AD DEM: 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 DEM
Largest movements
- Tangible fixed assets +€54,345
up €54,345 (+411%), from €13,230 to €67,575
of which Furniture and vehicles: +€53,637
- Receivables within one year +€19,930
up €19,930 (+64.2%), from €31,044 to €50,974
of which Trade receivables: +€17,681
- Cash -€18,260
down €18,260 (-99.4%), from €18,374 to €115
mainly Investment in fixed assets (net) (-€75,095) and Receivables within one year (-€19,930)
- Deferred charges and accrued income +€4,847
up €4,847 (+409%), from €1,186 to €6,033
- Stocks and contracts -€3,381
down €3,381 (-56.2%), from €6,019 to €2,638
- Debts after one year +€45,494
new in 2025: €45,494
- Current portion of long-term debt +€10,023
up €10,023 (+231%), from €4,343 to €14,367
- Other debts -€5,730
no longer reported in 2025 (was €5,730)
- Tax, wage and social debts +€5,287
up €5,287 (+440%), from €1,201 to €6,488
of which Remuneration and social security: +€3,857
- Reserves +€4,300
up €4,300 (+17.4%), from €24,660 to €28,960
of which Distributable reserves: +€4,300
- Gross operating margin +€25,267
up €25,267 (+411%), from €6,146 to €31,413
- Depreciation +€13,722
up €13,722 (+195%), from €7,028 to €20,750
- Financial charges +€2,689
up €2,689 (+670%), from €402 to €3,090
- Taxes +€1,135
up €1,135 (+385%), from €295 to €1,430
- Other operating charges +€810
up €810 (+85.0%), from €953 to €1,764
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 | €70,111 | €127,592 | +€57,481 | +82.0% |
| Fixed assets | 21/28 | €13,487 | €67,832 | +€54,345 | +403% |
| Tangible fixed assets | 22/27 | €13,230 | €67,575 | +€54,345 | +411% |
| Plant, machinery and equipment | 23 | €5,139 | €5,848 | +€709 | +13.8% |
| Furniture and vehicles | 24 | €8,091 | €61,727 | +€53,637 | +663% |
| Financial fixed assets | 28 | €257 | €257 | = | 0.0% |
| Current assets | 29/58 | €56,624 | €59,760 | +€3,136 | +5.5% |
| Stocks and contracts in progress | 3 | €6,019 | €2,638 | -€3,381 | -56.2% |
| Stocks | 30/36 | €6,019 | €2,638 | -€3,381 | -56.2% |
| Amounts receivable within one year | 40/41 | €31,044 | €50,974 | +€19,930 | +64.2% |
| Trade receivables | 40 | €29,101 | €46,782 | +€17,681 | +60.8% |
| Other amounts receivable | 41 | €1,943 | €4,192 | +€2,249 | +116% |
| Cash at bank and in hand | 54/58 | €18,374 | €115 | -€18,260 | -99.4% |
| Deferred charges and accrued income | 490/1 | €1,186 | €6,033 | +€4,847 | +409% |
| Total equity and liabilities | 10/49 | €70,111 | €127,592 | +€57,481 | +82.0% |
| Equity | 10/15 | €44,744 | €49,125 | +€4,381 | +9.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,660 | €28,960 | +€4,300 | +17.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €22,800 | €27,100 | +€4,300 | +18.9% |
| Profit (loss) carried forward | 14 | €1,484 | €1,565 | +€81 | +5.4% |
| Amounts payable | 17/49 | €25,366 | €78,467 | +€53,101 | +209% |
| Amounts payable after more than one year | 17 | - | €45,494 | +€45,494 | |
| Financial debts | 170/4 | - | €45,494 | +€45,494 | |
| Amounts payable within one year | 42/48 | €25,366 | €32,973 | +€7,607 | +30.0% |
| Current portion of amounts payable after more than one year | 42 | €4,343 | €14,367 | +€10,023 | +231% |
| Trade debts | 44 | €14,091 | €12,119 | -€1,973 | -14.0% |
| Suppliers | 440/4 | €14,091 | €12,119 | -€1,973 | -14.0% |
| Taxes, remuneration and social security | 45 | €1,201 | €6,488 | +€5,287 | +440% |
| Taxes | 450/3 | - | €1,430 | +€1,430 | |
| Remuneration and social security | 454/9 | €1,201 | €5,058 | +€3,857 | +321% |
| Other amounts payable | 47/48 | €5,730 | - | -€5,730 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,028 | €20,750 | +€13,722 | +195% |
| Other operating charges | 640/8 | €953 | €1,764 | +€810 | +85.0% |
| Gross operating margin | 9900 | €6,146 | €31,413 | +€25,267 | +411% |
| Operating profit (loss) | 9901 | -€1,835 | €8,899 | +€10,734 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +3,775% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +3,775% |
| Financial charges | 65/66B | €402 | €3,090 | +€2,689 | +670% |
| Recurring financial charges | 65 | €402 | €3,090 | +€2,689 | +670% |
| Profit (loss) for the period before taxes | 9903 | -€2,237 | €5,811 | +€8,047 | |
| Income taxes | 67/77 | €295 | €1,430 | +€1,135 | +385% |
| Profit (loss) for the period | 9904 | -€2,531 | €4,381 | +€6,912 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,531 | €4,381 | +€6,912 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.