AD AREND: what changed
Two financial 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 AREND
Largest movements
- Intangible fixed assets +€723,368
new in 2025: €723,368
- Stocks and contracts +€565,568
new in 2025: €565,568
- Receivables within one year +€191,618
up €191,618 (+4,476%), from €4,281 to €195,898
of which Other amounts receivable: +€130,546
- Cash +€157,987
up €157,987 (+508%), from €31,086 to €189,073
mainly Trade debts (+€1.1m) and Debts after one year (+€498,738)
- Tangible fixed assets +€53,765
new in 2025: €53,765
- Trade debts +€1.1m
up €1.1m (+145,636%), from €772 to €1.1m
- Debts after one year +€498,738
new in 2025: €498,738
- Profit (loss) carried forward +€107,090
up €107,090 (+3.0%), from -€3.6m to -€3.5m
- Other debts -€72,189
down €72,189 (-99.9%), from €72,284 to €95
- Tax, wage and social debts +€39,280
up €39,280 (+3,988%), from €985 to €40,265
of which Remuneration and social security: +€39,157
- Gross operating margin +€343,745
up €343,745 (+373%), from €92,267 to €436,012
- Staff costs +€152,596
up €152,596 (+166%), from €91,999 to €244,596
- Depreciation +€68,207
new in 2025: €68,207
- Financial charges -€17,911
down €17,911 (-54.8%), from €32,703 to €14,793
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.
Derived cash bridge
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 | €37,621 | €1,744,360 | +€1.7m | +4,537% |
| Fixed assets | 21/28 | - | €777,948 | +€777,948 | |
| Intangible fixed assets | 21 | - | €723,368 | +€723,368 | |
| Tangible fixed assets | 22/27 | - | €53,765 | +€53,765 | |
| Plant, machinery and equipment | 23 | - | €53,765 | +€53,765 | |
| Financial fixed assets | 28 | - | €815 | +€815 | |
| Current assets | 29/58 | €37,621 | €966,412 | +€928,791 | +2,469% |
| Stocks and contracts in progress | 3 | - | €565,568 | +€565,568 | |
| Stocks | 30/36 | - | €565,568 | +€565,568 | |
| Amounts receivable within one year | 40/41 | €4,281 | €195,898 | +€191,618 | +4,476% |
| Trade receivables | 40 | €2,685 | €63,756 | +€61,071 | +2,274% |
| Other amounts receivable | 41 | €1,596 | €132,142 | +€130,546 | +8,182% |
| Current investments | 50/53 | €29 | €0 | -€29 | -100% |
| Cash at bank and in hand | 54/58 | €31,086 | €189,073 | +€157,987 | +508% |
| Deferred charges and accrued income | 490/1 | €2,225 | €15,873 | +€13,647 | +613% |
| Total equity and liabilities | 10/49 | €37,621 | €1,744,360 | +€1.7m | +4,537% |
| Equity | 10/15 | -€37,624 | €69,466 | +€107,090 | |
| Contributions | 10/11 | €3,581,096 | €3,581,096 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,618,720 | -€3,511,630 | +€107,090 | +3.0% |
| Amounts payable | 17/49 | €75,244 | €1,674,894 | +€1.6m | +2,126% |
| Amounts payable after more than one year | 17 | - | €498,738 | +€498,738 | |
| Trade debts | 175 | - | €498,738 | +€498,738 | |
| Amounts payable within one year | 42/48 | €75,244 | €1,176,156 | +€1.1m | +1,463% |
| Financial debts | 43 | - | €10,857 | +€10,857 | |
| Credit institutions | 430/8 | - | €10,857 | +€10,857 | |
| Trade debts | 44 | €772 | €1,124,939 | +€1.1m | +145,636% |
| Suppliers | 440/4 | €772 | €1,124,939 | +€1.1m | +145,636% |
| Advances received on contracts in progress | 46 | €1,204 | €0 | -€1,204 | -100% |
| Taxes, remuneration and social security | 45 | €985 | €40,265 | +€39,280 | +3,988% |
| Taxes | 450/3 | €140 | €262 | +€123 | +87.6% |
| Remuneration and social security | 454/9 | €845 | €40,002 | +€39,157 | +4,634% |
| Other amounts payable | 47/48 | €72,284 | €95 | -€72,189 | -99.9% |
| Non-recurring operating income | 76A | €5,460 | €0 | -€5,460 | -100% |
| Remuneration, social security and pensions | 62 | €91,999 | €244,596 | +€152,596 | +166% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €68,207 | +€68,207 | |
| Other operating charges | 640/8 | €786 | €1,568 | +€782 | +99.4% |
| Gross operating margin | 9900 | €92,267 | €436,012 | +€343,745 | +373% |
| Operating profit (loss) | 9901 | -€518 | €121,641 | +€122,160 | |
| Financial income | 75/76B | €1 | €241 | +€240 | +29,631% |
| Recurring financial income | 75 | €1 | €241 | +€240 | +29,631% |
| Financial charges | 65/66B | €32,703 | €14,793 | -€17,911 | -54.8% |
| Recurring financial charges | 65 | €32,703 | €14,793 | -€17,911 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | -€33,221 | €107,090 | +€140,311 | |
| Income taxes | 67/77 | €140 | €0 | -€140 | -100% |
| Profit (loss) for the period | 9904 | -€33,361 | €107,090 | +€140,450 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,361 | €107,090 | +€140,450 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.