Ad-Flex: 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-Flex
Largest movements
- Cash +€42,221
up €42,221 (+67.1%), from €62,901 to €105,122
mainly Net result for the year (+€48,542) and Tax, wage and social debts (+€19,074)
- Receivables after one year +€25,000
up €25,000 (+33.3%), from €75,000 to €100,000
- Receivables within one year -€17,962
down €17,962 (-100%), from €17,962 to €0
- Tangible fixed assets +€13,356
new in 2025: €13,356
- Deferred charges and accrued income +€5,080
up €5,080 (+124%), from €4,100 to €9,179
- Reserves +€48,542
up €48,542 (+41.8%), from €116,152 to €164,694
- Tax, wage and social debts +€19,074
up €19,074 (+77.3%), from €24,664 to €43,738
of which Remuneration and social security: +€9,820
- Gross operating margin +€86,917
up €86,917 (+65.7%), from €132,290 to €219,207
- Staff costs +€66,919
up €66,919 (+79.4%), from €84,315 to €151,234
- Taxes +€5,339
up €5,339 (+37.3%), from €14,308 to €19,647
- Depreciation +€3,047
new in 2025: €3,047
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 | €159,962 | €227,657 | +€67,695 | +42.3% |
| Fixed assets | 21/28 | - | €13,356 | +€13,356 | |
| Tangible fixed assets | 22/27 | - | €13,356 | +€13,356 | |
| Furniture and vehicles | 24 | - | €13,356 | +€13,356 | |
| Current assets | 29/58 | €159,962 | €214,301 | +€54,339 | +34.0% |
| Amounts receivable after more than one year | 29 | €75,000 | €100,000 | +€25,000 | +33.3% |
| Other amounts receivable | 291 | €75,000 | €100,000 | +€25,000 | +33.3% |
| Amounts receivable within one year | 40/41 | €17,962 | €0 | -€17,962 | -100% |
| Trade receivables | 40 | €17,962 | €0 | -€17,962 | -100% |
| Cash at bank and in hand | 54/58 | €62,901 | €105,122 | +€42,221 | +67.1% |
| Deferred charges and accrued income | 490/1 | €4,100 | €9,179 | +€5,080 | +124% |
| Total equity and liabilities | 10/49 | €159,962 | €227,657 | +€67,695 | +42.3% |
| Equity | 10/15 | €134,752 | €183,294 | +€48,542 | +36.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,152 | €164,694 | +€48,542 | +41.8% |
| Distributable reserves | 133 | €116,152 | €164,694 | +€48,542 | +41.8% |
| Amounts payable | 17/49 | €25,210 | €44,363 | +€19,153 | +76.0% |
| Amounts payable within one year | 42/48 | €25,210 | €44,363 | +€19,153 | +76.0% |
| Trade debts | 44 | €546 | €625 | +€80 | +14.6% |
| Suppliers | 440/4 | €546 | €625 | +€80 | +14.6% |
| Taxes, remuneration and social security | 45 | €24,664 | €43,738 | +€19,074 | +77.3% |
| Taxes | 450/3 | €9,054 | €18,308 | +€9,254 | +102% |
| Remuneration and social security | 454/9 | €15,610 | €25,430 | +€9,820 | +62.9% |
| Remuneration, social security and pensions | 62 | €84,315 | €151,234 | +€66,919 | +79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,047 | +€3,047 | |
| Other operating charges | 640/8 | €797 | €977 | +€180 | +22.6% |
| Gross operating margin | 9900 | €132,290 | €219,207 | +€86,917 | +65.7% |
| Operating profit (loss) | 9901 | €47,179 | €63,949 | +€16,770 | +35.5% |
| Financial income | 75/76B | €3,767 | €4,265 | +€498 | +13.2% |
| Recurring financial income | 75 | €3,767 | €4,265 | +€498 | +13.2% |
| Financial charges | 65/66B | €9 | €25 | +€16 | +169% |
| Recurring financial charges | 65 | €9 | €25 | +€16 | +169% |
| Profit (loss) for the period before taxes | 9903 | €50,936 | €68,189 | +€17,253 | +33.9% |
| Income taxes | 67/77 | €14,308 | €19,647 | +€5,339 | +37.3% |
| Profit (loss) for the period | 9904 | €36,629 | €48,542 | +€11,913 | +32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,629 | €48,542 | +€11,913 | +32.5% |
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 13 October 2026 via checked.be.