AD NOT: 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 NOT
Largest movements
- Cash +€63,247
up €63,247 (+72.3%), from €87,430 to €150,677
mainly Net result for the year (+€59,506) and Other debts (+€23,912)
- Tangible fixed assets -€20,303
down €20,303 (-32.2%), from €62,989 to €42,686
of which Furniture and vehicles: -€18,962
- Receivables within one year +€7,734
up €7,734 (+86.2%), from €8,971 to €16,705
of which Trade receivables: +€15,126
- Reserves +€29,855
up €29,855 (+100.7%), from €29,652 to €59,506
- Other debts +€23,912
up €23,912 (+20.5%), from €116,853 to €140,765
- Trade debts -€2,272
down €2,272 (-52.9%), from €4,298 to €2,026
- Gross operating margin +€38,661
up €38,661 (+61.0%), from €63,427 to €102,087
- Taxes +€7,857
up €7,857 (+70.9%), from €11,080 to €18,937
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 | €162,930 | €215,149 | +€52,219 | +32.1% |
| Fixed assets | 21/28 | €62,989 | €42,686 | -€20,303 | -32.2% |
| Tangible fixed assets | 22/27 | €62,989 | €42,686 | -€20,303 | -32.2% |
| Plant, machinery and equipment | 23 | €1,563 | €222 | -€1,341 | -85.8% |
| Furniture and vehicles | 24 | €61,426 | €42,464 | -€18,962 | -30.9% |
| Current assets | 29/58 | €99,941 | €172,463 | +€72,522 | +72.6% |
| Amounts receivable within one year | 40/41 | €8,971 | €16,705 | +€7,734 | +86.2% |
| Trade receivables | 40 | €0 | €15,126 | +€15,126 | +15125580.0% |
| Other amounts receivable | 41 | €8,971 | €1,579 | -€7,392 | -82.4% |
| Cash at bank and in hand | 54/58 | €87,430 | €150,677 | +€63,247 | +72.3% |
| Deferred charges and accrued income | 490/1 | €3,540 | €5,081 | +€1,541 | +43.5% |
| Total equity and liabilities | 10/49 | €162,930 | €215,149 | +€52,219 | +32.1% |
| Equity | 10/15 | €32,152 | €62,006 | +€29,855 | +92.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €29,652 | €59,506 | +€29,855 | +100.7% |
| Distributable reserves | 133 | €29,652 | €59,506 | +€29,855 | +100.7% |
| Amounts payable | 17/49 | €130,778 | €153,143 | +€22,365 | +17.1% |
| Amounts payable within one year | 42/48 | €130,778 | €153,143 | +€22,365 | +17.1% |
| Trade debts | 44 | €4,298 | €2,026 | -€2,272 | -52.9% |
| Suppliers | 440/4 | €4,298 | €2,026 | -€2,272 | -52.9% |
| Taxes, remuneration and social security | 45 | €9,627 | €10,351 | +€724 | +7.5% |
| Taxes | 450/3 | €6,377 | €7,116 | +€739 | +11.6% |
| Remuneration and social security | 454/9 | €3,250 | €3,235 | -€15 | -0.5% |
| Other amounts payable | 47/48 | €116,853 | €140,765 | +€23,912 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,727 | €22,402 | +€675 | +3.1% |
| Other operating charges | 640/8 | €925 | €1,178 | +€253 | +27.3% |
| Gross operating margin | 9900 | €63,427 | €102,087 | +€38,661 | +61.0% |
| Operating profit (loss) | 9901 | €40,774 | €78,508 | +€37,734 | +92.5% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €45 | €64 | +€19 | +42.4% |
| Recurring financial charges | 65 | €45 | €64 | +€19 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €40,732 | €78,443 | +€37,712 | +92.6% |
| Income taxes | 67/77 | €11,080 | €18,937 | +€7,857 | +70.9% |
| Profit (loss) for the period | 9904 | €29,652 | €59,506 | +€29,855 | +100.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,652 | €59,506 | +€29,855 | +100.7% |
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.