AD GROUP: 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 GROUP
Largest movements
- Receivables within one year -€79,607
no longer reported in 2025 (was €79,607)
- Cash +€22,687
up €22,687 (+62.0%), from €36,590 to €59,277
- Other debts -€32,404
down €32,404 (-81.0%), from €40,000 to €7,596
- Profit (loss) carried forward -€28,991
down €28,991 (-61.0%), from €47,497 to €18,506
- Trade debts +€2,957
up €2,957 (+229.8%), from €1,287 to €4,244
- Tax, wage and social debts +€2,013
up €2,013 (+20.8%), from €9,670 to €11,683
of which Taxes: +€5,819
- Gross operating margin -€85,493
down €85,493 (-80.3%), from €106,477 to €20,984
- Staff costs +€2,644
up €2,644 (+24.0%), from €10,998 to €13,642
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €117,054 | €60,629 | -€56,425 | -48.2% |
| Fixed assets | 21/28 | €857 | €1,352 | +€495 | +57.7% |
| Tangible fixed assets | 22/27 | €816 | €1,311 | +€495 | +60.6% |
| Furniture and vehicles | 24 | - | €1,311 | +€1,311 | |
| Other tangible fixed assets | 26 | €816 | - | -€816 | |
| Financial fixed assets | 28 | €41 | €41 | -€0 | -0.2% |
| Current assets | 29/58 | €116,197 | €59,277 | -€56,920 | -49.0% |
| Amounts receivable within one year | 40/41 | €79,607 | - | -€79,607 | |
| Other amounts receivable | 41 | €79,607 | - | -€79,607 | |
| Cash at bank and in hand | 54/58 | €36,590 | €59,277 | +€22,687 | +62.0% |
| Total equity and liabilities | 10/49 | €117,054 | €60,629 | -€56,425 | -48.2% |
| Equity | 10/15 | €66,097 | €37,106 | -€28,991 | -43.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,497 | €18,506 | -€28,991 | -61.0% |
| Amounts payable | 17/49 | €50,957 | €23,523 | -€27,434 | -53.8% |
| Amounts payable within one year | 42/48 | €50,957 | €23,523 | -€27,434 | -53.8% |
| Trade debts | 44 | €1,287 | €4,244 | +€2,957 | +229.8% |
| Suppliers | 440/4 | €1,287 | €4,244 | +€2,957 | +229.8% |
| Taxes, remuneration and social security | 45 | €9,670 | €11,683 | +€2,013 | +20.8% |
| Taxes | 450/3 | €5,864 | €11,683 | +€5,819 | +99.2% |
| Remuneration and social security | 454/9 | €3,806 | - | -€3,806 | |
| Other amounts payable | 47/48 | €40,000 | €7,596 | -€32,404 | -81.0% |
| Remuneration, social security and pensions | 62 | €10,998 | €13,642 | +€2,644 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €443 | €633 | +€190 | +42.8% |
| Other operating charges | 640/8 | €614 | €1,448 | +€835 | +136.0% |
| Gross operating margin | 9900 | €106,477 | €20,984 | -€85,493 | -80.3% |
| Operating profit (loss) | 9901 | €94,422 | €5,261 | -€89,161 | -94.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,084 | €827 | -€257 | -23.7% |
| Recurring financial charges | 65 | €1,084 | €827 | -€257 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €93,338 | €4,434 | -€88,904 | -95.2% |
| Profit (loss) for the period | 9904 | €93,338 | €4,434 | -€88,904 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €93,338 | €4,434 | -€88,904 | -95.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.