +78.2% |
| Equity | 10/15 | €249,031 | €364,741 | +€115,711 | +46.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €245,000 | €361,000 | +€116,000 | +47.3% |
| Distributable reserves | 133 | €245,000 | €361,000 | +€116,000 | +47.3% |
| Profit (loss) carried forward | 14 | €1,031 | €741 | -€289 | -28.1% |
| Amounts payable | 17/49 | €124,820 | €301,285 | +€176,465 | +141% |
| Amounts payable within one year | 42/48 | €124,729 | €301,285 | +€176,556 | +142% |
| Trade debts | 44 | €40,504 | €179,279 | +€138,775 | +343% |
| Suppliers | 440/4 | €40,504 | €179,279 | +€138,775 | +343% |
| Taxes, remuneration and social security | 45 | €84,224 | €122,006 | +€37,781 | +44.9% |
| Taxes | 450/3 | €83,181 | €119,339 | +€36,157 | +43.5% |
| Remuneration and social security | 454/9 | €1,043 | €2,667 | +€1,624 | +156% |
| Accrued charges and deferred income | 492/3 | €92 | €0 | -€92 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,062 | €7,870 | +€1,808 | +29.8% |
| Other operating charges | 640/8 | €4,612 | €2,454 | -€2,159 | -46.8% |
| Non-recurring operating charges | 66A | €250 | €20,782 | +€20,532 | +8,221% |
| Gross operating margin | 9900 | €202,133 | €187,805 | -€14,328 | -7.1% |
| Operating profit (loss) | 9901 | €191,208 | €156,699 | -€34,509 | -18.0% |
| Financial income | 75/76B | €6,724 | €16,161 | +€9,437 | +140% |
| Recurring financial income | 75 | €6,724 | €16,161 | +€9,437 | +140% |
| Financial charges | 65/66B | €10,138 | €11,447 | +€1,309 | +12.9% |
| Recurring financial charges | 65 | €10,138 | €11,447 | +€1,309 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €187,794 | €161,413 | -€26,382 | -14.0% |
| Income taxes | 67/77 | €50,019 | €45,702 | -€4,317 | -8.6% |
| Profit (loss) for the period | 9904 | €137,775 | €115,711 | -€22,065 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €137,775 | €115,711 | -€22,065 | -16.0% |
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 1 November 2026 via checked.be.