A.D Min: 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 Min
Largest movements
- Stocks and contracts -€84,648
no longer reported in 2025 (was €84,648)
- Tangible fixed assets -€10,528
down €10,528 (-13.8%), from €76,516 to €65,988
- Receivables within one year +€10,365
new in 2025: €10,365
- Deferred charges and accrued income -€7,952
no longer reported in 2025 (was €7,952)
- Cash -€6,763
down €6,763 (-39.9%), from €16,963 to €10,200
mainly Debts after one year (-€54,134) and Net result for the year (-€28,809)
- Debts after one year -€54,134
down €54,134 (-51.9%), from €104,380 to €50,246
of which Other amounts payable: -€45,000
- Profit (loss) carried forward -€28,809
down €28,809 (-87.6%), from -€32,882 to -€61,691
- Trade debts -€14,830
down €14,830 (-95.9%), from €15,461 to €631
- Tax, wage and social debts -€3,265
no longer reported in 2025 (was €3,265)
of which Taxes: -€2,568
- Gross operating margin -€21,743
down €21,743 (-91.5%), from €23,755 to €2,012
- Depreciation -€3,244
down €3,244 (-23.6%), from €13,772 to €10,528
- Staff costs +€1,715
up €1,715 (+13.3%), from €12,858 to €14,573
- Financial charges +€1,191
up €1,191 (+48.0%), from €2,480 to €3,672
- Financial income +€317
up €317 (+959.3%), from €33 to €350
From the 31-01-2025 result to the 31-12-2025 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 31-01-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-01-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €186,174 | €86,558 | -€99,616 | -53.5% |
| Fixed assets | 21/28 | €76,516 | €65,988 | -€10,528 | -13.8% |
| Tangible fixed assets | 22/27 | €76,516 | €65,988 | -€10,528 | -13.8% |
| Land and buildings | 22 | €76,516 | €65,988 | -€10,528 | -13.8% |
| Current assets | 29/58 | €109,658 | €20,570 | -€89,088 | -81.2% |
| Stocks and contracts in progress | 3 | €84,648 | - | -€84,648 | |
| Stocks | 30/36 | €84,648 | - | -€84,648 | |
| Amounts receivable within one year | 40/41 | - | €10,365 | +€10,365 | |
| Other amounts receivable | 41 | - | €10,365 | +€10,365 | |
| Current investments | 50/53 | €95 | €5 | -€90 | -95.1% |
| Cash at bank and in hand | 54/58 | €16,963 | €10,200 | -€6,763 | -39.9% |
| Deferred charges and accrued income | 490/1 | €7,952 | - | -€7,952 | |
| Total equity and liabilities | 10/49 | €186,174 | €86,558 | -€99,616 | -53.5% |
| Equity | 10/15 | €49,027 | €20,218 | -€28,809 | -58.8% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €1,909 | €1,909 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,909 | €1,909 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,909 | €1,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,882 | -€61,691 | -€28,809 | -87.6% |
| Amounts payable | 17/49 | €137,147 | €66,341 | -€70,806 | -51.6% |
| Amounts payable after more than one year | 17 | €104,380 | €50,246 | -€54,134 | -51.9% |
| Financial debts | 170/4 | €59,380 | €50,246 | -€9,134 | -15.4% |
| Other amounts payable | 178/9 | €45,000 | - | -€45,000 | |
| Amounts payable within one year | 42/48 | €32,767 | €16,095 | -€16,672 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €9,882 | €9,961 | +€79 | +0.8% |
| Trade debts | 44 | €15,461 | €631 | -€14,830 | -95.9% |
| Suppliers | 440/4 | €15,461 | €631 | -€14,830 | -95.9% |
| Advances received on contracts in progress | 46 | €51 | - | -€51 | |
| Taxes, remuneration and social security | 45 | €3,265 | - | -€3,265 | |
| Taxes | 450/3 | €2,568 | - | -€2,568 | |
| Remuneration and social security | 454/9 | €698 | - | -€698 | |
| Other amounts payable | 47/48 | €4,107 | €5,503 | +€1,396 | +34.0% |
| Remuneration, social security and pensions | 62 | €12,858 | €14,573 | +€1,715 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,772 | €10,528 | -€3,244 | -23.6% |
| Other operating charges | 640/8 | €2,423 | €2,398 | -€25 | -1.0% |
| Gross operating margin | 9900 | €23,755 | €2,012 | -€21,743 | -91.5% |
| Operating profit (loss) | 9901 | -€5,299 | -€25,487 | -€20,189 | -381.0% |
| Financial income | 75/76B | €33 | €350 | +€317 | +959.3% |
| Recurring financial income | 75 | €33 | €350 | +€317 | +959.3% |
| Financial charges | 65/66B | €2,480 | €3,672 | +€1,191 | +48.0% |
| Recurring financial charges | 65 | €2,480 | €3,672 | +€1,191 | +48.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,746 | -€28,809 | -€21,063 | -271.9% |
| Profit (loss) for the period | 9904 | -€7,746 | -€28,809 | -€21,063 | -271.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,746 | -€28,809 | -€21,063 | -271.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.