AADR: 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.
AADR
Largest movements
- Tangible fixed assets -€16,833
down €16,833 (-97.9%), from €17,202 to €369
- Receivables within one year +€13,325
up €13,325 (+156.2%), from €8,533 to €21,859
of which Trade receivables: +€9,740
- Cash +€6,785
up €6,785 (+13.1%), from €51,900 to €58,685
mainly Depreciation (+€21,433) and Net result for the year (+€17,271)
- Intangible fixed assets -€4,600
down €4,600 (-33.1%), from €13,901 to €9,301
- Other debts -€23,457
down €23,457 (-94.4%), from €24,843 to €1,387
- Reserves +€17,271
up €17,271 (+33.5%), from €51,572 to €68,843
- Trade debts +€2,453
up €2,453 (+46.1%), from €5,324 to €7,777
- Tax, wage and social debts +€1,430
up €1,430 (+16.9%), from €8,467 to €9,897
- Gross operating margin -€13,113
down €13,113 (-21.6%), from €60,688 to €47,574
- Taxes -€4,834
down €4,834 (-43.2%), from €11,196 to €6,362
- Financial income -€790
down €790 (-96.1%), from €822 to €32
- Financial charges +€668
up €668 (+69.4%), from €962 to €1,629
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 | €92,338 | €91,140 | -€1,198 | -1.3% |
| Fixed assets | 21/28 | €31,420 | €10,112 | -€21,308 | -67.8% |
| Intangible fixed assets | 21 | €13,901 | €9,301 | -€4,600 | -33.1% |
| Tangible fixed assets | 22/27 | €17,202 | €369 | -€16,833 | -97.9% |
| Furniture and vehicles | 24 | €17,202 | €369 | -€16,833 | -97.9% |
| Financial fixed assets | 28 | €317 | €442 | +€125 | +39.5% |
| Current assets | 29/58 | €60,918 | €81,028 | +€20,110 | +33.0% |
| Amounts receivable within one year | 40/41 | €8,533 | €21,859 | +€13,325 | +156.2% |
| Trade receivables | 40 | €8,135 | €17,875 | +€9,740 | +119.7% |
| Other amounts receivable | 41 | €398 | €3,984 | +€3,586 | +900.7% |
| Cash at bank and in hand | 54/58 | €51,900 | €58,685 | +€6,785 | +13.1% |
| Deferred charges and accrued income | 490/1 | €485 | €485 | = | 0.0% |
| Total equity and liabilities | 10/49 | €92,338 | €91,140 | -€1,198 | -1.3% |
| Equity | 10/15 | €53,572 | €70,843 | +€17,271 | +32.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €51,572 | €68,843 | +€17,271 | +33.5% |
| Distributable reserves | 133 | €51,572 | €68,843 | +€17,271 | +33.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,766 | €20,297 | -€18,469 | -47.6% |
| Amounts payable within one year | 42/48 | €38,766 | €19,399 | -€19,367 | -50.0% |
| Financial debts | 43 | €131 | €338 | +€207 | +157.9% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €131 | €338 | +€207 | +157.9% |
| Trade debts | 44 | €5,324 | €7,777 | +€2,453 | +46.1% |
| Suppliers | 440/4 | €5,324 | €7,777 | +€2,453 | +46.1% |
| Taxes, remuneration and social security | 45 | €8,467 | €9,897 | +€1,430 | +16.9% |
| Taxes | 450/3 | €8,467 | €9,897 | +€1,430 | +16.9% |
| Other amounts payable | 47/48 | €24,843 | €1,387 | -€23,457 | -94.4% |
| Accrued charges and deferred income | 492/3 | - | €898 | +€898 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,433 | €21,433 | -€0 | 0.0% |
| Other operating charges | 640/8 | €635 | €911 | +€276 | +43.5% |
| Gross operating margin | 9900 | €60,688 | €47,574 | -€13,113 | -21.6% |
| Operating profit (loss) | 9901 | €38,620 | €25,230 | -€13,389 | -34.7% |
| Financial income | 75/76B | €822 | €32 | -€790 | -96.1% |
| Recurring financial income | 75 | €822 | €32 | -€790 | -96.1% |
| Financial charges | 65/66B | €962 | €1,629 | +€668 | +69.4% |
| Recurring financial charges | 65 | €962 | €1,629 | +€668 | +69.4% |
| Profit (loss) for the period before taxes | 9903 | €38,480 | €23,633 | -€14,847 | -38.6% |
| Income taxes | 67/77 | €11,196 | €6,362 | -€4,834 | -43.2% |
| Profit (loss) for the period | 9904 | €27,284 | €17,271 | -€10,012 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,284 | €17,271 | -€10,012 | -36.7% |
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 8 October 2026 via checked.be.