AD-mix: 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-mix
Largest movements
- Receivables within one year -€5,823
down €5,823 (-39.6%), from €14,696 to €8,873
of which Trade receivables: -€5,823
- Cash -€2,423
down €2,423 (-33.1%), from €7,312 to €4,889
mainly Net result for the year (-€12,717) and Tax, wage and social debts (-€1,599)
- Tangible fixed assets -€1,406
down €1,406 (-26.6%), from €5,284 to €3,878
of which Furniture and vehicles: -€1,167
- Deferred charges and accrued income +€1,208
up €1,208 (+9.7%), from €12,466 to €13,674
- Profit (loss) carried forward -€12,717
down €12,717 (-24.0%), from €52,961 to €40,244
- Trade debts +€8,495
up €8,495 (+492.5%), from €1,725 to €10,220
- Tax, wage and social debts -€1,599
down €1,599 (-23.5%), from €6,804 to €5,205
of which Taxes: -€1,619
- Accrued charges and deferred income -€1,550
down €1,550 (-100.0%), from €1,550 to €0
- Debts after one year -€1,226
down €1,226 (-92.1%), from €1,331 to €105
- Financial charges +€1,980
up €1,980 (+60.5%), from €3,272 to €5,251
- Gross operating margin +€640
up €640 (+17.5%), from -€3,658 to -€3,018
- Other operating charges -€451
down €451 (-17.2%), from €2,622 to €2,171
- Staff costs -€388
down €388 (-100.0%), from €388 to €0
- Depreciation +€338
up €338 (+22.2%), from €1,522 to €1,860
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 | €78,259 | €69,814 | -€8,445 | -10.8% |
| Fixed assets | 21/28 | €37,284 | €35,878 | -€1,406 | -3.8% |
| Intangible fixed assets | 21 | €32,000 | €32,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €5,284 | €3,878 | -€1,406 | -26.6% |
| Plant, machinery and equipment | 23 | €2,325 | €2,086 | -€239 | -10.3% |
| Furniture and vehicles | 24 | €2,959 | €1,792 | -€1,167 | -39.4% |
| Current assets | 29/58 | €40,974 | €33,936 | -€7,039 | -17.2% |
| Stocks and contracts in progress | 3 | €6,500 | €6,500 | = | 0.0% |
| Stocks | 30/36 | €6,500 | €6,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,696 | €8,873 | -€5,823 | -39.6% |
| Trade receivables | 40 | €14,696 | €8,873 | -€5,823 | -39.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €7,312 | €4,889 | -€2,423 | -33.1% |
| Deferred charges and accrued income | 490/1 | €12,466 | €13,674 | +€1,208 | +9.7% |
| Total equity and liabilities | 10/49 | €78,259 | €69,814 | -€8,445 | -10.8% |
| Equity | 10/15 | €61,016 | €48,299 | -€12,717 | -20.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,961 | €40,244 | -€12,717 | -24.0% |
| Amounts payable | 17/49 | €17,243 | €21,515 | +€4,272 | +24.8% |
| Amounts payable after more than one year | 17 | €1,331 | €105 | -€1,226 | -92.1% |
| Financial debts | 170/4 | €1,331 | €105 | -€1,226 | -92.1% |
| Amounts payable within one year | 42/48 | €14,362 | €21,409 | +€7,048 | +49.1% |
| Current portion of amounts payable after more than one year | 42 | €1,160 | €1,226 | +€66 | +5.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,725 | €10,220 | +€8,495 | +492.5% |
| Suppliers | 440/4 | €1,725 | €10,220 | +€8,495 | +492.5% |
| Taxes, remuneration and social security | 45 | €6,804 | €5,205 | -€1,599 | -23.5% |
| Taxes | 450/3 | €6,804 | €5,185 | -€1,619 | -23.8% |
| Remuneration and social security | 454/9 | €0 | €20 | +€20 | |
| Other amounts payable | 47/48 | €4,673 | €4,759 | +€86 | +1.8% |
| Accrued charges and deferred income | 492/3 | €1,550 | €0 | -€1,550 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €388 | €0 | -€388 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,522 | €1,860 | +€338 | +22.2% |
| Other operating charges | 640/8 | €2,622 | €2,171 | -€451 | -17.2% |
| Gross operating margin | 9900 | -€3,658 | -€3,018 | +€640 | +17.5% |
| Operating profit (loss) | 9901 | -€8,190 | -€7,049 | +€1,141 | +13.9% |
| Financial income | 75/76B | €82 | €3 | -€79 | -96.4% |
| Recurring financial income | 75 | €82 | €3 | -€79 | -96.4% |
| Financial charges | 65/66B | €3,272 | €5,251 | +€1,980 | +60.5% |
| Recurring financial charges | 65 | €3,272 | €5,251 | +€1,980 | +60.5% |
| Profit (loss) for the period before taxes | 9903 | -€11,380 | -€12,297 | -€918 | -8.1% |
| Income taxes | 67/77 | €307 | €419 | +€112 | +36.6% |
| Profit (loss) for the period | 9904 | -€11,686 | -€12,717 | -€1,030 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,686 | -€12,717 | -€1,030 | -8.8% |
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 8 October 2026 via checked.be.