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
- Cash -€5,520
down €5,520 (-54.9%), from €10,048 to €4,528
mainly Investment in fixed assets (net) (-€10,735) and Debts after one year (-€7,803)
- Tangible fixed assets -€1,594
down €1,594 (-3.4%), from €46,971 to €45,377
of which Plant, machinery and equipment: -€7,505
- Deferred charges and accrued income -€825
down €825 (-22.6%), from €3,649 to €2,824
- Debts after one year -€7,803
down €7,803 (-27.0%), from €28,937 to €21,135
- Tax, wage and social debts +€4,734
up €4,734 (+147.1%), from €3,219 to €7,952
- Other debts -€4,328
down €4,328 (-42.5%), from €10,188 to €5,859
- Reserves +€3,350
up €3,350 (+49.2%), from €6,806 to €10,156
- Trade debts -€3,346
down €3,346 (-94.7%), from €3,532 to €185
- Depreciation +€6,781
up €6,781 (+118.6%), from €5,715 to €12,496
- Other operating charges +€5,667
up €5,667 (+966.6%), from €586 to €6,253
- Gross operating margin +€2,879
up €2,879 (+12.1%), from €23,755 to €26,635
- Financial charges +€345
up €345 (+26.3%), from €1,311 to €1,656
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 | €70,533 | €63,090 | -€7,442 | -10.6% |
| Formation expenses | 20 | €167 | - | -€167 | |
| Fixed assets | 21/28 | €46,971 | €45,377 | -€1,594 | -3.4% |
| Tangible fixed assets | 22/27 | €46,971 | €45,377 | -€1,594 | -3.4% |
| Plant, machinery and equipment | 23 | €36,410 | €28,906 | -€7,505 | -20.6% |
| Furniture and vehicles | 24 | €10,561 | €16,471 | +€5,910 | +56.0% |
| Current assets | 29/58 | €23,395 | €17,713 | -€5,681 | -24.3% |
| Amounts receivable within one year | 40/41 | €9,698 | €10,362 | +€664 | +6.8% |
| Trade receivables | 40 | €6,843 | €6,858 | +€16 | +0.2% |
| Other amounts receivable | 41 | €2,855 | €3,504 | +€648 | +22.7% |
| Cash at bank and in hand | 54/58 | €10,048 | €4,528 | -€5,520 | -54.9% |
| Deferred charges and accrued income | 490/1 | €3,649 | €2,824 | -€825 | -22.6% |
| Total equity and liabilities | 10/49 | €70,533 | €63,090 | -€7,442 | -10.6% |
| Equity | 10/15 | €16,806 | €20,156 | +€3,350 | +19.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €6,806 | €10,156 | +€3,350 | +49.2% |
| Distributable reserves | 133 | €6,806 | €10,156 | +€3,350 | +49.2% |
| Amounts payable | 17/49 | €53,727 | €42,934 | -€10,792 | -20.1% |
| Amounts payable after more than one year | 17 | €28,937 | €21,135 | -€7,803 | -27.0% |
| Financial debts | 170/4 | €28,937 | €21,135 | -€7,803 | -27.0% |
| Amounts payable within one year | 42/48 | €24,393 | €21,800 | -€2,594 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €7,455 | €7,803 | +€347 | +4.7% |
| Trade debts | 44 | €3,532 | €185 | -€3,346 | -94.7% |
| Suppliers | 440/4 | €3,532 | €185 | -€3,346 | -94.7% |
| Taxes, remuneration and social security | 45 | €3,219 | €7,952 | +€4,734 | +147.1% |
| Taxes | 450/3 | €3,219 | €7,952 | +€4,734 | +147.1% |
| Other amounts payable | 47/48 | €10,188 | €5,859 | -€4,328 | -42.5% |
| Accrued charges and deferred income | 492/3 | €396 | - | -€396 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,715 | €12,496 | +€6,781 | +118.6% |
| Other operating charges | 640/8 | €586 | €6,253 | +€5,667 | +966.6% |
| Gross operating margin | 9900 | €23,755 | €26,635 | +€2,879 | +12.1% |
| Operating profit (loss) | 9901 | €17,454 | €7,885 | -€9,569 | -54.8% |
| Financial income | 75/76B | €0 | €10 | +€10 | +100000.0% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +100000.0% |
| Financial charges | 65/66B | €1,311 | €1,656 | +€345 | +26.3% |
| Recurring financial charges | 65 | €1,311 | €1,656 | +€345 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €16,143 | €6,239 | -€9,904 | -61.3% |
| Income taxes | 67/77 | €2,734 | €2,890 | +€156 | +5.7% |
| Profit (loss) for the period | 9904 | €13,409 | €3,350 | -€10,060 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,409 | €3,350 | -€10,060 | -75.0% |
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 30 September 2026 via checked.be.