A A D: 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.
A A D
Largest movements
- Cash +€147,458
up €147,458 (+89.8%), from €164,134 to €311,593
mainly Other debts (+€550,000) and Net result for the year (+€192,032)
- Stocks and contracts -€89,190
down €89,190 (-12.6%), from €706,210 to €617,020
- Receivables within one year -€21,822
down €21,822 (-6.3%), from €349,109 to €327,287
of which Trade receivables: -€20,502
- Tangible fixed assets -€20,283
down €20,283 (-29.9%), from €67,739 to €47,456
of which Furniture and vehicles: -€12,393
- Other debts +€550,000
up €550,000, from €0 to €550,000
- Profit (loss) carried forward -€367,569
down €367,569 (-90.6%), from €405,771 to €38,202
- Trade debts -€175,868
down €175,868 (-50.7%), from €346,638 to €170,770
- Current portion of long-term debt +€79,000
new in 2025: €79,000
- Tax, wage and social debts -€65,492
down €65,492 (-19.4%), from €336,886 to €271,394
of which Taxes: -€73,996
- Gross operating margin +€165,283
up €165,283 (+10.4%), from €1.6m to €1.8m
- Staff costs -€80,078
down €80,078 (-5.6%), from €1.4m to €1.4m
- Taxes +€49,399
up €49,399 (+127%), from €38,801 to €88,200
- Financial charges +€48,025
up €48,025 (+60.5%), from €79,428 to €127,453
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,299,145 | €1,326,169 | +€27,024 | +2.1% |
| Fixed assets | 21/28 | €76,883 | €56,600 | -€20,283 | -26.4% |
| Tangible fixed assets | 22/27 | €67,739 | €47,456 | -€20,283 | -29.9% |
| Plant, machinery and equipment | 23 | €31,248 | €23,359 | -€7,890 | -25.2% |
| Furniture and vehicles | 24 | €36,491 | €24,098 | -€12,393 | -34.0% |
| Financial fixed assets | 28 | €9,144 | €9,144 | = | 0.0% |
| Current assets | 29/58 | €1,222,262 | €1,269,569 | +€47,307 | +3.9% |
| Stocks and contracts in progress | 3 | €706,210 | €617,020 | -€89,190 | -12.6% |
| Stocks | 30/36 | €706,210 | €617,020 | -€89,190 | -12.6% |
| Amounts receivable within one year | 40/41 | €349,109 | €327,287 | -€21,822 | -6.3% |
| Trade receivables | 40 | €264,113 | €243,611 | -€20,502 | -7.8% |
| Other amounts receivable | 41 | €84,996 | €83,677 | -€1,320 | -1.6% |
| Cash at bank and in hand | 54/58 | €164,134 | €311,593 | +€147,458 | +89.8% |
| Deferred charges and accrued income | 490/1 | €2,808 | €13,669 | +€10,860 | +387% |
| Total equity and liabilities | 10/49 | €1,299,145 | €1,326,169 | +€27,024 | +2.1% |
| Equity | 10/15 | €594,965 | €236,997 | -€357,968 | -60.2% |
| Contributions | 10/11 | €186,000 | €186,000 | = | 0.0% |
| Capital | 10 | €186,000 | €186,000 | = | 0.0% |
| Issued capital | 100 | €186,000 | €186,000 | = | 0.0% |
| Reserves | 13 | €3,194 | €12,795 | +€9,602 | +301% |
| Non-distributable reserves | 130/1 | €3,194 | €12,795 | +€9,602 | +301% |
| Legal reserve | 130 | €3,194 | €12,795 | +€9,602 | +301% |
| Profit (loss) carried forward | 14 | €405,771 | €38,202 | -€367,569 | -90.6% |
| Amounts payable | 17/49 | €704,180 | €1,089,172 | +€384,992 | +54.7% |
| Amounts payable within one year | 42/48 | €683,523 | €1,071,164 | +€387,640 | +56.7% |
| Current portion of amounts payable after more than one year | 42 | - | €79,000 | +€79,000 | |
| Trade debts | 44 | €346,638 | €170,770 | -€175,868 | -50.7% |
| Suppliers | 440/4 | €346,638 | €170,770 | -€175,868 | -50.7% |
| Taxes, remuneration and social security | 45 | €336,886 | €271,394 | -€65,492 | -19.4% |
| Taxes | 450/3 | €117,576 | €43,580 | -€73,996 | -62.9% |
| Remuneration and social security | 454/9 | €219,310 | €227,814 | +€8,504 | +3.9% |
| Other amounts payable | 47/48 | €0 | €550,000 | +€550,000 | |
| Accrued charges and deferred income | 492/3 | €20,657 | €18,008 | -€2,649 | -12.8% |
| Remuneration, social security and pensions | 62 | €1,432,505 | €1,352,427 | -€80,078 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,667 | €20,283 | +€616 | +3.1% |
| Other operating charges | 640/8 | €1,493 | €2,535 | +€1,042 | +69.8% |
| Gross operating margin | 9900 | €1,595,484 | €1,760,767 | +€165,283 | +10.4% |
| Operating profit (loss) | 9901 | €141,819 | €385,522 | +€243,703 | +172% |
| Financial income | 75/76B | €18,535 | €22,164 | +€3,629 | +19.6% |
| Recurring financial income | 75 | €18,535 | €22,164 | +€3,629 | +19.6% |
| Financial charges | 65/66B | €79,428 | €127,453 | +€48,025 | +60.5% |
| Recurring financial charges | 65 | €79,428 | €127,453 | +€48,025 | +60.5% |
| Profit (loss) for the period before taxes | 9903 | €80,926 | €280,232 | +€199,307 | +246% |
| Income taxes | 67/77 | €38,801 | €88,200 | +€49,399 | +127% |
| Profit (loss) for the period | 9904 | €42,125 | €192,032 | +€149,908 | +356% |
| Profit (loss) for the period to be appropriated | 9905 | €42,125 | €192,032 | +€149,908 | +356% |
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 15 October 2026 via checked.be.