A.D. SERVICES: 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. SERVICES
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+131%), from €881,547 to €2.0m
of which Land and buildings: +€1.1m
- Receivables within one year -€243,276
down €243,276 (-33.8%), from €719,174 to €475,899
of which Trade receivables: -€213,249
- Cash -€84,346
down €84,346 (-95.5%), from €88,317 to €3,971
mainly Investment in fixed assets (net) (-€1.3m) and Trade debts (-€314,416)
- Debts after one year +€1.1m
up €1.1m (+321%), from €329,762 to €1.4m
- Trade debts -€314,416
down €314,416 (-34.5%), from €911,640 to €597,224
- Current portion of long-term debt +€78,751
up €78,751 (+102%), from €76,966 to €155,718
- Short-term financial debts -€59,942
down €59,942 (-16.1%), from €372,299 to €312,357
- Profit (loss) carried forward +€58,947
up €58,947 (+16.8%), from €349,858 to €408,805
- Gross operating margin +€138,302
up €138,302 (+19.3%), from €715,758 to €854,060
- Depreciation +€74,926
up €74,926 (+67.5%), from €110,997 to €185,924
- Financial charges +€23,367
up €23,367 (+54.5%), from €42,907 to €66,274
- Staff costs +€13,348
up €13,348 (+2.7%), from €503,196 to €516,544
- Other operating charges +€11,035
up €11,035 (+137%), from €8,053 to €19,088
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 | €2,222,140 | €3,041,145 | +€819,005 | +36.9% |
| Fixed assets | 21/28 | €889,736 | €2,048,379 | +€1.2m | +130% |
| Intangible fixed assets | 21 | €6,869 | €10,940 | +€4,070 | +59.3% |
| Tangible fixed assets | 22/27 | €881,547 | €2,036,120 | +€1.2m | +131% |
| Land and buildings | 22 | €470,668 | €1,616,391 | +€1.1m | +243% |
| Plant, machinery and equipment | 23 | €39,610 | €72,896 | +€33,286 | +84.0% |
| Furniture and vehicles | 24 | €371,269 | €334,134 | -€37,135 | -10.0% |
| Leasing and similar rights | 25 | - | €12,698 | +€12,698 | |
| Financial fixed assets | 28 | €1,320 | €1,320 | = | 0.0% |
| Current assets | 29/58 | €1,332,404 | €992,766 | -€339,638 | -25.5% |
| Stocks and contracts in progress | 3 | €506,785 | €500,216 | -€6,569 | -1.3% |
| Stocks | 30/36 | €506,785 | €500,216 | -€6,569 | -1.3% |
| Amounts receivable within one year | 40/41 | €719,174 | €475,899 | -€243,276 | -33.8% |
| Trade receivables | 40 | €688,434 | €475,185 | -€213,249 | -31.0% |
| Other amounts receivable | 41 | €30,740 | €713 | -€30,027 | -97.7% |
| Cash at bank and in hand | 54/58 | €88,317 | €3,971 | -€84,346 | -95.5% |
| Deferred charges and accrued income | 490/1 | €18,128 | €12,681 | -€5,447 | -30.0% |
| Total equity and liabilities | 10/49 | €2,222,140 | €3,041,145 | +€819,005 | +36.9% |
| Equity | 10/15 | €389,068 | €448,015 | +€58,947 | +15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €349,858 | €408,805 | +€58,947 | +16.8% |
| Amounts payable | 17/49 | €1,833,073 | €2,593,130 | +€760,058 | +41.5% |
| Amounts payable after more than one year | 17 | €329,762 | €1,388,005 | +€1.1m | +321% |
| Financial debts | 170/4 | €329,762 | €1,388,005 | +€1.1m | +321% |
| Amounts payable within one year | 42/48 | €1,483,511 | €1,189,300 | -€294,210 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €76,966 | €155,718 | +€78,751 | +102% |
| Financial debts | 43 | €372,299 | €312,357 | -€59,942 | -16.1% |
| Credit institutions | 430/8 | €372,299 | €312,357 | -€59,942 | -16.1% |
| Trade debts | 44 | €911,640 | €597,224 | -€314,416 | -34.5% |
| Suppliers | 440/4 | €911,640 | €597,224 | -€314,416 | -34.5% |
| Taxes, remuneration and social security | 45 | €96,048 | €95,890 | -€158 | -0.2% |
| Taxes | 450/3 | €26,752 | €13,809 | -€12,943 | -48.4% |
| Remuneration and social security | 454/9 | €69,296 | €82,081 | +€12,785 | +18.4% |
| Other amounts payable | 47/48 | €26,557 | €28,111 | +€1,554 | +5.9% |
| Accrued charges and deferred income | 492/3 | €19,800 | €15,825 | -€3,975 | -20.1% |
| Non-recurring operating income | 76A | €29,789 | €9,514 | -€20,274 | -68.1% |
| Remuneration, social security and pensions | 62 | €503,196 | €516,544 | +€13,348 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,997 | €185,924 | +€74,926 | +67.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,397 | +€3,397 | |
| Other operating charges | 640/8 | €8,053 | €19,088 | +€11,035 | +137% |
| Non-recurring operating charges | 66A | €840 | €5,712 | +€4,872 | +580% |
| Gross operating margin | 9900 | €715,758 | €854,060 | +€138,302 | +19.3% |
| Operating profit (loss) | 9901 | €92,670 | €123,394 | +€30,724 | +33.2% |
| Financial income | 75/76B | €3,016 | €2,023 | -€993 | -32.9% |
| Recurring financial income | 75 | €3,016 | €2,023 | -€993 | -32.9% |
| Financial charges | 65/66B | €42,907 | €66,274 | +€23,367 | +54.5% |
| Recurring financial charges | 65 | €42,907 | €66,274 | +€23,367 | +54.5% |
| Profit (loss) for the period before taxes | 9903 | €52,780 | €59,144 | +€6,364 | +12.1% |
| Income taxes | 67/77 | €9,340 | €197 | -€9,144 | -97.9% |
| Profit (loss) for the period | 9904 | €43,439 | €58,947 | +€15,508 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,439 | €58,947 | +€15,508 | +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 13 October 2026 via checked.be.