A & D GROUP: 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.
A & D GROUP
Largest movements
- Tangible fixed assets -€59,416
down €59,416 (-32.3%), from €184,233 to €124,817
of which Furniture and vehicles: -€59,416
- Receivables within one year -€27,000
down €27,000 (-15.4%), from €175,187 to €148,187
- Stocks and contracts -€25,000
down €25,000 (-80.9%), from €30,891 to €5,891
- Debts after one year -€82,118
down €82,118 (-41.0%), from €200,293 to €118,176
- Other debts +€49,390
up €49,390 (+21.7%), from €227,151 to €276,541
- Reserves -€38,075
down €38,075 (-11.4%), from €332,921 to €294,846
of which Distributable reserves: -€38,075
- Current portion of long-term debt -€30,097
down €30,097 (-26.8%), from €112,214 to €82,118
- Gross operating margin -€34,970
down €34,970 (-43.2%), from €80,905 to €45,934
- Other operating charges +€8,483
up €8,483 (+534.1%), from €1,588 to €10,071
- Taxes -€3,070
down €3,070 (-26.6%), from €11,542 to €8,472
- Financial charges -€1,590
down €1,590 (-26.8%), from €5,930 to €4,340
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 | €891,378 | €786,868 | -€104,510 | -11.7% |
| Fixed assets | 21/28 | €684,233 | €624,817 | -€59,416 | -8.7% |
| Tangible fixed assets | 22/27 | €184,233 | €124,817 | -€59,416 | -32.3% |
| Furniture and vehicles | 24 | €154,233 | €94,817 | -€59,416 | -38.5% |
| Other tangible fixed assets | 26 | €30,000 | €30,000 | = | 0.0% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €207,145 | €162,051 | -€45,094 | -21.8% |
| Stocks and contracts in progress | 3 | €30,891 | €5,891 | -€25,000 | -80.9% |
| Stocks | 30/36 | €30,891 | €5,891 | -€25,000 | -80.9% |
| Amounts receivable within one year | 40/41 | €175,187 | €148,187 | -€27,000 | -15.4% |
| Other amounts receivable | 41 | €175,187 | €148,187 | -€27,000 | -15.4% |
| Cash at bank and in hand | 54/58 | €1,068 | €5,757 | +€4,689 | +439.1% |
| Deferred charges and accrued income | 490/1 | - | €2,217 | +€2,217 | |
| Total equity and liabilities | 10/49 | €891,378 | €786,868 | -€104,510 | -11.7% |
| Equity | 10/15 | €339,121 | €301,046 | -€38,075 | -11.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €332,921 | €294,846 | -€38,075 | -11.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €331,061 | €292,986 | -€38,075 | -11.5% |
| Amounts payable | 17/49 | €552,257 | €485,822 | -€66,435 | -12.0% |
| Amounts payable after more than one year | 17 | €200,293 | €118,176 | -€82,118 | -41.0% |
| Financial debts | 170/4 | €200,293 | €118,176 | -€82,118 | -41.0% |
| Amounts payable within one year | 42/48 | €351,963 | €367,646 | +€15,683 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €112,214 | €82,118 | -€30,097 | -26.8% |
| Trade debts | 44 | €1,056 | €515 | -€541 | -51.2% |
| Suppliers | 440/4 | €1,056 | €515 | -€541 | -51.2% |
| Taxes, remuneration and social security | 45 | €11,542 | €8,472 | -€3,070 | -26.6% |
| Taxes | 450/3 | €11,542 | €8,472 | -€3,070 | -26.6% |
| Other amounts payable | 47/48 | €227,151 | €276,541 | +€49,390 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,659 | €61,127 | +€467 | +0.8% |
| Other operating charges | 640/8 | €1,588 | €10,071 | +€8,483 | +534.1% |
| Gross operating margin | 9900 | €80,905 | €45,934 | -€34,970 | -43.2% |
| Operating profit (loss) | 9901 | €18,657 | -€25,264 | -€43,921 | |
| Financial charges | 65/66B | €5,930 | €4,340 | -€1,590 | -26.8% |
| Recurring financial charges | 65 | €5,930 | €4,340 | -€1,590 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €12,728 | -€29,603 | -€42,331 | |
| Income taxes | 67/77 | €11,542 | €8,472 | -€3,070 | -26.6% |
| Profit (loss) for the period | 9904 | €1,185 | -€38,075 | -€39,261 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,185 | -€38,075 | -€39,261 |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.