.AD: 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.
.AD
Largest movements
- Tangible fixed assets -€14,090
down €14,090 (-26.3%), from €53,523 to €39,433
- Receivables within one year -€1,808
down €1,808 (-8.8%), from €20,496 to €18,689
of which Other amounts receivable: -€10,905
- Debts after one year -€14,265
down €14,265 (-57.3%), from €24,901 to €10,636
- Reserves -€7,250
down €7,250 (-22.2%), from €32,724 to €25,474
- Trade debts +€6,678
up €6,678 (+173.9%), from €3,840 to €10,518
- Profit (loss) carried forward -€1,688
down €1,688, from €314 to -€1,374
- Gross operating margin -€5,034
down €5,034 (-36.8%), from €13,669 to €8,635
- Depreciation +€2,026
up €2,026 (+16.2%), from €12,488 to €14,514
- Financial charges -€660
down €660 (-21.9%), from €3,006 to €2,347
- Other operating charges +€400
new in 2025: €400
- Taxes -€160
no longer reported in 2025 (was €160)
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 | €81,100 | €64,627 | -€16,473 | -20.3% |
| Fixed assets | 21/28 | €53,523 | €39,433 | -€14,090 | -26.3% |
| Tangible fixed assets | 22/27 | €53,523 | €39,433 | -€14,090 | -26.3% |
| Furniture and vehicles | 24 | €53,523 | €39,433 | -€14,090 | -26.3% |
| Current assets | 29/58 | €27,577 | €25,194 | -€2,383 | -8.6% |
| Amounts receivable within one year | 40/41 | €20,496 | €18,689 | -€1,808 | -8.8% |
| Trade receivables | 40 | €2,591 | €11,689 | +€9,098 | +351.1% |
| Other amounts receivable | 41 | €17,905 | €7,000 | -€10,905 | -60.9% |
| Cash at bank and in hand | 54/58 | €6,662 | €6,086 | -€577 | -8.7% |
| Deferred charges and accrued income | 490/1 | €418 | €420 | +€2 | +0.4% |
| Total equity and liabilities | 10/49 | €81,100 | €64,627 | -€16,473 | -20.3% |
| Equity | 10/15 | €35,038 | €26,100 | -€8,938 | -25.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €32,724 | €25,474 | -€7,250 | -22.2% |
| Distributable reserves | 133 | €32,724 | €25,474 | -€7,250 | -22.2% |
| Profit (loss) carried forward | 14 | €314 | -€1,374 | -€1,688 | |
| Amounts payable | 17/49 | €46,062 | €38,527 | -€7,535 | -16.4% |
| Amounts payable after more than one year | 17 | €24,901 | €10,636 | -€14,265 | -57.3% |
| Financial debts | 170/4 | €24,901 | €10,636 | -€14,265 | -57.3% |
| Amounts payable within one year | 42/48 | €21,161 | €27,892 | +€6,731 | +31.8% |
| Current portion of amounts payable after more than one year | 42 | €13,605 | €14,265 | +€660 | +4.9% |
| Trade debts | 44 | €3,840 | €10,518 | +€6,678 | +173.9% |
| Suppliers | 440/4 | €3,840 | €10,518 | +€6,678 | +173.9% |
| Taxes, remuneration and social security | 45 | €3,716 | €3,109 | -€607 | -16.3% |
| Taxes | 450/3 | €3,716 | €3,109 | -€607 | -16.3% |
| Non-recurring operating income | 76A | €347 | - | -€347 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,488 | €14,514 | +€2,026 | +16.2% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Non-recurring operating charges | 66A | - | €474 | +€474 | |
| Gross operating margin | 9900 | €13,669 | €8,635 | -€5,034 | -36.8% |
| Operating profit (loss) | 9901 | €1,181 | -€6,753 | -€7,934 | |
| Financial income | 75/76B | €88 | €161 | +€73 | +83.7% |
| Recurring financial income | 75 | €88 | €161 | +€73 | +83.7% |
| Financial charges | 65/66B | €3,006 | €2,347 | -€660 | -21.9% |
| Recurring financial charges | 65 | €3,006 | €2,347 | -€660 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,738 | -€8,938 | -€7,201 | -414.4% |
| Income taxes | 67/77 | €160 | - | -€160 | |
| Profit (loss) for the period | 9904 | -€1,898 | -€8,938 | -€7,041 | -371.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,898 | -€8,938 | -€7,041 | -371.0% |
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 9 October 2026 via checked.be.