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 & D
Largest movements
- Cash +€19,393
up €19,393 (+17.0%), from €114,206 to €133,599
mainly Trade debts (+€10,495) and Net result for the year (+€6,909)
- Receivables within one year -€5,058
down €5,058 (-63.6%), from €7,948 to €2,890
of which Trade receivables: -€3,936
- Trade debts +€10,495
up €10,495 (+464%), from €2,263 to €12,758
- Reserves +€6,000
up €6,000 (+4.4%), from €136,809 to €142,809
of which Distributable reserves: +€6,000
- Gross operating margin +€4,878
up €4,878 (+52.1%), from €9,369 to €14,247
- Financial income -€1,911
down €1,911 (-70.2%), from €2,722 to €811
- Taxes +€1,041
up €1,041 (+47.3%), from €2,200 to €3,242
- Depreciation +€496
up €496 (+49.6%), from €1,000 to €1,496
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 | €279,006 | €294,686 | +€15,680 | +5.6% |
| Fixed assets | 21/28 | €95,724 | €96,312 | +€587 | +0.6% |
| Tangible fixed assets | 22/27 | €95,724 | €96,312 | +€587 | +0.6% |
| Land and buildings | 22 | €92,566 | €92,566 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,159 | €3,746 | +€587 | +18.6% |
| Current assets | 29/58 | €183,281 | €198,374 | +€15,093 | +8.2% |
| Stocks and contracts in progress | 3 | €4,997 | €4,997 | = | 0.0% |
| Stocks | 30/36 | €4,997 | €4,997 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,948 | €2,890 | -€5,058 | -63.6% |
| Trade receivables | 40 | €3,936 | - | -€3,936 | |
| Other amounts receivable | 41 | €4,012 | €2,890 | -€1,122 | -28.0% |
| Current investments | 50/53 | €54,131 | €54,889 | +€758 | +1.4% |
| Cash at bank and in hand | 54/58 | €114,206 | €133,599 | +€19,393 | +17.0% |
| Deferred charges and accrued income | 490/1 | €2,000 | €2,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €279,006 | €294,686 | +€15,680 | +5.6% |
| Equity | 10/15 | €272,630 | €279,539 | +€6,909 | +2.5% |
| Contributions | 10/11 | €88,092 | €88,092 | = | 0.0% |
| Reserves | 13 | €136,809 | €142,809 | +€6,000 | +4.4% |
| Non-distributable reserves | 130/1 | €8,809 | €8,809 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,809 | €8,809 | = | 0.0% |
| Distributable reserves | 133 | €128,000 | €134,000 | +€6,000 | +4.7% |
| Profit (loss) carried forward | 14 | €47,728 | €48,638 | +€909 | +1.9% |
| Amounts payable | 17/49 | €6,376 | €15,147 | +€8,771 | +138% |
| Amounts payable within one year | 42/48 | €6,376 | €15,147 | +€8,771 | +138% |
| Trade debts | 44 | €2,263 | €12,758 | +€10,495 | +464% |
| Suppliers | 440/4 | €2,263 | €12,758 | +€10,495 | +464% |
| Taxes, remuneration and social security | 45 | - | €234 | +€234 | |
| Taxes | 450/3 | - | €234 | +€234 | |
| Other amounts payable | 47/48 | €4,113 | €2,156 | -€1,958 | -47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €1,496 | +€496 | +49.6% |
| Other operating charges | 640/8 | €3,122 | €3,187 | +€65 | +2.1% |
| Gross operating margin | 9900 | €9,369 | €14,247 | +€4,878 | +52.1% |
| Operating profit (loss) | 9901 | €5,246 | €9,564 | +€4,317 | +82.3% |
| Financial income | 75/76B | €2,722 | €811 | -€1,911 | -70.2% |
| Recurring financial income | 75 | €2,722 | €811 | -€1,911 | -70.2% |
| Financial charges | 65/66B | €234 | €224 | -€10 | -4.4% |
| Recurring financial charges | 65 | €234 | €224 | -€10 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €7,734 | €10,151 | +€2,417 | +31.2% |
| Income taxes | 67/77 | €2,200 | €3,242 | +€1,041 | +47.3% |
| Profit (loss) for the period | 9904 | €5,534 | €6,909 | +€1,375 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,534 | €6,909 | +€1,375 | +24.9% |
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.