Ad-Hoc: what changed
Two fiscal 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-Hoc
Largest movements
- Current investments +€262,000
new in 2025: €262,000
- Cash -€177,526
down €177,526 (-97.3%), from €182,371 to €4,845
mainly Current investments (-€262,000) and Contributions, distributions and other (-€34,960)
- Receivables within one year -€26,451
down €26,451 (-56.1%), from €47,156 to €20,705
of which Trade receivables: -€20,182
- Tangible fixed assets +€6,571
up €6,571 (+63.7%), from €10,320 to €16,891
of which Furniture and vehicles: +€8,147
- Reserves +€21,438
up €21,438 (+13.1%), from €163,883 to €185,321
- Other debts +€21,049
new in 2025: €21,049
- Tax, wage and social debts +€15,667
up €15,667 (+1561.1%), from €1,004 to €16,671
of which Taxes: +€15,790
- Trade debts +€5,252
up €5,252 (+171.1%), from €3,070 to €8,321
- Provisions -€39,579
down €39,579 (-96.1%), from €41,196 to €1,616
- Financial charges +€28,419
up €28,419 (+43701.4%), from €65 to €28,484
- Gross operating margin +€27,584
up €27,584 (+31.3%), from €88,106 to €115,690
- Financial income -€5,020
down €5,020 (-81.4%), from €6,164 to €1,144
- Taxes +€1,240
up €1,240 (+5.6%), from €22,178 to €23,418
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.
Cash bridge derived
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 | €254,254 | €319,381 | +€65,127 | +25.6% |
| Fixed assets | 21/28 | €22,857 | €29,428 | +€6,571 | +28.8% |
| Tangible fixed assets | 22/27 | €10,320 | €16,891 | +€6,571 | +63.7% |
| Plant, machinery and equipment | 23 | €1,164 | €582 | -€582 | -50.0% |
| Furniture and vehicles | 24 | €6,764 | €14,911 | +€8,147 | +120.4% |
| Other tangible fixed assets | 26 | €2,391 | €1,398 | -€994 | -41.6% |
| Financial fixed assets | 28 | €12,537 | €12,537 | = | 0.0% |
| Current assets | 29/58 | €231,397 | €289,953 | +€58,556 | +25.3% |
| Amounts receivable within one year | 40/41 | €47,156 | €20,705 | -€26,451 | -56.1% |
| Trade receivables | 40 | €38,009 | €17,827 | -€20,182 | -53.1% |
| Other amounts receivable | 41 | €9,147 | €2,877 | -€6,270 | -68.5% |
| Current investments | 50/53 | - | €262,000 | +€262,000 | |
| Cash at bank and in hand | 54/58 | €182,371 | €4,845 | -€177,526 | -97.3% |
| Deferred charges and accrued income | 490/1 | €1,871 | €2,403 | +€533 | +28.5% |
| Total equity and liabilities | 10/49 | €254,254 | €319,381 | +€65,127 | +25.6% |
| Equity | 10/15 | €200,416 | €221,855 | +€21,438 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €163,883 | €185,321 | +€21,438 | +13.1% |
| Distributable reserves | 133 | €163,883 | €185,321 | +€21,438 | +13.1% |
| Profit (loss) carried forward | 14 | €17,933 | €17,933 | = | 0.0% |
| Provisions and deferred taxes | 16 | €49,765 | €51,381 | +€1,616 | +3.2% |
| Provisions for liabilities and charges | 160/5 | €49,765 | €51,381 | +€1,616 | +3.2% |
| Pensions and similar obligations | 160 | €8,569 | €8,569 | = | 0.0% |
| Other liabilities and charges | 164/5 | €41,196 | €42,812 | +€1,616 | +3.9% |
| Amounts payable | 17/49 | €4,073 | €46,145 | +€42,072 | +1032.9% |
| Amounts payable within one year | 42/48 | €4,073 | €46,145 | +€42,072 | +1032.9% |
| Financial debts | 43 | - | €104 | +€104 | |
| Credit institutions | 430/8 | - | €104 | +€104 | |
| Trade debts | 44 | €3,070 | €8,321 | +€5,252 | +171.1% |
| Suppliers | 440/4 | €3,070 | €8,321 | +€5,252 | +171.1% |
| Taxes, remuneration and social security | 45 | €1,004 | €16,671 | +€15,667 | +1561.1% |
| Taxes | 450/3 | €881 | €16,671 | +€15,790 | +1793.2% |
| Remuneration and social security | 454/9 | €123 | - | -€123 | |
| Other amounts payable | 47/48 | - | €21,049 | +€21,049 | |
| Non-recurring operating income | 76A | - | €2,126 | +€2,126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,010 | €5,624 | +€614 | +12.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €41,196 | €1,616 | -€39,579 | -96.1% |
| Other operating charges | 640/8 | €1,561 | €1,295 | -€266 | -17.1% |
| Gross operating margin | 9900 | €88,106 | €115,690 | +€27,584 | +31.3% |
| Operating profit (loss) | 9901 | €40,340 | €107,156 | +€66,816 | +165.6% |
| Financial income | 75/76B | €6,164 | €1,144 | -€5,020 | -81.4% |
| Recurring financial income | 75 | €6,164 | €1,144 | -€5,020 | -81.4% |
| Financial charges | 65/66B | €65 | €28,484 | +€28,419 | +43701.4% |
| Recurring financial charges | 65 | €65 | €28,484 | +€28,419 | +43701.4% |
| Profit (loss) for the period before taxes | 9903 | €46,439 | €79,816 | +€33,377 | +71.9% |
| Income taxes | 67/77 | €22,178 | €23,418 | +€1,240 | +5.6% |
| Profit (loss) for the period | 9904 | €24,261 | €56,398 | +€32,137 | +132.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,261 | €56,398 | +€32,137 | +132.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.