AD & K: 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 & K
Largest movements
- Cash +€33,312
up €33,312 (+17.1%), from €194,750 to €228,062
mainly Other debts (+€94,118) and Net result for the year (+€24,309)
- Receivables within one year +€20,067
up €20,067 (+50.4%), from €39,779 to €59,846
of which Trade receivables: +€14,239
- Tangible fixed assets -€18,377
down €18,377 (-36.5%), from €50,341 to €31,964
of which Furniture and vehicles: -€18,377
- Stocks and contracts +€3,750
up €3,750 (+20.8%), from €18,000 to €21,750
- Other debts +€94,118
new in 2025: €94,118
- Profit (loss) carried forward -€69,808
down €69,808 (-29.0%), from €240,766 to €170,958
- Trade debts +€22,804
up €22,804 (+316.6%), from €7,204 to €30,007
- Debts after one year -€7,621
down €7,621 (-23.7%), from €32,139 to €24,518
- Taxes -€14,395
down €14,395 (-64.6%), from €22,296 to €7,901
- Depreciation +€6,505
up €6,505 (+54.8%), from €11,872 to €18,377
- Gross operating margin -€3,993
down €3,993 (-7.8%), from €51,393 to €47,400
- Financial income -€1,204
down €1,204 (-17.8%), from €6,745 to €5,541
- Financial charges +€698
up €698 (+82.3%), from €849 to €1,547
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 | €303,470 | €342,222 | +€38,752 | +12.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €50,941 | €32,564 | -€18,377 | -36.1% |
| Tangible fixed assets | 22/27 | €50,341 | €31,964 | -€18,377 | -36.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €50,341 | €31,964 | -€18,377 | -36.5% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €252,529 | €309,658 | +€57,128 | +22.6% |
| Stocks and contracts in progress | 3 | €18,000 | €21,750 | +€3,750 | +20.8% |
| Stocks | 30/36 | €18,000 | €21,750 | +€3,750 | +20.8% |
| Amounts receivable within one year | 40/41 | €39,779 | €59,846 | +€20,067 | +50.4% |
| Trade receivables | 40 | €26,806 | €41,045 | +€14,239 | +53.1% |
| Other amounts receivable | 41 | €12,973 | €18,801 | +€5,827 | +44.9% |
| Cash at bank and in hand | 54/58 | €194,750 | €228,062 | +€33,312 | +17.1% |
| Total equity and liabilities | 10/49 | €303,470 | €342,222 | +€38,752 | +12.8% |
| Equity | 10/15 | €255,766 | €185,958 | -€69,808 | -27.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €240,766 | €170,958 | -€69,808 | -29.0% |
| Amounts payable | 17/49 | €47,704 | €156,264 | +€108,560 | +227.6% |
| Amounts payable after more than one year | 17 | €32,139 | €24,518 | -€7,621 | -23.7% |
| Financial debts | 170/4 | €32,139 | €24,518 | -€7,621 | -23.7% |
| Amounts payable within one year | 42/48 | €15,565 | €131,746 | +€116,181 | +746.4% |
| Current portion of amounts payable after more than one year | 42 | €8,361 | €7,621 | -€740 | -8.9% |
| Trade debts | 44 | €7,204 | €30,007 | +€22,804 | +316.6% |
| Suppliers | 440/4 | €7,204 | €30,007 | +€22,804 | +316.6% |
| Other amounts payable | 47/48 | - | €94,118 | +€94,118 | |
| Remuneration, social security and pensions | 62 | €384 | - | -€384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,872 | €18,377 | +€6,505 | +54.8% |
| Other operating charges | 640/8 | €856 | €807 | -€49 | -5.7% |
| Gross operating margin | 9900 | €51,393 | €47,400 | -€3,993 | -7.8% |
| Operating profit (loss) | 9901 | €38,281 | €28,216 | -€10,065 | -26.3% |
| Financial income | 75/76B | €6,745 | €5,541 | -€1,204 | -17.8% |
| Recurring financial income | 75 | €6,745 | €5,541 | -€1,204 | -17.8% |
| Financial charges | 65/66B | €849 | €1,547 | +€698 | +82.3% |
| Recurring financial charges | 65 | €849 | €1,547 | +€698 | +82.3% |
| Profit (loss) for the period before taxes | 9903 | €44,178 | €32,210 | -€11,967 | -27.1% |
| Income taxes | 67/77 | €22,296 | €7,901 | -€14,395 | -64.6% |
| Profit (loss) for the period | 9904 | €21,882 | €24,309 | +€2,428 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,882 | €24,309 | +€2,428 | +11.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.