AD Marketing: 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 Marketing
Largest movements
- Intangible fixed assets -€65,000
down €65,000 (-30.9%), from €210,137 to €145,137
- Cash -€26,740
down €26,740 (-33.9%), from €78,823 to €52,083
mainly Contributions, distributions and other (-€281,579) and Debts after one year (-€59,446)
- Receivables within one year +€16,016
up €16,016 (+30.6%), from €52,354 to €68,370
of which Trade receivables: +€13,880
- Profit (loss) carried forward -€160,000
down €160,000 (-81.8%), from €195,698 to €35,698
- Other debts +€103,644
new in 2025: €103,644
- Debts after one year -€59,446
down €59,446 (-74.4%), from €79,910 to €20,464
- Tax, wage and social debts +€36,533
up €36,533 (+767%), from €4,764 to €41,297
- Gross operating margin +€107,907
up €107,907 (+81.6%), from €132,278 to €240,185
- Taxes +€32,298
up €32,298 (+241%), from €13,380 to €45,677
- Financial charges -€4,920
down €4,920 (-44.8%), from €10,992 to €6,072
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 | €347,977 | €269,940 | -€78,037 | -22.4% |
| Fixed assets | 21/28 | €213,491 | €149,090 | -€64,401 | -30.2% |
| Intangible fixed assets | 21 | €210,137 | €145,137 | -€65,000 | -30.9% |
| Tangible fixed assets | 22/27 | €2,192 | €2,791 | +€599 | +27.3% |
| Furniture and vehicles | 24 | €2,192 | €2,791 | +€599 | +27.3% |
| Financial fixed assets | 28 | €1,163 | €1,163 | = | 0.0% |
| Current assets | 29/58 | €134,486 | €120,849 | -€13,636 | -10.1% |
| Amounts receivable within one year | 40/41 | €52,354 | €68,370 | +€16,016 | +30.6% |
| Trade receivables | 40 | €13,977 | €27,858 | +€13,880 | +99.3% |
| Other amounts receivable | 41 | €38,377 | €40,512 | +€2,135 | +5.6% |
| Cash at bank and in hand | 54/58 | €78,823 | €52,083 | -€26,740 | -33.9% |
| Deferred charges and accrued income | 490/1 | €3,308 | €396 | -€2,911 | -88.0% |
| Total equity and liabilities | 10/49 | €347,977 | €269,940 | -€78,037 | -22.4% |
| Equity | 10/15 | €196,698 | €36,698 | -€160,000 | -81.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €195,698 | €35,698 | -€160,000 | -81.8% |
| Amounts payable | 17/49 | €151,279 | €233,242 | +€81,963 | +54.2% |
| Amounts payable after more than one year | 17 | €79,910 | €20,464 | -€59,446 | -74.4% |
| Financial debts | 170/4 | €79,910 | €20,464 | -€59,446 | -74.4% |
| Amounts payable within one year | 42/48 | €71,368 | €212,778 | +€141,410 | +198% |
| Current portion of amounts payable after more than one year | 42 | €56,634 | €59,446 | +€2,812 | +5.0% |
| Financial debts | 43 | €2,353 | - | -€2,353 | |
| Other loans | 439 | €2,353 | - | -€2,353 | |
| Trade debts | 44 | €7,617 | €8,391 | +€774 | +10.2% |
| Suppliers | 440/4 | €7,617 | €8,391 | +€774 | +10.2% |
| Taxes, remuneration and social security | 45 | €4,764 | €41,297 | +€36,533 | +767% |
| Taxes | 450/3 | €4,764 | €41,297 | +€36,533 | +767% |
| Other amounts payable | 47/48 | - | €103,644 | +€103,644 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,896 | €66,099 | +€203 | +0.3% |
| Other operating charges | 640/8 | €874 | €776 | -€98 | -11.2% |
| Gross operating margin | 9900 | €132,278 | €240,185 | +€107,907 | +81.6% |
| Operating profit (loss) | 9901 | €65,508 | €173,311 | +€107,802 | +165% |
| Financial income | 75/76B | €1,400 | €18 | -€1,382 | -98.7% |
| Recurring financial income | 75 | €1,400 | €18 | -€1,382 | -98.7% |
| Financial charges | 65/66B | €10,992 | €6,072 | -€4,920 | -44.8% |
| Recurring financial charges | 65 | €10,992 | €6,072 | -€4,920 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | €55,917 | €167,257 | +€111,340 | +199% |
| Income taxes | 67/77 | €13,380 | €45,677 | +€32,298 | +241% |
| Profit (loss) for the period | 9904 | €42,537 | €121,579 | +€79,042 | +186% |
| Profit (loss) for the period to be appropriated | 9905 | €42,537 | €121,579 | +€79,042 | +186% |
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 26 October 2026 via checked.be.