A.B.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.B.D.
Largest movements
- Intangible fixed assets +€524,250
up €524,250 (+156%), from €335,811 to €860,060
- Tangible fixed assets +€348,246
up €348,246 (+904%), from €38,505 to €386,751
of which Other tangible fixed assets: +€318,133
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Cash +€150,298
up €150,298 (+293%), from €51,263 to €201,561
mainly Debts after one year (+€452,066) and Other debts (+€200,000)
- Receivables within one year +€51,177
up €51,177 (+74.9%), from €68,341 to €119,518
of which Other amounts receivable: +€44,780
- Debts after one year +€452,066
up €452,066 (+247%), from €182,837 to €634,903
- Other debts +€200,000
up €200,000 (+79.5%), from €251,492 to €451,492
- Reserves +€91,582
up €91,582 (+73.1%), from €125,259 to €216,841
- Current portion of long-term debt +€91,569
up €91,569 (+112%), from €81,551 to €173,121
- Tax, wage and social debts +€25,230
up €25,230 (+109%), from €23,212 to €48,442
of which Remuneration and social security: +€22,667
- Gross operating margin +€92,988
up €92,988 (+20.4%), from €456,625 to €549,612
- Depreciation +€68,062
up €68,062 (+86.9%), from €78,304 to €146,366
- Staff costs +€58,318
up €58,318 (+47.1%), from €123,727 to €182,045
- Taxes -€20,882
down €20,882 (-52.2%), from €40,018 to €19,135
- Financial charges +€12,655
up €12,655 (+161%), from €7,843 to €20,498
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 | €698,096 | €1,574,483 | +€876,387 | +126% |
| Fixed assets | 21/28 | €377,315 | €1,249,812 | +€872,496 | +231% |
| Intangible fixed assets | 21 | €335,811 | €860,060 | +€524,250 | +156% |
| Tangible fixed assets | 22/27 | €38,505 | €386,751 | +€348,246 | +904% |
| Furniture and vehicles | 24 | €429 | €30,542 | +€30,114 | +7,023% |
| Other tangible fixed assets | 26 | €38,076 | €356,209 | +€318,133 | +836% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €320,780 | €324,671 | +€3,891 | +1.2% |
| Amounts receivable within one year | 40/41 | €68,341 | €119,518 | +€51,177 | +74.9% |
| Trade receivables | 40 | - | €6,397 | +€6,397 | |
| Other amounts receivable | 41 | €68,341 | €113,121 | +€44,780 | +65.5% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €51,263 | €201,561 | +€150,298 | +293% |
| Deferred charges and accrued income | 490/1 | €1,176 | €3,592 | +€2,416 | +205% |
| Total equity and liabilities | 10/49 | €698,096 | €1,574,483 | +€876,387 | +126% |
| Equity | 10/15 | €146,259 | €237,841 | +€91,582 | +62.6% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €125,259 | €216,841 | +€91,582 | +73.1% |
| Distributable reserves | 133 | €125,259 | €216,841 | +€91,582 | +73.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €551,837 | €1,336,642 | +€784,805 | +142% |
| Amounts payable after more than one year | 17 | €182,837 | €634,903 | +€452,066 | +247% |
| Financial debts | 170/4 | €182,837 | €634,903 | +€452,066 | +247% |
| Amounts payable within one year | 42/48 | €364,600 | €696,019 | +€331,419 | +90.9% |
| Current portion of amounts payable after more than one year | 42 | €81,551 | €173,121 | +€91,569 | +112% |
| Trade debts | 44 | €8,345 | €22,965 | +€14,620 | +175% |
| Suppliers | 440/4 | €8,345 | €22,965 | +€14,620 | +175% |
| Taxes, remuneration and social security | 45 | €23,212 | €48,442 | +€25,230 | +109% |
| Taxes | 450/3 | €3,834 | €6,397 | +€2,563 | +66.9% |
| Remuneration and social security | 454/9 | €19,378 | €42,045 | +€22,667 | +117% |
| Other amounts payable | 47/48 | €251,492 | €451,492 | +€200,000 | +79.5% |
| Accrued charges and deferred income | 492/3 | €4,400 | €5,720 | +€1,321 | +30.0% |
| Remuneration, social security and pensions | 62 | €123,727 | €182,045 | +€58,318 | +47.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,304 | €146,366 | +€68,062 | +86.9% |
| Other operating charges | 640/8 | €773 | €693 | -€80 | -10.4% |
| Gross operating margin | 9900 | €456,625 | €549,612 | +€92,988 | +20.4% |
| Operating profit (loss) | 9901 | €253,821 | €220,508 | -€33,313 | -13.1% |
| Financial income | 75/76B | €0 | €708 | +€707 | +336,886% |
| Recurring financial income | 75 | €0 | €708 | +€707 | +336,886% |
| Financial charges | 65/66B | €7,843 | €20,498 | +€12,655 | +161% |
| Recurring financial charges | 65 | €7,843 | €20,498 | +€12,655 | +161% |
| Profit (loss) for the period before taxes | 9903 | €245,978 | €200,718 | -€45,261 | -18.4% |
| Income taxes | 67/77 | €40,018 | €19,135 | -€20,882 | -52.2% |
| Profit (loss) for the period | 9904 | €205,961 | €181,582 | -€24,378 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €205,961 | €181,582 | -€24,378 | -11.8% |
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 24 October 2026 via checked.be.