AD CAR: 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 CAR
Largest movements
- Receivables within one year +€34,115
up €34,115 (+304.5%), from €11,205 to €45,320
of which Trade receivables: +€32,111
- Tangible fixed assets -€25,384
down €25,384 (-46.5%), from €54,617 to €29,233
of which Furniture and vehicles: -€22,963
- Cash -€9,921
down €9,921 (-10.2%), from €97,053 to €87,132
mainly Receivables within one year (-€34,115) and Current portion of long-term debt (-€11,909)
- Deferred charges and accrued income -€4,391
down €4,391 (-81.7%), from €5,376 to €985
- Current portion of long-term debt -€11,909
down €11,909 (-83.2%), from €14,311 to €2,402
- Other debts +€7,566
up €7,566 (+8.0%), from €94,528 to €102,094
- Profit (loss) carried forward -€4,634
down €4,634 (-13.8%), from €33,551 to €28,917
- Tax, wage and social debts +€4,290
up €4,290 (+58.4%), from €7,347 to €11,637
of which Taxes: +€4,290
- Debts after one year -€2,402
no longer reported in 2025 (was €2,402)
- Gross operating margin -€21,958
down €21,958 (-43.9%), from €49,975 to €28,017
- Taxes -€5,159
down €5,159 (-96.6%), from €5,343 to €184
- Staff costs -€1,428
down €1,428 (-28.6%), from €5,001 to €3,573
- Depreciation +€835
up €835 (+3.4%), from €24,549 to €25,384
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 | €182,868 | €175,910 | -€6,958 | -3.8% |
| Fixed assets | 21/28 | €54,617 | €29,233 | -€25,384 | -46.5% |
| Tangible fixed assets | 22/27 | €54,617 | €29,233 | -€25,384 | -46.5% |
| Plant, machinery and equipment | 23 | €5,058 | €4,187 | -€871 | -17.2% |
| Furniture and vehicles | 24 | €43,535 | €20,572 | -€22,963 | -52.7% |
| Other tangible fixed assets | 26 | €6,024 | €4,474 | -€1,550 | -25.7% |
| Current assets | 29/58 | €128,251 | €146,677 | +€18,426 | +14.4% |
| Stocks and contracts in progress | 3 | €14,617 | €13,240 | -€1,377 | -9.4% |
| Stocks | 30/36 | €14,617 | €13,240 | -€1,377 | -9.4% |
| Amounts receivable within one year | 40/41 | €11,205 | €45,320 | +€34,115 | +304.5% |
| Trade receivables | 40 | €11,205 | €43,316 | +€32,111 | +286.6% |
| Other amounts receivable | 41 | - | €2,004 | +€2,004 | |
| Cash at bank and in hand | 54/58 | €97,053 | €87,132 | -€9,921 | -10.2% |
| Deferred charges and accrued income | 490/1 | €5,376 | €985 | -€4,391 | -81.7% |
| Total equity and liabilities | 10/49 | €182,868 | €175,910 | -€6,958 | -3.8% |
| Equity | 10/15 | €56,161 | €51,527 | -€4,634 | -8.3% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €16,360 | €16,360 | = | 0.0% |
| Distributable reserves | 133 | €16,360 | €16,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,551 | €28,917 | -€4,634 | -13.8% |
| Amounts payable | 17/49 | €126,707 | €124,383 | -€2,324 | -1.8% |
| Amounts payable after more than one year | 17 | €2,402 | - | -€2,402 | |
| Financial debts | 170/4 | €2,402 | - | -€2,402 | |
| Amounts payable within one year | 42/48 | €124,126 | €124,383 | +€257 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €14,311 | €2,402 | -€11,909 | -83.2% |
| Trade debts | 44 | €7,940 | €8,250 | +€310 | +3.9% |
| Suppliers | 440/4 | €7,940 | €8,250 | +€310 | +3.9% |
| Taxes, remuneration and social security | 45 | €7,347 | €11,637 | +€4,290 | +58.4% |
| Taxes | 450/3 | €5,347 | €9,637 | +€4,290 | +80.2% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €94,528 | €102,094 | +€7,566 | +8.0% |
| Accrued charges and deferred income | 492/3 | €179 | - | -€179 | |
| Remuneration, social security and pensions | 62 | €5,001 | €3,573 | -€1,428 | -28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,549 | €25,384 | +€835 | +3.4% |
| Other operating charges | 640/8 | €2,118 | €2,572 | +€454 | +21.4% |
| Gross operating margin | 9900 | €49,975 | €28,017 | -€21,958 | -43.9% |
| Operating profit (loss) | 9901 | €18,307 | -€3,512 | -€21,819 | |
| Financial income | 75/76B | €141 | - | -€141 | |
| Recurring financial income | 75 | €141 | - | -€141 | |
| Financial charges | 65/66B | €1,326 | €938 | -€388 | -29.3% |
| Recurring financial charges | 65 | €1,326 | €938 | -€388 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €17,122 | -€4,450 | -€21,572 | |
| Income taxes | 67/77 | €5,343 | €184 | -€5,159 | -96.6% |
| Profit (loss) for the period | 9904 | €11,779 | -€4,634 | -€16,413 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,779 | -€4,634 | -€16,413 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.