WELL-ADVISED: 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.
WELL-ADVISED
Largest movements
- Current investments +€86,889
up €86,889 (+43.4%), from €200,000 to €286,889
- Cash +€62,387
up €62,387 (+19.3%), from €323,029 to €385,416
mainly Other debts (+€183,970) and Net result for the year (+€109,116)
- Receivables within one year -€23,979
down €23,979 (-99.1%), from €24,200 to €222
of which Trade receivables: -€23,980
- Other debts +€183,970
up €183,970 (+126.1%), from €145,871 to €329,841
- Reserves -€65,300
down €65,300 (-16.8%), from €389,769 to €324,469
of which Distributable reserves: -€65,300
- Financial income +€7,420
up €7,420 (+396.5%), from €1,871 to €9,291
- Gross operating margin +€6,576
up €6,576 (+4.2%), from €157,155 to €163,731
- Taxes +€3,898
up €3,898 (+9.2%), from €42,202 to €46,100
- Financial charges +€2,506
up €2,506 (+32.7%), from €7,663 to €10,169
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 | €569,558 | €696,800 | +€127,242 | +22.3% |
| Fixed assets | 21/28 | €21,985 | €21,052 | -€933 | -4.2% |
| Tangible fixed assets | 22/27 | €21,985 | €21,052 | -€933 | -4.2% |
| Furniture and vehicles | 24 | €12,230 | €7,313 | -€4,917 | -40.2% |
| Other tangible fixed assets | 26 | €9,755 | €13,739 | +€3,984 | +40.8% |
| Current assets | 29/58 | €547,573 | €675,748 | +€128,175 | +23.4% |
| Amounts receivable within one year | 40/41 | €24,200 | €222 | -€23,979 | -99.1% |
| Trade receivables | 40 | €24,184 | €204 | -€23,980 | -99.2% |
| Other amounts receivable | 41 | €16 | €18 | +€2 | +9.4% |
| Current investments | 50/53 | €200,000 | €286,889 | +€86,889 | +43.4% |
| Cash at bank and in hand | 54/58 | €323,029 | €385,416 | +€62,387 | +19.3% |
| Deferred charges and accrued income | 490/1 | €344 | €3,222 | +€2,878 | +837.1% |
| Total equity and liabilities | 10/49 | €569,558 | €696,800 | +€127,242 | +22.3% |
| Equity | 10/15 | €396,640 | €331,456 | -€65,184 | -16.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €389,769 | €324,469 | -€65,300 | -16.8% |
| Tax-exempt reserves | 132 | €1,989 | €1,989 | = | 0.0% |
| Distributable reserves | 133 | €387,780 | €322,480 | -€65,300 | -16.8% |
| Profit (loss) carried forward | 14 | €671 | €786 | +€116 | +17.3% |
| Amounts payable | 17/49 | €172,919 | €365,344 | +€192,426 | +111.3% |
| Amounts payable within one year | 42/48 | €165,481 | €355,369 | +€189,888 | +114.7% |
| Trade debts | 44 | €924 | €0 | -€924 | -100.0% |
| Suppliers | 440/4 | €924 | €0 | -€924 | -100.0% |
| Taxes, remuneration and social security | 45 | €18,686 | €25,528 | +€6,843 | +36.6% |
| Taxes | 450/3 | €15,586 | €22,428 | +€6,843 | +43.9% |
| Remuneration and social security | 454/9 | €3,100 | €3,100 | = | 0.0% |
| Other amounts payable | 47/48 | €145,871 | €329,841 | +€183,970 | +126.1% |
| Accrued charges and deferred income | 492/3 | €7,438 | €9,975 | +€2,537 | +34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,192 | €6,535 | +€343 | +5.5% |
| Other operating charges | 640/8 | €1,025 | €1,102 | +€77 | +7.5% |
| Gross operating margin | 9900 | €157,155 | €163,731 | +€6,576 | +4.2% |
| Operating profit (loss) | 9901 | €149,939 | €156,095 | +€6,155 | +4.1% |
| Financial income | 75/76B | €1,871 | €9,291 | +€7,420 | +396.5% |
| Recurring financial income | 75 | €1,871 | €9,291 | +€7,420 | +396.5% |
| Financial charges | 65/66B | €7,663 | €10,169 | +€2,506 | +32.7% |
| Recurring financial charges | 65 | €7,663 | €10,169 | +€2,506 | +32.7% |
| Profit (loss) for the period before taxes | 9903 | €144,147 | €155,216 | +€11,069 | +7.7% |
| Income taxes | 67/77 | €42,202 | €46,100 | +€3,898 | +9.2% |
| Profit (loss) for the period | 9904 | €101,945 | €109,116 | +€7,171 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,945 | €109,116 | +€7,171 | +7.0% |
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 8 October 2026 via checked.be.