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 -€4,757
down €4,757 (-46.6%), from €10,214 to €5,457
mainly Debts after one year (-€4,470) and Trade debts (-€3,661)
- Deferred charges and accrued income -€3,399
down €3,399 (-32.0%), from €10,610 to €7,211
- Receivables within one year +€2,233
up €2,233 (+37.8%), from €5,901 to €8,134
of which Trade receivables: +€1,908
- Tangible fixed assets -€1,938
down €1,938 (-29.0%), from €6,692 to €4,754
of which Other tangible fixed assets: -€2,282
- Debts after one year -€4,470
down €4,470 (-34.6%), from €12,906 to €8,436
- Trade debts -€3,661
down €3,661 (-78.6%), from €4,659 to €998
- Profit (loss) carried forward +€759
up €759 (+4.0%), from -€19,123 to -€18,364
- Tax, wage and social debts -€578
down €578 (-14.7%), from €3,938 to €3,360
- Gross operating margin -€2,371
down €2,371 (-18.7%), from €12,674 to €10,303
- Other operating charges +€854
up €854 (+49.4%), from €1,730 to €2,584
- Taxes +€688
up €688 (+29.6%), from €2,323 to €3,011
- Staff costs -€418
no longer reported in 2025 (was €418)
- Depreciation -€291
down €291 (-8.3%), from €3,488 to €3,197
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 | €33,417 | €25,556 | -€7,861 | -23.5% |
| Fixed assets | 21/28 | €6,692 | €4,754 | -€1,938 | -29.0% |
| Tangible fixed assets | 22/27 | €6,692 | €4,754 | -€1,938 | -29.0% |
| Furniture and vehicles | 24 | €1,061 | €1,405 | +€344 | +32.4% |
| Other tangible fixed assets | 26 | €5,631 | €3,349 | -€2,282 | -40.5% |
| Current assets | 29/58 | €26,725 | €20,802 | -€5,923 | -22.2% |
| Amounts receivable within one year | 40/41 | €5,901 | €8,134 | +€2,233 | +37.8% |
| Trade receivables | 40 | €2,202 | €4,110 | +€1,908 | +86.6% |
| Other amounts receivable | 41 | €3,699 | €4,024 | +€325 | +8.8% |
| Cash at bank and in hand | 54/58 | €10,214 | €5,457 | -€4,757 | -46.6% |
| Deferred charges and accrued income | 490/1 | €10,610 | €7,211 | -€3,399 | -32.0% |
| Total equity and liabilities | 10/49 | €33,417 | €25,556 | -€7,861 | -23.5% |
| Equity | 10/15 | €7,014 | €7,773 | +€759 | +10.8% |
| Contributions | 10/11 | €10,700 | €10,700 | = | 0.0% |
| Reserves | 13 | €15,437 | €15,437 | = | 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% |
| Distributable reserves | 133 | €13,577 | €13,577 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,123 | -€18,364 | +€759 | +4.0% |
| Amounts payable | 17/49 | €26,403 | €17,783 | -€8,620 | -32.6% |
| Amounts payable after more than one year | 17 | €12,906 | €8,436 | -€4,470 | -34.6% |
| Financial debts | 170/4 | €12,906 | €8,436 | -€4,470 | -34.6% |
| Amounts payable within one year | 42/48 | €13,497 | €9,347 | -€4,150 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €4,900 | €4,989 | +€89 | +1.8% |
| Trade debts | 44 | €4,659 | €998 | -€3,661 | -78.6% |
| Suppliers | 440/4 | €4,659 | €998 | -€3,661 | -78.6% |
| Taxes, remuneration and social security | 45 | €3,938 | €3,360 | -€578 | -14.7% |
| Taxes | 450/3 | €3,938 | €3,360 | -€578 | -14.7% |
| Remuneration, social security and pensions | 62 | €418 | - | -€418 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,488 | €3,197 | -€291 | -8.3% |
| Other operating charges | 640/8 | €1,730 | €2,584 | +€854 | +49.4% |
| Gross operating margin | 9900 | €12,674 | €10,303 | -€2,371 | -18.7% |
| Operating profit (loss) | 9901 | €7,038 | €4,522 | -€2,516 | -35.7% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €731 | €752 | +€21 | +2.9% |
| Recurring financial charges | 65 | €731 | €689 | -€42 | -5.7% |
| Non-recurring financial charges | 66B | - | €63 | +€63 | |
| Profit (loss) for the period before taxes | 9903 | €6,314 | €3,770 | -€2,544 | -40.3% |
| Income taxes | 67/77 | €2,323 | €3,011 | +€688 | +29.6% |
| Profit (loss) for the period | 9904 | €3,991 | €759 | -€3,232 | -81.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,991 | €759 | -€3,232 | -81.0% |
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 5 October 2026 via checked.be.