AD HOC STUDIO: 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 HOC STUDIO
Largest movements
- Receivables within one year +€137,148
up €137,148 (+918%), from €14,938 to €152,085
of which Trade receivables: +€117,323
- Cash -€99,249
down €99,249 (-89.1%), from €111,391 to €12,142
mainly Receivables within one year (-€137,148) and Investment in fixed assets (net) (-€16,505)
- Other debts +€51,844
up €51,844 (+233%), from €22,298 to €74,141
- Tax, wage and social debts -€10,654
down €10,654 (-29.0%), from €36,749 to €26,096
of which Taxes: -€14,757
- Trade debts -€9,634
down €9,634 (-55.3%), from €17,413 to €7,779
- Reserves +€8,000
up €8,000 (+9.1%), from €88,000 to €96,000
- Gross operating margin -€50,142
down €50,142 (-53.5%), from €93,641 to €43,499
- Taxes -€13,806
down €13,806 (-77.1%), from €17,899 to €4,093
- Staff costs +€13,549
up €13,549 (+30,049%), from €45 to €13,594
- Depreciation +€2,719
up €2,719 (+22.7%), from €11,953 to €14,673
- Other operating charges +€1,155
up €1,155 (+351%), from €329 to €1,483
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 | €169,475 | €209,988 | +€40,513 | +23.9% |
| Fixed assets | 21/28 | €42,513 | €44,345 | +€1,832 | +4.3% |
| Tangible fixed assets | 22/27 | €42,513 | €44,061 | +€1,549 | +3.6% |
| Plant, machinery and equipment | 23 | €4,944 | €8,446 | +€3,502 | +70.8% |
| Furniture and vehicles | 24 | €37,569 | €35,615 | -€1,954 | -5.2% |
| Financial fixed assets | 28 | - | €284 | +€284 | |
| Current assets | 29/58 | €126,962 | €165,643 | +€38,681 | +30.5% |
| Amounts receivable within one year | 40/41 | €14,938 | €152,085 | +€137,148 | +918% |
| Trade receivables | 40 | €7,654 | €124,977 | +€117,323 | +1,533% |
| Other amounts receivable | 41 | €7,284 | €27,109 | +€19,824 | +272% |
| Cash at bank and in hand | 54/58 | €111,391 | €12,142 | -€99,249 | -89.1% |
| Deferred charges and accrued income | 490/1 | €633 | €1,416 | +€783 | +124% |
| Total equity and liabilities | 10/49 | €169,475 | €209,988 | +€40,513 | +23.9% |
| Equity | 10/15 | €93,015 | €101,972 | +€8,957 | +9.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €88,000 | €96,000 | +€8,000 | +9.1% |
| Distributable reserves | 133 | €88,000 | €96,000 | +€8,000 | +9.1% |
| Profit (loss) carried forward | 14 | €15 | €972 | +€957 | +6,243% |
| Amounts payable | 17/49 | €76,460 | €108,016 | +€31,556 | +41.3% |
| Amounts payable within one year | 42/48 | €76,460 | €108,016 | +€31,556 | +41.3% |
| Trade debts | 44 | €17,413 | €7,779 | -€9,634 | -55.3% |
| Suppliers | 440/4 | €17,413 | €7,779 | -€9,634 | -55.3% |
| Taxes, remuneration and social security | 45 | €36,749 | €26,096 | -€10,654 | -29.0% |
| Taxes | 450/3 | €36,749 | €21,992 | -€14,757 | -40.2% |
| Remuneration and social security | 454/9 | - | €4,103 | +€4,103 | |
| Other amounts payable | 47/48 | €22,298 | €74,141 | +€51,844 | +233% |
| Remuneration, social security and pensions | 62 | €45 | €13,594 | +€13,549 | +30,049% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,953 | €14,673 | +€2,719 | +22.7% |
| Other operating charges | 640/8 | €329 | €1,483 | +€1,155 | +351% |
| Gross operating margin | 9900 | €93,641 | €43,499 | -€50,142 | -53.5% |
| Operating profit (loss) | 9901 | €81,314 | €13,749 | -€67,565 | -83.1% |
| Financial income | 75/76B | €9 | €1 | -€8 | -87.9% |
| Recurring financial income | 75 | €9 | €1 | -€8 | -87.9% |
| Financial charges | 65/66B | €252 | €700 | +€448 | +178% |
| Recurring financial charges | 65 | €252 | €700 | +€448 | +178% |
| Profit (loss) for the period before taxes | 9903 | €81,072 | €13,050 | -€68,021 | -83.9% |
| Income taxes | 67/77 | €17,899 | €4,093 | -€13,806 | -77.1% |
| Profit (loss) for the period | 9904 | €63,173 | €8,957 | -€54,215 | -85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,173 | €8,957 | -€54,215 | -85.8% |
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 21 October 2026 via checked.be.