AD-apt: 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-apt
Largest movements
- Tangible fixed assets +€63,927
up €63,927 (+4400.9%), from €1,453 to €65,380
of which Furniture and vehicles: +€62,645
- Cash -€20,671
down €20,671 (-37.1%), from €55,678 to €35,008
mainly Investment in fixed assets (net) (-€74,190) and Tax, wage and social debts (-€1,186)
- Receivables within one year -€4,793
down €4,793 (-59.7%), from €8,033 to €3,241
of which Trade receivables: -€7,832
- Profit (loss) carried forward +€23,481
up €23,481, from -€23,481 to €0
- Other debts +€11,784
up €11,784 (+64.4%), from €18,311 to €30,095
- Reserves +€4,597
up €4,597 (+8.3%), from €55,072 to €59,669
- Tax, wage and social debts -€1,186
down €1,186 (-89.5%), from €1,325 to €140
- Gross operating margin +€23,928
up €23,928 (+141.0%), from €16,974 to €40,901
- Depreciation +€9,779
up €9,779 (+2019.6%), from €484 to €10,263
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 | €66,044 | €104,425 | +€38,381 | +58.1% |
| Fixed assets | 21/28 | €1,453 | €65,380 | +€63,927 | +4400.9% |
| Tangible fixed assets | 22/27 | €1,453 | €65,380 | +€63,927 | +4400.9% |
| Plant, machinery and equipment | 23 | - | €1,767 | +€1,767 | |
| Furniture and vehicles | 24 | - | €62,645 | +€62,645 | |
| Other tangible fixed assets | 26 | €1,453 | €968 | -€484 | -33.3% |
| Current assets | 29/58 | €64,592 | €39,046 | -€25,546 | -39.5% |
| Amounts receivable within one year | 40/41 | €8,033 | €3,241 | -€4,793 | -59.7% |
| Trade receivables | 40 | €7,832 | €0 | -€7,832 | -100.0% |
| Other amounts receivable | 41 | €201 | €3,241 | +€3,040 | +1513.1% |
| Cash at bank and in hand | 54/58 | €55,678 | €35,008 | -€20,671 | -37.1% |
| Deferred charges and accrued income | 490/1 | €880 | €797 | -€83 | -9.4% |
| Total equity and liabilities | 10/49 | €66,044 | €104,425 | +€38,381 | +58.1% |
| Equity | 10/15 | €43,991 | €72,069 | +€28,078 | +63.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €55,072 | €59,669 | +€4,597 | +8.3% |
| Distributable reserves | 133 | €55,072 | €59,669 | +€4,597 | +8.3% |
| Profit (loss) carried forward | 14 | -€23,481 | €0 | +€23,481 | |
| Amounts payable | 17/49 | €22,054 | €32,357 | +€10,303 | +46.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €20,526 | €30,528 | +€10,002 | +48.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €890 | €294 | -€596 | -67.0% |
| Suppliers | 440/4 | €890 | €294 | -€596 | -67.0% |
| Taxes, remuneration and social security | 45 | €1,325 | €140 | -€1,186 | -89.5% |
| Taxes | 450/3 | €1,325 | €140 | -€1,186 | -89.5% |
| Other amounts payable | 47/48 | €18,311 | €30,095 | +€11,784 | +64.4% |
| Accrued charges and deferred income | 492/3 | €1,528 | €1,829 | +€301 | +19.7% |
| Non-recurring operating income | 76A | - | €6,500 | +€6,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €484 | €10,263 | +€9,779 | +2019.6% |
| Other operating charges | 640/8 | €1,064 | €740 | -€323 | -30.4% |
| Gross operating margin | 9900 | €16,974 | €40,901 | +€23,928 | +141.0% |
| Operating profit (loss) | 9901 | €15,426 | €29,898 | +€14,472 | +93.8% |
| Financial income | 75/76B | €208 | €383 | +€175 | +84.3% |
| Recurring financial income | 75 | €208 | €383 | +€175 | +84.3% |
| Financial charges | 65/66B | €1,772 | €1,899 | +€127 | +7.2% |
| Recurring financial charges | 65 | €1,772 | €1,899 | +€127 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €13,862 | €28,381 | +€14,520 | +104.7% |
| Income taxes | 67/77 | €299 | €304 | +€5 | +1.5% |
| Profit (loss) for the period | 9904 | €13,563 | €28,078 | +€14,515 | +107.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,563 | €28,078 | +€14,515 | +107.0% |
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 30 September 2026 via checked.be.