AD center: 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 center
Largest movements
- Stocks and contracts +€91,875
up €91,875 (+150%), from €61,099 to €152,975
- Receivables within one year -€3,652
down €3,652 (-100%), from €3,652 to €0
- Deferred charges and accrued income +€2,115
new in 2025: €2,115
- Trade debts +€33,525
up €33,525 (+247%), from €13,583 to €47,108
- Other debts +€25,754
up €25,754 (+37.5%), from €68,709 to €94,463
- Debts after one year +€20,588
new in 2025: €20,588
- Tax, wage and social debts +€11,011
up €11,011 (+9,729%), from €113 to €11,124
- Current portion of long-term debt +€5,715
new in 2025: €5,715
- Gross operating margin -€2,981
down €2,981, from €2,139 to -€842
- Other operating charges +€1,275
up €1,275 (+329%), from €387 to €1,663
- Financial charges +€1,002
up €1,002 (+2,505%), from €40 to €1,042
- Taxes -€93
down €93 (-82.3%), from €113 to €20
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 | €84,915 | €176,865 | +€91,949 | +108% |
| Formation expenses | 20 | €907 | €0 | -€907 | -100% |
| Fixed assets | 21/28 | - | €1,500 | +€1,500 | |
| Tangible fixed assets | 22/27 | - | €1,500 | +€1,500 | |
| Plant, machinery and equipment | 23 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €84,008 | €175,365 | +€91,357 | +109% |
| Stocks and contracts in progress | 3 | €61,099 | €152,975 | +€91,875 | +150% |
| Stocks | 30/36 | €61,099 | €152,975 | +€91,875 | +150% |
| Amounts receivable within one year | 40/41 | €3,652 | €0 | -€3,652 | -100% |
| Other amounts receivable | 41 | €3,652 | €0 | -€3,652 | -100% |
| Cash at bank and in hand | 54/58 | €19,257 | €20,275 | +€1,018 | +5.3% |
| Deferred charges and accrued income | 490/1 | - | €2,115 | +€2,115 | |
| Total equity and liabilities | 10/49 | €84,915 | €176,865 | +€91,949 | +108% |
| Equity | 10/15 | €2,510 | -€2,133 | -€4,644 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €510 | €510 | = | 0.0% |
| Distributable reserves | 133 | €510 | €510 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€4,644 | -€4,644 | |
| Amounts payable | 17/49 | €82,405 | €178,998 | +€96,593 | +117% |
| Amounts payable after more than one year | 17 | - | €20,588 | +€20,588 | |
| Financial debts | 170/4 | - | €20,588 | +€20,588 | |
| Amounts payable within one year | 42/48 | €82,405 | €158,410 | +€76,005 | +92.2% |
| Current portion of amounts payable after more than one year | 42 | - | €5,715 | +€5,715 | |
| Trade debts | 44 | €13,583 | €47,108 | +€33,525 | +247% |
| Suppliers | 440/4 | €13,583 | €47,108 | +€33,525 | +247% |
| Taxes, remuneration and social security | 45 | €113 | €11,124 | +€11,011 | +9,729% |
| Taxes | 450/3 | €113 | €11,124 | +€11,011 | +9,729% |
| Other amounts payable | 47/48 | €68,709 | €94,463 | +€25,754 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,088 | €1,077 | -€11 | -1.0% |
| Other operating charges | 640/8 | €387 | €1,663 | +€1,275 | +329% |
| Gross operating margin | 9900 | €2,139 | -€842 | -€2,981 | |
| Operating profit (loss) | 9901 | €664 | -€3,582 | -€4,245 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €40 | €1,042 | +€1,002 | +2,505% |
| Recurring financial charges | 65 | €40 | €1,042 | +€1,002 | +2,505% |
| Profit (loss) for the period before taxes | 9903 | €624 | -€4,624 | -€5,247 | |
| Income taxes | 67/77 | €113 | €20 | -€93 | -82.3% |
| Profit (loss) for the period | 9904 | €510 | -€4,644 | -€5,154 | |
| Profit (loss) for the period to be appropriated | 9905 | €510 | -€4,644 | -€5,154 |
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 22 October 2026 via checked.be.