AD INVENT: 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 INVENT
Largest movements
- Receivables within one year +€162,218
up €162,218 (+34.8%), from €465,968 to €628,186
of which Trade receivables: +€87,553
- Cash +€134,059
up €134,059 (+101%), from €133,262 to €267,320
mainly Trade debts (+€188,050) and Net result for the year (+€118,340)
- Trade debts +€188,050
up €188,050 (+195%), from €96,537 to €284,587
- Reserves +€118,340
up €118,340 (+25.9%), from €456,902 to €575,241
- Accrued charges and deferred income -€42,571
down €42,571 (-100%), from €42,571 to €0
- Advances received +€27,124
up €27,124 (+1,367%), from €1,984 to €29,109
- Financial charges +€10,374
up €10,374 (+39.6%), from €26,202 to €36,576
of which Financial charges: +€9,766
- Gross operating margin +€6,447
up €6,447 (+3.5%), from €183,301 to €189,748
- Depreciation +€2,779
up €2,779 (+28.3%), from €9,831 to €12,610
- Financial income +€2,558
up €2,558 (+7.7%), from €33,314 to €35,872
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 | €709,805 | €1,008,133 | +€298,327 | +42.0% |
| Fixed assets | 21/28 | €76,647 | €76,556 | -€92 | -0.1% |
| Tangible fixed assets | 22/27 | €75,948 | €75,856 | -€92 | -0.1% |
| Land and buildings | 22 | €43,473 | €41,695 | -€1,778 | -4.1% |
| Plant, machinery and equipment | 23 | €14,190 | €15,388 | +€1,198 | +8.4% |
| Furniture and vehicles | 24 | €18,285 | €18,773 | +€489 | +2.7% |
| Financial fixed assets | 28 | €699 | €699 | = | 0.0% |
| Current assets | 29/58 | €633,158 | €931,577 | +€298,419 | +47.1% |
| Amounts receivable after more than one year | 29 | €1,604 | €1,804 | +€200 | +12.5% |
| Trade receivables | 290 | €1,604 | €1,804 | +€200 | +12.5% |
| Amounts receivable within one year | 40/41 | €465,968 | €628,186 | +€162,218 | +34.8% |
| Trade receivables | 40 | €93,131 | €180,684 | +€87,553 | +94.0% |
| Other amounts receivable | 41 | €372,837 | €447,501 | +€74,665 | +20.0% |
| Current investments | 50/53 | €29,590 | €32,575 | +€2,986 | +10.1% |
| Cash at bank and in hand | 54/58 | €133,262 | €267,320 | +€134,059 | +101% |
| Deferred charges and accrued income | 490/1 | €2,735 | €1,692 | -€1,043 | -38.1% |
| Total equity and liabilities | 10/49 | €709,805 | €1,008,133 | +€298,327 | +42.0% |
| Equity | 10/15 | €463,102 | €581,441 | +€118,340 | +25.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €456,902 | €575,241 | +€118,340 | +25.9% |
| Distributable reserves | 133 | €456,902 | €575,241 | +€118,340 | +25.9% |
| Amounts payable | 17/49 | €246,703 | €426,691 | +€179,988 | +73.0% |
| Amounts payable within one year | 42/48 | €204,132 | €426,691 | +€222,559 | +109% |
| Financial debts | 43 | €1,817 | €0 | -€1,817 | -100% |
| Credit institutions | 430/8 | €1,817 | €0 | -€1,817 | -100% |
| Trade debts | 44 | €96,537 | €284,587 | +€188,050 | +195% |
| Suppliers | 440/4 | €96,537 | €284,587 | +€188,050 | +195% |
| Advances received on contracts in progress | 46 | €1,984 | €29,109 | +€27,124 | +1,367% |
| Taxes, remuneration and social security | 45 | €103,794 | €112,995 | +€9,201 | +8.9% |
| Taxes | 450/3 | €103,794 | €112,995 | +€9,201 | +8.9% |
| Accrued charges and deferred income | 492/3 | €42,571 | €0 | -€42,571 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,831 | €12,610 | +€2,779 | +28.3% |
| Other operating charges | 640/8 | €1,292 | €1,669 | +€377 | +29.1% |
| Gross operating margin | 9900 | €183,301 | €189,748 | +€6,447 | +3.5% |
| Operating profit (loss) | 9901 | €172,178 | €175,470 | +€3,291 | +1.9% |
| Financial income | 75/76B | €33,314 | €35,872 | +€2,558 | +7.7% |
| Recurring financial income | 75 | €33,314 | €35,872 | +€2,558 | +7.7% |
| Financial charges | 65/66B | €26,202 | €36,576 | +€10,374 | +39.6% |
| Recurring financial charges | 65 | €26,202 | €35,968 | +€9,766 | +37.3% |
| Non-recurring financial charges | 66B | - | €608 | +€608 | |
| Profit (loss) for the period before taxes | 9903 | €179,291 | €174,766 | -€4,525 | -2.5% |
| Income taxes | 67/77 | €57,086 | €56,426 | -€660 | -1.2% |
| Profit (loss) for the period | 9904 | €122,204 | €118,340 | -€3,865 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €122,204 | €118,340 | -€3,865 | -3.2% |
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 15 October 2026 via checked.be.