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
- Cash +€23,561
up €23,561 (+32.9%), from €71,573 to €95,135
mainly Net result for the year (+€37,278) and Depreciation (+€9,097)
- Tangible fixed assets +€4,010
up €4,010 (+10.3%), from €38,749 to €42,759
of which Furniture and vehicles: +€8,126
- Receivables within one year +€3,777
up €3,777 (+28.9%), from €13,087 to €16,864
of which Other amounts receivable: +€6,515
- Deferred charges and accrued income +€1,896
up €1,896 (+597.2%), from €317 to €2,213
- Reserves +€37,278
up €37,278 (+54.5%), from €68,419 to €105,697
- Other debts -€5,287
down €5,287 (-19.2%), from €27,582 to €22,295
- Tax, wage and social debts +€1,662
up €1,662 (+30.9%), from €5,387 to €7,050
of which Taxes: +€1,662
- Gross operating margin +€10,449
up €10,449 (+21.1%), from €49,590 to €60,039
- Financial charges +€3,586
up €3,586 (+1964.9%), from €183 to €3,769
- Depreciation +€1,948
up €1,948 (+27.2%), from €7,150 to €9,097
- Taxes +€1,369
up €1,369 (+14.2%), from €9,638 to €11,007
- Financial income +€1,111
up €1,111 (+200.5%), from €554 to €1,666
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 | €123,727 | €156,970 | +€33,244 | +26.9% |
| Fixed assets | 21/28 | €38,749 | €42,759 | +€4,010 | +10.3% |
| Tangible fixed assets | 22/27 | €38,749 | €42,759 | +€4,010 | +10.3% |
| Plant, machinery and equipment | 23 | €2,070 | €1,460 | -€610 | -29.5% |
| Furniture and vehicles | 24 | €9,310 | €17,437 | +€8,126 | +87.3% |
| Other tangible fixed assets | 26 | €27,369 | €23,862 | -€3,507 | -12.8% |
| Current assets | 29/58 | €84,977 | €114,212 | +€29,234 | +34.4% |
| Amounts receivable within one year | 40/41 | €13,087 | €16,864 | +€3,777 | +28.9% |
| Trade receivables | 40 | €10,195 | €7,457 | -€2,738 | -26.9% |
| Other amounts receivable | 41 | €2,892 | €9,407 | +€6,515 | +225.3% |
| Cash at bank and in hand | 54/58 | €71,573 | €95,135 | +€23,561 | +32.9% |
| Deferred charges and accrued income | 490/1 | €317 | €2,213 | +€1,896 | +597.2% |
| Total equity and liabilities | 10/49 | €123,727 | €156,970 | +€33,244 | +26.9% |
| Equity | 10/15 | €73,419 | €110,697 | +€37,278 | +50.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €68,419 | €105,697 | +€37,278 | +54.5% |
| Distributable reserves | 133 | €68,419 | €105,697 | +€37,278 | +54.5% |
| Amounts payable | 17/49 | €50,307 | €46,273 | -€4,034 | -8.0% |
| Amounts payable within one year | 42/48 | €49,307 | €45,792 | -€3,515 | -7.1% |
| Trade debts | 44 | €16,338 | €16,447 | +€109 | +0.7% |
| Suppliers | 440/4 | €16,338 | €16,447 | +€109 | +0.7% |
| Taxes, remuneration and social security | 45 | €5,387 | €7,050 | +€1,662 | +30.9% |
| Taxes | 450/3 | €2,062 | €3,725 | +€1,662 | +80.6% |
| Remuneration and social security | 454/9 | €3,325 | €3,325 | = | 0.0% |
| Other amounts payable | 47/48 | €27,582 | €22,295 | -€5,287 | -19.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | €481 | -€519 | -51.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,150 | €9,097 | +€1,948 | +27.2% |
| Other operating charges | 640/8 | €528 | €554 | +€25 | +4.8% |
| Gross operating margin | 9900 | €49,590 | €60,039 | +€10,449 | +21.1% |
| Operating profit (loss) | 9901 | €41,912 | €50,388 | +€8,476 | +20.2% |
| Financial income | 75/76B | €554 | €1,666 | +€1,111 | +200.5% |
| Recurring financial income | 75 | €554 | €1,666 | +€1,111 | +200.5% |
| Financial charges | 65/66B | €183 | €3,769 | +€3,586 | +1964.9% |
| Recurring financial charges | 65 | €183 | €3,769 | +€3,586 | +1964.9% |
| Profit (loss) for the period before taxes | 9903 | €42,284 | €48,285 | +€6,001 | +14.2% |
| Income taxes | 67/77 | €9,638 | €11,007 | +€1,369 | +14.2% |
| Profit (loss) for the period | 9904 | €32,646 | €37,278 | +€4,632 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,646 | €37,278 | +€4,632 | +14.2% |
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 4 October 2026 via checked.be.