Ad-Lucem: 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-Lucem
Largest movements
- Cash -€35,368
down €35,368 (-25.9%), from €136,544 to €101,176
mainly Contributions, distributions and other (-€141,455) and Net result for the year (-€38,285)
- Receivables within one year -€27,629
down €27,629 (-16.1%), from €171,112 to €143,483
of which Other amounts receivable: -€23,914
- Deferred charges and accrued income +€4,807
up €4,807 (+159.3%), from €3,018 to €7,824
- Reserves -€141,455
down €141,455 (-50.0%), from €282,991 to €141,536
- Other debts +€119,637
up €119,637 (+548.3%), from €21,818 to €141,455
- Profit (loss) carried forward -€38,285
new in 2025: -€38,285
- Gross operating margin -€89,910
down €89,910, from €47,616 to -€42,294
- Taxes -€13,913
down €13,913 (-98.9%), from €14,063 to €150
- Other operating charges -€2,373
down €2,373 (-72.8%), from €3,261 to €888
- Financial income -€659
down €659 (-8.0%), from €8,257 to €7,599
- Depreciation +€496
up €496 (+29.1%), from €1,703 to €2,199
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 | €318,262 | €257,873 | -€60,390 | -19.0% |
| Fixed assets | 21/28 | €7,589 | €5,390 | -€2,199 | -29.0% |
| Tangible fixed assets | 22/27 | €7,589 | €5,390 | -€2,199 | -29.0% |
| Plant, machinery and equipment | 23 | €3,825 | €2,160 | -€1,664 | -43.5% |
| Furniture and vehicles | 24 | €1,439 | €904 | -€535 | -37.2% |
| Other tangible fixed assets | 26 | €2,325 | €2,325 | = | 0.0% |
| Current assets | 29/58 | €310,673 | €252,483 | -€58,191 | -18.7% |
| Amounts receivable within one year | 40/41 | €171,112 | €143,483 | -€27,629 | -16.1% |
| Trade receivables | 40 | €3,716 | - | -€3,716 | |
| Other amounts receivable | 41 | €167,396 | €143,483 | -€23,914 | -14.3% |
| Cash at bank and in hand | 54/58 | €136,544 | €101,176 | -€35,368 | -25.9% |
| Deferred charges and accrued income | 490/1 | €3,018 | €7,824 | +€4,807 | +159.3% |
| Total equity and liabilities | 10/49 | €318,262 | €257,873 | -€60,390 | -19.0% |
| Equity | 10/15 | €295,991 | €116,251 | -€179,740 | -60.7% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €282,991 | €141,536 | -€141,455 | -50.0% |
| Distributable reserves | 133 | €282,991 | €141,536 | -€141,455 | -50.0% |
| Profit (loss) carried forward | 14 | - | -€38,285 | -€38,285 | |
| Amounts payable | 17/49 | €22,271 | €141,622 | +€119,350 | +535.9% |
| Amounts payable within one year | 42/48 | €22,267 | €141,617 | +€119,350 | +536.0% |
| Trade debts | 44 | €449 | €12 | -€437 | -97.3% |
| Suppliers | 440/4 | €449 | €12 | -€437 | -97.3% |
| Taxes, remuneration and social security | 45 | €0 | €150 | +€150 | |
| Taxes | 450/3 | €0 | €150 | +€150 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €21,818 | €141,455 | +€119,637 | +548.3% |
| Accrued charges and deferred income | 492/3 | €5 | €5 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,703 | €2,199 | +€496 | +29.1% |
| Other operating charges | 640/8 | €3,261 | €888 | -€2,373 | -72.8% |
| Gross operating margin | 9900 | €47,616 | -€42,294 | -€89,910 | |
| Operating profit (loss) | 9901 | €42,651 | -€45,381 | -€88,033 | |
| Financial income | 75/76B | €8,257 | €7,599 | -€659 | -8.0% |
| Recurring financial income | 75 | €8,257 | €7,599 | -€659 | -8.0% |
| Financial charges | 65/66B | €24 | €353 | +€329 | +1363.0% |
| Recurring financial charges | 65 | €24 | €353 | +€329 | +1363.0% |
| Profit (loss) for the period before taxes | 9903 | €50,885 | -€38,135 | -€89,020 | |
| Income taxes | 67/77 | €14,063 | €150 | -€13,913 | -98.9% |
| Profit (loss) for the period | 9904 | €36,822 | -€38,285 | -€75,107 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,822 | -€38,285 | -€75,107 |
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 6 October 2026 via checked.be.