Ad Lumen: 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 Lumen
Largest movements
- Receivables within one year +€2,281
up €2,281 (+1,644%), from €139 to €2,420
of which Trade receivables: +€2,420
- Tangible fixed assets -€788
down €788 (-50.8%), from €1,552 to €764
- Cash +€436
up €436 (+641%), from €68 to €504
mainly Other debts (+€1,150) and Depreciation (+€950)
- Formation expenses -€161
no longer reported in 2025 (was €161)
- Other debts +€1,150
up €1,150 (+15.5%), from €7,400 to €8,550
- Trade debts +€451
up €451 (+7.9%), from €5,708 to €6,159
- Tax, wage and social debts +€161
new in 2025: €161
- Gross operating margin +€2,269
up €2,269, from -€1,155 to €1,114
- Write-downs -€616
no longer reported in 2025 (was €616)
- Depreciation -€81
down €81 (-7.9%), from €1,031 to €950
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 | €2,536 | €4,304 | +€1,767 | +69.7% |
| Formation expenses | 20 | €161 | - | -€161 | |
| Fixed assets | 21/28 | €1,552 | €764 | -€788 | -50.8% |
| Tangible fixed assets | 22/27 | €1,552 | €764 | -€788 | -50.8% |
| Plant, machinery and equipment | 23 | €1,552 | €764 | -€788 | -50.8% |
| Current assets | 29/58 | €823 | €3,540 | +€2,717 | +330% |
| Stocks and contracts in progress | 3 | €616 | €616 | = | 0.0% |
| Stocks | 30/36 | €616 | €616 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €139 | €2,420 | +€2,281 | +1,644% |
| Trade receivables | 40 | - | €2,420 | +€2,420 | |
| Other amounts receivable | 41 | €139 | - | -€139 | |
| Cash at bank and in hand | 54/58 | €68 | €504 | +€436 | +641% |
| Total equity and liabilities | 10/49 | €2,536 | €4,304 | +€1,767 | +69.7% |
| Equity | 10/15 | -€10,571 | -€10,567 | +€5 | 0.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,071 | -€72,067 | +€5 | 0.0% |
| Amounts payable | 17/49 | €13,108 | €14,870 | +€1,763 | +13.4% |
| Amounts payable within one year | 42/48 | €13,108 | €14,870 | +€1,763 | +13.4% |
| Trade debts | 44 | €5,708 | €6,159 | +€451 | +7.9% |
| Suppliers | 440/4 | €5,708 | €6,159 | +€451 | +7.9% |
| Taxes, remuneration and social security | 45 | - | €161 | +€161 | |
| Taxes | 450/3 | - | €161 | +€161 | |
| Other amounts payable | 47/48 | €7,400 | €8,550 | +€1,150 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,031 | €950 | -€81 | -7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €616 | - | -€616 | |
| Other operating charges | 640/8 | €100 | €100 | = | 0.0% |
| Gross operating margin | 9900 | -€1,155 | €1,114 | +€2,269 | |
| Operating profit (loss) | 9901 | -€2,902 | €64 | +€2,966 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €59 | €59 | +€1 | +1.5% |
| Recurring financial charges | 65 | €59 | €59 | +€1 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,960 | €5 | +€2,964 | |
| Profit (loss) for the period | 9904 | -€2,960 | €5 | +€2,964 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,960 | €5 | +€2,964 |
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 23 October 2026 via checked.be.