AD CONFIDUNT: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
AD CONFIDUNT
Largest movements
- Current investments +€16,000
new in 2025: €16,000
- Receivables within one year +€10,550
up €10,550 (+106%), from €9,978 to €20,528
of which Trade receivables: +€10,511
- Tangible fixed assets -€6,953
down €6,953 (-30.5%), from €22,763 to €15,810
of which Leasing and similar rights: -€7,609
- Cash -€5,294
down €5,294 (-35.4%), from €14,947 to €9,653
mainly Contributions, distributions and other (-€25,000) and Current investments (-€16,000)
- Intangible fixed assets -€2,643
down €2,643 (-20.7%), from €12,786 to €10,143
- Other debts +€13,554
up €13,554 (+913%), from €1,484 to €15,038
- Debts after one year -€6,848
down €6,848 (-36.5%), from €18,781 to €11,933
- Tax, wage and social debts +€5,905
up €5,905 (+115%), from €5,135 to €11,041
- Trade debts -€875
down €875 (-46.4%), from €1,885 to €1,011
- Gross operating margin +€15,169
up €15,169 (+47.4%), from €32,032 to €47,201
- Taxes +€5,424
up €5,424 (+178%), from €3,053 to €8,477
- Depreciation +€2,596
up €2,596 (+32.3%), from €8,037 to €10,633
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,301 | €74,950 | +€12,649 | +20.3% |
| Fixed assets | 21/28 | €35,699 | €26,104 | -€9,595 | -26.9% |
| Intangible fixed assets | 21 | €12,786 | €10,143 | -€2,643 | -20.7% |
| Tangible fixed assets | 22/27 | €22,763 | €15,810 | -€6,953 | -30.5% |
| Plant, machinery and equipment | 23 | €729 | €486 | -€243 | -33.4% |
| Furniture and vehicles | 24 | - | €899 | +€899 | |
| Leasing and similar rights | 25 | €22,034 | €14,425 | -€7,609 | -34.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €26,602 | €48,846 | +€22,244 | +83.6% |
| Amounts receivable within one year | 40/41 | €9,978 | €20,528 | +€10,550 | +106% |
| Trade receivables | 40 | €8,736 | €19,247 | +€10,511 | +120% |
| Other amounts receivable | 41 | €1,242 | €1,281 | +€39 | +3.1% |
| Current investments | 50/53 | - | €16,000 | +€16,000 | |
| Cash at bank and in hand | 54/58 | €14,947 | €9,653 | -€5,294 | -35.4% |
| Deferred charges and accrued income | 490/1 | €1,677 | €2,665 | +€988 | +58.9% |
| Total equity and liabilities | 10/49 | €62,301 | €74,950 | +€12,649 | +20.3% |
| Equity | 10/15 | €28,451 | €29,080 | +€629 | +2.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €26,951 | €27,580 | +€629 | +2.3% |
| Distributable reserves | 133 | €26,951 | €27,580 | +€629 | +2.3% |
| Amounts payable | 17/49 | €33,850 | €45,870 | +€12,019 | +35.5% |
| Amounts payable after more than one year | 17 | €18,781 | €11,933 | -€6,848 | -36.5% |
| Financial debts | 170/4 | €18,781 | €11,933 | -€6,848 | -36.5% |
| Amounts payable within one year | 42/48 | €15,069 | €33,937 | +€18,868 | +125% |
| Current portion of amounts payable after more than one year | 42 | €6,565 | €6,848 | +€284 | +4.3% |
| Trade debts | 44 | €1,885 | €1,011 | -€875 | -46.4% |
| Suppliers | 440/4 | €1,885 | €1,011 | -€875 | -46.4% |
| Taxes, remuneration and social security | 45 | €5,135 | €11,041 | +€5,905 | +115% |
| Taxes | 450/3 | €5,135 | €11,041 | +€5,905 | +115% |
| Other amounts payable | 47/48 | €1,484 | €15,038 | +€13,554 | +913% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,037 | €10,633 | +€2,596 | +32.3% |
| Other operating charges | 640/8 | €1,571 | €1,693 | +€122 | +7.8% |
| Gross operating margin | 9900 | €32,032 | €47,201 | +€15,169 | +47.4% |
| Operating profit (loss) | 9901 | €22,424 | €34,875 | +€12,451 | +55.5% |
| Financial income | 75/76B | - | €125 | +€125 | |
| Recurring financial income | 75 | - | €125 | +€125 | |
| Financial charges | 65/66B | €1,266 | €894 | -€372 | -29.4% |
| Recurring financial charges | 65 | €1,266 | €894 | -€372 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €21,158 | €34,107 | +€12,949 | +61.2% |
| Income taxes | 67/77 | €3,053 | €8,477 | +€5,424 | +178% |
| Profit (loss) for the period | 9904 | €18,104 | €25,629 | +€7,525 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,104 | €25,629 | +€7,525 | +41.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.