A & D II: 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 II
Largest movements
- Cash +€44,322
up €44,322 (+55.4%), from €80,015 to €124,337
mainly Net result for the year (+€47,052) and Current investments (+€40,888)
- Current investments -€40,888
down €40,888 (-100%), from €40,888 to €0
- Tangible fixed assets +€28,650
up €28,650 (+32.1%), from €89,314 to €117,965
of which Land and buildings: +€28,718
- Receivables within one year +€23,683
up €23,683 (+386%), from €6,135 to €29,818
of which Other amounts receivable: +€13,404
- Profit (loss) carried forward +€47,052
up €47,052, from €0 to €47,052
- Tax, wage and social debts +€5,125
up €5,125 (+179%), from €2,865 to €7,990
- Trade debts +€3,161
up €3,161 (+17.7%), from €17,861 to €21,022
- Depreciation +€18,175
up €18,175 (+3,965%), from €458 to €18,633
- Taxes -€8,928
down €8,928 (-33.6%), from €26,602 to €17,674
- Gross operating margin +€4,729
up €4,729 (+4.0%), from €117,288 to €122,017
- Other operating charges +€3,278
up €3,278 (+20.2%), from €16,222 to €19,500
- Write-downs +€1,785
new in 2025: €1,785
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 | €219,773 | €277,869 | +€58,096 | +26.4% |
| Fixed assets | 21/28 | €89,314 | €117,965 | +€28,650 | +32.1% |
| Tangible fixed assets | 22/27 | €89,314 | €117,965 | +€28,650 | +32.1% |
| Land and buildings | 22 | €89,247 | €117,965 | +€28,718 | +32.2% |
| Plant, machinery and equipment | 23 | €68 | €0 | -€68 | -100% |
| Current assets | 29/58 | €130,458 | €159,905 | +€29,446 | +22.6% |
| Amounts receivable within one year | 40/41 | €6,135 | €29,818 | +€23,683 | +386% |
| Trade receivables | 40 | €3,271 | €13,549 | +€10,278 | +314% |
| Other amounts receivable | 41 | €2,864 | €16,268 | +€13,404 | +468% |
| Current investments | 50/53 | €40,888 | €0 | -€40,888 | -100% |
| Cash at bank and in hand | 54/58 | €80,015 | €124,337 | +€44,322 | +55.4% |
| Deferred charges and accrued income | 490/1 | €3,420 | €5,750 | +€2,330 | +68.1% |
| Total equity and liabilities | 10/49 | €219,773 | €277,869 | +€58,096 | +26.4% |
| Equity | 10/15 | €97,372 | €144,424 | +€47,052 | +48.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €35,372 | €35,372 | = | 0.0% |
| Non-distributable reserves | 130/1 | €34,750 | €34,750 | = | 0.0% |
| Legal reserve | 130 | €34,750 | €34,750 | = | 0.0% |
| Distributable reserves | 133 | €622 | €622 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €47,052 | +€47,052 | |
| Amounts payable | 17/49 | €122,400 | €133,445 | +€11,044 | +9.0% |
| Amounts payable within one year | 42/48 | €111,070 | €120,418 | +€9,348 | +8.4% |
| Financial debts | 43 | €344 | €0 | -€344 | -100% |
| Credit institutions | 430/8 | €344 | €0 | -€344 | -100% |
| Trade debts | 44 | €17,861 | €21,022 | +€3,161 | +17.7% |
| Suppliers | 440/4 | €17,861 | €21,022 | +€3,161 | +17.7% |
| Taxes, remuneration and social security | 45 | €2,865 | €7,990 | +€5,125 | +179% |
| Taxes | 450/3 | €2,865 | €7,990 | +€5,125 | +179% |
| Other amounts payable | 47/48 | €90,000 | €91,406 | +€1,406 | +1.6% |
| Accrued charges and deferred income | 492/3 | €11,331 | €13,027 | +€1,696 | +15.0% |
| Non-recurring operating income | 76A | - | €4,525 | +€4,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €458 | €18,633 | +€18,175 | +3,965% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,785 | +€1,785 | |
| Other operating charges | 640/8 | €16,222 | €19,500 | +€3,278 | +20.2% |
| Non-recurring operating charges | 66A | €600 | €16,076 | +€15,476 | +2,579% |
| Gross operating margin | 9900 | €117,288 | €122,017 | +€4,729 | +4.0% |
| Operating profit (loss) | 9901 | €100,007 | €66,023 | -€33,984 | -34.0% |
| Financial income | 75/76B | €82 | €245 | +€164 | +201% |
| Recurring financial income | 75 | €82 | €245 | +€164 | +201% |
| Financial charges | 65/66B | €266 | €1,543 | +€1,277 | +480% |
| Recurring financial charges | 65 | €266 | €1,543 | +€1,277 | +480% |
| Profit (loss) for the period before taxes | 9903 | €99,823 | €64,726 | -€35,097 | -35.2% |
| Income taxes | 67/77 | €26,602 | €17,674 | -€8,928 | -33.6% |
| Profit (loss) for the period | 9904 | €73,221 | €47,052 | -€26,169 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,221 | €47,052 | -€26,169 | -35.7% |
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 14 October 2026 via checked.be.