AD NUTUM: 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 NUTUM
Largest movements
- Receivables within one year +€142,541
up €142,541 (+915%), from €15,579 to €158,120
of which Trade receivables: +€146,020
- Cash -€25,175
down €25,175 (-50.4%), from €49,991 to €24,816
mainly Receivables within one year (-€142,541) and Contributions, distributions and other (-€129,475)
- Tangible fixed assets +€3,805
up €3,805 (+172%), from €2,207 to €6,013
- Other debts +€119,989
up €119,989 (+1,088%), from €11,030 to €131,019
- Gross operating margin +€164,963
up €164,963 (+3,724%), from €4,430 to €169,393
- Taxes +€36,522
up €36,522 (+4,159%), from €878 to €37,400
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 | €67,777 | €188,948 | +€121,171 | +179% |
| Fixed assets | 21/28 | €2,207 | €6,013 | +€3,805 | +172% |
| Tangible fixed assets | 22/27 | €2,207 | €6,013 | +€3,805 | +172% |
| Furniture and vehicles | 24 | €2,207 | €6,013 | +€3,805 | +172% |
| Current assets | 29/58 | €65,570 | €182,936 | +€117,366 | +179% |
| Amounts receivable within one year | 40/41 | €15,579 | €158,120 | +€142,541 | +915% |
| Trade receivables | 40 | - | €146,020 | +€146,020 | |
| Other amounts receivable | 41 | €15,579 | €12,100 | -€3,479 | -22.3% |
| Cash at bank and in hand | 54/58 | €49,991 | €24,816 | -€25,175 | -50.4% |
| Total equity and liabilities | 10/49 | €67,777 | €188,948 | +€121,171 | +179% |
| Equity | 10/15 | €50,353 | €50,353 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €48,353 | €48,353 | = | 0.0% |
| Distributable reserves | 133 | €48,353 | €48,353 | = | 0.0% |
| Amounts payable | 17/49 | €17,424 | €138,596 | +€121,171 | +695% |
| Amounts payable within one year | 42/48 | €17,424 | €138,596 | +€121,171 | +695% |
| Trade debts | 44 | €2,761 | €4,140 | +€1,379 | +49.9% |
| Suppliers | 440/4 | €2,761 | €4,140 | +€1,379 | +49.9% |
| Taxes, remuneration and social security | 45 | €3,633 | €3,436 | -€197 | -5.4% |
| Taxes | 450/3 | €3,626 | €3,436 | -€190 | -5.2% |
| Remuneration and social security | 454/9 | €7 | - | -€7 | |
| Other amounts payable | 47/48 | €11,030 | €131,019 | +€119,989 | +1,088% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,286 | €1,559 | +€274 | +21.3% |
| Other operating charges | 640/8 | €180 | - | -€180 | |
| Gross operating margin | 9900 | €4,430 | €169,393 | +€164,963 | +3,724% |
| Operating profit (loss) | 9901 | €2,964 | €167,834 | +€164,870 | +5,562% |
| Financial charges | 65/66B | €1,747 | €958 | -€788 | -45.1% |
| Recurring financial charges | 65 | €1,747 | €958 | -€788 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | €1,217 | €166,875 | +€165,658 | +13,609% |
| Income taxes | 67/77 | €878 | €37,400 | +€36,522 | +4,159% |
| Profit (loss) for the period | 9904 | €339 | €129,475 | +€129,136 | +38,087% |
| Profit (loss) for the period to be appropriated | 9905 | €339 | €129,475 | +€129,136 | +38,087% |
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 25 October 2026 via checked.be.