T. HM ADVIES: what changed
What changed
T. HM ADVIES
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€702,672
2024 · €1.1m-€433,927
Equity
€3.0m
2024 · €3.0m+€2,672
Cash
€537,886
2024 · €164,307+€373,578
Balance sheet total
€5.0m
2024 · €4.5m+€449,417
Largest movements
Assets
- Cash +€373,578
up €373,578 (+227%), from €164,307 to €537,886
mainly Net result for the year (+€702,672) and Other debts (+€420,000)
- Current investments -€170,000
no longer reported in 2025 (was €170,000)
- Receivables after one year +€154,971
up €154,971 (+65.7%), from €236,042 to €391,013
- Receivables within one year +€144,161
up €144,161 (+1,213%), from €11,882 to €156,043
of which Trade receivables: +€152,790
Equity and liabilities
- Other debts +€420,000
up €420,000 (+150%), from €280,183 to €700,183
Income statement
- Financial income -€467,873
down €467,873 (-49.9%), from €936,836 to €468,963
- Financial charges -€31,456
down €31,456 (-57.4%), from €54,796 to €23,340
- Gross operating margin +€26,574
up €26,574 (+6.7%), from €399,017 to €425,591
- Taxes +€20,877
up €20,877 (+63.6%), from €32,831 to €53,708
- Staff costs +€14,795
up €14,795 (+17.0%), from €87,126 to €101,921
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
€1.1m
Gross operating margin
+€26,574
Staff costs
-€14,795
Depreciation
-€1,399
Other operating charges
+€12,986
Financial income
-€467,873
Financial charges
+€31,456
Taxes
-€20,877
Result 2025
€702,672
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
+€858,415
Investment
+€216,359
Financing
-€701,196
Cash 2024
€164,307
From operations (derived)
+€858,415
Net result for the year
+€702,672
Depreciation
+€10,121
Receivables after one year
-€154,971
Receivables within one year
-€144,161
Deferred charges and accrued income
-€3,186
Trade debts
+€22,202
Tax, wage and social debts
+€5,739
Other debts
+€420,000
Investment (derived)
+€216,359
Investment in fixed assets (net)
+€46,359
Current investments
+€170,000
Financing
-€701,196
Short-term financial debts
-€1,196
Contributions, distributions and other
-€700,000
Cash 2025
€537,886
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,537,085 | €4,986,502 | +€449,417 | +9.9% |
| Fixed assets | 21/28 | €3,945,553 | €3,889,073 | -€56,481 | -1.4% |
| Tangible fixed assets | 22/27 | €46,121 | €36,000 | -€10,121 | -21.9% |
| Furniture and vehicles | 24 | €16,277 | €10,879 | -€5,398 | -33.2% |
| Other tangible fixed assets | 26 | €29,844 | €25,121 | -€4,723 | -15.8% |
| Financial fixed assets | 28 | €3,899,432 | €3,853,073 | -€46,359 | -1.2% |
| Current assets | 29/58 | €591,532 | €1,097,429 | +€505,897 | +85.5% |
| Amounts receivable after more than one year | 29 | €236,042 | €391,013 | +€154,971 | +65.7% |
| Other amounts receivable | 291 | €236,042 | €391,013 | +€154,971 | +65.7% |
| Amounts receivable within one year | 40/41 | €11,882 | €156,043 | +€144,161 | +1,213% |
| Trade receivables | 40 | €165 | €152,955 | +€152,790 | +92,881% |
| Other amounts receivable | 41 | €11,717 | €3,088 | -€8,629 | -73.6% |
| Current investments | 50/53 | €170,000 | - | -€170,000 | |
| Cash at bank and in hand | 54/58 | €164,307 | €537,886 | +€373,578 | +227% |
| Deferred charges and accrued income | 490/1 | €9,301 | €12,487 | +€3,186 | +34.3% |
| Total equity and liabilities | 10/49 | €4,537,085 | €4,986,502 | +€449,417 | +9.9% |
| Equity | 10/15 | €2,990,172 | €2,992,844 | +€2,672 | +0.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €652,810 | €652,810 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €650,950 | €650,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,331,161 | €2,333,833 | +€2,672 | +0.1% |
| Amounts payable | 17/49 | €1,546,914 | €1,993,658 | +€446,745 | +28.9% |
| Amounts payable after more than one year | 17 | €1,118,089 | €1,118,089 | = | 0.0% |
| Financial debts | 170/4 | €1,118,089 | €1,118,089 | = | 0.0% |
| Amounts payable within one year | 42/48 | €412,053 | €858,798 | +€446,745 | +108% |
| Financial debts | 43 | €20,644 | €19,449 | -€1,196 | -5.8% |
| Credit institutions | 430/8 | €20,644 | €19,449 | -€1,196 | -5.8% |
| Trade debts | 44 | €74,873 | €97,075 | +€22,202 | +29.7% |
| Suppliers | 440/4 | €74,873 | €97,075 | +€22,202 | +29.7% |
| Taxes, remuneration and social security | 45 | €36,352 | €42,091 | +€5,739 | +15.8% |
| Taxes | 450/3 | €22,819 | €27,951 | +€5,131 | +22.5% |
| Remuneration and social security | 454/9 | €13,533 | €14,140 | +€607 | +4.5% |
| Other amounts payable | 47/48 | €280,183 | €700,183 | +€420,000 | +150% |
| Accrued charges and deferred income | 492/3 | €16,771 | €16,771 | = | 0.0% |
| Non-recurring operating income | 76A | €143,661 | €108,611 | -€35,050 | -24.4% |
| Remuneration, social security and pensions | 62 | €87,126 | €101,921 | +€14,795 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,722 | €10,121 | +€1,399 | +16.0% |
| Other operating charges | 640/8 | €15,778 | €2,792 | -€12,986 | -82.3% |
| Gross operating margin | 9900 | €399,017 | €425,591 | +€26,574 | +6.7% |
| Operating profit (loss) | 9901 | €287,390 | €310,757 | +€23,366 | +8.1% |
| Financial income | 75/76B | €936,836 | €468,963 | -€467,873 | -49.9% |
| Recurring financial income | 75 | €936,836 | €468,963 | -€467,873 | -49.9% |
| Financial charges | 65/66B | €54,796 | €23,340 | -€31,456 | -57.4% |
| Recurring financial charges | 65 | €54,796 | €23,340 | -€31,456 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | €1,169,429 | €756,379 | -€413,050 | -35.3% |
| Income taxes | 67/77 | €32,831 | €53,708 | +€20,877 | +63.6% |
| Profit (loss) for the period | 9904 | €1,136,599 | €702,672 | -€433,927 | -38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,136,599 | €702,672 | -€433,927 | -38.2% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 3 November 2026 via checked.be.