Ad Meliora: 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 Meliora
Largest movements
- Receivables within one year +€3,449
up €3,449 (+30.7%), from €11,253 to €14,702
of which Trade receivables: +€3,025
- Formation expenses -€1,461
down €1,461 (-23.1%), from €6,322 to €4,861
- Tax, wage and social debts -€14,303
down €14,303 (-67.3%), from €21,267 to €6,964
of which Taxes: -€11,803
- Profit (loss) carried forward +€13,285
up €13,285 (+120%), from €11,054 to €24,339
- Other debts +€1,468
up €1,468 (+73.3%), from €2,004 to €3,472
- Trade debts +€1,161
up €1,161 (+73.6%), from €1,577 to €2,738
- Gross operating margin +€3,219
up €3,219 (+14.7%), from €21,862 to €25,081
- Taxes +€1,377
up €1,377 (+42.2%), from €3,261 to €4,639
- Financial charges +€1,295
up €1,295 (+53.2%), from €2,435 to €3,730
- Depreciation +€781
up €781 (+74.3%), from €1,051 to €1,832
- Other operating charges +€575
up €575 (+304%), from €189 to €764
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 | €40,902 | €42,646 | +€1,745 | +4.3% |
| Formation expenses | 20 | €6,322 | €4,861 | -€1,461 | -23.1% |
| Fixed assets | 21/28 | €370 | - | -€370 | |
| Tangible fixed assets | 22/27 | €370 | - | -€370 | |
| Plant, machinery and equipment | 23 | €370 | - | -€370 | |
| Current assets | 29/58 | €34,209 | €37,785 | +€3,576 | +10.5% |
| Amounts receivable within one year | 40/41 | €11,253 | €14,702 | +€3,449 | +30.7% |
| Trade receivables | 40 | €11,253 | €14,278 | +€3,025 | +26.9% |
| Other amounts receivable | 41 | - | €424 | +€424 | |
| Cash at bank and in hand | 54/58 | €21,917 | €22,228 | +€311 | +1.4% |
| Deferred charges and accrued income | 490/1 | €1,039 | €855 | -€184 | -17.7% |
| Total equity and liabilities | 10/49 | €40,902 | €42,646 | +€1,745 | +4.3% |
| Equity | 10/15 | €16,054 | €29,339 | +€13,285 | +82.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,054 | €24,339 | +€13,285 | +120% |
| Amounts payable | 17/49 | €24,848 | €13,308 | -€11,540 | -46.4% |
| Amounts payable within one year | 42/48 | €24,848 | €13,174 | -€11,674 | -47.0% |
| Trade debts | 44 | €1,577 | €2,738 | +€1,161 | +73.6% |
| Suppliers | 440/4 | €1,577 | €2,738 | +€1,161 | +73.6% |
| Taxes, remuneration and social security | 45 | €21,267 | €6,964 | -€14,303 | -67.3% |
| Taxes | 450/3 | €18,767 | €6,964 | -€11,803 | -62.9% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | €2,004 | €3,472 | +€1,468 | +73.3% |
| Accrued charges and deferred income | 492/3 | - | €134 | +€134 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,051 | €1,832 | +€781 | +74.3% |
| Other operating charges | 640/8 | €189 | €764 | +€575 | +304% |
| Gross operating margin | 9900 | €21,862 | €25,081 | +€3,219 | +14.7% |
| Operating profit (loss) | 9901 | €20,622 | €22,486 | +€1,864 | +9.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,435 | €3,730 | +€1,295 | +53.2% |
| Recurring financial charges | 65 | €2,435 | €3,730 | +€1,295 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €18,187 | €18,756 | +€569 | +3.1% |
| Income taxes | 67/77 | €3,261 | €4,639 | +€1,377 | +42.2% |
| Profit (loss) for the period | 9904 | €14,926 | €14,118 | -€808 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,926 | €14,118 | -€808 | -5.4% |
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 13 October 2026 via checked.be.